BofA-Tied Notes Lead Single-Stock-Linked Jump
Sales of U.S. structured notes tied to Bank of America Corp. have soared this year as issuance of securities linked to a single stock increases, with investors accepting higher volatility for potentially greater gains.
Banks sold $259.2 million of notes tied to the Charlotte, North Carolina-based lender this year through Oct. 4, more than five times the $46.4 million during the same period in 2012, according to data compiled by Bloomberg. Total U.S. issuance of securities linked to single stocks rose 24 percent to $6.3 billion.
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