BSX Listing Type:  | Insurance Linked Security |
BSX Listing Status:  | Delisted |
c/o Marsh Management Services (Dublin) Limited, 4th Floor, 25-28 Adelaide Road, Dublin 2, Ireland
DELISTED UPON MATURITY
Description:
Issuance of $ 100,000,000 Principal At-Risk Variable Rate Notes due April 9
th, 2014 which are exposed to the peril of hurricane and European windstorms on an aggregate basis over the risk period; (“the Notes ”) . The Notes will be issued in United States currency, in minimum denominations of $250,000 and integral multiples of $1000 thereof.
Purpose:
The purpose of the issuance of the Notes (the “Offering”) is to collateralize and fund the obligations of the Issuer under a risk transfer contract to make certain risk transfer payments to the counterparty following the occurrence of one or more Hurricanes in specifically covered areas and/or the occurrence of one or more European Windstorms in specifically covered areas (together “Loss Events”). The Risk Transfer Counterparty is Münchener Rückversicherungs- Gesellschaft Aktiengesellschaft in München (“Munich Re”).
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