Listing Type:   | Insurance Linked Security |
Listing Status:   | Delisted |
Listed:   | 18 Mar 2011 |
Delisted:   | 17 Apr 2014 |
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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