Russell J Stein

US Patent:

7219079, May 15, 2007

Filed:

Aug 12, 2002

Appl. No.:

10/476705

Inventors:

David K Dolan - Annandale VA, US
Jeffrey N. Edwards - Basking Ridge NJ, US
Yonathan Epelbaum - New York NY, US
Frederick J. Fiddle - Ridgewood NJ, US
Emerson P. Jones - Greenwich CT, US
Stuart C. Kaperst - New York NY, US
Todd K. Kaplan - Winnetka IL, US
Daniel Y. Kerstein - Woodsburgh NY, US
Dragomir Kolev - New York NY, US
Richard P. Luciano - Morristown NJ, US
Paul A. Pepe - New York NY, US
Eric Steifman - New York NY, US
Russell L. Stein - Englewood Cliffs NJ, US
Brennan J. Warble - Bronxville NY, US
Richard J. Green - Woodbury NY, US
Robert A Rudnick - Queenstown MD, US
Frank R Strong - McLean VA, US

International Classification:

G06Q 40/00

US Classification:

705 36T, 705 36 R, 705 35

Abstract:

A convertible financial instrument provides incentives to holders to keep the instruments outstanding so that issuers maintain flexibility and control over the maturity date of the instrument and the manner in which it is settled. The instrument may provide issuers with the ability to deduct an amount for tax purposes that approximates the true economic cost of the financial instrument. The instrument may contain a provision calling for contingent payments (which may include, for example, contingent interest, preferred distributions, contingent principal, dividends, and other pay-outs) to the holder in some circumstances, which may be based on formulae calculations. For example, this may occur when the trading value of the convertible instrument exceeds a predetermined value such as, for example, a certain percentage of the accredited value of the convertible instrument, or, for example, another circumstance that may trigger a contingent payment may be when the price of another financial instrument (e. g. , the underlying security, the reference security, etc. ) is below, higher than, or equal to a pre-determined value.

US Patent:

7987129, Jul 26, 2011

Filed:

Aug 12, 2002

Appl. No.:

10/064745

Inventors:

David K. Dolan - Annandale VA, US
Jeffrey N. Edwards - Basking Ridge NJ, US
Yonathan Epelbaum - New York NY, US
Frederick J. Fiddle - Ridgewood NJ, US
Emerson P. Jones - Greenwich CT, US
Stuart C. Kaperst - New York NY, US
Todd K. Kaplan - Winnetka IL, US
Daniel Y. Kerstein - Woodsburgh NY, US
Dragomir K. Kolev - New York NY, US
Richard P. Luciano - Morristown NJ, US
Paul A. Pepe - New York NY, US
Eric Steifman - New York NY, US
Russell L. Stein - Englewood Cliffs NJ, US
Brennan J. Warble - Bronxville NY, US
Richard J. Green - Woodbury NY, US
Robert A. Rudnick - Queenstown MD, US
Frank R. Strong - McLean VA, US

Assignee:

Bank of America Corporation - Charlotte NC

International Classification:

G06Q 40/00

US Classification:

705 36R, 705 35

Abstract:

A convertible financial instrument provides incentives to holders to keep the instruments outstanding so that issuers maintain flexibility and control over the maturity date of the instrument and the manner in which it is settled. The instrument may provide issuers with the ability to deduct an amount for tax purposes that approximates the true economic cost of the financial instrument. The instrument may contain a provision calling for contingent payments (which may include, for example, contingent interest, preferred distributions, contingent principal, dividends, and other pay-outs) to the holder in some circumstances, which may be based on formulae calculations. For example, this may occur when the trading value of the convertible instrument exceeds a pre-determined value such as, for example, a certain percentage of the accreted value of the convertible instrument, or, for example, another circumstance that may trigger a contingent payment may be when the price of another financial instrument (e. g. , the underlying security, the reference security, etc. ) is below, higher than, or equal to a pre-determined value.