BBN Short Bank Series: A bit of a stretch

Key Points Will have some appeal to a select crowd Pitch is attractive but the terms much less so Better, more flexible, cheaper ways of punting on the same outcome The Product The snappily-named BBN Short Bank Series 1 Deferred Purchase Agreements (DPAs) is refreshing in many ways. Whilst recent hybrid offers pay an above market coupon as compensation for risks the issuer hopes you won’t notice, BBN Short Bank DPA does the opposite. Issuers BBN Asset Management and Instreet Investment have designed it as an explicit hedge against a housing market fall and a fragile global economy. It asks investors...

The snappily-named BBN Short Bank Series 1 Deferred Purchase Agreements (DPAs) is refreshing in many ways. Whilst recent hybrid offers pay an above market coupon as compensation for risks the issuer hopes you won’t notice, BBN Short Bank DPA does the opposite.

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