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ll Lynch Global Equity Volatility Insights | 20 June 2017 19 HOUSE_OVERSIGHT_014990 --- PAGE BREAK --- Chart 29: The ratio of AS51 3M ATM IV over HSCEL is at its 4-yr high Table 8: Index pairs‘ with the highest implied vol ratio vs their histories (Daily data from 1-Oct-12 through 16-Jun-17) (data a
Page: HOUSE_OVERSIGHT_014991 →ncy rates of exchange may adversely affect including ADRs, effectively assume currency risk. UK Readers: The protections provided located outside of the United Kingdom. BofA errill Lyne h Global Researc| MLPF&S or one of its affiliates is a regular issuer of traded financial instru time, hold a BofA Merrill w r
Page: HOUSE_OVERSIGHT_015000 →since 2014. Products issued in Oct-16 (US$3.1bn) and Nov-2016 (USS3.4bn) have knocked out recently and rolled into new products. However, the legacy HSCEl-linked products issued in May-15 were struck at a very high HSCEI spot level and were not able to knock-out this month. We think issuance may pick up
Page: HOUSE_OVERSIGHT_023594 →eign currency rates of exchange may adversely affect ing ADRs, effectively assume c UK Readers: The protections provided by the U. located outside of the United Kingdom. BofA MLPF&S or one of its affiliates is a regular issuer of traded financial instru time, hold a trading position (long or short) in the securities
Page: HOUSE_OVERSIGHT_023610 →largest increase. KOSPI2-linked issuance hence took over SX5E-linked issuance (currently USS$436mn), which was relatively unchanged compared to June. HSCEl-linked issuance (currently USS 69mn) further declined whereas HSl-linked issuance (currently USS 262mn) increased again. SPX-linked issuance grew to
Page: HOUSE_OVERSIGHT_025995 →Kingdom of Saudi Arabia Company, regulated by the Capital Market Authority. This information: has been approved for publication and is distributed in the United Kingdom (UK) to professional clients and eligible counterparties (as each is defined in the rules of the FCA and the PRA) by MLI (UK) and Bank of America Mer
Page: HOUSE_OVERSIGHT_026002 →Entities connected to both United Kingdom and HSCEl

United States
LOCATION
Donald Trump
PERSON
Marc Rich
PERSON
Frankfurt
LOCATIONDoug Band
PERSON
U.S. Treasury
ORGANIZATION
Hong Kong
LOCATIONBaFin
ORGANIZATIONthe Australian Securities and Investments Commission
ORGANIZATION
Seoul
LOCATION
Michael Bloomberg
PERSON
Bank of America
ORGANIZATION
Jeff Sessions
PERSON
Merrill Lynch
ORGANIZATION
Telstra
ORGANIZATIONMerchant Bank
ORGANIZATION
Merrill Lynch Global Wealth Management
ORGANIZATIONThe Financial Service Board
ORGANIZATIONthe Securities and Futures Bureau
ORGANIZATION
Bank of America Corporation
ORGANIZATION