• Sam Wares

SSA Bonds Settlement



SSA Bonds Antitrust Settlement


Settlement Fund: $95,500,000

Class Period: January 1, 2005 – March 6, 2019

Claim Filing Deadline: April 16, 2021


Overview

Investors allege the Defendants rigged the market for bonds issued by foreign governments, creating antitrust harm. SSA bonds are issued by a variety of international entities, including, among others: provinces and states, regional development banks, infrastructure borrowers such as highway and bridge authorities, social security funds, export creditors, and rail sector entities.


Eligibility

All persons or entities who, from January 1, 2005 to March 6, 2019 entered into an SSA bond transaction with a Defendant; a direct or indirect parent, subsidiary, affiliate, or division of a Defendant; a Released Party; or an alleged co-conspirator, where such Persons were either domiciled in the United States or its territories or, if domiciled outside of the United States or its territories, entered into an SSA bond transaction in the United States or its territories or that otherwise involved United States trade or commerce.

Defendants

Bank of America Corporation, Bank of America, N.A., Merrill Lynch International, Bank of America Merrill Lynch International Limited, Merrill Lynch, Pierce, Fenner & Smith Incorporated (collectively, “Bank of America”), Deutsche Bank AG, Deutsche Bank Securities Inc. (collectively, “Deutsche Bank”), HSBC Securities (USA) Inc. and HSBC Bank plc (collectively, “HSBC,” and together with Bank of America and Deutsche Bank, “Settling Defendants”) in a class action against the Settling Defendants; and Barclays Bank plc, Barclays Capital Inc., Barclays Services Limited, Barclays Capital Securities Limited, BNP Paribas S.A., BNP Paribas Securities Corp., Citigroup Inc., Citibank N.A., Citigroup Global Markets Inc., Citigroup Global Markets Limited, Crédit Agricole Corporate and Investment Bank, Credit Suisse AG, Credit Suisse Securities (USA) LLC, Credit Suisse Securities (Europe) Limited, Credit Suisse International, Nomura Securities International, Inc., Nomura International plc, Royal Bank of Canada, RBC Capital Markets, LLC, RBC Europe Limited, The Toronto-Dominion Bank, TD Securities (USA) LLC, Hiren Gudka, Bhardeep Singh Heer, Amandeep Singh Manku, Gary McDonald, and Shailen Pau (“Non-Settling Defendants,” and together with Settling Defendants, “Defendants”).


Filing Requirements

MCAG clients must provide the information shown below for MCAG to submit a complete and valid claim.


-List of the Defendant(s) with whom you entered into an SSA bond transaction between January 1, 2009 and March 6, 2019.


-Provide the following Total Notional Amounts of transactions with a Defendant Counterparty:

  • U.S. Dollar denominated SSA Bond transactions with a Defendant, between January 1, 2009 and December 31, 2015:

  • Non-U.S. Dollar denominated SSA Bond transactions with a Defendant, between January 1, 2009 and December 31, 2015:

  • U.S. Dollar denominated SSA Bond transactions with a Defendant, between January 1, 2005 and December 31, 2008, OR between January 1, 2016 and March 6, 2019:

  • Non-U.S. Dollar denominated SSA Bond transactions with a Defendant, between January 1, 2005 and December 31, 2008 OR between January 1, 2016 and March 6, 2019.


Need more information? Call MCAG at 1-800-355-0466 to learn more or CLICK HERE to complete our contact form and an MCAG representative will respond shortly.
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