Apple Set to Rise to Second Most-Used Underlying

Sales of U.S. structured notes tied to the share price of Apple Inc. climbed to $1.47 billion this year, on the verge of overtaking the London interbank offered rate as the second most commonly linked underlying.

Investors bought $357.2 million of notes in 104 offerings tied to the world’s most valuable company in October, the biggest sales month since January 2010, according to data compiled by Bloomberg. That compares with $19 million in two deals linked to Libor, the rate that banks say they can borrow in dollars from each other, which totals $1.473 billion for the year.

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