Investors Try to Replace Yield as Notes Redeemed

U.S. investors are increasingly losing attractive terms on structured notes as banks redeem more of the securities this year because of their improving health and soaring stock markets.

Issuers have called $5.74 billion of notes in 2013, 42 percent more than the $4.05 billion through the same period last year, according to data compiled by Bloomberg. About 7,500 securities capable of being redeemed that were issued since January 2010, when Bloomberg started to collect comprehensive data on the products in the U.S., were examined.

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