Synthetic funds having structured notes
First Claim
1. A computer-implemented process for creating and issuing instruments for a synthetic fund, comprising:
- electronically receiving at a non-transitory processor a request from a purchaser transmitted over a computer network for at least one customized structured note, where the request comprises;
an amount of the at least one structured note; and
at least one term of the at least one structured note including the selection by the purchaser of multiple objective valuation measures (OVM) to provide a desired investment exposure;
wherein the selected OVMs have publicly available performance data such that the performance of the customized structured note is ascertainable;
electronically generating at a non-transitory processor the at least one customized structured note based on the request;
receiving at a non-transitory processor payment for the at least one cuztomized structured note; and
electronically issuing the at least one structured note, where the at least one structured note is an unsecured liability of the obligor in which the obligor is expressly under no obligation to purchase assets corresponding to the selected OVMs or to otherwise purchase assets specifically securing the obligation to the purchaser under the customized structured note.
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Accused Products
Abstract
The present invention relates to synthetic funds for purchase by investors. A structured note is structured to provide customized equity returns/exposure. Terms of each structured note may be specified by the purchaser and the structured notes may be unsecured liabilities of the obligor, e.g., there are no underlying assets upon which the structure note is based. Thus, there will be no limits on the use of structured note proceeds and management of assets and liabilities will be left entirely to the obligor'"'"'s discretion. Structured note payment obligations may be related to the performance of an objective valuation, but structured note holders will depend on the good credit of the obligor for payment.
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Citations
57 Claims
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1. A computer-implemented process for creating and issuing instruments for a synthetic fund, comprising:
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electronically receiving at a non-transitory processor a request from a purchaser transmitted over a computer network for at least one customized structured note, where the request comprises; an amount of the at least one structured note; and at least one term of the at least one structured note including the selection by the purchaser of multiple objective valuation measures (OVM) to provide a desired investment exposure; wherein the selected OVMs have publicly available performance data such that the performance of the customized structured note is ascertainable; electronically generating at a non-transitory processor the at least one customized structured note based on the request; receiving at a non-transitory processor payment for the at least one cuztomized structured note; and electronically issuing the at least one structured note, where the at least one structured note is an unsecured liability of the obligor in which the obligor is expressly under no obligation to purchase assets corresponding to the selected OVMs or to otherwise purchase assets specifically securing the obligation to the purchaser under the customized structured note. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. A computer implemented process for creating and issuing instruments for a synthetic fund, comprising:
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receiving at a computer an electronic request to purchase at least one customized structured note, where the request comprises; an amount of the at least one structured note; and at least one term of the at least one structured note, where the at least one term of the note includes; a) a selection of multiple objective valuation measures (OVM) to provide a desired investment exposure, wherein the selected OVMs have publicly available performance data such that the performance of the customized structured note is ascertainable; b) a valuation of the at least one structured note based on the selected objective valuation measures; and c) a time period for redeeming the at least one structured note. electronically generating, using a computer, the at least one structured note based on the request; receiving, at a computer, payment for the at least one structured note; and electronically issuing the at least one customized structured note, where the at least one structured note is an unsecured liability of the obligor in which the obligor is expressly under no obligation to purchase assets corresponding to the selected OVMs or to otherwise purchase assets specifically securing the obligation to the purchaser under the customized structured note. - View Dependent Claims (9, 10, 11, 12)
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13. A computer-implemented process for creating and issuing a synthetic fund comprising:
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receiving at a non-transitory processor an electronic request to purchase at least one customized structured note, where the request comprises; an amount of the at least one structured note; and at least one term of the at least one structured note, where the at least one term of the note includes; a) identification of multiple objective valuation measures (OVM) to provide an investment exposure, wherein the OVMs have publicly available performance data such that the performance of the customized structured note is ascertainable; b) a valuation of the at least one structured note based on said objective valuation measures, where the valuation is based on the objective valuation measures without a predetermined amount of fees associated with the objective evaluation measures; and c) a time period for redeeming the at least one structured note, where the valuation of the at least one structured note is based in part on the time period for redeeming the at least one structured note; electronically generating, using a non-transitory processor, the at least one structured note based on the request; receiving, at a processor, payment for the at least one structured note, where the payment for the structured note is based on the objective valuation measure at the time of issuance; and issuing the at least one customized structured note, where the at least one structured note is an unsecured liability of the obligor in which the obligor is expressly under no obligation to purchase assets corresponding to the selected OVMs or to otherwise purchase assets specifically securing the obligation to the purchaser under the customized structured note. - View Dependent Claims (14)
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15. A computer-implemented system for issuing a customized structured note for a synthetic fund, the system comprising:
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a non-transitory first memory location storing a request module executable on a processor for receiving a request for a customized structured note, the request including a selection of multiple objective valuation measures (OVM) to provide a desired investment exposure, wherein the selected OVMs have publicly available performance data such that the performance of the customized structured note is ascertainable; a non-transitory second memory location storing a generating module executable on a processor for generating the structured note; non-transitory third memory location storing a purchase module executable on a processor for receiving payment to purchase the structured note; and a non-transitory fourth memory location storing an issuing module executable on a processor for issuing the structured note in response to the request, where the structured note is an unsecured liability of the obligor in which the obligor is expressly under no obligation to purchase assets corresponding to the selected OVMs or to otherwise purchase assets specifically securing the obligation to the purchaser under the customized structured note. - View Dependent Claims (16, 17, 18, 19, 20, 21, 22, 23, 24, 25)
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26. A computer-implemented system for issuing a customized structured note for a synthetic fund, the system comprising:
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a first non-transitory memory location storing a request module executable by a computer for receiving a request to purchase the customized structured note, where the request comprises the terms of the structured note and the amount of purchase, and where the terms of the at least one structured note further comprise the valuation of the structured note and a time period for redeeming the at least one structured note; where the terms include multiple objective valuation measures (OVM) to provide a desired investment exposure, wherein the selected OVMs have publicly available performance data such that the performance of the customized structured note is ascertainable; a second non-transitory memory location storing a generating module executable by a computer for generating the structured note, where the generating module generates a unique identifier for the structured note and where the purchaser has an identifier; a third non-transitory memory location storing a purchase module executable by a computer for receiving payment to purchase the structured note; a fourth non-transitory memory location storing an issuing module executable by a computer for issuing the structured note in response to the request, where the structured note is an unsecured liability of the obligor in which the obligor is expressly under no obligation to purchase assets corresponding to the selected OVMs or to otherwise purchase assets specifically securing the obligation to the purchaser under the customized structured note; and a fifth non-transitory memory location that stores and links the unique identifier for the structured note and the purchaser identifier. - View Dependent Claims (27, 28, 29, 30, 31, 32)
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33. A computer-based system for issuing a customized structured note for a synthetic fund, the system comprising:
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means for receiving an electronic request to purchase the customized structured note, where the request comprises the terms of the structured note and the amount of purchase, and where the terms of the at least one structured note further comprise the valuation of the structured note and a time period for redeeming the at least one structured note; and where the terms include multiple objective valuation measures (OVM) to provide a desired investment exposure, wherein the selected OVMs have publicly available performance data such that the performance of the customized structured note is ascertainable; means for electronically generating the structured note, where the generating module generates a unique identifier for the structured note and where the purchaser has an identifier; means for receiving electronic payment to purchase the structured note; means for issuing the structured note in response to the request, where the structured note is an unsecured liability of the obligor in which the obligor is expressly under no obligation to purchase assets corresponding to the selected OVMs or to otherwise purchase assets specifically securing the obligation to the purchaser under the customized structured note; and means for electronically storing and linking the unique identifier for the structured note and the purchaser identifier. - View Dependent Claims (34, 35, 36, 37, 38, 39, 44)
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40. A non-transitory computer readable medium for causing a computer to issue a structured note for a synthetic fund, the medium comprising computer executable instructions that upon execution perform the following operations:
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receiving an electronic request to purchase the structured note, the request including multiple selected objective valuation measures (OVM) to provide a desired investment exposure, wherein the selected OVMs have publicly available performance data such that the performance of the customized structured note is ascertainble; generating the structured note; receiving payment to purchase the structured note; and issuing the structured note in response to the request, where the structured note is an unsecured liability of the obligor in which the obligor is expressly under no obligation to purchase assets corresponding to the selected OVMs or to otherwise purchase assets specifically securing the obligation to the purchaser under the customized structured note. - View Dependent Claims (41, 42, 43, 45, 46, 47, 48, 49, 50)
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51. A non-transitory computer readable medium storing code for causing a processor to issue a structured note for a synthetic fund, the code upon execution performing the following operations:
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receiving a request to purchase the structured note, where the request comprises the terms of the structured note and the amount of purchase, and where the terms of the at least one structured note further comprise the valuation of the structured note and a time period for redeeming the at least one structured note; where terms include multiple selected objective valuation measures (OVM) to provide a desired investment exposure, wherein the selected OVMs have publicly available performance data such that the performance of the customized structured note is ascertainable; generating the structured note, where the generating module generates a unique identifier for the structured note and where the purchaser has an identifier; receiving payment to purchase the structured note; issuing the structured note in response to the request, where the structured note is an unsecured liability of the obligor in which the obligor is expressly under no obligation to purchase assets corresponding to the selected OVMs or to otherwise purchase assets specifically securing the obligation to the purchaser under the customized structured note; and storing and linking the unique identifier for the structured note and the purchaser identifier. - View Dependent Claims (52, 53, 54, 55, 56, 57)
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Specification