<body.content> <block> <p>NEW YORK, Oct. 14 \/PRNewswire-FirstCall\/ — Meeting investor demand for greater liquidity, transparency and broader acceptance in a highly diversifiedcredit product, a consortium of eleven leading global dealers today announced the launch of “iBoxx CDX.NA.IG”, a 125-name tradable index of credit default swaps (“CDS”) on U.S. investment gradecompanies. The eleven-member consortium is comprised of ABN AMRO, Barclays Capital, Bear Stearns, Citigroup, Credit Suisse First Boston, Deutsche Bank, Goldman Sachs, HSBC, Lehman Brothers, MerrillLynch and UBS. The 125 names in iBoxx CDX.NA.IG are equally weighted and were determined using transparent rules designed to select a representative group of diversified U.S. investment gradeborrowers. iBoxx CDX.NA.IG will be segregated into five sectors: Industrials, Consumers, Energy, Financials and TMT.<\/p> <p>The specific names in iBoxx CDX.NA.IG will be distributedtomorrow by the members of the consortium. The index’s spread level will be set at 4:00 p.m. on Friday, October 17th, with trading to begin Monday under the Bloomberg Symbol “CDX CDS”.<\/p><p>iBoxx CDX.NA.IG will trade “No Restructuring” in unfunded swap format in both five- and ten-year maturities and, initially, the five sectors will trade in the five-year maturity. iBoxxCDX.NA.IG will be rebalanced semi-annually according to the rules, with any changes to the index’s composition implemented by iBoxx, the world’s first independent credit index provider with multiplecontributor pricing, and overall administrator of iBoxx CDX.NA.IG.<\/p> <p>In the near future, the consortium expects to announce iBoxx CDX.NA.IG options and tranches and the creation ofnew indexes comprised of High Yield and Emerging Market credits.<\/p> <p>The consortium issued a joint statement: “Eleven leading global credit derivative dealers committed to anopen-platform CDS index designed to easily allow for new qualified consortium members. This represents a breakthrough for liquidity, transparency and pricing in this vital sector of the U.S. creditmarkets. We believe that iBoxx acting as administrator will further enhance the open and independent nature of this index. We expect that the combination of dealer support and investor acceptancewill rapidly make iBoxx CDX.NA.IG the new standard for U.S. investment grade CDS index trading.”<\/p> <p>About ABN AMRO<\/p> <p>Netherlands-based ABN AMRO is a leadinginternational bank with total assets of more than USD 600bn. It has over 3,000 branches in 66 countries and territories, and has a staff of about 105,000 full time equivalents worldwide. ABN AMRO islisted on the Euronext, London and New York stock exchanges.<\/p> <p>ABN AMRO’s Wholesale Clients Strategic Business Unit provides integrated corporate and investment banking solutions toaround 10,000 corporate, institutional and public sector clients in over 45 countries. Its client-led approach is sector based and structured around four product groups: Financial Markets, whichincludes fixed income, syndicated loans, treasury, structured and project finance and risk management; Working Capital, which offers liquidity management, global payments and receivables and tradefinance; Corporate Finance & Equities, providing corporate advisory as well as equity capital markets expertise and secondary market services; and Private Equity. With a global network,specialists in all major industry sectors and a broad range of products, ABN AMRO provides local and global expertise for complex cross-border deals.<\/p> <p>About BarclaysCapital<\/p> <p>Barclays Capital is the investment banking division of Barclays PLC. The firm employs over 5,000 staff and has significant operations in all the world’s major financialcenters, including regional headquarters in London, New York, Hong Kong and Tokyo. Barclays Capital is debt focused, providing its clients with a broad range of financing and risk managementproducts. Barclays Capital acts internationally as intermediary and adviser to corporations, financial institutions, governments and supranational organizations, and has the global reach anddistribution power to meet the needs of issuers and investors worldwide.<\/p> <p>About Bear Stearns<\/p> <p>Founded in 1923, Bear, Stearns & Co. Inc. is a leadingworldwide investment banking and securities trading and brokerage firm, and the major subsidiary of The Bear Stearns Companies Inc. <org idsrc=”dummy” value=”dummy”><alt-code idsrc=”NYSE”value=”BSC”\/><\/org>. With approximately $34.4 billion in total capital, Bear Stearns serves governments, corporations, institutions and individuals worldwide. The company’s business includescorporate finance and mergers and acquisitions, institutional equities and fixed income sales, trading and research, private client services, derivatives, foreign exchange and futures sales andtrading, asset management and custody services. Through Bear, Stearns Securities Corp., it offers financing, securities lending, clearing and technology solutions to hedge funds, broker-dealers andinvestment advisors. Headquartered in New York City, the company has approximately 10,500 employees worldwide. For additional information about Bear Stearns, please visit the firm’s Web site at<a>http:\/\/www.bearstearns.com\/<\/a>.<\/p> <p>About Citigroup<\/p> <p>Citigroup <org idsrc=”dummy” value=”dummy”><alt-code idsrc=”NYSE”value=”C”\/><\/org>, the preeminent global financial services company with some 200 million customer accounts in more than 100 countries, provides consumers, corporations, governments andinstitutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management.Major brand names under Citigroup’s trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Travelers Life and Annuity. Additional information may be found at:<a>http:\/\/www.citigroup.com\/<\/a>.<\/p> <p>About Credit Suisse First Boston<\/p> <p>Credit Suisse First Boston (CSFB) is a leading global investment bank servinginstitutional, corporate, government and individual clients. CSFB’s businesses include securities underwriting, sales and trading, investment banking, private equity, financial advisory services,investment research, venture capital, correspondent brokerage services and asset management. CSFB operates in 69 locations in 34 countries across five continents. The Firm is a business unit of theZurich-based Credit Suisse Group, a leading global financial services company.<\/p> <p>About Deutsche Bank<\/p> <p>With roughly euro 851 billion in assets and approximately69,300 employees, Deutsche Bank <org idsrc=”dummy” value=”dummy”><alt-code idsrc=”NYSE” value=”DB”\/><\/org> offers its 13 million clients unparalleled financial services in 76countries throughout the world. Deutsche Bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders andpeople.<\/p> <p>Deutsche Bank ranks among the global leaders in corporate banking and securities, transaction banking, asset management, and private wealth management, and has asignificant private & business banking franchise in Germany and other selected countries in Continental Europe.<\/p> <p>Deutsche Bank Securities Inc. is the investment banking andsecurities arm of Deutsche Bank AG in the United States.<\/p> <p style=”pre” id=”pre1″> <a>http:\/\/www.deutsche-bank.com\/<\/a><\/p>\n
About Goldman Sachs <\/p> <p>Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of services worldwide to a substantial and diversified client base that includes corporations, financial institutions, governments and high net worth individuals. Founded in 1869, it is one of the oldest and largest investment banking firms. The firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.<\/p> <p>About HSBC Bank USA<\/p> <p>HSBC Bank USA is a member of the HSBC Group, an international banking and financial services organization with major commercial and investment banking franchises in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With some 180,000 employees, 9,500 offices in 80 countries, and a market capitalization of $128 billion, the HSBC Group is the world’s second largest financial institution. The HSBC Group offers a full range of commercial and investment banking services to private clients, corporations, financial institutions and governments around the globe. HSBC Holdings plc, the ultimate parent company of the HSBC Group, is headquartered in London.<\/p> <p>About iBoxx<\/p> <p>iBoxx was established in 2001 by ABN AMRO, Barclays Capital, BNP Paribas, Deutsche Bank, Deutsche Borse, Dresdner Kleinwort Wasserstein, Morgan Stanley and UBS Investment Bank. Its mission is to calculate and publish a new generation of fixed income prices and indices, based on the principles of multiple contributor pricing, neutrality, third party quality control, transparency and open access to market participants. iBoxx indices have established themselves as the benchmark of choice among leading asset managers in Europe. A family of US Dollar cash bond indices will be launched in early 2004 in conjunction with RiskMetrics.<\/p> <p>About Lehman Brothers<\/p> <p>Lehman Brothers <org idsrc=”dummy” value=”dummy”><alt-code idsrc=”NYSE” value=”LEH”\/><\/org>, an innovator in global finance, serves the financial needs of corporations, governments and municipalities, institutional clients, and high-net-worth individuals worldwide. Lehman Brothers maintains leadership positions in equity and fixed income sales, trading and research, investment banking, private equity, and private client services. The Firm is headquartered in New York, London, and Tokyo and operates in a network of offices around the world. For further information about Lehman Brothers’ services, products, and recruitment opportunities, visit our Web site at <a>http:\/\/www.lehman.com\/<\/a>.<\/p> <p>About Merrill Lynch<\/p> <p>Merrill Lynch is one of the world’s leading financial management and advisory companies, with offices in 36 countries and total client assets of approximately $1.4 trillion. As an investment bank, it is a leading global underwriter of debt and equity securities and strategic advisor to corporations, governments, institutions and individuals worldwide. Through Merrill Lynch Investment Managers, the company is one of the world’s largest managers of financial assets, with assets under management of $473 billion. For more information on Merrill Lynch, please visit <a>http:\/\/www.ml.com\/<\/a>.<\/p> <p>About UBS<\/p> <p>UBS is one of the world’s leading financial firms, combining financial strength with a reputation for innovation and a global culture that embraces change.<\/p> <p>UBS is the world’s largest wealth manager, a premier investment banking and securities firm, and one of the largest global asset managers. In Switzerland, UBS is the market leader in retail and commercial banking.<\/p> <p>UBS, headquartered in Zurich and Basel, employs almost 67,000 people, and has operations in over 50 countries and in all major financial centers. <\/p> <datasource>Lehman Brothers<\/datasource> <\/block> <block class=”contact”> <p>CONTACT: Press Inquiries: Kerrie Cohen, Corporate Communications of<br\/>Lehman Brothers, +1-212-526-4092; Kimberly Williams, Corporate Communications<br\/>of ABN AMRO, +1-212-409-7569; Linda Wynns, Corporate Communications of<br\/>Barclays Capital, +1-212-412-3825; Michele Agostinho, Corporate Communications<br\/>of Bear Stearns, +1-212-272-7023; Danielle Romero-Apsilos, Corporate and<br\/>Investment Banking Group Communications of Citigroup, +1-212-816-2264; Pen<br\/>Pendleton, Corporate Communications of Credit Suisse First Boston,<br\/>+1-212-325-2590; Harriet Benson, Press Office of Deutsche Bank,<br\/>+1-212-250-4864; Bruce Corwin, VP, Media Relations of Goldman Sachs,<br\/>+1-212-357-5550; Kathleen Rizzo Young, First Vice President, Group Public<br\/>Affairs of HSBC, +1-716-841-5003; Michael Duvally, Media Relations of Merrill<br\/>Lynch, +1-212-449-3260; or Kris Kagel, UBS Corporate Communications of UBS,<br\/>+1-212-713-8703<\/p> <\/block> <block class=”website”> <p>Web site: <a>http:\/\/www.lehman.com\/<\/a><br\/><a>http:\/\/www.bearstearns.com\/<\/a><br\/><a>http:\/\/www.citigroup.com\/<\/a><br\/><a>http:\/\/www.deutsche-bank.com\/<\/a><br\/><a>http:\/\/http\/\/www.ml.com<\/a> <\/p> <\/block> <\/body.content><\/p>\n","protected":false},"excerpt":{"rendered":"
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