HOUSE_OVERSIGHT_014998.jpg
1.25 MB
Extraction Summary
1
People
13
Organizations
0
Locations
2
Events
3
Relationships
3
Quotes
Document Information
Type:
Financial research report / disclosure statement
File Size:
1.25 MB
Summary
This document is page 27 of a 'Global Equity Volatility Insights' report dated June 20, 2017, by Bank of America Merrill Lynch. It contains standard risk statements regarding options trading, an analyst certification by Benjamin Bowler, and special disclosures regarding BofA Merrill Lynch's role as a financial adviser in major transactions involving Glencore PLC, Rosneft PJSC, and Allfunds Bank. The document bears the Bates stamp HOUSE_OVERSIGHT_014998.
People (1)
| Name | Role | Context |
|---|---|---|
| Benjamin Bowler | Analyst |
Certifying analyst for the research report.
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Organizations (13)
| Name | Type | Context |
|---|---|---|
| Bank of America Merrill Lynch |
Author of the report and financial adviser in disclosed transactions.
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| FINRA |
Referenced regarding Registered Options Principals.
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|
| Glencore PLC |
Advised by BofA Merrill Lynch regarding Rosneft acquisition.
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| Qatar Investment Authority |
Partnered with Glencore PLC.
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| Rosneft PJSC |
Subject of 19.5% stake acquisition.
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| Intesa Sanpaolo Group |
Advised by BofA Merrill Lynch regarding Allfunds Bank sale.
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| Banco Santander SA |
Advised by BofA Merrill Lynch regarding Allfunds Bank sale.
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| Warburg Pincus LLC |
Advised by BofA Merrill Lynch regarding Allfunds Bank sale.
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| General Atlantic LLC |
Advised by BofA Merrill Lynch regarding Allfunds Bank sale.
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| Allfunds Bank |
Subject of stake sale.
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| Hellman & Friedman |
Purchaser of Allfunds Bank stake.
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| GIC |
Purchaser of Allfunds Bank stake.
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| OCC |
Options Clearing Corporation (implied by URL and white paper reference).
|
Timeline (2 events)
2016-12-10
Announcement of Rosneft PJSC stake acquisition.
2017-03-07
Announcement of Allfunds Bank stake sale.
Relationships (3)
Special Disclosures section
Special Disclosures section
Analyst Certification section in BofA report
Key Quotes (3)
"I, Benjamin Bowler, hereby certify that the views expressed in this research report accurately reflect my personal views about the subject securities and issuers."Source
HOUSE_OVERSIGHT_014998.jpg
Quote #1
"Unlike owning or shorting a stock, employing any listed options strategy is by definition governed by a finite duration."Source
HOUSE_OVERSIGHT_014998.jpg
Quote #2
"BofA Merrill Lynch is currently acting as Financial Adviser to Glencore PLC..."Source
HOUSE_OVERSIGHT_014998.jpg
Quote #3
Full Extracted Text
Complete text extracted from the document (1,941 characters)
Options Risk Statement
Potential Risk at Expiry & Options Limited Duration Risk
Unlike owning or shorting a stock, employing any listed options strategy is by definition governed by a finite duration. The most severe risks associated with general options trading are total loss of capital invested and delivery/assignment risk, all of which can occur in a short period.
Potential Risk at Expiry & Options Limited Duration Risk
Unlike owning or shorting a stock, employing any listed options strategy is by definition governed by a finite duration. The most severe risks associated with general options trading are total loss of capital invested and delivery/assignment risk, all of which can occur in a short period.
Investor suitability
The use of standardized options and other related derivatives instruments are considered unsuitable for many investors. Investors considering such strategies are encouraged to become familiar with the "Characteristics and Risks of Standardized Options" (an OCC authored white paper on options risks). U.S. investors should consult with a FINRA Registered Options Principal. For detailed information regarding the risks involved with investing in listed options:
http://www.theocc.com/about/publications/character-risks.jsp
The use of standardized options and other related derivatives instruments are considered unsuitable for many investors. Investors considering such strategies are encouraged to become familiar with the "Characteristics and Risks of Standardized Options" (an OCC authored white paper on options risks). U.S. investors should consult with a FINRA Registered Options Principal. For detailed information regarding the risks involved with investing in listed options:
http://www.theocc.com/about/publications/character-risks.jsp
Analyst Certification
I, Benjamin Bowler, hereby certify that the views expressed in this research report accurately reflect my personal views about the subject securities and issuers. I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations or view expressed in this research report.
I, Benjamin Bowler, hereby certify that the views expressed in this research report accurately reflect my personal views about the subject securities and issuers. I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations or view expressed in this research report.
Special Disclosures
BofA Merrill Lynch is currently acting as Financial Adviser to Glencore PLC in connection with its proposed acquisition in consortium with Qatar Investment Authority, of a 19.5% stake on Rosneft PJSC, which was announced 10th December 2016.
BofA Merrill Lynch is currently acting as Financial Adviser to Glencore PLC in connection with its proposed acquisition in consortium with Qatar Investment Authority, of a 19.5% stake on Rosneft PJSC, which was announced 10th December 2016.
BofA Merrill Lynch is currently acting as financial adviser to Intesa Sanpaolo Group, Banco Santander SA, Warburg Pincus LLC and General Atlantic LLC in connection with the proposed sale of their entire stake in Allfunds Bank to Hellman & Friedman and GIC, which was announced on 7 March 2017.
Bank of America Merrill Lynch
Global Equity Volatility Insights | 20 June 2017 27
HOUSE_OVERSIGHT_014998
Global Equity Volatility Insights | 20 June 2017 27
HOUSE_OVERSIGHT_014998
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