Facebook Volatility Draws Record Structured Notes Buyers
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Banks are selling a record amount of U.S. structured notes tied to the stocks of fast-growing, volatile technology companies such as Facebook Inc. and Twitter Inc.
Sales of securities linked to Facebook soared to $457.6 million this year, more than double the $204.2 million issued during the same period of 2013, according to data compiled by Bloomberg. The social media company, founded by billionaire Mark Zuckerberg, went public in 2012.