Skip to content
Subscriber Only

Fees on Structured Notes Tied to Stocks Climb to Three-Year High

Banks charged almost 2 percent in average fees on U.S. structured notes tied to stocks in the first quarter, the most for any three-month period in at least three years.

Issuers and underwriters earned $137.7 million in disclosed fees, or 1.95 percent of the $7.08 billion of equity-tied securities that paid a commission, according to data compiled by Bloomberg from offering documents. Non-fee paying notes were excluded because they’re generally sold to financial advisers who charge for their services separately.