TCREUR_Public/120312.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                           E U R O P E

            Monday, March 12, 2012, Vol. 13, No. 51

                            Headlines



C Z E C H  R E P U B L I C

SAZKA AS: Canero Acquires Two Subsidiaries
SAZKA AS: Insolvency Administrator Starts Payments to Creditors


G E R M A N Y

GERMAN RESIDENTIAL: S&P Affirms 'B' Rating on Class F Notes
MARSEILLE-KLINIKEN: S&P Affirms 'B' Long-Term Corp. Credit Rating
PROCREDIT HOLDING: Fitch Affirms 'BB-' Rating on Preferred Secs.


G R E E C E

LANDSBANKI ISLANDS: Malcolm Walker Buys Stake in Iceland Foods
NEW ECONOMY: Fitch Cuts Rating on EUR204.1-Mil. Notes to 'CCsf'
* GREECE: Use of CACs Trigger US$3BB Credit-Default Swap Payouts


I R E L A N D

BROOKS: Obtains Bankruptcy Protection; Interim Examiner Appointed
EIRCOM GROUP: To Press Ahead with Plans Amid Examinership Rumors
FALLON & BYRNE: Court Protection Extended to 100 Days
MR. BINMAN: Gets Offers From Potential Buyers


N E T H E R L A N D S

CAIRN CLO: S&P Raises Rating on Class D Notes to 'BB-'
ZIGGO BOND: S&P Puts 'B+' Corp. Credit Rating on Watch Positive


P O R T U G A L

BANCO SANTANDER: S&P Lowers Ratings on Mortgage Covered Bonds
* S&P Takes Various Rating Actions on Portuguese RMBS Deals


R U S S I A

CB INTERCOMMERZ: S&P Assigns 'B-/C' Counterparty Credit Ratings
CENTRAL EUROPEAN: Moody's Cuts CFR to Caa1, Notes Rating to B3


U N I T E D   K I N G D O M

EPIC PLC: S&P Affirms 'BB' Rating on Class F Notes
LEHMAN BROTHERS: In Fight With Swiss Unit Over Guarantees, Loans


X X X X X X X X

* BOND PRICING: For the Week March 5 to March 9, 2012


                            *********


==========================
C Z E C H  R E P U B L I C
==========================


SAZKA AS: Canero Acquires Two Subsidiaries
------------------------------------------
CTK, citing daily Mlada fronta Dnes, reports that investment
groups PPF and KKCG, which took over Sazka AS, have sold Agro
Tera and Arkadia, two of the company's subsidiaries, to
Amsterdam-based Canero based in Amsterdam in the Netherlands.

Agro Tera and Arkadia are real estate companies which own more
than 300 hectares of land near Prague and Trutnov, eastern
Bohemia, CTK discloses.

Canero is represented in the Czech Republic by Vaclav Stajner who
worked on real estate projects for group Penta Investments
several years ago, CTK says.

As reported by the Troubled Company Reporter-Europe on Nov. 7,
2011, CTK, citing information published in the insolvency
register, related that the Ceska sporitelna (CS) bank filed a
suit against Sazkova kancelar, the new owner of Sazka AS, as well
as against Sazka insolvency administrator Josef Cupka due to the
contract on Sazka's sale.  CS, to which Sazka owes about CZK216
million, also expressed doubts about impartiality of judge
Jaromir Harmach who was in  charge of Sazka's insolvency
proceedings,CTK disclosed.  At the end of September, CS proposed
that the court abolish the tender for Sazka's sale and declare a
new one, CTK related.  The Municipal Court in Prague, however,
turned down the request and approved the sale of Sazka to Sazkova
kancelar, a company owned jointly by the PPF and KKCG groups, CTK
noted.

Sazka AS is a provider of lotteries and sport betting games in
the Czech Republic.


SAZKA AS: Insolvency Administrator Starts Payments to Creditors
---------------------------------------------------------------
CTK reports that Lenka Ticha, the spokesman of Sazka AS
insolvency administrator Josef Cupka, on Friday started payments
to creditors of the bankrupt company and transferred
CZK567 million from the sale of the bankruptcy assets to the
account of secured creditor The Bank of New York Mellon.

Sazka was declared bankrupt at the end of May 2011, CTK recounts.

According to CTK, Mr. Cupka was able to start the payments when
the High Court confirmed the first-instance court's decision and
rejected the appeal of the firm Gladiolus.  The payment to the
secured creditor was decided by the Prague City Court on
January 12, 2012, CTK relates.

Sazka AS is a provider of lotteries and sport betting games in
the Czech Republic.


=============
G E R M A N Y
=============


GERMAN RESIDENTIAL: S&P Affirms 'B' Rating on Class F Notes
-----------------------------------------------------------
Standard & Poor's Ratings Services lowered its credit ratings on
German Residential Asset Note Distributor PLC's (GRAND) class A
and B notes. "At the same time, we affirmed our ratings on the
class C, D, E, and F notes, and removed from CreditWatch negative
our rating on the class A notes," S&P said.

GRAND is a secured-loan (as represented by the real-estate
funding [REF] notes issued by each of the 29 REF borrowers)
German multifamily housing transaction that closed in July 2006
with a note balance of EUR5,416,000,000 (excluding up to EUR133
million of class C treasury notes). It was originated by Barclays
Bank PLC and Citigroup Global Markets Ltd. Additionally, there is
senior, existing subsidized and nonsubsidized debt of EUR1.446
billion. Loan maturity is in July 2013 and note maturity in July
2016.

"We have taken 's rating actions in light of our view on the
significant refinance risks associated with the upcoming loan
maturity, and--given the size of the portfolio--the relatively
limited timeframe of three years to repay the loan ahead of note
maturity," S&P said.

"The current securitized loan balance is EUR4,517,208,300 and the
whole-loan balance is EUR5,669,985,662 (including senior
subsidized debt). The loan continues to perform well, in our
view, with stable financial ratios: The whole-loan loan-to-value
(LTV) ratio is 73% and the securitized LTV ratio is 59%, while
the whole-loan interest coverage ratio is 1.15x against a
covenant of 1.05x," S&P said.

"The borrower has continued to sell individual properties, with
the number of residential units now totaling 162,053--down from
164,365 at closing. During Q4 2011, the borrower sold 1,147 units
(and 818 in Q3 2011). At the portfolio level, rents have
continued to increase to EUR5.13/sq m at the end of Q4 2011 from
EUR5.07/sq m in the previous quarter, while the vacancy rate has
declined to 4.53% from 5.11%," S&P said.

"Deutsche Annington (Terra Firma) (DAIG; the borrower) and the
Blackstone Group (its financial adviser) have started considering
possible options for a future restructuring," S&P said. According
to a special notice that S&P received in October 2011:

"DAIG has informed the Issuer that it met with the Ad-Hoc Group
  of noteholders on an unrestricted basis on 7 October 2011 to
  discuss a revised timetable and process for agreeing the
  commercial terms of the proposal to 'amend and extend' the
  Grand Securitisation through a solvent scheme of arrangement. A
  further notice received on March 6, 2012 stated that
  discussions with the Ad-Hoc Group of noteholders were 'nearing
  finality."

"We note in press reports that Deutsche Annington plans to
refinance EUR500 million per year after splitting the property
portfolio into smaller subportfolios, and that it expects an
increase in the loan and note margins in return for the debt
extension. Given the target of EUR500 million per year, compared
with an earlier media-reported figure of EUR1 billion per year,
this reduced annual refinancing target is likely to be a
reflection of the worsening European (and German) commercial
real-estate lending markets, where we have seen signs of renewed
retrenchment in recent months," S&P said.

"In 2009, we lowered our ratings on all classes of notes in the
transaction to reflect our view that, in the context of current
pressures in the lending markets, refinancing may prove difficult
given the size of the securitized loan. If the borrower fails to
repay the loan at its maturity date in 2013, only three years
will remain to recover full note proceeds, which may necessitate
splitting the portfolio into more manageable lot sizes to
refinance or sell. In our view, if current market conditions
persist, it could take more than three years to refinance or sell
a portfolio of this size, even if it is split into smaller
chunks," S&P said.

"Based purely on the loan's credit metrics, we consider that the
senior classes of notes could achieve higher ratings than those
we assigned . However, we consider that the specific nature of
this transaction results in a much higher refinance risk when
compared to smaller transactions. In our opinion, the increased
risk outweighs the positive credit indicators. Therefore, we have
lowered our ratings on the class A and B notes to 'A (sf)' and
'BBB- (sf)' to reflect our view on increased credit risk. We have
affirmed our ratings on the class C to F notes to reflect their
credit performance. In our view, refinance risk is already
reflected in our ratings on these notes," S&P said.

           Potential Effects of Proposed Criteria Changes

"We have taken the rating actions based on our criteria for
rating European commercial mortgage-backed securities (CMBS).
However, these criteria are under review," S&P said.

"As highlighted in the Nov. 8 Advance Notice of Proposed Criteria
Change, we expect to publish a request for comment (RFC)
outlining our proposed criteria changes for rating European CMBS
transactions. Subsequently, we will consider market feedback
before publishing our updated criteria. Our review may result
in changes to the methodology and assumptions we use when rating
European CMBS, and consequently, it may affect both new and
outstanding ratings on European CMBS transactions," S&P said.

"Until such time that we adopt new criteria for rating European
CMBS, we will continue to rate and surveil these transactions
using our existing criteria," S&P said.

            Standard & Poor's 17g-7 Disclosure Report

Sec Rule 17g-7 requires an NRSRO, for any report accompanying a
credit rating relating to an asset-backed security as defined in
the Rule, to include a description of the representations,
warranties and enforcement mechanisms available to investors and
a description of how they differ from the representations,
warranties and enforcement mechanisms in issuances of similar
securities. The Rule applies to in-scope securities initially
rated (including preliminary ratings) on or after Sept. 26, 2011.

If applicable, the Standard & Poor's 17g-7 Disclosure Report
included in this credit rating report is available at:

         http://standardandpoorsdisclosure-17g7.com

Ratings List

German Residential Asset Note Distributor PLC
5.815 Billion Secured Floating-Rate Notes

Class               Rating
             To                From

Ratings Lowered

A            A (sf)            A+ (sf)/Watch Neg
B            BBB- (sf)         BBB (sf)

Ratings Affirmed

C            BB+ (sf)          BB+ (sf)
D            BB (sf)           BB (sf)
E            BB- (sf)          BB- (sf)
F            B (sf)            B (sf)


MARSEILLE-KLINIKEN: S&P Affirms 'B' Long-Term Corp. Credit Rating
-----------------------------------------------------------------
Standard & Poor's Ratings Services affirmed the 'B' long-term
corporate credit rating on Germany-based private nursing-care
provider Marseille-Kliniken AG. "We subsequently withdrew the
rating. At the time we withdrew the rating, the outlook was
stable," S&P said.

"The rating reflected Marseille-Kliniken's highly leveraged
financial profile, in our opinion, including high lease-adjusted
debt levels, and our view that Marseille's corporate governance
profile is still subpar, reflecting significant management
turnover over the past few years and related-party transactions
with the majority-owner family. The rating was supported by
Marseille-Kliniken's good competitive position in highly
fragmented markets, an aging population, and the predictable
growth in future nursing-care needs," S&P said.

Marseille-Kliniken had EUR57 million total financial debt as of
Dec. 31, 2011.


PROCREDIT HOLDING: Fitch Affirms 'BB-' Rating on Preferred Secs.
----------------------------------------------------------------
Fitch Ratings has affirmed ProCredit Holding AG & Co. KGaA's
(PCH) EUR65 million issue of Tier 1 perpetual, non-cumulative,
non-voting trust preferred securities (TPS) at 'BB-'.  At the
same time, the agency has removed the TPS from Rating Watch
Negative (RWN).

The TPS were placed on RWN on December 15, 2011, following the
publication of Fitch's revised criteria for assigning credit
ratings to regulatory capital and similar securities issued by
banks.  As a result of this revised criteria a large number of
entities' (mainly banks) subordinated debt and hybrid securities
were placed on RWN.

Under the revised criteria, bank regulatory capital securities
are notched down from an anchor rating to reflect an assessment
of loss severity relative to the "average" recoveries assumed for
typical bank senior debt and an assessment of incremental non-
performance risk relative to the point at which a bank might be
deemed to have "failed" or become "non-viable".  The anchor
rating for PCH's Tier 1 issue is its Long-term Issuer Default
Rating (IDR), as opposed to its Viability Rating, which is the
approach generally applied.

In PCH's case, the notching from the IDR reflects Fitch's opinion
that potential support from PCH's shareholders, which drives
PCH's own Long-term IDR, also helps reduce the non-performance of
these instruments.  As such, their rating is sensitive to any
change in PCH's IDR.  The holders of the TPS largely consist of
PCH's shareholders or creditors, who typically share PCH's
developmental goals.

The three notch difference between PCH's IDR and the rating of
the TPS consists of two notches for loss severity, to reflect the
deeply subordinated status of this instrument, and one notch for
non-performance.  Notwithstanding the high probability of support
which would underpin the performance of the TPS, in Fitch's view,
the terms and conditions of the notes, and notably the triggers
for non-payment of the coupon, leave some, albeit low,
incremental risk of non-performance.

The rating actions are as follows:

  -- Non-cumulative, perpetual preference shares: affirmed at
     'BB-', removed from RWN.
  -- Long-term foreign currency Issuer Default Rating (IDR):
     'BBB-'; Outlook Stable, unaffected
  -- Short-term foreign currency IDR: 'F3'; unaffected
  -- Short-term foreign currency IDR: 'F3'; unaffected
  -- Viability Rating 'bb-'; unaffected
  -- Individual Rating 'D'; unaffected
  -- Support Rating '2'; unaffected.


===========
G R E E C E
===========


LANDSBANKI ISLANDS: Malcolm Walker Buys Stake in Iceland Foods
--------------------------------------------------------------
Sarah Shannon at Bloomberg News reports that Iceland Foods Ltd.
Chief Executive Officer Malcolm Walker teamed up with investors,
including DFS Furniture founder Graham Kirkham, to acquire the
budget U.K. supermarket chain from its Icelandic owners for
GBP1.45 billion (US$2.3 billion) after fending off rival bids.

According to Bloomberg, a statement on Friday said that the CEO,
who started the chain in 1970, and the investors will buy the 77%
stake held by Landsbanki Islands hf and Glitnir Bank hf.

Mr. Walker and senior managers will own 43% of the equity, and
will take operational and board control, Bloomberg discloses.
Kirkham, South African private- equity firm Brait SE and Dubai-
based retailer Landmark Group Ltd. will hold the remaining 57%,
Bloomberg notes.

Landsbanki and Glitnir have been seeking a buyer for their stake
in the Deeside, Wales-based retailer since last year, having
gained control in 2009 after the collapse of Baugur Group hf,
Bloomberg recounts.

Credit Suisse Group AG, Deutsche Bank AG, HSBC Holdings Plc,
Nomura and Royal Bank of Scotland Group Plc provided GBP860
million in a so-called all-senior debt package, Bloomberg
discloses.  Mr. Walker, who will become Iceland chairman as part
of the deal, is also receiving a GBP250 million vendor loan note,
Bloomberg says.

The transaction values all of Iceland Foods' equity at GBP1.55
billion, and gives the company an enterprise value, or the sum of
its equity and net debt, of GBP1.45 billion, Bloomberg states.

                     About Landsbanki Islands

Landsbanki Islands hf, also commonly known as Landsbankinn in
Iceland, is an Icelandic bank.  The bank offered online savings
accounts under the "Icesave" brand.  On October 7, 2008, the
Icelandic Financial Supervisory Authority took control of
Landsbanki and two other major banks.

Landsbanki filed for Chapter 15 protection on Dec. 9, 2008
(Bankr. S.D. N.Y. Case No.: 08-14921).  Gary S. Lee, Esq., at
Morrison & Foerster LLP, represents the Debtor.  When it filed
for protection from its creditors, it listed assets and debts of
more than US$1 billion each.


NEW ECONOMY: Fitch Cuts Rating on EUR204.1-Mil. Notes to 'CCsf'
---------------------------------------------------------------
Fitch Ratings has downgraded the New Economy Development Fund
S.A.'s (Taneo) and Aeolos S.A.'s notes to 'CCsf' from 'CCCsf'.

Both transactions benefit from a direct, unconditional and
irrevocable guarantee from the Hellenic Republic in respect of
the interest and principal due and Fitch's rating approach has
always focused on this guarantee.  The downgrades reflect the
uncertainty caused by the expected restricted default of the
Hellenic Republic as well as the possible event of default that
could consequently be caused for both transactions.

Taneo's notes were issued in 2003 and are due in June 2013.
Taneo is a fund of funds, whose purpose is to make investments in
funds that in turn, will invest in small- to medium-sized firms
that are located in Greece and specialize in new technologies.

As of December 2011, the principal note balance stood at EUR 105m
and the amounts realised from the fund investments that are
available for distribution under the notes amounted to EUR5.7m.
The expected shortfall upon an event of default triggered under
the notes' terms and conditions or at maturity will then be
payable by the guarantor.

Fitch has not considered the value of Taneo's assets, or any
other form of Taneo's corporate creditworthiness in its initial
and any subsequent analysis of this transaction.  The assigned
rating was and remains solely based on Fitch's assessment of the
credit link to the Greek sovereign.

Aeolos' notes were issued in 2002 and are due in 2019.  The notes
are backed by receivables due from route charges levied on
airlines for the use of the Greek airspace.  The receivable flows
have shown a stable performance and have comfortably covered
payments according to the scheduled amortization with total debt
service coverage ratios of over 4x in the past two years.  As of
September 2011, the outstanding note balance was EUR204.1 million
and it is expected to amortize to EUR182.8 million at the end of
this month.  The assigned rating was and remains largely based on
Fitch's assessment of the credit link to the Greek sovereign.

Irrespective of the asset performance of both transactions, a
restricted default of the Hellenic Republic on its sovereign debt
could trigger a transaction event of default upon which the notes
would become due and payable immediately.  The available funds
for each transaction are currently insufficient, such that the
guarantee would have to be called upon.  Assuming stable coverage
ratios, the Aeolos notes could repay the notes in full within two
years without sovereign support and Fitch therefore expects
significant recoveries in a case of default.

The rating actions are as follows:

Aeolos S.A.:

  -- EUR204.1m notes: downgraded to 'CCsf' from 'CCCsf'; Recovery
     Estimate 90%

Taneo (New Economy Development Fund S.A.)

  -- EUR105m notes: downgraded to 'CCsf' from 'CCCsf'; Recovery
     Estimate 30%


* GREECE: Use of CACs Trigger US$3BB Credit-Default Swap Payouts
----------------------------------------------------------------
Abigail Moses and Mary Childs at Bloomberg News report that the
International Swaps & Derivatives Association said Greece's use
of collective action clauses forcing investors to take losses
under its debt restructuring triggers payouts on about US$3
billion of default insurance.

According to Bloomberg, the industry group said in a statement on
Friday that a total 4,323 credit-default swap contracts may now
be settled after ISDA's determinations committee ruled the use of
CACs is a restructuring credit event.

Bloomberg notes that while policy makers had hoped to achieve
debt sustainability in Europe's most indebted nations without
triggering default swaps, political determination to avoid the
stigma of a credit event waned as Greece struggled to meet the
terms of its bailout.

Greece reached its target for participation in the debt
restructuring after using CACs to force the hand of holdouts,
with investors in 95.7% of the bonds taking part, Bloomberg
relates.

The Depository Trust & Clearing Corp. said that credit-default
swaps on Greece now cover US$3.16 billion of debt, down from
about US$6 billion last year, Bloomberg notes.  That compares
with a swaps settlement of $5.2 billion on Lehman Brothers
Holdings Inc. in 2008, Bloomberg states.

ISDA Chief Executive Officer Robert Pickel said the actual payout
on Greece credit swaps will be "much smaller" than the net amount
reported by DTCC, according to Bloomberg.


=============
I R E L A N D
=============


BROOKS: Obtains Bankruptcy Protection; Interim Examiner Appointed
-----------------------------------------------------------------
The Timber Industry Magazine reports that the High Court in
Dublin has granted bankruptcy protection to Brooks.

Kieran Wallace of KPMG has been appointed "interim examiner" of
BHT Group, which comprises Brooks, Heat Merchants and Tubs and
Tiles, TTJ relates.

Redundancies, pay cuts and branch closures are being considered
as part of a plan to save the business, TTJ notes.

BHT Group directors said the construction and DIY trades had
proved difficult in 2011 and at the start of 2012 debts totaled
EUR53 million, TTJ discloses.

The examiner has 100 days to formulate a scheme of arrangement on
the group's future, TTJ says.  Until then, the business will
trade normally, TTJ states.

Brooks is Ireland's largest timber distributor and second largest
builders merchant.


EIRCOM GROUP: To Press Ahead with Plans Amid Examinership Rumors
----------------------------------------------------------------
Donal O'Donovan at Irish Independent reports that Eircom Group
will avoid a fresh round of jobs cuts and plans to press ahead
with a EUR400 million investment in super-fast broadband, even if
the company goes into examinership.

According to Irish Independent, the company looks likely to seek
examinership within weeks.  Even if it does there are no plans to
reduce the overall number of employees beyond levels announced
last year, despite the fact that Eircom has been forced to
rewrite its long-term business plan because of faster than
expected falls in revenues, Irish Independent says.

The new plan has been circulated to lenders and is likely to be
at the center of an application for examinership that could be
made within weeks, Irish Independent states.

Jobs fears have risen in recent weeks, especially after the
company missed interest payments on some of its EUR3.7 billion of
debt, Irish Independent notes.

According to Irish Independent, a spokesman said some further
redundancies could not be ruled out in the coming years.

Eircom has been trying to find a buyer in recent weeks, with bids
due to be tabled by end of business next Monday, Irish
Independent relates.

Few insiders expect much interest in the company, Irish
Independent states.

The most likely scenario is for a 200-strong group of
international banks and hedge funds to take control in exchange
for writing off debts, Irish Independent says.  That could be
done through an examinership, Irish Independent notes.  If
lenders do take control, a 35% stake in the company that's owned
by staff and former workers through an employee trust will be
wiped out, according to Irish Independent.

Headquartered in Dublin, Ireland, Eircom Group --
http://www.eircom.ie/-- is an Irish telecommunications company,
and former state-owned incumbent.  It is currently the largest
telecommunications operator in the Republic of Ireland and
operates primarily on the island of Ireland, with a point of
presence in Great Britain.


FALLON & BYRNE: Court Protection Extended to 100 Days
-----------------------------------------------------
Tim Healy at Irish Independent reports that Fallon & Byrne has
been thrown a lifeline with an agreement to bring fresh
investment due to be signed within this week.

The company went into examinership in January, Irish Independent
relates.  It had petitioned for an examiner on grounds that it
was insolvent and was unable to pay a EUR1.4 million tax bill,
Irish Independent recounts.

Neil Hughes was appointed examiner after a report by an
independent accountant expressed the view the business could
survive if certain conditions were met, including securing new
investment, Irish Independent notes.

Mr. Justice Brian McGovern on Thursday agreed to extend the
period of protection to 100 days, Irish Independent discloses.

Fallon & Byrne operates a restaurant and gourmet food hall at
Exchequer Street, Dublin.


MR. BINMAN: Gets Offers From Potential Buyers
---------------------------------------------
InsolvencyJournal.ie reports that Mr. Binman, which is currently
in receivership, has had a least three offers to buy the
business.

Kieran Wallace and Padraic Monaghan of KPMG were appointed
interim receivers last October by the Bank of Scotland to the
family owed business when financial support for the company dried
up, InsolvencyJournal.ie recounts.

It is believed that the receivers are in negotiations with
prospective buyers for the company, which continues to trade,
InsolvencyJournal.ie relates.

According to InsolvencyJournal.ie, one of the main issues with
the business is that the planning permission on one of its sites
is due to expire in October.  However, the receivers do not
anticipate this to be an issue, InsolvencyJournal.ie states

The owner of the company, Martin Sheahan, and his family is said
to be upset and has made attempts to find other financial
funding, InsolvencyJournal.ie notes.

Mr. Binman is a waste collection company.  It has been in
operation since 1994 and serves in excess of 65,000 customers in
Limerick, Cork, Tipperary and Waterford.  It employs 330 people.


=====================
N E T H E R L A N D S
=====================


CAIRN CLO: S&P Raises Rating on Class D Notes to 'BB-'
------------------------------------------------------
Standard & Poor's Ratings Services raised its credit ratings on
Cairn CLO I B.V.'s class A-4, B, C, and D notes. "At the same
time, we affirmed our ratings on the class A-1-VFN, A-2, A-3, and
E notes," S&P said.

"The rating actions follow our assessment of the transaction's
performance, and the application of our relevant criteria for
transactions of this type," S&P said.

"For our review of the transaction's performance, we used data
from the trustee report (dated Jan. 19, 2012), in addition to our
cash flow analysis. We have taken into account recent
developments in the transaction, and have applied our 2010
counterparty criteria, as well as our cash flow criteria," S&P
said.

"From our analysis, we have observed a decline in the proportion
of assets that we consider to be rated in the 'CCC' category
('CCC+', 'CCC', and 'CCC-') and the proportion of defaulted
assets (rated 'CC', 'SD' [selective default], and 'D') in the
collateral pool since we last reviewed the transaction. We have
also noted an increase in the weighted-average spread earned on
Cairn CLO I's collateral pool, and an increase in the par
coverage test results for all classes of notes," S&P said.

"We subjected the capital structure to a cash flow analysis in
order to determine the break-even default rate. In our analysis,
we used the reported portfolio balance that we consider to be
performing, the principal cash balance, the current weighted-
average spread, and the weighted-average recovery rates that we
considered to be appropriate. We incorporated various cash flow
stress scenarios using various default patterns, levels, and
timings for each liability rating category, in conjunction with
different interest rate stress scenarios," S&P said.

"Taking into account our credit and cash flow analyses and our
2010 counterparty criteria, we consider the credit enhancement
available to the class A-4, B, C, and D notes in this transaction
to be commensurate with higher ratings. On the other hand, we
consider the credit enhancement for the class A-1-VFN, A-2, A-3,
and E notes to be commensurate with their current ratings," S&P
said.

"We have analyzed the derivative counterparties' exposure to the
transaction under scenarios where individual counterparties
failed to perform. We have concluded that the derivative exposure
is currently sufficiently limited so as not to affect the ratings
assigned," S&P said.

Cairn CLO I is a cash flow collateralized loan obligation (CLO)
transaction that securitizes loans to primarily speculative-grade
corporate firms.

            Standard & Poor's 17g-7 Disclosure Report

Sec Rule 17g-7 requires an NRSRO, for any report accompanying a
credit rating relating to an asset-backed security as defined in
the Rule, to include a description of the representations,
warranties and enforcement mechanisms available to investors and
a description of how they differ from the representations,
warranties and enforcement mechanisms in issuances of similar
securities. The Rule applies to in-scope securities initially
rated (including preliminary ratings) on or after Sept. 26, 2011.

If applicable, the Standard & Poor's 17g-7 Disclosure Report
included in this credit rating report is available at:

         http://standardandpoorsdisclosure-17g7.com

Ratings List

Class               Rating
            To                 From

Cairn CLO I B.V.
EUR333.45 Million and GBP11.45 Million Secured Variable Funding
And Floating-Rate Notes

Ratings Raised

A-4         AA+ (sf)           AA (sf)
B           A+ (sf)            A- (sf)
C           BBB- (sf)          BB+ (sf)
D           BB- (sf)           B+ (sf)

Ratings Affirmed

A-1-VFN     AA+ (sf)
A-2         AA+ (sf)
A-3         AA+ (sf)
E           B- (sf)


ZIGGO BOND: S&P Puts 'B+' Corp. Credit Rating on Watch Positive
---------------------------------------------------------------
Standard & Poor's Ratings Services placed its 'B+' long-term
corporate credit rating on The Netherlands-based leading cable
operator Ziggo Bond Co. B.V. on CreditWatch with positive
implications.

"We also placed our 'BB' issue rating on Ziggo's senior secured
notes and our 'B' issue rating on its senior notes on CreditWatch
positive," S&P said.

"The CreditWatch placement reflects our view that, if successful,
the IPO and the conversion of shareholder loans into common
equity should significantly and durably improve our assessment of
the company's financial risk profile," S&P said.

"In addition, we believe management's guidance on Ziggo's future
financial policy -- with a net debt to EBITDA target of about
3.5x -- will also contribute to this sustainable improvement,"
S&P said.

"Our main adjustment to Ziggo's debt is the addition of
shareholder loans at holding company Zesko B.V. As of year-end
2011, Standard & Poor's-adjusted debt included EUR2.3 billion of
shareholder loans, resulting in an adjusted debt-to-EBITDA ratio
of more than 6x. Excluding shareholder loans and accrued
interests, adjusted debt to EBITDA would have amounted to about
4x on Dec. 31, 2011," S&P said.

"We aim to resolve the CreditWatch positive placement upon
completion of the IPO," S&P said.

"If the IPO is successful and all shareholder loans (included
accrued interest) are converted into common equity, we could
raise the corporate credit rating and issue ratings by one or two
notches, provided we continue to expect that adjusted leverage
will fall toward 4x," S&P said.

"The CreditWatch resolution will also critically depend on the
ultimate ownership structure and our understanding of the
potential exit strategy of private equity sponsors. We believe
that continuing control by private equity sponsors will likely
continue to constrain the rating," S&P said.


===============
P O R T U G A L
===============


BANCO SANTANDER: S&P Lowers Ratings on Mortgage Covered Bonds
-------------------------------------------------------------
Standard & Poor's Ratings Services lowered to 'BBB' from 'A-' and
removed from CreditWatch negative its credit ratings on Banco
Santander Totta S.A.'s (BB/Negative/B) mortgage covered bond
program and related series of covered bonds ('obrigacoes
hipotecarias') issued under the program. "At the same time, we
assigned a negative outlook to the ratings on these covered
bonds," S&P said.

"The rating actions follow the Feb. 14, 2012 downgrade of our
long-term counterparty rating on Banco Santander Totta to 'BB'
from 'BBB-'," S&P said.

"On Dec. 15, 2011, we placed on CreditWatch negative our ratings
on Banco Santander Totta's mortgage covered bond program and
related series following the CreditWatch negative placement of
our ratings on 15 European Economic and Monetary Union (EMU or
eurozone) members on Dec. 5, as well as the CreditWatch negative
placement of the rating on the issuer," S&P said.

"On Jan. 31, 2012, we lowered our ratings on Banco Santander
Totta's mortgage covered bond program and related series to
reflect the changed sovereign ratings following the lowering of
our ratings on Portugal on Jan. 13. We kept our ratings on the
covered bond program and related series on CreditWatch negative
due to the CreditWatch placement of the issuer credit rating
(ICR) on the bank," S&P said.

                Credit And Cash Flow Analysis

"We have applied our five-step approach for rating covered bonds
to evaluate the maximum potential covered bonds ratings uplift
for the mortgage covered bonds. In step 1 of our rating approach,
we used our assessment of the program's asset-liability mismatch
(ALMM) risk to determine an ALMM classification of 'high'. In
step 2, we categorized Banco Santander Totta's mortgage covered
bonds in category '2'. This combination enables us to assign to
the covered bonds a maximum potential ratings uplift of four
notches above our long-term rating on Banco Santander Totta (step
3)," S&P said.

"In step 4 of our analysis, we analyzed the credit and market
risks, to determine the target credit enhancement that we
consider to be commensurate with the maximum potential uplift
that we determined in step 3," S&P said.

"Due to our Jan. 13 downgrade of the Republic of Portugal, we
have increased our assumption for the assumed weighted-average
foreclosure frequency (WAFF) in the cover pool and have increased
our assumption for the program's refinancing spread," S&P said.

                      Higher Waff Assumption

"When rating a covered bond program above the foreign currency
rating on the sovereign in which the assets are located, our
premise is that the covered bonds would continue to perform in a
stress scenario where the government has defaulted on its
obligations," S&P said.

"While we believe that this would be the case for covered bond
programs backed by Portuguese assets that we rate, we also
consider that risks affecting these transactions have increased
materially due to heightened country risk, which, in part, is
reflected in the 'BB/Negative' long-term rating on Portugal. As a
result, the likelihood that these transactions could experience
an unusually large adverse change in credit quality has also
increased, in our view," S&P said.

"In our opinion, the economic recession and rising unemployment
associated with increased country risk may negatively affect the
willingness and ability of obligors to repay their debts, with
transactions experiencing higher defaults and delinquencies and
ultimately decreased cash flow. To absorb this increased credit
risk, we believe that cover bonds should be able to withstand
losses that would be at least 1.3 times the initial loss
expectations for our rating scenario. We have based these
adjustments on historically observed data from transactions that
have experienced similar sovereign-stressed environments. The
application of these assumptions may be revised from time to time
as future actual performance is observed. These increased loss
assumptions would apply to the ratings on any outstanding covered
bonds, as well as to the ratings on any new covered bonds backed
by Portuguese assets," S&P said.

As a result of these adjustments the WAFF in Banco Santander
Totta's mortgage covered bond program's cover pool has increased
to 18.85% from 14.50%.

                 Higher Refinancing Spread Assumption

"We model market value risk in terms of a 'spread shock'. Here,
we calculate the net present value of the projected cash flows of
the assets using a discount rate, which we base on the target
asset spreads over the relevant funding rate, e.g., Euro
Interbank Offered Rate (EURIBOR). We derive these target asset
spreads based, in part, on the widest observed spread for
securitizations or issuances of similar assets," S&P said.

"The application of the target asset spreads results in a reduced
asset value, which we use as an input in our cash flow analysis
to calculate the likely proceeds the issuer would receive if it
borrows from a third party or sells assets," S&P said.

"Our spread assumptions are specific to jurisdiction and cover
pool assets, and we update these assumptions on a regular basis
to respond to fundamental changes in market conditions. Due to
the heightened observed spreads in Portuguese mortgage-backed
assets, we have increased our target asset spread to 1,000 basis
points (bps) from 700 bps," S&P said.

"With an unchanged asset and liability structure, our increased
WAFF and refinancing spread assumptions have led to an increase
in the target credit enhancement needed to support the maximum
uplift for the covered bond ratings. As the available credit
enhancement in Banco Santander Totta's mortgage covered bond
program is lower than the target credit enhancement and only
commensurate with three notches of uplift above the ICR, we have
lowered our ratings to 'BBB' from 'A-' on the mortgage covered
bond program and related series. We have also removed from
CreditWatch negative our ratings on these covered bonds because
the ICR is no longer on CreditWatch negative," S&P said.

                           EMU Criteria

"We have also applied our criteria for rating nonsovereign
issuers and structured finance transactions--including covered
bonds--above the rating on the related sovereign in the eurozone
('EMU criteria') when determining the credit rating on the
covered bonds. Our EMU criteria determine the maximum rating
differential between sovereign and covered bond ratings based on
the sovereign rating level and the covered bond program's
country-risk exposure," S&P said.

"Under our EMU criteria, a mortgage covered bond program that has
what we consider to be a 'low' country-risk exposure would
typically achieve a maximum uplift of six notches above the
investment-grade rating on the country in which the cover pool
assets are located. If the sovereign rating is in the
speculative-grade category, the maximum uplift is five notches.
As our long-term rating on Portugal is currently 'BB', our EMU
criteria do not constrain our rating on Banco Santander Totta's
mortgage covered bond program and related series," S&P said.

                            Outlook

"We have assigned a negative outlook to the ratings on the
covered bonds as all else being equal, any future downgrade of
Banco Santander Totta would automatically lead to a downgrade of
the covered bond program and related series. The negative outlook
reflects the negative outlook for both the ICR and the sovereign
rating," S&P said.

          Potential Effects of Proposed Criteria Changes

"We have taken the rating actions on these covered bonds based on
our criteria for rating covered bonds. As part of our cash flow
analysis, we used Standard & Poor's Covered Bond Monitor to
calculate the target credit enhancement for the covered bonds.
However, the assumptions and methodologies used in this cash
flow analysis are under review," S&P said.

"This review may result in further changes to the criteria. As a
result, our future assumptions and methodologies used in our
Covered Bond Monitor model may differ from our current criteria.
The criteria change may affect the ratings on all outstanding
covered bonds in this program. Until such time that we adopt new
criteria for rating covered bonds, we will continue to rate and
surveil these covered bonds using our existing criteria," S&P
said.

Ratings List

                           Rating
Program/          To                    From
Country:   Covered Bond Type

Ratings Lowered and Removed From CreditWatch Negative;
Negative Outlook Assigned

Banco Santander Totta S.A.

                  BBB/Negative          A-/Watch Neg
Portugal:  Mortgage Covered Bonds (Obrigacoes Hipotecarias)


* S&P Takes Various Rating Actions on Portuguese RMBS Deals
-----------------------------------------------------------
Standard & Poor's Ratings Services took various credit rating
actions on various Portuguese residential mortgage-backed
securities (RMBS) and asset-backed securities (ABS)
transactions.

Specifically, S&P has, taken these rating actions:

* Affirmed its ratings on 65 tranches in 36 RMBS transactions;

* Lowered its ratings on 40 tranches in 17 RMBS transactions;

* Lowered and removed from CreditWatch negative its rating on
   one RMBS tranche in one transaction;

* Placed on CreditWatch negative its ratings on three RMBS
   tranches in one transaction;

* Kept its rating on one tranche in one RMBS transaction on
   CreditWatch negative;

* Withdrawn its rating on one tranche in one RMBS transaction as
   the tranche has paid down;

* Affirmed its ratings on 16 tranches in 10 ABS transactions;
   and

* Lowered its ratings on three tranches in two ABS transactions.

"On Jan. 13, 2012, we lowered our long-term rating on the
Republic of Portugal to 'BB' from 'BBB-'. We have subsequently
revised our assessment of Portuguese country risk and how it
might affect the ratings on the notes of Portuguese
securitizations that we rate," S&P said.

"When rating a securitization above the foreign currency rating
on the sovereign in which the assets are located, our premise is
that the structured finance obligation would continue to perform
in a stress scenario where the government has defaulted on its
obligations," S&P said.

"While we believe that this would be the case for structured
finance transactions backed by Portuguese assets that we rate, we
also consider that risks affecting these transactions have
increased materially due to heightened country risk, which, in
part, is reflected in the 'BB/Negative' long-term rating on the
Republic of Portugal. As a result, we are of the view that there
is an increased likelihood that these transactions could
experience an unusually large adverse change in credit quality,"
S&P said.

"In our opinion, the economic recession and rising unemployment
associated with increased country risk may decrease the
willingness and ability of obligors to repay their debts, with
transactions experiencing higher defaults and delinquencies and
ultimately decreased cash flow. On the basis of this increased
credit risk, we believe that projected losses could increase by
up to 30% from the initial loss expectations for each rating
level. We have estimated these increased losses based on our
assessment of the economic and industry risk that we consider to
be prevalent in Portugal, and historically observed data from
transactions that have experienced similar sovereign-stressed
environments, among other factors. The application of these
assumptions may be revised from time to time as future actual
performance is observed," S&P said.

"These increased loss assumptions will apply to the ratings on
any outstanding notes, as well as to the ratings on any new notes
backed by Portuguese assets," S&P said.

"Based on the analysis, for Portuguese RMBS transactions, we have
affirmed our ratings on 65 tranches in 36 transactions, lowered
our ratings on 40 tranches in 17 transactions, lowered and
removed from CreditWatch negative our rating on one tranche,
placed on CreditWatch negative our ratings on three tranches in
one transaction, and kept our rating on one tranche on
CreditWatch negative," S&P said.

"Similarly, for Portuguese ABS transactions, we have affirmed our
ratings on 16 tranches in 10 transactions and lowered our ratings
on three tranches in two transactions," S&P said.

"We have also withdrawn our rating on one RMBS tranche that has
paid down," S&P said.

"Our analysis assessed the collateral performance, the risk
profile of the residual collateral pool, the deleveraging of the
portfolio, and the increase in available credit enhancement, all
within our current country risk assessment," S&P said.

            Standard & Poor's 17g-7 Disclosure Report

Sec Rule 17g-7 requires an NRSRO, for any report accompanying a
credit rating relating to an asset-backed security as defined in
the Rule, to include a description of the representations,
warranties and enforcement mechanisms available to investors and
a description of how they differ from the representations,
warranties and enforcement mechanisms in issuances of similar
securities. The Rule applies to in-scope securities initially
rated (including preliminary ratings) on or after Sept. 26, 2011.

If applicable, the Standard & Poor's 17g-7 Disclosure Report
included in this credit rating report is available at:

         http://standardandpoorsdisclosure-17g7.com


===========
R U S S I A
===========


CB INTERCOMMERZ: S&P Assigns 'B-/C' Counterparty Credit Ratings
---------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B-' long-term
and 'C' short-term counterparty credit ratings to Russia-based CB
Intercommerz Ltd. The outlook is stable. "At the same time, we
assigned our 'ruBBB-' Russia national scale rating" S&P siad.

"The ratings on Intercommerz reflect our view of the bank's
'weak' business position, 'moderate' capital and earnings, 'weak'
risk position, 'average' funding, and 'adequate' liquidity, as
our criteria define these terms. The stand-alone credit profile
is 'b-'," S&P said.

"Under our bank criteria, we use the Banking Industry Country
Risk Assessment economic and industry risk scores to determine a
bank's anchor, the starting point in assigning an issuer credit
rating. Our anchor for a commercial bank operating only in Russia
is 'bb'," S&P said.

"Russia's economic risk score is '7'. This reflects Russia's only
moderate growth prospects, the moderate pace of credit expansion,
the economy's moderate level of debt, and very high credit risk
in the economy due to foreign currency lending, the poor credit
standing of the nonexport economy, and Russia's weak and
arbitrary legal system. The industry risk score is '7'. This is
based on our view of deficiencies in Russia's bank supervision;
the dominance of state-owned banks, which unfavorably distorts
competition for private sector banks; and the risky bank funding
markets characterized by a lack of long-term financing in rubles
and prevalent use of foreign currency. Nonetheless, bank funding
has improved since 2008 due to a significant increase in retail
deposits and the Russian Central Bank's regular and effective
liquidity support operations," S&P said.

"We consider Intercommerz's business profile to be 'weak', owing
to the bank's limited customer base and business diversification
as well as existing corporate governance issues. Established in
1991, Intercommerz is a midsize Russian commercial bank focusing
on corporate clientele. With total assets of Russian rubles (RUB)
34 billion ($1.06 billion) as of year-end 2011, it ranks 97th
among 978 banks operating in Russia. In 2010, Intercommerz
acquired small Moscow-based corporate bank, Evrazbank. During the
last three years, Intercommerz increased its assets four-fold,
which we view as a very aggressive pace of growth. Intercommerz's
strategy includes plans to acquire a regional retail bank with
RUB1 billion of capital to strengthen franchise and develop
retail lines of business. We are concerned, however, that post-
acquisition strategic repositioning will raise additional
operational and credit risks," S&P said.

"The bank's ultimate beneficiaries are not indicated in the
official disclosure of the shareholders' structure. This lack of
transparency creates corporate governance issues, in our view. At
the same time, we understand that one of the bank's priorities
for 2012 is to increase business transparency to facilitate
interactions with international financial institutions," S&P
said.

"We view capital and earnings as 'moderate', reflecting a
projected risk-adjusted capital (RAC) ratio before adjustments
for diversification in the 6%-7% range over the next 12-18
months. According to our criteria, however, a 'moderate'
assessment of capital and earnings is a neutral rating factor for
banks with a 'bb' anchor. Our assumptions stipulate that, in case
of acquisition, it will be financed by shareholders, keeping
capitalization of the new structure at least at current levels.
Intercommerz has acceptable quality of earnings, in our view. Net
interest income accounted for 75% of operating revenues for the
first nine months of 2011 (a level comparable to peers) in
comparison to 60% in 2010. This change in the revenue composition
could be partly explained by the increase in the net interest
margin from 5% in 2010 to more than 6% in 2011," S&P said.

"In our view, Intercommerz's overall risk position is 'weak'. Our
assessment primarily reflects high single-name concentrations in
the loan book. As of year-end 2011, top-20 borrowers accounted
for 35% of the loan portfolio and 3x adjusted total equity (ATE),
which is higher than the domestic and regional peer average.
Intercommerz has moderate asset quality with nonperforming loans
(overdue by more than 90 days) accounting for only 1.7% of total
loan portfolio, but restructured loans making another 11% of the
loan book as of year-end 2011. We believe that the bank's rapid
asset growth could lead to an increase in the level of
nonperforming loans," S&P said.

"We consider Intercommerz's funding to be 'average' and its
liquidity position 'adequate'. Overall, we believe these two
factors are neutral to the ratings. We view Intercommerz's
funding position as close to industry average; however, the top-
20 deposits are concentrated and account for 43% of customer
deposits or 35% of total liabilities as of year-end 2011. More
than half of the bank's deposits were corporate current accounts,
forcing the bank to maintain a significant liquidity cushion.
Cash and cash equivalents and corresponding accounts in other
financial institutions accounted for 18% of total assets as of
Dec. 31, 2011. We do not expect material changes in the bank's
funding structure in the next two-to-three years as
Intercommerz's access to long-term funding via international
markets is still very limited," S&P said.

"The issuer credit rating does not include any notches for
extraordinary parental support, which we view as uncertain. We
consider the bank to be of 'low' systemic importance and do not
incorporate any uplift for extraordinary government support in
the rating," S&P said.

"The stable outlook on Intercommerz reflects our expectation that
the bank will continue strengthening its franchise, while keeping
capitalization and asset quality metrics at current levels. We
expect that its funding and liquidity profile will remain broadly
unchanged," S&P said.

"We could consider lowering the ratings if Intercommerz suffered
from significant losses, leading to a deterioration in its
capitalization, with its projected RAC ratio before adjustments
for concentration and diversification falling below 5%.
Significant strain on Intercommerz's liquidity could also lead to
a downgrade," S&P said.

"We are not likely to raise the ratings over the outlook horizon.
In the longer term we could consider upgrading the bank if we
were to see improvements in its risk position, with better
diversification of the loan portfolio, and growth rates closer to
industry average (about 20% per year), combined with more-
sophisticated risk management systems, with all other factors
including capitalization staying at least at current levels," S&P
said.

"Despite likely penetration of the retail market in 2012, we
would need to see a positive track record in this segment before
giving Intercommerz any ratings uplift in terms of business
diversity and, subsequently, business position," S&P said.


CENTRAL EUROPEAN: Moody's Cuts CFR to Caa1, Notes Rating to B3
--------------------------------------------------------------
Moody's Investors Service has downgraded the corporate family
rating (CFR) and probability of default rating (PDR) of Central
European Distribution Corporation (CEDC) to Caa1 from B3.
Concurrently, Moody's has also downgraded to B3 from B2 the
rating on the senior secured notes due in 2016 issued by CEDC
Finance Corporation International. These ratings remain on review
for downgrade.

Ratings Rationale

"T[he] rating action reflects the ongoing deterioration in CEDC's
operating profitability, which is reflected in a decline in
EBITDA to USD124 million for FY 2011 from USD167.1 million a year
ago, resulting in a financial leverage, as adjusted by Moody's,
exceeding 10x for 2011. In Moody's view currently depressed
profitability level will challenge the company to sustain its
current debt burden," says Paolo Leschiutta, a Moody's Vice
President -- Senior Credit Officer and lead analyst for CEDC.

The downgrade also reflects Moody's expectation that CEDC's
profitability is likely to remain below historical levels over
the short term as the company continues to face difficult market
conditions in Russia, increasing raw material and marketing
costs, as well as high competition. The current Caa1 rating,
however, reflects also the potentially good cash generation
capability of CEDC business and the fact that we would expect a
degree of recovery in profitability over the medium term.

In Moody's view, however, the fragile financial environment and
the current weak profitability could challenge the company to
address the refinancing needs associated with its USD310 million
of convertible notes coming due in March 2013.

The ratings remain on review mainly due to the ongoing
uncertainty related to the company's future capital structure,
including its refinancing plans, and the ongoing difficulties
experienced in Russia. Moody's understands that CEDC is, with the
assistance of financial and legal advisors, reviewing
alternatives to addressing its convertible notes maturity. In
this context, Moody's notes that a successful refinancing, with
no loss for bondholders, would reduce most of the liquidity
concerns we have on the company, although key credit metrics are
likely to remain weak over the short term.

Focus of the Review

Moody's rating review will focus on (i) CEDC capability to
address the maturity of its USD310 million of convertible notes
over the next few weeks; (ii) the possibility that the current
creditors might suffer losses; (iii) the liquidity profile of the
group going forward; (iv) CEDC success in improving its operating
activity in Russia; and (v) CEDC's credit metrics evolution over
the short to medium term.

The inability to show progress in addressing its refinancing
needs over the next few weeks or any transaction that could
qualify as a distressed exchange under Moody's definitions,
leading to potential losses for bond holders, could trigger
further negative actions on CEDC's ratings. Moody's methodology
for evaluating a distressed exchange considers inter alia whether
(1) the issuer would be offering creditors a new package of
security or cash that amount to a diminished financial obligation
relative to the original obligation prescribed by the notes'
indentures and (2) the exchange is apparently being offered to
allow the issuer to avoid a bankruptcy or payment default. For
further details on this topic, please see our Rating
Implementation Guidance "Moody's Approach to Evaluating
Distressed Exchanges," published March 2009.

Downgrades:

Issuer: Central European Distribution Corporation

Corporate Family Rating, Downgraded to Caa1 from B3

Probability of Default Rating, Downgraded to Caa1 from B3

Issuer: CEDC Finance Corporation International

Senior Secured Regular Bond/Debenture, Downgraded to B3 from B2

Principal Methodology

The principal methodology used in rating CEDC was Moody's "Global
Alcoholic Beverage Rating Methodology", published in September
2009.

Headquartered in Warsaw, Poland, CEDC is one of the largest vodka
producers in the world, with annual sales of around 33.2 million
nine-litre cases, mainly in Russia and Poland. Following
investments in Russia over the past two years and the
consolidation since February 2011 of Whitehall Group, an importer
and distributor of premium spirits and wine, CEDC generated net
revenues of around USD878 million during FYE December 2011.


===========================
U N I T E D   K I N G D O M
===========================


EPIC PLC: S&P Affirms 'BB' Rating on Class F Notes
--------------------------------------------------
Standard & Poor's Ratings Services lowered its credit ratings on
Epic (More London) PLC's class C and D commercial mortgage-backed
notes. "At the same time, we have affirmed our ratings on the
class E and F notes," S&P said.

Epic (More London) is a U.K. commercial mortgage-backed
securities (CMBS) transaction backed by a single loan to London
Bridge Holdings Ltd which matures in July 2014.

The transaction closed in April 2006 and is scheduled to mature
in July 2017. A tap issuance in November 2006 took the total
securitized note balance to GBP670 million. , the securitized
loan balance is GBP646.42 million and the whole-loan balance is
GBP750.87 million.

The loan was restructured in March 2011 to remedy a loan event of
default which occurred as a result of technical insolvency of the
borrower (following unrealized losses on the loan swaps).

Under the terms of this restructuring:

* The sponsor injected GBP10 million of equity to reduce the
   securitized loan balance (GBP9.084 million loan and GBP916,000
   break costs);

* The whole-loan loan-to-value (LTV) ratio covenant is waived
   until April 2012, when the covenant will be reset to 97.5%
   (from 87.5%);

* A portion of the junior loan was written off by the lender
   (GBP20 million); and

* The junior lender will receive certain deferred amounts at
   maturity and an increased coupon on the retained junior loan.
   Both payments are subordinated and not payable until the
   securitized loan is fully repaid.

"The borrower owns the freehold in the entire More London
development. More London is a commercial master-planned
development located on the south bank of the River Thames,
adjacent to Tower Bridge in Central London. The buildings are
predominantly let as office space with ancillary retail units,
restaurants, and leisure offerings at the base of the buildings.
We consider the development prime within its location. Six of the
purpose-built detached offices (1-4 and 6 More London, and City
Hall) and a stand-alone Kiosk retail unit secure the loan," S&P
said.

"Four of the buildings are substantially let to single tenants
and the remaining two are multi-let. Key tenants include
internationally recognized law and accounting firms. The
weighted-average unexpired lease term across the securitized
assets exceeds 10 years and less than 10% of income is subject to
break options during the loan term. The occupancy across the
assets has improved since the transaction's issuance in 2006,"
S&P said.

The loan has a current reported senior LTV ratio of 71% based on
a revaluation of the buildings by CBRE in March 2011 at GBP906.45
million. This compares to a reported value in 2009 of GBP772.9
million.

"The borrower has an interest rate swap agreement with The Royal
Bank of Scotland on the securitized loan. Under this agreement,
the borrower pays a fixed rate to the swap counterparty in return
for a floating rate. If the loan defaults before maturity, swap
breakage costs could be incurred by the borrower. These would be
payable in priority to the securitized loan, and would reduce the
level of recoveries available to noteholders," S&P said.

"In our view, this transaction is performing well with prime
assets occupied by high-quality tenants backing the loan. In our
base case scenario, the loan does not default during the term,
the swap expires at loan maturity, and therefore no breakage
costs are incurred. However, in our stressed scenarios, a loan
default occurs during the term, and in such a case, the swap
breakage costs payable by the borrower could be material," S&P
said.

                        Rating Actions

"We have lowered our rating on the class C notes by two notches,
and on the class D notes by one notch, to reflect this risk. We
have affirmed our ratings on the class E and F notes," S&P said.

"We have taken no action on our ratings on the class A and B
notes, as these classes are currently on CreditWatch negative due
to a change in the rating on the liquidity facility provider, The
Royal Bank Of Scotland. We will resolve this CreditWatch
placement separately," S&P said.

            Potential Effects of Proposed Criteria Changes

"We have taken the rating actions based on our criteria for
rating European CMBS. However, these criteria are under review,"
S&P said.

"As highlighted in the Advance Notice of Proposed Criteria
Change, we expect to publish a request for comment (RFC)
outlining our proposed criteria changes for rating European CMBS
transactions. Subsequently, we will consider market feedback
before publishing our updated criteria. Our review may result in
changes to the methodology and assumptions we use when rating
European CMBS, and consequently, it may affect both new and
outstanding ratings on European CMBS transactions," S&P said.

"Until such time that we adopt new criteria for rating European
CMBS, we will continue to rate and surveil these transactions
using our existing criteria," S&P said.

            Standard & Poor's 17g-7 Disclosure Report

Sec Rule 17g-7 requires an NRSRO, for any report accompanying a
credit rating relating to an asset-backed security as defined in
the Rule, to include a description of the representations,
warranties and enforcement mechanisms available to investors and
a description of how they differ from the representations,
warranties and enforcement mechanisms in issuances of similar
securities. The Rule applies to in-scope securities initially
rated (including preliminary ratings) on or after Sept. 26, 2011.

If applicable, the Standard & Poor's 17g-7 Disclosure Report
included in this credit rating report is available at:

         http://standardandpoorsdisclosure-17g7.com

Ratings List

Class             Rating
            To            From

Epic (More London) PLC
GBP670 Million Commercial Mortgage-Backed Floating-Rate Notes

Ratings Lowered

C           BBB+ (sf)     A (sf)
D           BBB (sf)      BBB+ (sf)

Ratings Affirmed

E           BB+ (sf)
F           BB (sf)

Ratings Unaffected

A           A+ (sf)/Watch Neg
B           A+ (sf)/Watch Neg


LEHMAN BROTHERS: In Fight With Swiss Unit Over Guarantees, Loans
----------------------------------------------------------------
Lehman Brothers Holdings Inc. is locked in a battle with Lehman
Brothers Finance AG over billions of dollars in guarantees and
intercompany loans, according to a March 2 report by Daily
Bankruptcy Review.

The dispute, which threatens to delay recoveries for creditors,
involves claims and counterclaims with respect to derivatives
guarantees and intercompany loans.

Switzerland-based LB Finance, a former Lehman derivatives
subsidiary, conducted most of the company's foreign derivatives
business and half of its equity derivatives trades.

LB Finance says it is owed US$15.4 billion by Lehman, a claim the
latter described as "grossly excessive."  Lehman, meanwhile, says
the Swiss unit owes it US$14.2 billion and that the two claims
should be "setoff," leaving a net claim of US$1.2 billion against
the company.

According to a court transcript, Judge James Peck said it
appeared that LB Finance and its insolvency administrators
appeared to be "incredibly unreasonable" and likened the firm to
a "renegade."  The bankruptcy judge eventually ordered Lehman to
reserve US$3 billion for the Swiss unit's claim so the company
could begin making its initial distribution to creditors.

Lehman is set to make initial distribution to creditors on
April 17.  A second distribution is tentatively scheduled for
September 30.

Depending on the outcome of LB Finance's legal efforts, creditors
could see a reduced payout in the second distribution as a result
of the Swiss unit's legal proceedings, Daily Bankruptcy Review
reported.

                      About Lehman Brothers

Lehman Brothers Holdings Inc. -- http://www.lehman.com/-- was
the fourth largest investment bank in the United States.  For
more than 150 years, Lehman Brothers has been a leader in the
global financial markets by serving the financial needs of
corporations, governmental units, institutional clients and
individuals worldwide.

Lehman Brothers filed for Chapter 11 bankruptcy Sept. 15, 2008
(Bankr. S.D.N.Y. Case No. 08-13555).  Lehman's bankruptcy
petition disclosed US$639 billion in assets and US$613 billion in
debts, effectively making the firm's bankruptcy filing the
largest in U.S. history.  Several other affiliates followed
thereafter.

Additional units, Merit LLC, LB Somerset LLC and LB Preferred
Somerset LLC, sought for bankruptcy protection in December 2009
or more than a year after LBHI and its other affiliates filed
their bankruptcy cases.

The Debtors' bankruptcy cases are handled by Judge James M. Peck.
Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at
Weil, Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

Dennis F. Dunne, Esq., Evan Fleck, Esq., and Dennis O'Donnell,
Esq., at Milbank, Tweed, Hadley & McCloy LLP, in New York, serve
as counsel to the Official Committee of Unsecured Creditors.
Houlihan Lokey Howard & Zukin Capital, Inc., is the Committee's
investment banker.

On Sept. 19, 2008, the Honorable Gerard E. Lynch of the U.S.
District Court for the Southern District of New York, entered an
order commencing liquidation of Lehman Brothers, Inc., pursuant
to the provisions of the Securities Investor Protection Act (Case
No. 08-CIV-8119 (GEL)).  James W. Giddens has been appointed as
trustee for the SIPA liquidation of the business of LBI.

The Bankruptcy Court has approved Barclays Bank Plc's purchase
of Lehman Brothers' North American investment banking and
capital markets operations and supporting infrastructure for
US$1.75 billion.  Nomura Holdings Inc., the largest brokerage
house in Japan, purchased LBHI's operations in Europe for US$2
plus the retention of most of employees.  Nomura also bought
Lehman's operations in the Asia Pacific for US$225 million.

               International Operations Collapse

Lehman Brothers International (Europe), the principal UK trading
company in the Lehman group, was placed into administration,
together with Lehman Brothers Ltd, LB Holdings PLC and LB UK RE
Holdings Ltd.  Tony Lomas, Steven Pearson, Dan Schwarzmann and
Mike Jervis, partners at PricewaterhouseCoopers LLP, have been
appointed as joint administrators to Lehman Brothers
International (Europe) on Sept. 15, 2008.  The joint
administrators have been appointed to wind down the business.

Lehman Brothers Japan Inc. and Lehman Brothers Holdings Japan
Inc. filed for bankruptcy in the Tokyo District Court on
Sept. 16.  Lehman Brothers Japan Inc. reported about JPY3.4
trillion (US$33 billion) in liabilities in its petition.

Bankruptcy Creditors' Service, Inc., publishes Lehman Brothers
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by Lehman Brothers Holdings, Inc., and other
insolvency and bankruptcy proceedings undertaken by its
affiliates.  (http://bankrupt.com/newsstand/or 215/945-7000)


===============
X X X X X X X X
===============


* BOND PRICING: For the Week March 5 to March 9, 2012
-----------------------------------------------------

Issuer                  Coupon    Maturity Currency   Price
------                  ------    -------- --------   -----

AUSTRIA
-------
BA CREDITANSTALT          5.470   8/28/2013     EUR    72.38
ERSTE BANK                6.000   7/31/2014     EUR    69.13
ERSTE BANK                6.000    2/1/2014     EUR    72.88
HAA-BANK INTL AG          5.270    4/7/2028     EUR    72.82
IMMOFINANZ                4.250    3/8/2018     EUR     3.77
KOMMUNALKREDIT            4.900   6/23/2031     EUR    71.63
KOMMUNALKREDIT            4.440  12/20/2030     EUR    67.50
OESTER VOLKSBK            4.750   4/30/2021     EUR    74.90
OESTER VOLKSBK            5.270    2/8/2027     EUR    68.34
OESTER VOLKSBK            4.170   7/29/2015     EUR    66.75
OESTER VOLKSBK            4.810   7/29/2025     EUR    65.13
RAIFF CENTROBANK          9.876   1/23/2013     EUR    60.89
RAIFF CENTROBANK          7.965   1/23/2013     EUR    71.70
RAIFF CENTROBANK         11.718   7/25/2012     EUR    64.40
RAIFF CENTROBANK          7.646   1/23/2013     EUR    74.24
RAIFF CENTROBANK         10.090   7/25/2012     EUR    74.73
RAIFF CENTROBANK         10.090   7/25/2012     EUR    67.53
RAIFF CENTROBANK         11.718   7/25/2012     EUR    30.42
RAIFF CENTROBANK          8.463   7/25/2012     EUR    72.63
RAIFF CENTROBANK          7.812   7/25/2012     EUR    64.50
RAIFF CENTROBANK          7.812   7/25/2012     EUR    55.59
RAIFF CENTROBANK         10.416   7/20/2012     EUR    58.36
RAIFF CENTROBANK          9.114   7/25/2012     EUR    56.57
RAIFF CENTROBANK          7.161   7/20/2012     EUR    67.40
RAIFF CENTROBANK         11.000   5/24/2012     EUR    70.30
RAIFF CENTROBANK          7.812   7/20/2012     EUR    68.53
RAIFF ZENTRALBK           4.500   9/28/2035     EUR    60.04
RAIFF ZENTRALBK           5.470   2/28/2028     EUR    74.70

BELGIUM
-------
ECONOCOM GROUP            4.000    6/1/2016     EUR    20.79
IDEAL STANDARD I         11.750    5/1/2018     EUR    55.50
IDEAL STANDARD I         11.750    5/1/2018     EUR    56.63

CYPRUS
------
CYPRUS GOVT BOND          4.750   9/30/2015     EUR    73.66
CYPRUS GOVT BOND          6.500   8/25/2021     EUR    62.77
CYPRUS GOVT BOND          6.000    6/9/2021     EUR    61.61
CYPRUS GOVT BOND          5.350    6/9/2020     EUR    60.27
CYPRUS GOVT BOND          6.100   4/20/2020     EUR    64.14
CYPRUS GOVT BOND          4.625    2/3/2020     EUR    58.05
CYPRUS GOVT BOND          6.100   6/24/2019     EUR    63.25
CYPRUS GOVT BOND          4.600   2/26/2019     EUR    57.38
CYPRUS GOVT BOND          4.600  10/23/2018     EUR    58.13
CYPRUS GOVT BOND          4.600   4/23/2018     EUR    59.25
CYPRUS GOVT BOND          5.100   1/29/2018     EUR    61.88
CYPRUS GOVT BOND          4.500   9/28/2017     EUR    60.75
CYPRUS GOVT BOND          5.600   4/15/2017     EUR    68.51
CYPRUS GOVT BOND          4.500    4/2/2017     EUR    62.50
CYPRUS GOVT BOND          4.500   2/15/2017     EUR    63.00
CYPRUS GOVT BOND          4.500    1/4/2017     EUR    63.50
CYPRUS GOVT BOND          6.600  10/26/2016     EUR    71.13
CYPRUS GOVT BOND          4.500   10/9/2016     EUR    64.63
CYPRUS GOVT BOND          4.500   7/11/2016     EUR    65.75
CYPRUS GOVT BOND          5.000    6/9/2016     EUR    70.08
CYPRUS GOVT BOND          4.500    6/2/2016     EUR    66.25
CYPRUS GOVT BOND          4.500   3/30/2016     EUR    67.25
CYPRUS GOVT BOND          4.500    1/2/2016     EUR    68.88
CYPRUS GOVT BOND          4.750   12/2/2015     EUR    72.47
CYPRUS GOVT BOND          3.750   11/1/2015     EUR    69.73
MARFIN POPULAR            4.350  11/20/2014     EUR    69.25
REP OF CYPRUS             4.750   2/25/2016     EUR    66.18

DENMARK
-------
FIN-DANISH IND            4.910    7/6/2021     EUR    68.63
KALMAR STRUCTRD           7.500   9/30/2013     EUR     2.51
KOMMUNEKREDIT             0.500   1/25/2017     ZAR    70.68
KOMMUNEKREDIT             0.500  12/14/2020     ZAR    50.68
KOMMUNEKREDIT             0.500   2/23/2017     ZAR    70.22

FINLAND
-------
MUNI FINANCE PLC          0.500  11/16/2017     TRY    70.45
MUNI FINANCE PLC          0.250   6/28/2040     CAD    20.42
MUNI FINANCE PLC          0.500   3/17/2025     CAD    52.44
MUNI FINANCE PLC          0.500  10/27/2016     TRY    74.60
MUNI FINANCE PLC          0.500  11/17/2016     ZAR    70.16
MUNI FINANCE PLC          0.500   12/6/2016     TRY    74.70
MUNI FINANCE PLC          0.500  12/21/2016     TRY    74.08
MUNI FINANCE PLC          1.000   6/30/2017     ZAR    69.12
MUNI FINANCE PLC          0.500  12/20/2018     ZAR    59.48
MUNI FINANCE PLC          0.500   9/24/2020     CAD    70.12
MUNI FINANCE PLC          0.500  11/25/2020     ZAR    46.39
MUNI FINANCE PLC          0.500  11/21/2018     TRY    66.69
MUNI FINANCE PLC          0.500  12/14/2018     TRY    66.47
MUNI FINANCE PLC          0.500  11/10/2021     NZD    64.11
MUNI FINANCE PLC          0.500  11/21/2018     ZAR    57.33
MUNI FINANCE PLC          0.500  12/21/2021     NZD    64.32
MUNI FINANCE PLC          0.500   4/27/2018     ZAR    62.17
MUNI FINANCE PLC          0.500   4/26/2016     ZAR    73.55
MUNI FINANCE PLC          0.500  10/27/2016     ZAR    70.55

FRANCE
------
AIR FRANCE-KLM            4.970    4/1/2015     EUR    11.60
ALCATEL-LUCENT            5.000    1/1/2015     EUR     3.01
ALTRAN TECHNOLOG          6.720    1/1/2015     EUR     5.08
ASSYSTEM                  4.000    1/1/2017     EUR    21.28
ATOS ORIGIN SA            2.500    1/1/2016     EUR    53.79
BNP PARIBAS               2.890   5/16/2036     JPY    66.33
BNP PARIBAS              10.050   7/24/2012     USD    33.63
CAISSE CENT IMMO          7.000   5/18/2015     EUR    15.10
CAISSE CENT IMMO          7.000   9/10/2015     EUR    17.01
CAISSE CENT IMMO          7.000   5/16/2014     EUR    38.54
CALYON                    6.000   6/18/2047     EUR    27.49
CAP GEMINI SOGET          3.500    1/1/2014     EUR    39.72
CGG VERITAS               1.750    1/1/2016     EUR    29.89
CLUB MEDITERRANE          5.000    6/8/2012     EUR    16.41
CLUB MEDITERRANE          6.110   11/1/2015     EUR    19.54
CMA CGM                   8.500   4/15/2017     USD    65.17
CMA CGM                   8.875   4/15/2019     EUR    67.40
CMA CGM                   8.500   4/15/2017     USD    66.94
CMA CGM                   8.875   4/15/2019     EUR    66.03
CREDIT LOCAL FRA          3.750   5/26/2020     EUR    65.66
DEXIA CRED LOCAL          5.037    8/4/2020     EUR    72.27
DEXIA CRED LOCAL          4.550    4/2/2020     EUR    70.70
DEXIA CRED LOCAL          4.110   9/18/2018     EUR    74.12
DEXIA CRED LOCAL          4.500   2/25/2020     EUR    70.59
DEXIA MUNI AGNCY          4.680    3/9/2029     CAD    74.55
DEXIA MUNI AGNCY          1.000  12/23/2024     EUR    66.22
EURAZEO                   6.250   6/10/2014     EUR    58.25
EUROPCAR GROUPE           9.375   4/15/2018     EUR    74.50
EXANE FINANCE            18.150   5/17/2012     CHF    45.20
FAURECIA                  4.500    1/1/2015     EUR    23.97
GROUPAMA SA               7.875  10/27/2039     EUR    60.72
GROUPE VIAL               2.500    1/1/2014     EUR     2.56
INGENICO                  2.750    1/1/2017     EUR    46.98
MAUREL ET PROM            7.125   7/31/2015     EUR    18.19
MAUREL ET PROM            7.125   7/31/2014     EUR    19.19
NEXANS SA                 2.500    1/1/2019     EUR    73.10
NEXANS SA                 4.000    1/1/2016     EUR    62.29
ORPEA                     3.875    1/1/2016     EUR    44.30
PAGESJAUNES FINA          8.875    6/1/2018     EUR    74.00
PEUGEOT SA                4.450    1/1/2016     EUR    25.29
PIERRE VACANCES           4.000   10/1/2015     EUR    71.23
PUBLICIS GROUPE           1.000   1/18/2018     EUR    52.53
PUBLICIS GROUPE           3.125   7/30/2014     EUR    41.55
SOC AIR FRANCE            2.750    4/1/2020     EUR    20.91
SOITEC                    6.250    9/9/2014     EUR     8.85
TEM                       4.250    1/1/2015     EUR    55.04
THEOLIA                   2.700    1/1/2041     EUR     9.07

GERMANY
-------
BAYERISCHE LNDBK          5.100   6/29/2012     EUR    63.19
BAYERISCHE LNDBK          6.100   6/15/2012     EUR    44.77
BAYERISCHE LNDBK          5.800   7/13/2012     EUR    66.40
BAYERISCHE LNDBK          5.500   6/29/2012     EUR    71.37
BAYERISCHE LNDBK          3.200   10/1/2012     EUR    38.98
BHF-BANK AG              13.200    6/8/2012     EUR    65.67
BHF-BANK AG               7.250   6/15/2012     EUR    71.60
BHW BAUSPARKASSE          4.270   1/15/2019     EUR    74.75
BNP EMIS-U.HANDE          8.500   3/22/2012     EUR    67.10
BNP EMIS-U.HANDE          8.500   3/22/2012     EUR    65.53
BNP EMIS-U.HANDE         10.000   7/26/2012     EUR    58.02
BNP EMIS-U.HANDE         10.250   6/21/2012     EUR    55.72
BNP EMIS-U.HANDE         10.250   6/21/2012     EUR    72.14
BNP EMIS-U.HANDE         10.000   6/21/2012     EUR    67.95
BNP EMIS-U.HANDE         10.000   6/21/2012     EUR    74.75
BNP EMIS-U.HANDE          9.500   6/21/2012     EUR    66.10
BNP EMIS-U.HANDE          9.250   6/21/2012     EUR    50.89
BNP EMIS-U.HANDE          9.250   6/21/2012     EUR    56.80
BNP EMIS-U.HANDE          8.500   6/21/2012     EUR    68.58
BNP EMIS-U.HANDE          8.250   6/21/2012     EUR    69.69
BNP EMIS-U.HANDE          7.750   6/21/2012     EUR    65.73
BNP EMIS-U.HANDE          7.500   6/21/2012     EUR    72.58
BNP EMIS-U.HANDE          7.500   6/21/2012     EUR    68.76
BNP EMIS-U.HANDE          7.250   6/21/2012     EUR    74.82
BNP EMIS-U.HANDE          6.750   6/21/2012     EUR    73.38
BNP EMIS-U.HANDE          7.000   5/24/2012     EUR    57.78
BNP EMIS-U.HANDE          5.250   5/24/2012     EUR    70.67
BNP EMIS-U.HANDE          9.000   4/26/2012     EUR    58.72
BNP EMIS-U.HANDE          6.000   4/26/2012     EUR    68.70
BNP EMIS-U.HANDE          6.000   4/26/2012     EUR    53.33
BNP EMIS-U.HANDE          5.000   4/26/2012     EUR    69.07
BNP EMIS-U.HANDE         19.000   3/22/2012     EUR     8.90
BNP EMIS-U.HANDE         15.500   3/22/2012     EUR    37.54
BNP EMIS-U.HANDE         14.250   3/22/2012     EUR    60.62
BNP EMIS-U.HANDE         13.000   3/22/2012     EUR    51.72
BNP EMIS-U.HANDE         11.250   3/22/2012     EUR    68.34
BNP EMIS-U.HANDE         10.750   3/22/2012     EUR    73.32
BNP EMIS-U.HANDE         10.750   3/22/2012     EUR    51.57
BNP EMIS-U.HANDE         10.500   3/22/2012     EUR    72.06
BNP EMIS-U.HANDE         10.250   3/22/2012     EUR    73.55
BNP EMIS-U.HANDE          9.500   3/22/2012     EUR    69.63
BNP EMIS-U.HANDE          9.250   3/22/2012     EUR    73.03
BNP EMIS-U.HANDE          7.750  12/31/2012     EUR    67.91
BNP EMIS-U.HANDE         10.500  12/28/2012     EUR    69.07
BNP EMIS-U.HANDE          9.750  12/28/2012     EUR    75.22
BNP EMIS-U.HANDE          8.500  12/28/2012     EUR    71.28
BNP EMIS-U.HANDE         10.000   7/26/2012     EUR    58.95
BNP EMIS-U.HANDE          9.000   7/26/2012     EUR    66.56
BNP EMIS-U.HANDE         10.000   7/26/2012     EUR    51.24
BNP EMIS-U.HANDE          9.000   7/26/2012     EUR    69.92
BNP EMIS-U.HANDE          9.000   7/26/2012     EUR    41.62
BNP EMIS-U.HANDE          9.000   7/26/2012     EUR    45.07
BNP EMIS-U.HANDE          9.000   7/26/2012     EUR    63.97
BNP EMIS-U.HANDE          9.000   7/26/2012     EUR    57.77
BNP EMIS-U.HANDE          6.500   7/26/2012     EUR    69.09
BNP EMIS-U.HANDE          8.000   7/26/2012     EUR    55.17
BNP EMIS-U.HANDE          8.000   7/26/2012     EUR    64.61
BNP EMIS-U.HANDE          7.000   7/26/2012     EUR    49.70
BNP EMIS-U.HANDE          7.000   7/26/2012     EUR    62.32
BNP EMIS-U.HANDE          7.000   7/26/2012     EUR    56.62
BNP EMIS-U.HANDE          7.000   7/26/2012     EUR    41.65
BNP EMIS-U.HANDE          6.000   7/26/2012     EUR    46.36
BNP EMIS-U.HANDE          6.000   7/26/2012     EUR    68.57
BNP EMIS-U.HANDE          6.000   7/26/2012     EUR    49.98
BNP EMIS-U.HANDE          6.000   7/26/2012     EUR    72.19
BNP EMIS-U.HANDE         16.000   6/21/2012     EUR    31.60
BNP EMIS-U.HANDE         19.250   6/21/2012     EUR    15.76
BNP EMIS-U.HANDE         18.250   6/21/2012     EUR    13.32
BNP EMIS-U.HANDE         13.750   6/21/2012     EUR    66.87
BNP EMIS-U.HANDE         15.500   6/21/2012     EUR    35.33
BNP EMIS-U.HANDE         14.250   6/21/2012     EUR    52.20
BNP EMIS-U.HANDE         11.500   6/21/2012     EUR    68.94
BNP EMIS-U.HANDE         13.500   6/21/2012     EUR    59.32
BNP EMIS-U.HANDE         11.750   6/21/2012     EUR    50.27
BNP EMIS-U.HANDE         11.000   6/21/2012     EUR    54.02
BNP EMIS-U.HANDE         10.500   6/21/2012     EUR    66.68
BNP EMIS-U.HANDE         10.500   6/21/2012     EUR    68.68
COMMERZBANK AG            9.000  10/29/2012     EUR    14.42
COMMERZBANK AG            8.500  10/29/2012     EUR    74.36
COMMERZBANK AG            9.000   10/1/2012     EUR    72.33
COMMERZBANK AG            7.700   9/28/2012     EUR    64.54
COMMERZBANK AG            9.000    8/3/2012     EUR    74.17
COMMERZBANK AG            8.500    8/3/2012     EUR    59.22
COMMERZBANK AG           11.500    7/6/2012     EUR    13.09
COMMERZBANK AG           10.500    7/6/2012     EUR    70.84
COMMERZBANK AG           11.500   6/22/2012     EUR    62.37
COMMERZBANK AG            8.000   6/22/2012     EUR    74.77
COMMERZBANK AG            8.000    6/4/2012     EUR    75.50
COMMERZBANK AG            7.250    5/7/2012     EUR    71.38
COMMERZBANK AG            7.250    5/7/2012     EUR    52.99
COMMERZBANK AG           12.100   4/27/2012     EUR    24.70
COMMERZBANK AG           10.800   3/30/2012     EUR    69.95
COMMERZBANK AG           10.100   4/27/2012     EUR    72.29
COMMERZBANK AG            8.400  12/30/2013     EUR    21.92
COMMERZBANK AG            8.000  12/27/2012     EUR    61.11
COMMERZBANK AG            7.000  12/27/2012     EUR    73.47
COMMERZBANK AG           11.500   11/5/2012     EUR    71.90
COMMERZBANK AG           10.000   11/5/2012     EUR    71.18
COMMERZBANK AG            8.000   11/5/2012     EUR    63.00
COMMERZBANK AG            8.000    5/7/2012     EUR    53.32
DEUTSCHE BANK AG          9.500   3/29/2012     EUR    58.10
DEUTSCHE BANK AG          6.500   3/29/2012     EUR    71.30
DEUTSCHE BANK AG          6.500   3/29/2012     EUR    62.40
DEUTSCHE BANK AG          6.500   3/29/2012     EUR    74.50
DEUTSCHE BANK AG          7.000   3/29/2012     EUR    65.00
DEUTSCHE BANK AG          7.500   3/29/2012     EUR    72.90
DEUTSCHE BANK AG          7.500   3/29/2012     EUR    70.80
DEUTSCHE BANK AG          7.500   3/29/2012     EUR    59.20
DEUTSCHE BANK AG          7.500   3/29/2012     EUR    68.40
DEUTSCHE BANK AG          8.000   3/29/2012     EUR    61.70
DEUTSCHE BANK AG          8.000   3/29/2012     EUR    74.00
DEUTSCHE BANK AG          8.000   3/29/2012     EUR    73.00
DEUTSCHE BANK AG          9.500   3/29/2012     EUR    75.90
DEUTSCHE BANK AG          9.500   3/29/2012     EUR    65.70
DEUTSCHE BANK AG          9.500   3/29/2012     EUR    67.10
DEUTSCHE BANK AG          9.500   3/29/2012     EUR    69.40
DEUTSCHE BANK AG         10.000   3/29/2012     EUR    60.60
DEUTSCHE BANK AG         10.000   3/29/2012     EUR    70.00
DEUTSCHE BANK AG         10.000   3/29/2012     EUR    69.50
DEUTSCHE BANK AG         10.000   3/29/2012     EUR    72.80
DEUTSCHE BANK AG          7.000   4/30/2012     EUR    73.30
DEUTSCHE BANK AG          7.000   4/30/2012     EUR    70.40
DEUTSCHE BANK AG          7.000   4/30/2012     EUR    63.00
DEUTSCHE BANK AG          7.000   4/30/2012     EUR    67.80
DEUTSCHE BANK AG          8.000   4/30/2012     EUR    70.50
DEUTSCHE BANK AG          8.000   4/30/2012     EUR    65.20
DEUTSCHE BANK AG          8.000   4/30/2012     EUR    60.10
DEUTSCHE BANK AG          8.000   4/30/2012     EUR    67.70
DEUTSCHE BANK AG         10.000   4/30/2012     EUR    73.80
DEUTSCHE BANK AG         10.000   4/30/2012     EUR    64.60
DEUTSCHE BANK AG         10.000   4/30/2012     EUR    58.00
DEUTSCHE BANK AG         10.000   4/30/2012     EUR    62.90
DEUTSCHE BANK AG         10.000   4/30/2012     EUR    67.30
DEUTSCHE BANK AG          7.000   5/31/2012     EUR    70.40
DEUTSCHE BANK AG          7.000   5/31/2012     EUR    63.80
DEUTSCHE BANK AG          7.000   5/31/2012     EUR    68.00
DEUTSCHE BANK AG          7.000   5/31/2012     EUR    72.80
DEUTSCHE BANK AG          8.000   5/31/2012     EUR    66.30
DEUTSCHE BANK AG          8.000   5/31/2012     EUR    70.00
DEUTSCHE BANK AG          8.000   5/31/2012     EUR    74.50
DEUTSCHE BANK AG          8.000   5/31/2012     EUR    64.80
DEUTSCHE BANK AG          8.000   5/31/2012     EUR    61.40
DEUTSCHE BANK AG         10.000   5/31/2012     EUR    62.60
DEUTSCHE BANK AG         10.000   5/31/2012     EUR    64.10
DEUTSCHE BANK AG         10.000   5/31/2012     EUR    67.70
DEUTSCHE BANK AG         10.000   5/31/2012     EUR    71.30
DEUTSCHE BANK AG         10.000   5/31/2012     EUR    58.90
DEUTSCHE BANK AG          7.000   6/29/2012     EUR    62.90
DEUTSCHE BANK AG          7.000   6/29/2012     EUR    70.70
DEUTSCHE BANK AG          7.000   6/29/2012     EUR    73.00
DEUTSCHE BANK AG          7.000   6/29/2012     EUR    72.20
DEUTSCHE BANK AG          7.000   6/29/2012     EUR    70.20
DEUTSCHE BANK AG          8.000   6/29/2012     EUR    66.10
DEUTSCHE BANK AG          8.000   6/29/2012     EUR    69.60
DEUTSCHE BANK AG          8.000   6/29/2012     EUR    69.60
DEUTSCHE BANK AG          8.000   6/29/2012     EUR    68.20
DEUTSCHE BANK AG          8.000   6/29/2012     EUR    60.70
DEUTSCHE BANK AG         10.000   6/29/2012     EUR    58.50
DEUTSCHE BANK AG         10.000   6/29/2012     EUR    63.00
DEUTSCHE BANK AG         10.000   6/29/2012     EUR    68.30
DEUTSCHE BANK AG         10.000   6/29/2012     EUR    67.50
DEUTSCHE BANK AG         10.000   6/29/2012     EUR    65.90
DEUTSCHE BANK AG          7.000   7/31/2012     EUR    71.10
DEUTSCHE BANK AG          7.000   7/31/2012     EUR    71.10
DEUTSCHE BANK AG          8.000   7/31/2012     EUR    68.70
DEUTSCHE BANK AG          8.000   7/31/2012     EUR    68.70
DEUTSCHE BANK AG         10.000   7/31/2012     EUR    66.20
DEUTSCHE BANK AG         10.000   7/31/2012     EUR    67.00
DEUTSCHE BANK AG         10.000   7/31/2012     EUR    72.90
DEUTSCHE BANK AG         10.000   7/31/2012     EUR    71.40
DEUTSCHE BANK AG         10.000   7/31/2012     EUR    73.80
DEUTSCHE BANK AG          8.000  12/20/2012     EUR    55.30
DEUTSCHE BANK AG         15.000   2/20/2013     EUR    74.30
DEUTSCHE BANK AG         15.000   2/20/2013     EUR    72.20
DRESDNER BANK AG          7.350   6/13/2028     EUR    73.13
DRESDNER BANK AG          5.290   5/31/2021     EUR    73.90
DRESDNER BANK AG          5.700   7/31/2023     EUR    71.43
DRESDNER BANK AG          6.180   2/28/2023     EUR    72.00
DZ BANK AG               10.750   6/22/2012     EUR    62.14
DZ BANK AG               10.750   6/22/2012     EUR    56.50
DZ BANK AG               10.750   6/22/2012     EUR    70.86
DZ BANK AG               10.500   6/22/2012     EUR    43.41
DZ BANK AG               10.000   6/22/2012     EUR    65.94
DZ BANK AG                9.750   6/22/2012     EUR    69.64
DZ BANK AG                9.750   6/22/2012     EUR    67.68
DZ BANK AG                9.000   6/22/2012     EUR    39.76
DZ BANK AG                9.000   6/22/2012     EUR    62.29
DZ BANK AG                8.750   6/22/2012     EUR    74.56
DZ BANK AG                8.500   6/22/2012     EUR    71.56
DZ BANK AG                8.250   6/22/2012     EUR    72.07
DZ BANK AG                8.000   6/22/2012     EUR    47.30
DZ BANK AG                7.500   6/22/2012     EUR    69.73
DZ BANK AG                7.250   6/22/2012     EUR    73.77
DZ BANK AG                6.250   6/22/2012     EUR    72.41
DZ BANK AG                5.500   6/22/2012     EUR    72.91
DZ BANK AG                5.250   6/22/2012     EUR    74.39
DZ BANK AG                4.000   6/20/2012     EUR    66.20
DZ BANK AG                8.000   6/11/2012     EUR    64.94
DZ BANK AG               12.250    6/8/2012     EUR    73.84
DZ BANK AG               11.250    6/8/2012     EUR    60.43
DZ BANK AG               10.750    6/8/2012     EUR    74.29
DZ BANK AG               10.500    6/8/2012     EUR    56.10
DZ BANK AG                5.500   6/22/2012     EUR    74.70
DZ BANK AG                9.500    6/8/2012     EUR    72.05
DZ BANK AG                9.250    6/8/2012     EUR    61.84
DZ BANK AG                9.000    6/8/2012     EUR    67.13
DZ BANK AG                8.000    6/8/2012     EUR    68.38
DZ BANK AG                8.000    6/8/2012     EUR    70.11
DZ BANK AG                7.750    6/8/2012     EUR    72.07
DZ BANK AG                7.500    6/8/2012     EUR    64.70
DZ BANK AG                6.750    6/8/2012     EUR    64.12
DZ BANK AG                6.200   7/13/2012     EUR    73.40
DZ BANK AG                9.750    6/8/2012     EUR    72.16
DZ BANK AG                7.000   7/13/2012     EUR    65.77
DZ BANK AG                7.250   7/13/2012     EUR    66.27
DZ BANK AG                7.500   7/13/2012     EUR    58.29
DZ BANK AG                8.250   7/13/2012     EUR    70.37
DZ BANK AG                8.500   7/13/2012     EUR    64.36
DZ BANK AG                8.500   7/13/2012     EUR    60.54
DZ BANK AG               12.500   7/13/2012     EUR    67.75
DZ BANK AG                6.000   7/27/2012     EUR    72.34
DZ BANK AG                8.000   7/27/2012     EUR    66.17
DZ BANK AG                6.750   7/13/2012     EUR    68.70
DZ BANK AG                9.250   7/27/2012     EUR    71.28
DZ BANK AG                9.800   7/27/2012     EUR    66.82
DZ BANK AG               10.000   7/27/2012     EUR    72.27
DZ BANK AG               10.500   7/27/2012     EUR    70.71
DZ BANK AG               10.750   7/27/2012     EUR    61.79
DZ BANK AG               11.250   7/27/2012     EUR    71.08
DZ BANK AG               11.500   7/27/2012     EUR    61.47
DZ BANK AG               12.000   7/27/2012     EUR    67.93
DZ BANK AG               12.500   7/27/2012     EUR    69.05
DZ BANK AG                9.000   7/27/2012     EUR    74.36
DZ BANK AG               15.250   7/27/2012     EUR    66.38
DZ BANK AG                5.000   9/14/2012     EUR    70.32
DZ BANK AG                5.850   9/14/2012     EUR    71.30
DZ BANK AG                6.250   9/14/2012     EUR    66.44
DZ BANK AG                7.500   9/14/2012     EUR    66.60
DZ BANK AG                8.000   9/14/2012     EUR    61.67
DZ BANK AG                8.500   9/14/2012     EUR    67.62
DZ BANK AG               10.500   9/14/2012     EUR    62.02
DZ BANK AG                4.500   10/5/2012     EUR    68.25
DZ BANK AG                5.700   10/5/2012     EUR    66.12
DZ BANK AG               15.000   7/27/2012     EUR    57.29
DZ BANK AG                7.000  10/12/2012     EUR    69.62
DZ BANK AG                7.000  10/12/2012     EUR    59.77
DZ BANK AG                8.000  10/12/2012     EUR    61.84
DZ BANK AG                3.850  12/21/2012     EUR    28.50
DZ BANK AG                5.000   3/22/2013     EUR    18.55
DZ BANK AG                5.000   3/22/2013     EUR    18.51
DZ BANK AG                5.410   3/22/2013     EUR    21.50
DZ BANK AG                5.000   6/24/2013     EUR    20.28
DZ BANK AG                5.270   6/24/2013     EUR    35.00
DZ BANK AG                5.760  12/23/2013     EUR    69.78
DZ BANK AG                8.300   10/5/2012     EUR    62.60
DZ BANK AG                5.500   3/25/2015     EUR    20.25
DZ BANK AG                0.526  12/27/2016     EUR    19.45
DZ BANK AG                5.000   6/22/2018     EUR    49.66
DZ BANK AG                6.000    6/8/2012     EUR    69.48
DZ BANK AG                8.000    6/7/2012     EUR    69.80
DZ BANK AG                5.000   7/13/2012     EUR    66.70
DZ BANK AG                7.000   7/11/2012     EUR    72.58
DZ BANK AG               16.000   6/22/2012     EUR    14.12
DZ BANK AG               13.000   6/22/2012     EUR    46.99
DZ BANK AG               12.000   6/22/2012     EUR    57.71
DZ BANK AG               11.750   6/22/2012     EUR    72.47
DZ BANK AG               11.750   6/22/2012     EUR    60.54
DZ BANK AG               11.750   6/22/2012     EUR    54.33
DZ BANK AG               11.250   6/22/2012     EUR    50.81
DZ BANK AG               11.000   6/22/2012     EUR    58.59
DZ BANK AG               11.000   6/22/2012     EUR    45.97
DZ BANK AG                3.400   3/25/2015     EUR    65.96
DZ BANK AG                9.250   5/11/2012     EUR    64.69
DZ BANK AG               16.500   4/27/2012     EUR     2.34
DZ BANK AG               15.500   4/27/2012     EUR    71.97
DZ BANK AG               11.250   4/27/2012     EUR    61.13
DZ BANK AG                9.000   4/27/2012     EUR    45.96
DZ BANK AG               21.500   3/23/2012     EUR     9.54
DZ BANK AG               14.500   3/23/2012     EUR    59.30
DZ BANK AG               10.250   3/23/2012     EUR    74.41
DZ BANK AG                9.000   3/23/2012     EUR    57.40
DZ BANK AG                8.750   3/23/2012     EUR    49.75
DZ BANK AG                7.250   3/23/2012     EUR    70.94
DZ BANK AG               10.000    3/9/2012     EUR    69.38
DZ BANK AG                7.250    3/9/2012     EUR    67.01
ESCADA AG                 7.500    4/1/2012     EUR     8.64
EUROHYPO AG               3.830   9/21/2020     EUR    73.00
HECKLER & KOCH            9.500   5/15/2018     EUR    64.88
HECKLER & KOCH            9.500   5/15/2018     EUR    64.00
HEIDELBERG DRUCK          9.250   4/15/2018     EUR    72.67
HEIDELBERG DRUCK          9.250   4/15/2018     EUR    72.75
IKB DEUT INDUSTR          6.500   3/31/2012     EUR    17.42
L-BANK FOERDERBK          0.500   5/10/2027     CAD    50.33
LANDESBK BERLIN           5.500  12/23/2013     EUR    71.75
LB BADEN-WUERTT          10.000  10/26/2012     EUR    71.91
LB BADEN-WUERTT          10.000  10/26/2012     EUR    68.33
LB BADEN-WUERTT           5.000  11/23/2012     EUR    67.45
LB BADEN-WUERTT          10.000  10/26/2012     EUR    33.32
LB BADEN-WUERTT           7.500  11/23/2012     EUR    71.99
LB BADEN-WUERTT           7.500  11/23/2012     EUR    60.80
LB BADEN-WUERTT           7.500  11/23/2012     EUR    75.67
LB BADEN-WUERTT           7.500  11/23/2012     EUR    35.87
LB BADEN-WUERTT           5.000  11/23/2012     EUR    38.60
LB BADEN-WUERTT          10.000  11/23/2012     EUR    70.98
LB BADEN-WUERTT          10.000  11/23/2012     EUR    34.41
LB BADEN-WUERTT          10.000  11/23/2012     EUR    70.44
LB BADEN-WUERTT          10.000  11/23/2012     EUR    73.49
LB BADEN-WUERTT           7.500  11/23/2012     EUR    74.87
LB BADEN-WUERTT          10.000  11/23/2012     EUR    67.64
LB BADEN-WUERTT          15.000  11/23/2012     EUR    74.31
LB BADEN-WUERTT           3.750  12/20/2012     EUR    17.00
LB BADEN-WUERTT           5.000    1/4/2013     EUR    39.25
LB BADEN-WUERTT          10.000  11/23/2012     EUR    57.00
LB BADEN-WUERTT           5.000    1/4/2013     EUR    69.17
LB BADEN-WUERTT           7.500    1/4/2013     EUR    72.70
LB BADEN-WUERTT           7.500    1/4/2013     EUR    36.39
LB BADEN-WUERTT           7.500    1/4/2013     EUR    71.18
LB BADEN-WUERTT           5.000    1/4/2013     EUR    58.36
LB BADEN-WUERTT           7.500    1/4/2013     EUR    52.37
LB BADEN-WUERTT          10.000    1/4/2013     EUR    64.52
LB BADEN-WUERTT          10.000    1/4/2013     EUR    73.19
LB BADEN-WUERTT          10.000    1/4/2013     EUR    72.73
LB BADEN-WUERTT           7.500    1/4/2013     EUR    69.54
LB BADEN-WUERTT          10.000    1/4/2013     EUR    50.24
LB BADEN-WUERTT          10.000    1/4/2013     EUR    68.95
LB BADEN-WUERTT           5.000   1/25/2013     EUR    50.15
LB BADEN-WUERTT           7.500   1/25/2013     EUR    72.14
LB BADEN-WUERTT          10.000    1/4/2013     EUR    35.60
LB BADEN-WUERTT          10.000   1/25/2013     EUR    44.75
LB BADEN-WUERTT          10.000   1/25/2013     EUR    68.87
LB BADEN-WUERTT          10.000   1/25/2013     EUR    72.69
LB BADEN-WUERTT          10.000   1/25/2013     EUR    74.73
LB BADEN-WUERTT           7.500   1/25/2013     EUR    46.64
LB BADEN-WUERTT           4.000   9/20/2014     EUR    17.34
LB BADEN-WUERTT           4.500  12/20/2014     EUR    17.00
LB BADEN-WUERTT           5.250  10/20/2015     EUR    26.49
LB BADEN-WUERTT           6.750  12/31/2020     EUR    72.10
LB BADEN-WUERTT          15.000   2/22/2013     EUR    74.36
LB BADEN-WUERTT           7.500   6/22/2012     EUR    54.07
LB BADEN-WUERTT           8.000   3/23/2012     EUR     9.64
LB BADEN-WUERTT           8.000   3/23/2012     EUR    47.06
LB BADEN-WUERTT           8.000   3/23/2012     EUR    68.85
LB BADEN-WUERTT           8.000   3/23/2012     EUR    59.82
LB BADEN-WUERTT           6.000   3/23/2012     EUR    52.83
LB BADEN-WUERTT           6.000   3/23/2012     EUR    65.83
LB BADEN-WUERTT           6.000   3/23/2012     EUR    52.17
LB BADEN-WUERTT           7.500   6/22/2012     EUR    10.77
LB BADEN-WUERTT           7.500   6/22/2012     EUR    72.58
LB BADEN-WUERTT           7.500   6/22/2012     EUR    72.56
LB BADEN-WUERTT           7.500   6/22/2012     EUR    74.39
LB BADEN-WUERTT           7.500   6/22/2012     EUR    62.61
LB BADEN-WUERTT           7.500   6/22/2012     EUR    35.19
LB BADEN-WUERTT           7.500   6/22/2012     EUR    66.91
LB BADEN-WUERTT           7.500   6/22/2012     EUR    68.60
LB BADEN-WUERTT           7.500   6/22/2012     EUR    73.46
LB BADEN-WUERTT           8.000   6/22/2012     EUR    68.34
LB BADEN-WUERTT           8.000   6/22/2012     EUR    61.39
LB BADEN-WUERTT           8.000   6/22/2012     EUR    51.54
LB BADEN-WUERTT           8.000   6/22/2012     EUR    56.29
LB BADEN-WUERTT           8.000   6/22/2012     EUR    72.96
LB BADEN-WUERTT           8.000   6/22/2012     EUR    74.36
LB BADEN-WUERTT           8.000   6/22/2012     EUR    69.04
LB BADEN-WUERTT           8.000   6/22/2012     EUR    49.09
LB BADEN-WUERTT          10.000   6/22/2012     EUR    72.46
LB BADEN-WUERTT          10.000   6/22/2012     EUR    67.99
LB BADEN-WUERTT          10.000   6/22/2012     EUR    33.17
LB BADEN-WUERTT          10.000   6/22/2012     EUR    50.71
LB BADEN-WUERTT          10.000   6/22/2012     EUR    73.92
LB BADEN-WUERTT          10.000   6/22/2012     EUR    10.13
LB BADEN-WUERTT          10.000   6/22/2012     EUR    62.99
LB BADEN-WUERTT          10.000   6/22/2012     EUR    69.09
LB BADEN-WUERTT          10.000   6/22/2012     EUR    62.78
LB BADEN-WUERTT          10.000   6/22/2012     EUR    69.49
LB BADEN-WUERTT          10.000   6/22/2012     EUR    68.25
LB BADEN-WUERTT          10.000   6/22/2012     EUR    59.23
LB BADEN-WUERTT          10.000   6/22/2012     EUR    72.55
LB BADEN-WUERTT           4.000   7/27/2012     EUR    71.55
LB BADEN-WUERTT           4.000   7/27/2012     EUR    65.66
LB BADEN-WUERTT           5.000   7/27/2012     EUR    70.96
LB BADEN-WUERTT           5.000   7/27/2012     EUR    39.64
LB BADEN-WUERTT           5.000   7/27/2012     EUR    74.26
LB BADEN-WUERTT           5.000   7/27/2012     EUR    56.10
LB BADEN-WUERTT           5.000   7/27/2012     EUR    59.21
LB BADEN-WUERTT           5.000   7/27/2012     EUR    16.02
LB BADEN-WUERTT           5.000   7/27/2012     EUR    57.70
LB BADEN-WUERTT           5.000   7/27/2012     EUR    58.50
LB BADEN-WUERTT           6.000   7/27/2012     EUR    40.06
LB BADEN-WUERTT           6.000   7/27/2012     EUR    56.48
LB BADEN-WUERTT           6.000   7/27/2012     EUR    72.94
LB BADEN-WUERTT           6.000   7/27/2012     EUR    64.30
LB BADEN-WUERTT           7.500   7/27/2012     EUR    36.99
LB BADEN-WUERTT           7.500   7/27/2012     EUR    72.78
LB BADEN-WUERTT           7.500   7/27/2012     EUR    65.52
LB BADEN-WUERTT           7.500   7/27/2012     EUR    67.73
LB BADEN-WUERTT           7.500   7/27/2012     EUR    50.89
LB BADEN-WUERTT           7.500   7/27/2012     EUR    69.11
LB BADEN-WUERTT           7.500   7/27/2012     EUR    69.03
LB BADEN-WUERTT           7.500   7/27/2012     EUR    16.94
LB BADEN-WUERTT           7.500   7/27/2012     EUR    53.39
LB BADEN-WUERTT           7.500   7/27/2012     EUR    74.35
LB BADEN-WUERTT           7.500   7/27/2012     EUR    54.08
LB BADEN-WUERTT           8.000   7/27/2012     EUR    71.33
LB BADEN-WUERTT           8.000   7/27/2012     EUR    58.46
LB BADEN-WUERTT           8.000   7/27/2012     EUR    71.84
LB BADEN-WUERTT           8.000   7/27/2012     EUR    68.43
LB BADEN-WUERTT           8.000   7/27/2012     EUR    51.67
LB BADEN-WUERTT          10.000   7/27/2012     EUR    35.34
LB BADEN-WUERTT          10.000   7/27/2012     EUR    72.86
LB BADEN-WUERTT          10.000   7/27/2012     EUR    17.86
LB BADEN-WUERTT          10.000   7/27/2012     EUR    63.82
LB BADEN-WUERTT          10.000   7/27/2012     EUR    72.09
LB BADEN-WUERTT          10.000   7/27/2012     EUR    63.69
LB BADEN-WUERTT          10.000   7/27/2012     EUR    50.30
LB BADEN-WUERTT          10.000   7/27/2012     EUR    62.10
LB BADEN-WUERTT          10.000   7/27/2012     EUR    47.79
LB BADEN-WUERTT          10.000   7/27/2012     EUR    64.09
LB BADEN-WUERTT          10.000   7/27/2012     EUR    68.75
LB BADEN-WUERTT          10.000   7/27/2012     EUR    50.45
LB BADEN-WUERTT          10.000   7/27/2012     EUR    70.06
LB BADEN-WUERTT           4.000   8/24/2012     EUR    54.60
LB BADEN-WUERTT           5.000   8/24/2012     EUR    47.86
LB BADEN-WUERTT           5.000   8/24/2012     EUR    56.57
LB BADEN-WUERTT           6.000   8/24/2012     EUR    74.45
LB BADEN-WUERTT           6.000   8/24/2012     EUR    47.55
LB BADEN-WUERTT           6.000   8/24/2012     EUR    73.58
LB BADEN-WUERTT           6.000   8/24/2012     EUR    72.89
LB BADEN-WUERTT           6.000   3/23/2012     EUR    64.25
LB BADEN-WUERTT           6.000   3/23/2012     EUR    10.32
LB BADEN-WUERTT           6.000   3/23/2012     EUR    73.20
LB BADEN-WUERTT           6.000   3/23/2012     EUR    49.07
LB BADEN-WUERTT           6.000   3/23/2012     EUR    43.53
LB BADEN-WUERTT           4.000   3/23/2012     EUR    58.53
LB BADEN-WUERTT           4.000   3/23/2012     EUR    10.27
LB BADEN-WUERTT           7.500   8/24/2012     EUR    70.79
LB BADEN-WUERTT           7.500   8/24/2012     EUR    43.24
LB BADEN-WUERTT           7.500   8/24/2012     EUR    71.91
LB BADEN-WUERTT           4.000   3/23/2012     EUR    71.15
LB BADEN-WUERTT           4.000   3/23/2012     EUR    60.72
LB BADEN-WUERTT           4.000   3/23/2012     EUR    49.03
LB BADEN-WUERTT           4.000   3/23/2012     EUR    60.65
LB BADEN-WUERTT           7.500   8/24/2012     EUR    74.08
LB BADEN-WUERTT           7.500   8/24/2012     EUR    71.29
LB BADEN-WUERTT           7.500   8/24/2012     EUR    51.71
LB BADEN-WUERTT           8.000   8/24/2012     EUR    69.91
LB BADEN-WUERTT           8.000   8/24/2012     EUR    72.17
LB BADEN-WUERTT           8.000   8/24/2012     EUR    72.22
LB BADEN-WUERTT           8.000   8/24/2012     EUR    68.88
LB BADEN-WUERTT           8.000   8/24/2012     EUR    69.75
LB BADEN-WUERTT           8.000   8/24/2012     EUR    68.08
LB BADEN-WUERTT           8.000   8/24/2012     EUR    43.81
LB BADEN-WUERTT           8.000   8/24/2012     EUR    70.45
LB BADEN-WUERTT           8.000   8/24/2012     EUR    70.19
LB BADEN-WUERTT          10.000   8/24/2012     EUR    72.15
LB BADEN-WUERTT          10.000   8/24/2012     EUR    71.64
LB BADEN-WUERTT           8.000   8/24/2012     EUR    68.66
LB BADEN-WUERTT          10.000   8/24/2012     EUR    48.68
LB BADEN-WUERTT          10.000   8/24/2012     EUR    70.19
LB BADEN-WUERTT          10.000   8/24/2012     EUR    66.47
LB BADEN-WUERTT          10.000   8/24/2012     EUR    68.51
LB BADEN-WUERTT          10.000   8/24/2012     EUR    72.60
LB BADEN-WUERTT          10.000   8/24/2012     EUR    40.87
LB BADEN-WUERTT          10.000   8/24/2012     EUR    67.56
LB BADEN-WUERTT           4.000   9/28/2012     EUR    51.82
LB BADEN-WUERTT          10.000   8/24/2012     EUR    70.42
LB BADEN-WUERTT           6.000   9/28/2012     EUR    68.78
LB BADEN-WUERTT           6.000   9/28/2012     EUR    73.82
LB BADEN-WUERTT           4.000   9/28/2012     EUR    59.57
LB BADEN-WUERTT           6.000   9/28/2012     EUR    52.61
LB BADEN-WUERTT           8.000   9/28/2012     EUR    67.16
LB BADEN-WUERTT           6.000   9/28/2012     EUR    44.20
LB BADEN-WUERTT           8.000   9/28/2012     EUR    39.99
LB BADEN-WUERTT           8.000   9/28/2012     EUR    63.37
LB BADEN-WUERTT           8.000   9/28/2012     EUR    49.10
LB BADEN-WUERTT           5.000  10/26/2012     EUR    73.83
LB BADEN-WUERTT           5.000  10/26/2012     EUR    10.04
LB BADEN-WUERTT           5.000  10/26/2012     EUR    38.15
LB BADEN-WUERTT           7.500  10/26/2012     EUR    10.76
LB BADEN-WUERTT           7.500  10/26/2012     EUR    74.04
LB BADEN-WUERTT           7.500  10/26/2012     EUR    66.77
LB BADEN-WUERTT           7.500  10/26/2012     EUR    72.96
LB BADEN-WUERTT           7.500  10/26/2012     EUR    67.16
LB BADEN-WUERTT           7.500  10/26/2012     EUR    34.87
LB BADEN-WUERTT          10.000  10/26/2012     EUR    62.64
LB BADEN-WUERTT          10.000  10/26/2012     EUR    11.37
LB BADEN-WUERTT          10.000  10/26/2012     EUR    61.95
LB BADEN-WUERTT          10.000  10/26/2012     EUR    69.62
LB BADEN-WUERTT           2.800   2/23/2037     JPY    48.08
LB BADEN-WUERTT           6.000   6/22/2012     EUR    68.39
LB BADEN-WUERTT           6.000   6/22/2012     EUR    61.52
LB BADEN-WUERTT           6.000   6/22/2012     EUR    54.96
LB BADEN-WUERTT           5.000   6/22/2012     EUR    67.89
LB BADEN-WUERTT           5.000   6/22/2012     EUR    38.79
LB BADEN-WUERTT           5.000   6/22/2012     EUR    11.45
LB BADEN-WUERTT           5.000   6/22/2012     EUR    71.36
LB BADEN-WUERTT           5.000   6/22/2012     EUR    73.29
LB BADEN-WUERTT           5.000   6/22/2012     EUR    59.24
LB BADEN-WUERTT           4.000   6/22/2012     EUR    63.96
LB BADEN-WUERTT           4.000   6/22/2012     EUR    70.14
LB BADEN-WUERTT           4.000   6/22/2012     EUR    65.91
LB BADEN-WUERTT           8.350   5/25/2012     EUR    53.74
LB BADEN-WUERTT           8.000   5/25/2012     EUR    45.78
LB BADEN-WUERTT           8.000   5/25/2012     EUR    63.04
LB BADEN-WUERTT           8.000   5/25/2012     EUR    65.86
LB BADEN-WUERTT           8.000   5/25/2012     EUR    73.85
LB BADEN-WUERTT           8.000   5/25/2012     EUR    70.03
LB BADEN-WUERTT           8.000   5/25/2012     EUR    55.29
LB BADEN-WUERTT           6.000   5/25/2012     EUR    75.13
LB BADEN-WUERTT           6.000   5/25/2012     EUR    69.24
LB BADEN-WUERTT           6.000   5/25/2012     EUR    73.69
LB BADEN-WUERTT           6.000   5/25/2012     EUR    50.05
LB BADEN-WUERTT           6.000   5/25/2012     EUR    60.31
LB BADEN-WUERTT           4.000   5/25/2012     EUR    60.99
LB BADEN-WUERTT           4.000   5/25/2012     EUR    67.94
LB BADEN-WUERTT           8.000   4/27/2012     EUR    56.95
LB BADEN-WUERTT           8.000   4/27/2012     EUR    68.36
LB BADEN-WUERTT           8.000   4/27/2012     EUR    73.86
LB BADEN-WUERTT           8.000   4/27/2012     EUR    46.06
LB BADEN-WUERTT           8.000   4/27/2012     EUR    70.00
LB BADEN-WUERTT           8.000   4/27/2012     EUR    74.17
LB BADEN-WUERTT           8.000   4/27/2012     EUR    10.80
LB BADEN-WUERTT           8.000   4/27/2012     EUR    50.19
LB BADEN-WUERTT           8.000   4/27/2012     EUR    69.44
LB BADEN-WUERTT           8.000   4/27/2012     EUR    69.81
LB BADEN-WUERTT           8.000   4/27/2012     EUR     9.84
LB BADEN-WUERTT           8.000   4/27/2012     EUR    61.67
LB BADEN-WUERTT           8.000   4/27/2012     EUR    71.18
LB BADEN-WUERTT           8.000   4/27/2012     EUR    72.55
LB BADEN-WUERTT           8.000   4/27/2012     EUR    54.49
LB BADEN-WUERTT           8.000   4/27/2012     EUR    42.01
LB BADEN-WUERTT           8.000   4/27/2012     EUR    34.51
LB BADEN-WUERTT           6.000   4/27/2012     EUR    74.48
LB BADEN-WUERTT           6.000   4/27/2012     EUR    49.13
LB BADEN-WUERTT           6.000   4/27/2012     EUR    12.31
LB BADEN-WUERTT           6.000   4/27/2012     EUR    75.32
LB BADEN-WUERTT           6.000   4/27/2012     EUR    65.55
LB BADEN-WUERTT           6.000   4/27/2012     EUR    62.15
LB BADEN-WUERTT           6.000   4/27/2012     EUR    47.64
LB BADEN-WUERTT           6.000   4/27/2012     EUR    54.34
LB BADEN-WUERTT           6.000   4/27/2012     EUR    37.26
LB BADEN-WUERTT           6.000   4/27/2012     EUR    74.59
LB BADEN-WUERTT           6.000   4/27/2012     EUR    59.65
LB BADEN-WUERTT           6.000   4/27/2012     EUR    10.55
LB BADEN-WUERTT           4.000   4/27/2012     EUR    53.27
LB BADEN-WUERTT           4.000   4/27/2012     EUR    71.01
LB BADEN-WUERTT           4.000   4/27/2012     EUR    71.50
LB BADEN-WUERTT           4.000   4/27/2012     EUR    60.23
LB BADEN-WUERTT           4.000   4/27/2012     EUR    57.94
LB BADEN-WUERTT           4.000   4/27/2012     EUR    67.97
LB BADEN-WUERTT           4.000   4/27/2012     EUR    12.06
LB BADEN-WUERTT           4.000   4/27/2012     EUR    11.48
LB BADEN-WUERTT           4.000   4/27/2012     EUR    40.60
LB BADEN-WUERTT           8.000   3/23/2012     EUR    72.72
LB BADEN-WUERTT           8.000   3/23/2012     EUR    59.70
LB BADEN-WUERTT           8.000   3/23/2012     EUR    70.00
LB BADEN-WUERTT           8.000   3/23/2012     EUR    71.42
LB BADEN-WUERTT           8.000   3/23/2012     EUR    40.53
LB BADEN-WUERTT           8.000   3/23/2012     EUR    48.73
LB BADEN-WUERTT           8.000   3/23/2012     EUR    42.76
LB BADEN-WUERTT           6.000   6/22/2012     EUR    74.49
LB BADEN-WUERTT           6.000   6/22/2012     EUR    57.08
MACQUARIE STRUCT         11.500   9/28/2012     EUR    62.05
MACQUARIE STRUCT          9.250   6/22/2012     EUR    44.22
MACQUARIE STRUCT          9.750   6/22/2012     EUR    66.33
MACQUARIE STRUCT          9.250   6/22/2012     EUR    70.03
MACQUARIE STRUCT          9.000   6/22/2012     EUR    69.52
MACQUARIE STRUCT          7.000   5/11/2012     EUR    72.89
MACQUARIE STRUCT         13.250   4/27/2012     EUR    60.10
MACQUARIE STRUCT         10.500   4/27/2012     EUR    59.44
MACQUARIE STRUCT         26.000   3/23/2012     EUR    67.63
MACQUARIE STRUCT         23.750   3/23/2012     EUR     7.88
MACQUARIE STRUCT         15.000   3/23/2012     EUR    34.44
MACQUARIE STRUCT         14.750   3/23/2012     EUR    38.33
MACQUARIE STRUCT         14.250   3/23/2012     EUR    56.72
MACQUARIE STRUCT         13.500   3/23/2012     EUR    71.69
MACQUARIE STRUCT         13.250   3/23/2012     EUR    37.88
MACQUARIE STRUCT         13.250   3/23/2012     EUR    48.50
MACQUARIE STRUCT         12.000   3/23/2012     EUR    66.59
MACQUARIE STRUCT         11.250   3/23/2012     EUR    71.49
MACQUARIE STRUCT         11.000   3/23/2012     EUR    62.57
MACQUARIE STRUCT         10.750   3/23/2012     EUR    72.49
MACQUARIE STRUCT         10.500   3/23/2012     EUR    50.28
MACQUARIE STRUCT          9.750   3/23/2012     EUR    51.59
MACQUARIE STRUCT          8.750   3/23/2012     EUR    67.28
MACQUARIE STRUCT          7.250   3/23/2012     EUR    66.79
MACQUARIE STRUCT          9.750   9/28/2012     EUR    63.26
MACQUARIE STRUCT         10.000   9/28/2012     EUR    73.16
MACQUARIE STRUCT          9.000   9/28/2012     EUR    64.76
MACQUARIE STRUCT          9.250   9/28/2012     EUR    69.57
MACQUARIE STRUCT         18.500   6/22/2012     EUR    73.79
MACQUARIE STRUCT         23.250   6/22/2012     EUR     9.15
MACQUARIE STRUCT         16.000   6/22/2012     EUR    30.49
MACQUARIE STRUCT         17.000   6/22/2012     EUR    54.41
MACQUARIE STRUCT         15.750   6/22/2012     EUR    26.19
MACQUARIE STRUCT         15.750   6/22/2012     EUR    68.85
MACQUARIE STRUCT         13.000   6/22/2012     EUR    75.02
MACQUARIE STRUCT         13.500   6/22/2012     EUR    37.31
MACQUARIE STRUCT         12.500   6/22/2012     EUR    52.62
MACQUARIE STRUCT         12.500   6/22/2012     EUR    44.42
MACQUARIE STRUCT         11.750   6/22/2012     EUR    68.87
MACQUARIE STRUCT         12.000   6/22/2012     EUR    75.62
MACQUARIE STRUCT         11.500   6/22/2012     EUR    43.00
MACQUARIE STRUCT         11.500   6/22/2012     EUR    64.07
MACQUARIE STRUCT         10.750   6/22/2012     EUR    41.68
MACQUARIE STRUCT         11.500   6/22/2012     EUR    70.12
MACQUARIE STRUCT         10.000   6/22/2012     EUR    57.49
MACQUARIE STRUCT         10.250   6/22/2012     EUR    57.94
NORDDEUTSCHE L/B          7.000    6/8/2012     EUR    68.13
PRAKTIKER BAU-UN          5.875   2/10/2016     EUR    30.00
Q-CELLS                   6.750  10/21/2015     EUR     0.76
QIMONDA FINANCE           6.750   3/22/2013     USD     1.00
SOLARWORLD AG             6.125   1/21/2017     EUR    47.01
SOLARWORLD AG             6.375   7/13/2016     EUR    46.49
TAG IMMO AG               6.500  12/10/2015     EUR     7.55
TUI AG                    5.500  11/17/2014     EUR    67.50
TUI AG                    2.750   3/24/2016     EUR    49.81
UNICREDIT BANK A          7.000   6/21/2012     EUR    53.74
VONTOBEL FIN PRO         10.128   3/23/2012     EUR    74.18
VONTOBEL FIN PRO         11.564   3/16/2012     EUR    50.70
VONTOBEL FIN PRO          6.613   3/23/2012     EUR    63.26
VONTOBEL FIN PRO          6.702   3/23/2012     EUR    74.06
VONTOBEL FIN PRO          7.226   3/23/2012     EUR    61.96
VONTOBEL FIN PRO          7.340   3/23/2012     EUR    59.08
VONTOBEL FIN PRO          7.489   3/23/2012     EUR    73.94
VONTOBEL FIN PRO          7.638   3/23/2012     EUR    69.40
VONTOBEL FIN PRO          7.679   3/23/2012     EUR    74.10
VONTOBEL FIN PRO          7.708   3/23/2012     EUR    73.56
VONTOBEL FIN PRO          7.733   3/23/2012     EUR    59.54
VONTOBEL FIN PRO          7.839   3/23/2012     EUR    70.36
VONTOBEL FIN PRO          7.897   3/23/2012     EUR    61.66
VONTOBEL FIN PRO          7.928   3/23/2012     EUR    66.16
VONTOBEL FIN PRO          8.051   3/23/2012     EUR    54.56
VONTOBEL FIN PRO          8.061   3/23/2012     EUR    66.24
VONTOBEL FIN PRO          8.186   3/23/2012     EUR    42.20
VONTOBEL FIN PRO          8.321   3/23/2012     EUR    74.32
VONTOBEL FIN PRO          8.333   3/23/2012     EUR    46.30
VONTOBEL FIN PRO          8.463   3/23/2012     EUR    67.54
VONTOBEL FIN PRO          8.476   3/23/2012     EUR    56.74
VONTOBEL FIN PRO          8.584   3/23/2012     EUR    58.04
VONTOBEL FIN PRO          8.584   3/23/2012     EUR    51.58
VONTOBEL FIN PRO          8.592   3/23/2012     EUR    74.80
VONTOBEL FIN PRO          8.626   3/23/2012     EUR    53.24
VONTOBEL FIN PRO          8.662   3/23/2012     EUR    66.18
VONTOBEL FIN PRO          8.758   3/23/2012     EUR    57.96
VONTOBEL FIN PRO          8.759   3/23/2012     EUR    66.42
VONTOBEL FIN PRO          8.835   3/23/2012     EUR    69.46
VONTOBEL FIN PRO          8.842   3/23/2012     EUR    68.36
VONTOBEL FIN PRO          8.901   3/23/2012     EUR    64.48
VONTOBEL FIN PRO          8.929   3/23/2012     EUR    64.44
VONTOBEL FIN PRO          8.934   3/23/2012     EUR    51.04
VONTOBEL FIN PRO          9.000   3/23/2012     EUR    55.74
VONTOBEL FIN PRO          9.064   3/23/2012     EUR    55.34
VONTOBEL FIN PRO          9.107   3/23/2012     EUR    70.84
VONTOBEL FIN PRO          9.108   3/23/2012     EUR    72.02
VONTOBEL FIN PRO          9.165   3/23/2012     EUR    71.20
VONTOBEL FIN PRO          9.168   3/23/2012     EUR    74.12
VONTOBEL FIN PRO          9.175   3/23/2012     EUR    68.44
VONTOBEL FIN PRO          9.177   3/23/2012     EUR    70.92
VONTOBEL FIN PRO          9.193   3/23/2012     EUR    70.88
VONTOBEL FIN PRO          9.312   3/23/2012     EUR    74.34
VONTOBEL FIN PRO          9.335   3/23/2012     EUR    64.82
VONTOBEL FIN PRO          9.372   3/23/2012     EUR    65.74
VONTOBEL FIN PRO          9.460   3/23/2012     EUR    56.14
VONTOBEL FIN PRO          9.506   3/23/2012     EUR    70.82
VONTOBEL FIN PRO          9.546   3/23/2012     EUR    69.56
VONTOBEL FIN PRO          9.587   3/23/2012     EUR    62.08
VONTOBEL FIN PRO          9.595   3/23/2012     EUR    63.14
VONTOBEL FIN PRO          9.624   3/23/2012     EUR    72.16
VONTOBEL FIN PRO          9.661   3/23/2012     EUR    74.16
VONTOBEL FIN PRO          9.666   3/23/2012     EUR    67.08
VONTOBEL FIN PRO          9.718   3/23/2012     EUR    70.92
VONTOBEL FIN PRO          9.728   3/23/2012     EUR    67.04
VONTOBEL FIN PRO          9.743   3/23/2012     EUR    51.62
VONTOBEL FIN PRO          9.744   3/23/2012     EUR    67.58
VONTOBEL FIN PRO          9.776   3/23/2012     EUR    74.82
VONTOBEL FIN PRO          9.784   3/23/2012     EUR    73.92
VONTOBEL FIN PRO          9.810   3/23/2012     EUR    70.16
VONTOBEL FIN PRO          9.814   3/23/2012     EUR    74.08
VONTOBEL FIN PRO          9.891   3/23/2012     EUR    68.40
VONTOBEL FIN PRO          9.908   3/23/2012     EUR    63.16
VONTOBEL FIN PRO         10.005   3/23/2012     EUR    70.42
VONTOBEL FIN PRO         10.029   3/23/2012     EUR    70.66
VONTOBEL FIN PRO         10.034   3/23/2012     EUR    72.26
VONTOBEL FIN PRO         10.039   3/23/2012     EUR    74.00
VONTOBEL FIN PRO         10.117   3/23/2012     EUR    62.60
VONTOBEL FIN PRO         10.212   3/23/2012     EUR    46.50
VONTOBEL FIN PRO         10.219   3/23/2012     EUR    45.00
VONTOBEL FIN PRO         10.279   3/23/2012     EUR    73.64
VONTOBEL FIN PRO         10.324   3/23/2012     EUR    56.18
VONTOBEL FIN PRO         10.333   3/23/2012     EUR    73.56
VONTOBEL FIN PRO         10.351   3/23/2012     EUR    74.54
VONTOBEL FIN PRO         10.436   3/23/2012     EUR    66.30
VONTOBEL FIN PRO         10.442   3/23/2012     EUR    61.72
VONTOBEL FIN PRO         10.467   3/23/2012     EUR    73.96
VONTOBEL FIN PRO         10.470   3/23/2012     EUR    61.60
VONTOBEL FIN PRO         10.475   3/23/2012     EUR    57.94
VONTOBEL FIN PRO         10.485   3/23/2012     EUR    68.18
VONTOBEL FIN PRO         10.515   3/23/2012     EUR    62.80
VONTOBEL FIN PRO         10.556   3/23/2012     EUR    65.12
VONTOBEL FIN PRO         10.574   3/23/2012     EUR    70.66
VONTOBEL FIN PRO         10.582   3/23/2012     EUR    70.44
VONTOBEL FIN PRO         10.641   3/23/2012     EUR    51.66
VONTOBEL FIN PRO         10.686   3/23/2012     EUR    47.66
VONTOBEL FIN PRO         10.686   3/23/2012     EUR    62.54
VONTOBEL FIN PRO         10.693   3/23/2012     EUR    64.96
VONTOBEL FIN PRO         10.733   3/23/2012     EUR    70.92
VONTOBEL FIN PRO         10.753   3/23/2012     EUR    64.10
VONTOBEL FIN PRO         10.781   3/23/2012     EUR    54.62
VONTOBEL FIN PRO         10.787   3/23/2012     EUR    67.58
VONTOBEL FIN PRO         10.800   3/23/2012     EUR    42.16
VONTOBEL FIN PRO         10.812   3/23/2012     EUR    60.42
VONTOBEL FIN PRO         10.812   3/23/2012     EUR    70.84
VONTOBEL FIN PRO         10.861   3/23/2012     EUR    53.64
VONTOBEL FIN PRO         10.879   3/23/2012     EUR    65.96
VONTOBEL FIN PRO         10.985   3/23/2012     EUR    55.72
VONTOBEL FIN PRO         11.038   3/23/2012     EUR    52.06
VONTOBEL FIN PRO         11.071   3/23/2012     EUR    61.28
VONTOBEL FIN PRO         11.080   3/23/2012     EUR    47.18
VONTOBEL FIN PRO         11.084   3/23/2012     EUR    62.22
VONTOBEL FIN PRO         11.099   3/23/2012     EUR    67.20
VONTOBEL FIN PRO         11.115   3/23/2012     EUR    68.80
VONTOBEL FIN PRO         11.115   3/23/2012     EUR    74.20
VONTOBEL FIN PRO         11.238   3/23/2012     EUR    34.46
VONTOBEL FIN PRO         11.244   3/23/2012     EUR    60.10
VONTOBEL FIN PRO         11.256   3/23/2012     EUR    66.22
VONTOBEL FIN PRO         11.269   3/23/2012     EUR    74.04
VONTOBEL FIN PRO         11.298   3/23/2012     EUR    70.10
VONTOBEL FIN PRO         11.310   3/23/2012     EUR    70.20
VONTOBEL FIN PRO         11.368   3/23/2012     EUR    68.22
VONTOBEL FIN PRO         11.387   3/23/2012     EUR    67.80
VONTOBEL FIN PRO         11.434   3/23/2012     EUR    63.66
VONTOBEL FIN PRO         11.437   3/23/2012     EUR    50.56
VONTOBEL FIN PRO         11.455   3/23/2012     EUR    50.56
VONTOBEL FIN PRO         11.464   3/23/2012     EUR    43.64
VONTOBEL FIN PRO         11.489   3/23/2012     EUR    68.52
VONTOBEL FIN PRO         11.508   3/23/2012     EUR    73.56
VONTOBEL FIN PRO         11.518   3/23/2012     EUR    73.98
VONTOBEL FIN PRO         11.594   3/23/2012     EUR    60.94
VONTOBEL FIN PRO         11.599   3/23/2012     EUR    66.48
VONTOBEL FIN PRO         11.639   3/23/2012     EUR    63.66
VONTOBEL FIN PRO         11.674   3/23/2012     EUR    47.80
VONTOBEL FIN PRO         11.732   3/23/2012     EUR    68.54
VONTOBEL FIN PRO         11.750   3/23/2012     EUR    66.40
VONTOBEL FIN PRO         11.774   3/23/2012     EUR    59.12
VONTOBEL FIN PRO         11.777   3/23/2012     EUR    51.68
VONTOBEL FIN PRO         11.825   3/23/2012     EUR    71.72
VONTOBEL FIN PRO         11.846   3/23/2012     EUR    59.70
VONTOBEL FIN PRO         11.863   3/23/2012     EUR    34.50
VONTOBEL FIN PRO         11.865   3/23/2012     EUR    61.44
VONTOBEL FIN PRO         11.869   3/23/2012     EUR    51.30
VONTOBEL FIN PRO         11.904   3/23/2012     EUR    49.08
VONTOBEL FIN PRO         11.910   3/23/2012     EUR    73.86
VONTOBEL FIN PRO         11.910   3/23/2012     EUR    70.94
VONTOBEL FIN PRO         11.986   3/23/2012     EUR    58.58
VONTOBEL FIN PRO         12.000   3/23/2012     EUR    73.12
VONTOBEL FIN PRO         12.045   3/23/2012     EUR    66.10
VONTOBEL FIN PRO         12.045   3/23/2012     EUR    65.60
VONTOBEL FIN PRO         12.045   3/23/2012     EUR    48.14
VONTOBEL FIN PRO         12.083   3/23/2012     EUR    59.18
VONTOBEL FIN PRO         12.134   3/23/2012     EUR    70.92
VONTOBEL FIN PRO         12.135   3/23/2012     EUR    53.10
VONTOBEL FIN PRO         12.146   3/23/2012     EUR    51.74
VONTOBEL FIN PRO         12.168   3/23/2012     EUR    69.30
VONTOBEL FIN PRO         12.197   3/23/2012     EUR    51.50
VONTOBEL FIN PRO         12.332   3/23/2012     EUR    42.20
VONTOBEL FIN PRO         12.335   3/23/2012     EUR    53.10
VONTOBEL FIN PRO         12.589   3/23/2012     EUR    57.90
VONTOBEL FIN PRO         12.605   3/23/2012     EUR    70.50
VONTOBEL FIN PRO         12.632   3/23/2012     EUR    64.12
VONTOBEL FIN PRO         12.680   3/23/2012     EUR    59.00
VONTOBEL FIN PRO         12.701   3/23/2012     EUR    56.42
VONTOBEL FIN PRO         12.745   3/23/2012     EUR    72.42
VONTOBEL FIN PRO         12.761   3/23/2012     EUR    42.34
VONTOBEL FIN PRO         12.765   3/23/2012     EUR    72.22
VONTOBEL FIN PRO         12.779   3/23/2012     EUR    70.92
VONTOBEL FIN PRO         12.782   3/23/2012     EUR    41.12
VONTOBEL FIN PRO         12.812   3/23/2012     EUR    71.64
VONTOBEL FIN PRO         12.818   3/23/2012     EUR    49.16
VONTOBEL FIN PRO         12.824   3/23/2012     EUR    70.14
VONTOBEL FIN PRO         12.947   3/23/2012     EUR    51.32
VONTOBEL FIN PRO         12.964   3/23/2012     EUR    44.32
VONTOBEL FIN PRO         12.973   3/23/2012     EUR    64.62
VONTOBEL FIN PRO         13.007   3/23/2012     EUR    51.30
VONTOBEL FIN PRO         13.124   3/23/2012     EUR    60.62
VONTOBEL FIN PRO         13.188   3/23/2012     EUR    61.76
VONTOBEL FIN PRO         13.275   3/23/2012     EUR    48.54
VONTOBEL FIN PRO         13.314   3/23/2012     EUR    49.88
VONTOBEL FIN PRO         13.314   3/23/2012     EUR    43.52
VONTOBEL FIN PRO         13.358   3/23/2012     EUR    43.88
VONTOBEL FIN PRO         13.366   3/23/2012     EUR    45.46
VONTOBEL FIN PRO         13.426   3/23/2012     EUR    65.88
VONTOBEL FIN PRO         13.426   3/23/2012     EUR    59.14
VONTOBEL FIN PRO         13.457   3/23/2012     EUR    51.34
VONTOBEL FIN PRO         13.534   3/23/2012     EUR    45.70
VONTOBEL FIN PRO         13.579   3/23/2012     EUR    70.96
VONTOBEL FIN PRO         13.612   3/23/2012     EUR    70.50
VONTOBEL FIN PRO         13.620   3/23/2012     EUR    68.66
VONTOBEL FIN PRO         13.648   3/23/2012     EUR    59.76
VONTOBEL FIN PRO         13.669   3/23/2012     EUR    58.54
VONTOBEL FIN PRO         13.714   3/23/2012     EUR    47.26
VONTOBEL FIN PRO         13.719   3/23/2012     EUR    58.32
VONTOBEL FIN PRO         13.733   3/23/2012     EUR    71.78
VONTOBEL FIN PRO         13.735   3/23/2012     EUR    48.42
VONTOBEL FIN PRO         13.737   3/23/2012     EUR    68.26
VONTOBEL FIN PRO         13.774   3/23/2012     EUR    71.02
VONTOBEL FIN PRO         13.790   3/23/2012     EUR    54.86
VONTOBEL FIN PRO         13.802   3/23/2012     EUR    47.24
VONTOBEL FIN PRO         13.869   3/23/2012     EUR    63.16
VONTOBEL FIN PRO         13.909   3/23/2012     EUR    57.42
VONTOBEL FIN PRO         13.911   3/23/2012     EUR    74.24
VONTOBEL FIN PRO         14.016   3/23/2012     EUR    46.60
VONTOBEL FIN PRO         14.132   3/23/2012     EUR    71.66
VONTOBEL FIN PRO         14.170   3/23/2012     EUR    59.42
VONTOBEL FIN PRO         14.208   3/23/2012     EUR    51.34
VONTOBEL FIN PRO         14.211   3/23/2012     EUR    63.18
VONTOBEL FIN PRO         14.228   3/23/2012     EUR    56.64
VONTOBEL FIN PRO         14.346   3/23/2012     EUR    39.94
VONTOBEL FIN PRO         14.391   3/23/2012     EUR    49.30
VONTOBEL FIN PRO         14.391   3/23/2012     EUR    72.64
VONTOBEL FIN PRO         14.400   3/23/2012     EUR    63.46
VONTOBEL FIN PRO         14.420   3/23/2012     EUR    71.04
VONTOBEL FIN PRO         14.614   3/23/2012     EUR    69.14
VONTOBEL FIN PRO         14.625   3/23/2012     EUR    50.38
VONTOBEL FIN PRO         14.636   3/23/2012     EUR    48.56
VONTOBEL FIN PRO         14.669   3/23/2012     EUR    43.54
VONTOBEL FIN PRO         14.754   3/23/2012     EUR    53.68
VONTOBEL FIN PRO         14.805   3/23/2012     EUR    47.76
VONTOBEL FIN PRO         14.895   3/23/2012     EUR    58.78
VONTOBEL FIN PRO         14.978   3/23/2012     EUR    38.74
VONTOBEL FIN PRO         15.158   3/23/2012     EUR    32.78
VONTOBEL FIN PRO         15.203   3/23/2012     EUR    51.38
VONTOBEL FIN PRO         15.215   3/23/2012     EUR    52.58
VONTOBEL FIN PRO         15.303   3/23/2012     EUR    49.24
VONTOBEL FIN PRO         15.372   3/23/2012     EUR    41.46
VONTOBEL FIN PRO         15.421   3/23/2012     EUR    72.72
VONTOBEL FIN PRO         15.576   3/23/2012     EUR    31.16
VONTOBEL FIN PRO         15.614   3/23/2012     EUR    68.16
VONTOBEL FIN PRO         15.663   3/23/2012     EUR    70.56
VONTOBEL FIN PRO         15.682   3/23/2012     EUR    55.84
VONTOBEL FIN PRO         15.699   3/23/2012     EUR    36.62
VONTOBEL FIN PRO         15.723   3/23/2012     EUR    40.94
VONTOBEL FIN PRO         15.792   3/23/2012     EUR    72.50
VONTOBEL FIN PRO         16.015   3/23/2012     EUR    35.84
VONTOBEL FIN PRO         16.248   3/23/2012     EUR    65.14
VONTOBEL FIN PRO         16.263   3/23/2012     EUR    71.38
VONTOBEL FIN PRO         16.358   3/23/2012     EUR    57.16
VONTOBEL FIN PRO         16.404   3/23/2012     EUR    56.16
VONTOBEL FIN PRO         16.466   3/23/2012     EUR    43.86
VONTOBEL FIN PRO         16.667   3/23/2012     EUR    49.20
VONTOBEL FIN PRO         16.672   3/23/2012     EUR    70.54
VONTOBEL FIN PRO         16.683   3/23/2012     EUR    45.70
VONTOBEL FIN PRO         16.686   3/23/2012     EUR    67.82
VONTOBEL FIN PRO         16.800   3/23/2012     EUR    68.74
VONTOBEL FIN PRO         17.053   3/23/2012     EUR    67.06
VONTOBEL FIN PRO         17.300   3/23/2012     EUR    60.78
VONTOBEL FIN PRO         17.336   3/23/2012     EUR    74.60
VONTOBEL FIN PRO         17.587   3/23/2012     EUR    29.74
VONTOBEL FIN PRO         17.825   3/23/2012     EUR    38.94
VONTOBEL FIN PRO         17.902   3/23/2012     EUR    36.68
VONTOBEL FIN PRO         17.921   3/23/2012     EUR    67.30
VONTOBEL FIN PRO         18.045   3/23/2012     EUR    34.64
VONTOBEL FIN PRO         18.131   3/23/2012     EUR    38.50
VONTOBEL FIN PRO         18.316   3/23/2012     EUR    68.18
VONTOBEL FIN PRO         19.591   3/23/2012     EUR    64.80
VONTOBEL FIN PRO         19.599   3/23/2012     EUR    28.46
VONTOBEL FIN PRO         19.805   3/23/2012     EUR    36.34
VONTOBEL FIN PRO         20.386   3/23/2012     EUR    27.26
VONTOBEL FIN PRO         21.110   3/23/2012     EUR    61.64
VONTOBEL FIN PRO         25.577   3/23/2012     EUR    56.64
VONTOBEL FIN PRO         10.028   3/30/2012     EUR    38.70
VONTOBEL FIN PRO         10.740    4/5/2012     EUR    68.80
VONTOBEL FIN PRO         11.546    4/5/2012     EUR    75.10
VONTOBEL FIN PRO         16.639    4/5/2012     EUR    20.16
VONTOBEL FIN PRO         10.307   4/13/2012     EUR    73.50
VONTOBEL FIN PRO         12.469   4/13/2012     EUR    51.30
VONTOBEL FIN PRO         10.028   4/20/2012     EUR    54.00
VONTOBEL FIN PRO         11.031   4/20/2012     EUR    68.60
VONTOBEL FIN PRO         10.659   4/27/2012     EUR    71.10
VONTOBEL FIN PRO         12.067    5/4/2012     EUR    69.10
VONTOBEL FIN PRO         13.173    5/4/2012     EUR    58.50
VONTOBEL FIN PRO         10.056   5/11/2012     EUR    68.10
VONTOBEL FIN PRO         10.961   5/18/2012     EUR    62.50
VONTOBEL FIN PRO         12.168   5/18/2012     EUR    47.20
VONTOBEL FIN PRO         11.564   5/25/2012     EUR    59.50
VONTOBEL FIN PRO         10.358    6/1/2012     EUR    74.10
VONTOBEL FIN PRO         12.369    6/1/2012     EUR    47.50
VONTOBEL FIN PRO          7.889    6/6/2012     EUR    62.20
VONTOBEL FIN PRO         10.358   6/15/2012     EUR    61.40
VONTOBEL FIN PRO         10.458   6/15/2012     EUR    59.10
VONTOBEL FIN PRO          6.697   6/22/2012     EUR    72.48
VONTOBEL FIN PRO          6.876   6/22/2012     EUR    57.86
VONTOBEL FIN PRO          7.094   6/22/2012     EUR    66.80
VONTOBEL FIN PRO          7.101   6/22/2012     EUR    52.72
VONTOBEL FIN PRO          7.150   6/22/2012     EUR    66.60
VONTOBEL FIN PRO          7.228   6/22/2012     EUR    71.74
VONTOBEL FIN PRO          7.236   6/22/2012     EUR    63.66
VONTOBEL FIN PRO          7.299   6/22/2012     EUR    74.46
VONTOBEL FIN PRO          7.488   6/22/2012     EUR    71.82
VONTOBEL FIN PRO          7.500   6/22/2012     EUR    57.54
VONTOBEL FIN PRO          7.509   6/22/2012     EUR    58.60
VONTOBEL FIN PRO          7.562   6/22/2012     EUR    68.88
VONTOBEL FIN PRO          7.754   6/22/2012     EUR    62.44
VONTOBEL FIN PRO          7.812   6/22/2012     EUR    75.34
VONTOBEL FIN PRO          7.942   6/22/2012     EUR    70.74
VONTOBEL FIN PRO          7.956   6/22/2012     EUR    72.44
VONTOBEL FIN PRO          7.974   6/22/2012     EUR    61.20
VONTOBEL FIN PRO          7.974   6/22/2012     EUR    43.76
VONTOBEL FIN PRO          7.996   6/22/2012     EUR    66.46
VONTOBEL FIN PRO          8.008   6/22/2012     EUR    70.82
VONTOBEL FIN PRO          8.014   6/22/2012     EUR    68.88
VONTOBEL FIN PRO          8.015   6/22/2012     EUR    55.76
VONTOBEL FIN PRO          8.031   6/22/2012     EUR    68.88
VONTOBEL FIN PRO          8.068   6/22/2012     EUR    67.08
VONTOBEL FIN PRO          8.113   6/22/2012     EUR    71.60
VONTOBEL FIN PRO          8.135   6/22/2012     EUR    73.80
VONTOBEL FIN PRO          8.152   6/22/2012     EUR    69.62
VONTOBEL FIN PRO          8.185   6/22/2012     EUR    56.50
VONTOBEL FIN PRO          8.189   6/22/2012     EUR    51.00
VONTOBEL FIN PRO          8.267   6/22/2012     EUR    73.68
VONTOBEL FIN PRO          8.278   6/22/2012     EUR    73.06
VONTOBEL FIN PRO          8.284   6/22/2012     EUR    51.64
VONTOBEL FIN PRO          8.302   6/22/2012     EUR    66.40
VONTOBEL FIN PRO          8.327   6/22/2012     EUR    71.40
VONTOBEL FIN PRO          8.340   6/22/2012     EUR    67.48
VONTOBEL FIN PRO          8.340   6/22/2012     EUR    29.96
VONTOBEL FIN PRO          8.347   6/22/2012     EUR    61.66
VONTOBEL FIN PRO          8.377   6/22/2012     EUR    48.52
VONTOBEL FIN PRO          8.407   6/22/2012     EUR    58.72
VONTOBEL FIN PRO          8.460   6/22/2012     EUR    53.74
VONTOBEL FIN PRO          8.466   6/22/2012     EUR    41.30
VONTOBEL FIN PRO          8.466   6/22/2012     EUR    66.74
VONTOBEL FIN PRO          8.487   6/22/2012     EUR    66.48
VONTOBEL FIN PRO          8.491   6/22/2012     EUR    59.58
VONTOBEL FIN PRO          8.491   6/22/2012     EUR    59.32
VONTOBEL FIN PRO          8.525   6/22/2012     EUR    72.80
VONTOBEL FIN PRO          8.528   6/22/2012     EUR    66.84
VONTOBEL FIN PRO          8.566   6/22/2012     EUR    65.32
VONTOBEL FIN PRO          8.640   6/22/2012     EUR    45.12
VONTOBEL FIN PRO          8.642   6/22/2012     EUR    66.97
VONTOBEL FIN PRO          8.679   6/22/2012     EUR    67.72
VONTOBEL FIN PRO          8.681   6/22/2012     EUR    66.52
VONTOBEL FIN PRO          8.690   6/22/2012     EUR    64.04
VONTOBEL FIN PRO          8.701   6/22/2012     EUR    48.40
VONTOBEL FIN PRO          8.747   6/22/2012     EUR    75.24
VONTOBEL FIN PRO          8.753   6/22/2012     EUR    68.44
VONTOBEL FIN PRO          8.755   6/22/2012     EUR    65.76
VONTOBEL FIN PRO          8.755   6/22/2012     EUR    52.10
VONTOBEL FIN PRO          8.755   6/22/2012     EUR    64.62
VONTOBEL FIN PRO          8.757   6/22/2012     EUR    70.85
VONTOBEL FIN PRO          8.793   6/22/2012     EUR    68.50
VONTOBEL FIN PRO          8.795   6/22/2012     EUR    58.12
VONTOBEL FIN PRO          8.795   6/22/2012     EUR    69.26
VONTOBEL FIN PRO          8.806   6/22/2012     EUR    67.86
VONTOBEL FIN PRO          8.806   6/22/2012     EUR    66.98
VONTOBEL FIN PRO          8.830   6/22/2012     EUR    71.78
VONTOBEL FIN PRO          8.835   6/22/2012     EUR    65.24
VONTOBEL FIN PRO          8.872   6/22/2012     EUR    74.50
VONTOBEL FIN PRO          8.875   6/22/2012     EUR    69.78
VONTOBEL FIN PRO          8.889   6/22/2012     EUR    65.14
VONTOBEL FIN PRO          8.892   6/22/2012     EUR    68.52
VONTOBEL FIN PRO          8.900   6/22/2012     EUR    64.14
VONTOBEL FIN PRO          8.906   6/22/2012     EUR    62.00
VONTOBEL FIN PRO          9.019   6/22/2012     EUR    50.58
VONTOBEL FIN PRO          9.026   6/22/2012     EUR    63.96
VONTOBEL FIN PRO          9.071   6/22/2012     EUR    66.74
VONTOBEL FIN PRO          9.072   6/22/2012     EUR    58.32
VONTOBEL FIN PRO          9.142   6/22/2012     EUR    70.70
VONTOBEL FIN PRO          9.162   6/22/2012     EUR    69.46
VONTOBEL FIN PRO          9.180   6/22/2012     EUR    72.12
VONTOBEL FIN PRO          9.208   6/22/2012     EUR    52.76
VONTOBEL FIN PRO          9.250   6/22/2012     EUR    72.80
VONTOBEL FIN PRO          9.274   6/22/2012     EUR    70.42
VONTOBEL FIN PRO          9.283   6/22/2012     EUR    59.02
VONTOBEL FIN PRO          9.292   6/22/2012     EUR    56.80
VONTOBEL FIN PRO          9.316   6/22/2012     EUR    64.18
VONTOBEL FIN PRO          9.332   6/22/2012     EUR    64.56
VONTOBEL FIN PRO          9.373   6/22/2012     EUR    61.55
VONTOBEL FIN PRO          9.389   6/22/2012     EUR    50.44
VONTOBEL FIN PRO          9.414   6/22/2012     EUR    66.26
VONTOBEL FIN PRO          9.454   6/22/2012     EUR    42.56
VONTOBEL FIN PRO          9.461   6/22/2012     EUR    72.26
VONTOBEL FIN PRO          9.466   6/22/2012     EUR    67.66
VONTOBEL FIN PRO          9.472   6/22/2012     EUR    66.22
VONTOBEL FIN PRO          9.472   6/22/2012     EUR    39.35
VONTOBEL FIN PRO          9.511   6/22/2012     EUR    62.84
VONTOBEL FIN PRO          9.534   6/22/2012     EUR    68.66
VONTOBEL FIN PRO          9.553   6/22/2012     EUR    66.92
VONTOBEL FIN PRO          9.556   6/22/2012     EUR    39.46
VONTOBEL FIN PRO          9.557   6/22/2012     EUR    69.26
VONTOBEL FIN PRO          9.576   6/22/2012     EUR    64.80
VONTOBEL FIN PRO          9.606   6/22/2012     EUR    66.78
VONTOBEL FIN PRO          9.623   6/22/2012     EUR    51.38
VONTOBEL FIN PRO          9.623   6/22/2012     EUR    41.56
VONTOBEL FIN PRO          9.627   6/22/2012     EUR    74.20
VONTOBEL FIN PRO          9.673   6/22/2012     EUR    62.12
VONTOBEL FIN PRO          9.689   6/22/2012     EUR    71.92
VONTOBEL FIN PRO          9.689   6/22/2012     EUR    73.58
VONTOBEL FIN PRO          9.698   6/22/2012     EUR    66.80
VONTOBEL FIN PRO          9.699   6/22/2012     EUR    67.06
VONTOBEL FIN PRO          9.709   6/22/2012     EUR    53.84
VONTOBEL FIN PRO          9.709   6/22/2012     EUR    55.06
VONTOBEL FIN PRO          9.724   6/22/2012     EUR    61.28
VONTOBEL FIN PRO          9.732   6/22/2012     EUR    73.30
VONTOBEL FIN PRO          9.781   6/22/2012     EUR    58.38
VONTOBEL FIN PRO          9.797   6/22/2012     EUR    58.54
VONTOBEL FIN PRO          9.832   6/22/2012     EUR    71.52
VONTOBEL FIN PRO          9.887   6/22/2012     EUR    67.84
VONTOBEL FIN PRO          9.918   6/22/2012     EUR    65.20
VONTOBEL FIN PRO          9.921   6/22/2012     EUR    67.08
VONTOBEL FIN PRO          9.957   6/22/2012     EUR    63.12
VONTOBEL FIN PRO          9.969   6/22/2012     EUR    55.44
VONTOBEL FIN PRO          9.991   6/22/2012     EUR    68.82
VONTOBEL FIN PRO         10.026   6/22/2012     EUR    71.86
VONTOBEL FIN PRO         10.028   6/22/2012     EUR    69.50
VONTOBEL FIN PRO         10.028   6/22/2012     EUR    67.30
VONTOBEL FIN PRO         10.038   6/22/2012     EUR    62.32
VONTOBEL FIN PRO         10.100   6/22/2012     EUR    64.54
VONTOBEL FIN PRO         10.110   6/22/2012     EUR    43.68
VONTOBEL FIN PRO         10.116   6/22/2012     EUR    51.82
VONTOBEL FIN PRO         10.142   6/22/2012     EUR    68.56
VONTOBEL FIN PRO         10.167   6/22/2012     EUR    58.16
VONTOBEL FIN PRO         10.186   6/22/2012     EUR    70.98
VONTOBEL FIN PRO         10.207   6/22/2012     EUR    70.56
VONTOBEL FIN PRO         10.222   6/22/2012     EUR    73.74
VONTOBEL FIN PRO         10.254   6/22/2012     EUR    69.56
VONTOBEL FIN PRO         10.257   6/22/2012     EUR    61.80
VONTOBEL FIN PRO         10.260   6/22/2012     EUR    50.24
VONTOBEL FIN PRO         10.264   6/22/2012     EUR    67.41
VONTOBEL FIN PRO         10.273   6/22/2012     EUR    63.34
VONTOBEL FIN PRO         10.278   6/22/2012     EUR    49.60
VONTOBEL FIN PRO         10.286   6/22/2012     EUR    69.88
VONTOBEL FIN PRO         10.325   6/22/2012     EUR    73.56
VONTOBEL FIN PRO         10.402   6/22/2012     EUR    63.38
VONTOBEL FIN PRO         10.438   6/22/2012     EUR    69.54
VONTOBEL FIN PRO         10.439   6/22/2012     EUR    52.16
VONTOBEL FIN PRO         10.440   6/22/2012     EUR    68.16
VONTOBEL FIN PRO         10.476   6/22/2012     EUR    42.32
VONTOBEL FIN PRO         10.486   6/22/2012     EUR    41.58
VONTOBEL FIN PRO         10.490   6/22/2012     EUR    48.76
VONTOBEL FIN PRO         10.500   6/22/2012     EUR    57.94
VONTOBEL FIN PRO         10.520   6/22/2012     EUR    54.22
VONTOBEL FIN PRO         10.528   6/22/2012     EUR    74.81
VONTOBEL FIN PRO         10.548   6/22/2012     EUR    65.06
VONTOBEL FIN PRO         10.567   6/22/2012     EUR    52.02
VONTOBEL FIN PRO         10.577   6/22/2012     EUR    73.38
VONTOBEL FIN PRO         10.607   6/22/2012     EUR    69.42
VONTOBEL FIN PRO         10.612   6/22/2012     EUR    72.58
VONTOBEL FIN PRO         10.620   6/22/2012     EUR    66.54
VONTOBEL FIN PRO         10.642   6/22/2012     EUR    70.53
VONTOBEL FIN PRO         10.660   6/22/2012     EUR    45.62
VONTOBEL FIN PRO         10.668   6/22/2012     EUR    71.54
VONTOBEL FIN PRO         10.668   6/22/2012     EUR    68.36
VONTOBEL FIN PRO         10.724   6/22/2012     EUR    60.58
VONTOBEL FIN PRO         10.726   6/22/2012     EUR    64.16
VONTOBEL FIN PRO         10.757   6/22/2012     EUR    67.60
VONTOBEL FIN PRO         10.757   6/22/2012     EUR    70.76
VONTOBEL FIN PRO         10.779   6/22/2012     EUR    74.52
VONTOBEL FIN PRO         10.781   6/22/2012     EUR    74.40
VONTOBEL FIN PRO         10.791   6/22/2012     EUR    70.88
VONTOBEL FIN PRO         10.800   6/22/2012     EUR    41.70
VONTOBEL FIN PRO         10.833   6/22/2012     EUR    49.06
VONTOBEL FIN PRO         10.843   6/22/2012     EUR    65.02
VONTOBEL FIN PRO         10.847   6/22/2012     EUR    68.84
VONTOBEL FIN PRO         10.878   6/22/2012     EUR    61.96
VONTOBEL FIN PRO         10.909   6/22/2012     EUR    40.36
VONTOBEL FIN PRO         10.920   6/22/2012     EUR    44.80
VONTOBEL FIN PRO         10.925   6/22/2012     EUR    70.86
VONTOBEL FIN PRO         10.925   6/22/2012     EUR    60.74
VONTOBEL FIN PRO         10.955   6/22/2012     EUR    69.46
VONTOBEL FIN PRO         11.019   6/22/2012     EUR    60.52
VONTOBEL FIN PRO         11.029   6/22/2012     EUR    61.92
VONTOBEL FIN PRO         11.052   6/22/2012     EUR    53.96
VONTOBEL FIN PRO         11.080   6/22/2012     EUR    74.64
VONTOBEL FIN PRO         11.080   6/22/2012     EUR    73.28
VONTOBEL FIN PRO         11.098   6/22/2012     EUR    69.50
VONTOBEL FIN PRO         11.103   6/22/2012     EUR    73.42
VONTOBEL FIN PRO         11.117   6/22/2012     EUR    72.80
VONTOBEL FIN PRO         11.138   6/22/2012     EUR    74.50
VONTOBEL FIN PRO         11.219   6/22/2012     EUR    67.72
VONTOBEL FIN PRO         11.238   6/22/2012     EUR    66.40
VONTOBEL FIN PRO         11.283   6/22/2012     EUR    53.28
VONTOBEL FIN PRO         11.296   6/22/2012     EUR    65.26
VONTOBEL FIN PRO         11.304   6/22/2012     EUR    68.22
VONTOBEL FIN PRO         11.319   6/22/2012     EUR    59.08
VONTOBEL FIN PRO         11.328   6/22/2012     EUR    73.58
VONTOBEL FIN PRO         11.361   6/22/2012     EUR    61.84
VONTOBEL FIN PRO         11.377   6/22/2012     EUR    53.90
VONTOBEL FIN PRO         11.396   6/22/2012     EUR    67.33
VONTOBEL FIN PRO         11.405   6/22/2012     EUR    72.88
VONTOBEL FIN PRO         11.409   6/22/2012     EUR    68.76
VONTOBEL FIN PRO         11.422   6/22/2012     EUR    48.16
VONTOBEL FIN PRO         11.425   6/22/2012     EUR    59.96
VONTOBEL FIN PRO         11.425   6/22/2012     EUR    67.14
VONTOBEL FIN PRO         11.443   6/22/2012     EUR    69.56
VONTOBEL FIN PRO         11.455   6/22/2012     EUR    61.92
VONTOBEL FIN PRO         11.534   6/22/2012     EUR    53.38
VONTOBEL FIN PRO         11.560   6/22/2012     EUR    40.70
VONTOBEL FIN PRO         11.566   6/22/2012     EUR    59.02
VONTOBEL FIN PRO         11.581   6/22/2012     EUR    60.24
VONTOBEL FIN PRO         11.582   6/22/2012     EUR    74.18
VONTOBEL FIN PRO         11.586   6/22/2012     EUR    71.59
VONTOBEL FIN PRO         11.591   6/22/2012     EUR    72.70
VONTOBEL FIN PRO         11.600   6/22/2012     EUR    60.64
VONTOBEL FIN PRO         11.614   6/22/2012     EUR    59.70
VONTOBEL FIN PRO         11.693   6/22/2012     EUR    61.46
VONTOBEL FIN PRO         11.705   6/22/2012     EUR    62.15
VONTOBEL FIN PRO         11.736   6/22/2012     EUR    52.22
VONTOBEL FIN PRO         11.750   6/22/2012     EUR    65.28
VONTOBEL FIN PRO         11.774   6/22/2012     EUR    42.14
VONTOBEL FIN PRO         11.778   6/22/2012     EUR    48.30
VONTOBEL FIN PRO         11.807   6/22/2012     EUR    72.14
VONTOBEL FIN PRO         11.807   6/22/2012     EUR    62.90
VONTOBEL FIN PRO         11.808   6/22/2012     EUR    73.96
VONTOBEL FIN PRO         11.811   6/22/2012     EUR    60.30
VONTOBEL FIN PRO         11.819   6/22/2012     EUR    68.54
VONTOBEL FIN PRO         11.844   6/22/2012     EUR    59.22
VONTOBEL FIN PRO         11.910   6/22/2012     EUR    50.44
VONTOBEL FIN PRO         11.944   6/22/2012     EUR    71.04
VONTOBEL FIN PRO         11.952   6/22/2012     EUR    48.44
VONTOBEL FIN PRO         11.955   6/22/2012     EUR    39.72
VONTOBEL FIN PRO         11.967   6/22/2012     EUR    62.52
VONTOBEL FIN PRO         11.983   6/22/2012     EUR    73.36
VONTOBEL FIN PRO         12.000   6/22/2012     EUR    62.16
VONTOBEL FIN PRO         12.013   6/22/2012     EUR    54.24
VONTOBEL FIN PRO         12.017   6/22/2012     EUR    54.30
VONTOBEL FIN PRO         12.103   6/22/2012     EUR    64.49
VONTOBEL FIN PRO         12.117   6/22/2012     EUR    50.74
VONTOBEL FIN PRO         12.123   6/22/2012     EUR    60.76
VONTOBEL FIN PRO         12.144   6/22/2012     EUR    65.30
VONTOBEL FIN PRO         12.168   6/22/2012     EUR    62.02
VONTOBEL FIN PRO         12.204   6/22/2012     EUR    47.56
VONTOBEL FIN PRO         12.216   6/22/2012     EUR    71.22
VONTOBEL FIN PRO         12.226   6/22/2012     EUR    30.96
VONTOBEL FIN PRO         12.247   6/22/2012     EUR    60.70
VONTOBEL FIN PRO         12.260   6/22/2012     EUR    63.94
VONTOBEL FIN PRO         12.276   6/22/2012     EUR    69.88
VONTOBEL FIN PRO         12.298   6/22/2012     EUR    60.46
VONTOBEL FIN PRO         12.313   6/22/2012     EUR    75.42
VONTOBEL FIN PRO         12.323   6/22/2012     EUR    52.26
VONTOBEL FIN PRO         12.340   6/22/2012     EUR    53.60
VONTOBEL FIN PRO         12.343   6/22/2012     EUR    44.68
VONTOBEL FIN PRO         12.348   6/22/2012     EUR    74.06
VONTOBEL FIN PRO         12.352   6/22/2012     EUR    68.24
VONTOBEL FIN PRO         12.382   6/22/2012     EUR    65.54
VONTOBEL FIN PRO         12.389   6/22/2012     EUR    47.84
VONTOBEL FIN PRO         12.393   6/22/2012     EUR    64.84
VONTOBEL FIN PRO         12.420   6/22/2012     EUR    40.02
VONTOBEL FIN PRO         12.451   6/22/2012     EUR    47.54
VONTOBEL FIN PRO         12.456   6/22/2012     EUR    69.70
VONTOBEL FIN PRO         12.462   6/22/2012     EUR    67.66
VONTOBEL FIN PRO         12.512   6/22/2012     EUR    46.98
VONTOBEL FIN PRO         12.520   6/22/2012     EUR    61.23
VONTOBEL FIN PRO         12.536   6/22/2012     EUR    73.72
VONTOBEL FIN PRO         12.537   6/22/2012     EUR    60.40
VONTOBEL FIN PRO         12.544   6/22/2012     EUR    47.18
VONTOBEL FIN PRO         12.547   6/22/2012     EUR    67.68
VONTOBEL FIN PRO         12.578   6/22/2012     EUR    72.44
VONTOBEL FIN PRO         12.578   6/22/2012     EUR    50.30
VONTOBEL FIN PRO         12.595   6/22/2012     EUR    66.88
VONTOBEL FIN PRO         12.600   6/22/2012     EUR    73.74
VONTOBEL FIN PRO         12.623   6/22/2012     EUR    51.38
VONTOBEL FIN PRO         12.627   6/22/2012     EUR    54.52
VONTOBEL FIN PRO         12.652   6/22/2012     EUR    65.06
VONTOBEL FIN PRO         12.672   6/22/2012     EUR    54.38
VONTOBEL FIN PRO         12.679   6/22/2012     EUR    70.83
VONTOBEL FIN PRO         12.685   6/22/2012     EUR    59.08
VONTOBEL FIN PRO         12.689   6/22/2012     EUR    60.14
VONTOBEL FIN PRO         12.716   6/22/2012     EUR    51.00
VONTOBEL FIN PRO         12.799   6/22/2012     EUR    63.28
VONTOBEL FIN PRO         12.830   6/22/2012     EUR    52.52
VONTOBEL FIN PRO         12.870   6/22/2012     EUR    69.54
VONTOBEL FIN PRO         12.878   6/22/2012     EUR    71.16
VONTOBEL FIN PRO         12.880   6/22/2012     EUR    73.04
VONTOBEL FIN PRO         13.000   6/22/2012     EUR    37.94
VONTOBEL FIN PRO         13.032   6/22/2012     EUR    46.66
VONTOBEL FIN PRO         13.084   6/22/2012     EUR    62.50
VONTOBEL FIN PRO         13.111   6/22/2012     EUR    63.12
VONTOBEL FIN PRO         13.150   6/22/2012     EUR    68.24
VONTOBEL FIN PRO         13.150   6/22/2012     EUR    57.56
VONTOBEL FIN PRO         13.208   6/22/2012     EUR    42.74
VONTOBEL FIN PRO         13.224   6/22/2012     EUR    72.52
VONTOBEL FIN PRO         13.253   6/22/2012     EUR    56.90
VONTOBEL FIN PRO         13.283   6/22/2012     EUR    60.70
VONTOBEL FIN PRO         13.288   6/22/2012     EUR    56.52
VONTOBEL FIN PRO         13.293   6/22/2012     EUR    57.06
VONTOBEL FIN PRO         13.343   6/22/2012     EUR    49.00
VONTOBEL FIN PRO         13.355   6/22/2012     EUR    64.72
VONTOBEL FIN PRO         13.463   6/22/2012     EUR    46.80
VONTOBEL FIN PRO         13.500   6/22/2012     EUR    49.52
VONTOBEL FIN PRO         13.514   6/22/2012     EUR    71.86
VONTOBEL FIN PRO         13.521   6/22/2012     EUR    58.12
VONTOBEL FIN PRO         13.522   6/22/2012     EUR    70.10
VONTOBEL FIN PRO         13.536   6/22/2012     EUR    42.02
VONTOBEL FIN PRO         13.615   6/22/2012     EUR    59.06
VONTOBEL FIN PRO         13.627   6/22/2012     EUR    73.40
VONTOBEL FIN PRO         13.648   6/22/2012     EUR    62.94
VONTOBEL FIN PRO         13.700   6/22/2012     EUR    73.58
VONTOBEL FIN PRO         13.748   6/22/2012     EUR    71.46
VONTOBEL FIN PRO         13.748   6/22/2012     EUR    56.94
VONTOBEL FIN PRO         13.758   6/22/2012     EUR    43.26
VONTOBEL FIN PRO         13.792   6/22/2012     EUR    60.38
VONTOBEL FIN PRO         13.803   6/22/2012     EUR    57.90
VONTOBEL FIN PRO         13.812   6/22/2012     EUR    59.92
VONTOBEL FIN PRO         13.829   6/22/2012     EUR    45.84
VONTOBEL FIN PRO         13.832   6/22/2012     EUR    62.84
VONTOBEL FIN PRO         13.832   6/22/2012     EUR    52.72
VONTOBEL FIN PRO         13.846   6/22/2012     EUR    71.38
VONTOBEL FIN PRO         13.860   6/22/2012     EUR    45.84
VONTOBEL FIN PRO         13.886   6/22/2012     EUR    64.56
VONTOBEL FIN PRO         13.968   6/22/2012     EUR    74.54
VONTOBEL FIN PRO         13.980   6/22/2012     EUR    54.68
VONTOBEL FIN PRO         14.000   6/22/2012     EUR    42.96
VONTOBEL FIN PRO         14.000   6/22/2012     EUR    60.42
VONTOBEL FIN PRO         14.061   6/22/2012     EUR    63.46
VONTOBEL FIN PRO         14.160   6/22/2012     EUR    30.84
VONTOBEL FIN PRO         14.172   6/22/2012     EUR    54.10
VONTOBEL FIN PRO         14.201   6/22/2012     EUR    39.04
VONTOBEL FIN PRO         14.211   6/22/2012     EUR    74.38
VONTOBEL FIN PRO         14.229   6/22/2012     EUR    54.88
VONTOBEL FIN PRO         14.276   6/22/2012     EUR    74.56
VONTOBEL FIN PRO         14.278   6/22/2012     EUR    45.88
VONTOBEL FIN PRO         14.302   6/22/2012     EUR    31.60
VONTOBEL FIN PRO         14.345   6/22/2012     EUR    60.88
VONTOBEL FIN PRO         14.436   6/22/2012     EUR    38.12
VONTOBEL FIN PRO         14.450   6/22/2012     EUR    52.78
VONTOBEL FIN PRO         14.561   6/22/2012     EUR    74.12
VONTOBEL FIN PRO         14.580   6/22/2012     EUR    67.64
VONTOBEL FIN PRO         14.640   6/22/2012     EUR    72.62
VONTOBEL FIN PRO         14.652   6/22/2012     EUR    71.22
VONTOBEL FIN PRO         14.680   6/22/2012     EUR    60.94
VONTOBEL FIN PRO         14.712   6/22/2012     EUR    56.12
VONTOBEL FIN PRO         14.717   6/22/2012     EUR    47.30
VONTOBEL FIN PRO         14.791   6/22/2012     EUR    34.18
VONTOBEL FIN PRO         14.821   6/22/2012     EUR    48.98
VONTOBEL FIN PRO         15.091   6/22/2012     EUR    70.44
VONTOBEL FIN PRO         15.167   6/22/2012     EUR    60.18
VONTOBEL FIN PRO         15.308   6/22/2012     EUR    54.24
VONTOBEL FIN PRO         15.370   6/22/2012     EUR    42.38
VONTOBEL FIN PRO         15.448   6/22/2012     EUR    62.54
VONTOBEL FIN PRO         15.526   6/22/2012     EUR    70.74
VONTOBEL FIN PRO         15.840   6/22/2012     EUR    43.56
VONTOBEL FIN PRO         15.856   6/22/2012     EUR    74.00
VONTOBEL FIN PRO         15.920   6/22/2012     EUR    29.96
VONTOBEL FIN PRO         15.940   6/22/2012     EUR    47.52
VONTOBEL FIN PRO         15.950   6/22/2012     EUR    70.76
VONTOBEL FIN PRO         16.110   6/22/2012     EUR    28.78
VONTOBEL FIN PRO         16.150   6/22/2012     EUR    58.56
VONTOBEL FIN PRO         16.156   6/22/2012     EUR    67.18
VONTOBEL FIN PRO         16.293   6/22/2012     EUR    69.64
VONTOBEL FIN PRO         16.488   6/22/2012     EUR    36.52
VONTOBEL FIN PRO         16.497   6/22/2012     EUR    34.66
VONTOBEL FIN PRO         16.595   6/22/2012     EUR    74.34
VONTOBEL FIN PRO         16.667   6/22/2012     EUR    36.78
VONTOBEL FIN PRO         16.746   6/22/2012     EUR    33.02
VONTOBEL FIN PRO         16.864   6/22/2012     EUR    71.12
VONTOBEL FIN PRO         17.189   6/22/2012     EUR    60.46
VONTOBEL FIN PRO         17.260   6/22/2012     EUR    27.18
VONTOBEL FIN PRO         17.333   6/22/2012     EUR    57.66
VONTOBEL FIN PRO         17.712   6/22/2012     EUR    28.10
VONTOBEL FIN PRO         17.784   6/22/2012     EUR    41.62
VONTOBEL FIN PRO         18.036   6/22/2012     EUR    66.04
VONTOBEL FIN PRO         18.164   6/22/2012     EUR    27.60
VONTOBEL FIN PRO         18.289   6/22/2012     EUR    27.24
VONTOBEL FIN PRO         18.295   6/22/2012     EUR    39.58
VONTOBEL FIN PRO         21.456   6/22/2012     EUR    61.86
VONTOBEL FIN PRO         12.067   6/29/2012     EUR    70.20
VONTOBEL FIN PRO         12.067   6/29/2012     EUR    57.60
VONTOBEL FIN PRO         11.514    7/6/2012     EUR    56.90
VONTOBEL FIN PRO         11.061   7/13/2012     EUR    66.90
VONTOBEL FIN PRO         10.860   7/20/2012     EUR    62.90
VONTOBEL FIN PRO         11.564   7/27/2012     EUR    72.50
VONTOBEL FIN PRO         12.864   7/27/2012     EUR    71.20
VONTOBEL FIN PRO          7.432   9/28/2012     EUR    72.38
VONTOBEL FIN PRO          7.950   9/28/2012     EUR    71.50
VONTOBEL FIN PRO          8.121   9/28/2012     EUR    73.02
VONTOBEL FIN PRO          8.174   9/28/2012     EUR    70.66
VONTOBEL FIN PRO          8.440   9/28/2012     EUR    67.46
VONTOBEL FIN PRO          8.581   9/28/2012     EUR    66.12
VONTOBEL FIN PRO          8.626   9/28/2012     EUR    72.22
VONTOBEL FIN PRO          8.786   9/28/2012     EUR    71.80
VONTOBEL FIN PRO          8.862   9/28/2012     EUR    72.36
VONTOBEL FIN PRO          8.878   9/28/2012     EUR    70.42
VONTOBEL FIN PRO          9.037   9/28/2012     EUR    69.00
VONTOBEL FIN PRO          9.037   9/28/2012     EUR    74.92
VONTOBEL FIN PRO          9.112   9/28/2012     EUR    73.38
VONTOBEL FIN PRO          9.284   9/28/2012     EUR    69.64
VONTOBEL FIN PRO          9.400   9/28/2012     EUR    64.02
VONTOBEL FIN PRO          9.405   9/28/2012     EUR    61.34
VONTOBEL FIN PRO          9.492   9/28/2012     EUR    56.38
VONTOBEL FIN PRO          9.523   9/28/2012     EUR    47.58
VONTOBEL FIN PRO          9.634   9/28/2012     EUR    67.14
VONTOBEL FIN PRO          9.672   9/28/2012     EUR    65.36
VONTOBEL FIN PRO          9.860   9/28/2012     EUR    67.12
VONTOBEL FIN PRO          9.877   9/28/2012     EUR    63.80
VONTOBEL FIN PRO          9.950   9/28/2012     EUR    67.50
VONTOBEL FIN PRO         10.000   9/28/2012     EUR    60.26
VONTOBEL FIN PRO         10.014   9/28/2012     EUR    60.10
VONTOBEL FIN PRO         10.046   9/28/2012     EUR    52.86
VONTOBEL FIN PRO         10.046   9/28/2012     EUR    71.60
VONTOBEL FIN PRO         10.083   9/28/2012     EUR    70.58
VONTOBEL FIN PRO         10.083   9/28/2012     EUR    69.84
VONTOBEL FIN PRO         10.336   9/28/2012     EUR    64.00
VONTOBEL FIN PRO         10.366   9/28/2012     EUR    69.46
VONTOBEL FIN PRO         10.494   9/28/2012     EUR    46.62
VONTOBEL FIN PRO         10.556   9/28/2012     EUR    61.48
VONTOBEL FIN PRO         10.600   9/28/2012     EUR    74.26
VONTOBEL FIN PRO         10.830   9/28/2012     EUR    66.06
VONTOBEL FIN PRO         10.830   9/28/2012     EUR    64.28
VONTOBEL FIN PRO         10.850   9/28/2012     EUR    62.64
VONTOBEL FIN PRO         10.909   9/28/2012     EUR    73.44
VONTOBEL FIN PRO         11.017   9/28/2012     EUR    69.94
VONTOBEL FIN PRO         11.027   9/28/2012     EUR    69.94
VONTOBEL FIN PRO         11.077   9/28/2012     EUR    73.75
VONTOBEL FIN PRO         11.145   9/28/2012     EUR    62.74
VONTOBEL FIN PRO         11.175   9/28/2012     EUR    74.52
VONTOBEL FIN PRO         11.187   9/28/2012     EUR    75.60
VONTOBEL FIN PRO         11.357   9/28/2012     EUR    72.80
VONTOBEL FIN PRO         11.497   9/28/2012     EUR    65.00
VONTOBEL FIN PRO         11.502   9/28/2012     EUR    71.58
VONTOBEL FIN PRO         11.502   9/28/2012     EUR    45.78
VONTOBEL FIN PRO         11.577   9/28/2012     EUR    73.24
VONTOBEL FIN PRO         11.676   9/28/2012     EUR    62.22
VONTOBEL FIN PRO         11.764   9/28/2012     EUR    73.00
VONTOBEL FIN PRO         11.790   9/28/2012     EUR    69.26
VONTOBEL FIN PRO         11.797   9/28/2012     EUR    65.97
VONTOBEL FIN PRO         11.895   9/28/2012     EUR    59.14
VONTOBEL FIN PRO         11.900   9/28/2012     EUR    67.72
VONTOBEL FIN PRO         12.056   9/28/2012     EUR    73.42
VONTOBEL FIN PRO         12.067   9/28/2012     EUR    61.60
VONTOBEL FIN PRO         12.203   9/28/2012     EUR    71.56
VONTOBEL FIN PRO         12.350   9/28/2012     EUR    60.92
VONTOBEL FIN PRO         12.398   9/28/2012     EUR    50.50
VONTOBEL FIN PRO         12.761   9/28/2012     EUR    66.16
VONTOBEL FIN PRO         12.770   9/28/2012     EUR    76.12
VONTOBEL FIN PRO         12.800   9/28/2012     EUR    73.82
VONTOBEL FIN PRO         12.847   9/28/2012     EUR    70.78
VONTOBEL FIN PRO         12.857   9/28/2012     EUR    52.52
VONTOBEL FIN PRO         13.257   9/28/2012     EUR    60.40
VONTOBEL FIN PRO         13.259   9/28/2012     EUR    66.36
VONTOBEL FIN PRO         13.352   9/28/2012     EUR    57.16
VONTOBEL FIN PRO         13.950   9/28/2012     EUR    59.44
VONTOBEL FIN PRO         14.150   9/28/2012     EUR    68.58
VONTOBEL FIN PRO         14.154   9/28/2012     EUR    68.52
VONTOBEL FIN PRO         14.191   9/28/2012     EUR    67.96
VONTOBEL FIN PRO         14.500   9/28/2012     EUR    71.48
VONTOBEL FIN PRO         14.895   9/28/2012     EUR    61.58
VONTOBEL FIN PRO         14.906   9/28/2012     EUR    73.48
VONTOBEL FIN PRO         16.183   9/28/2012     EUR    59.20
VONTOBEL FIN PRO         17.000   9/28/2012     EUR    70.54
VONTOBEL FIN PRO         11.500  12/14/2012     EUR     3.91
VONTOBEL FIN PRO          5.006  12/28/2012     EUR    62.60
VONTOBEL FIN PRO          7.050  12/31/2012     EUR    65.16
VONTOBEL FIN PRO          8.019  12/31/2012     EUR    71.96
VONTOBEL FIN PRO          8.163  12/31/2012     EUR    72.44
VONTOBEL FIN PRO          8.230  12/31/2012     EUR    72.30
VONTOBEL FIN PRO          8.246  12/31/2012     EUR    51.14
VONTOBEL FIN PRO          8.300  12/31/2012     EUR    65.40
VONTOBEL FIN PRO          8.526  12/31/2012     EUR    34.32
VONTOBEL FIN PRO          8.877  12/31/2012     EUR    73.90
VONTOBEL FIN PRO          9.123  12/31/2012     EUR    70.40
VONTOBEL FIN PRO          9.193  12/31/2012     EUR    50.24
VONTOBEL FIN PRO          9.250  12/31/2012     EUR    58.90
VONTOBEL FIN PRO          9.700  12/31/2012     EUR    68.26
VONTOBEL FIN PRO          9.754  12/31/2012     EUR    49.76
VONTOBEL FIN PRO          9.754  12/31/2012     EUR    75.52
VONTOBEL FIN PRO          9.841  12/31/2012     EUR    67.40
VONTOBEL FIN PRO         10.175  12/31/2012     EUR    49.48
VONTOBEL FIN PRO         10.421  12/31/2012     EUR    68.28
VONTOBEL FIN PRO         10.500  12/31/2012     EUR    69.74
VONTOBEL FIN PRO         10.611  12/31/2012     EUR    70.42
VONTOBEL FIN PRO         10.807  12/31/2012     EUR    73.70
VONTOBEL FIN PRO         10.807  12/31/2012     EUR    34.30
VONTOBEL FIN PRO         10.900  12/31/2012     EUR    74.74
VONTOBEL FIN PRO         11.476  12/31/2012     EUR    73.25
VONTOBEL FIN PRO         11.649  12/31/2012     EUR    68.94
VONTOBEL FIN PRO         11.750  12/31/2012     EUR    68.84
VONTOBEL FIN PRO         11.784  12/31/2012     EUR    70.05
VONTOBEL FIN PRO         11.790  12/31/2012     EUR    66.44
VONTOBEL FIN PRO         11.950  12/31/2012     EUR    73.80
VONTOBEL FIN PRO         12.501  12/31/2012     EUR    74.07
VONTOBEL FIN PRO         12.593  12/31/2012     EUR    73.24
VONTOBEL FIN PRO         12.650  12/31/2012     EUR    69.92
VONTOBEL FIN PRO         12.912  12/31/2012     EUR    66.70
VONTOBEL FIN PRO         13.123  12/31/2012     EUR    34.52
VONTOBEL FIN PRO         13.518  12/31/2012     EUR    67.26
VONTOBEL FIN PRO         14.150  12/31/2012     EUR    64.94
VONTOBEL FIN PRO         14.211  12/31/2012     EUR    64.74
VONTOBEL FIN PRO          8.042    1/2/2013     EUR    68.88
VONTOBEL FIN PRO          8.987    1/2/2013     EUR    42.79
VONTOBEL FIN PRO         10.930    1/2/2013     EUR    63.54
VONTOBEL FIN PRO          7.389  11/25/2013     EUR    45.70
VONTOBEL FIN PRO          5.474   3/17/2014     EUR    72.70
VONTOBEL FIN PRO          5.100   4/14/2014     EUR    46.80
WESTLB AG                 7.000   6/21/2012     EUR    73.13
WESTLB AG                 7.000   6/21/2012     EUR    74.10
WESTLB AG                 5.250   5/21/2012     EUR    69.30
WESTLB AG                 6.000   3/26/2012     EUR    47.45
WESTLB AG                 8.000   3/22/2012     EUR    59.06
WESTLB AG                 8.000   3/22/2012     EUR    73.24
WESTLB AG                 8.000   3/22/2012     EUR    67.46
WESTLB AG                 7.500   3/22/2012     EUR    57.86
WESTLB AG                 7.500   3/22/2012     EUR    64.40
WESTLB AG                 7.000   3/22/2012     EUR    48.24
WESTLB AG                 6.500   3/22/2012     EUR    73.22
WESTLB AG                 6.500   3/22/2012     EUR    74.65
WESTLB AG                 5.000   3/22/2012     EUR    67.97
WESTLB AG                 5.000   3/22/2012     EUR    67.39
WESTLB AG                 4.500   3/22/2012     EUR    70.74
WESTLB AG                 4.500   3/22/2012     EUR    48.18
WESTLB AG                 5.000   4/12/2016     EUR    29.01
WESTLB AG                 0.100   9/27/2012     EUR    56.38
WESTLB AG                 0.100   9/27/2012     EUR    75.50
WESTLB AG                 0.075   9/27/2012     EUR    71.94
WESTLB AG                 0.075   9/27/2012     EUR    73.01
WESTLB AG                 6.750   7/30/2012     EUR    73.67
WESTLB AG                 8.500   6/21/2012     EUR    67.74
WESTLB AG                 8.500   6/21/2012     EUR    62.84
WGZ BANK                  7.000  12/21/2012     EUR    73.25
WGZ BANK                  8.000  12/20/2012     EUR    72.33
WGZ BANK                  7.000  12/20/2012     EUR    73.72
WGZ BANK                  8.000   6/21/2012     EUR    75.24
WGZ BANK                  8.000   6/13/2012     EUR    43.63
WGZ BANK                  7.000   6/13/2012     EUR    45.33
WGZ BANK                  6.000   6/13/2012     EUR    47.22
WGZ BANK                  5.000   6/13/2012     EUR    49.32
WGZ BANK                  4.000   6/13/2012     EUR    54.55
WGZ BANK                  8.000   3/29/2012     EUR    70.85
WGZ BANK                  7.000   3/29/2012     EUR    72.18
WGZ BANK                  6.000   3/29/2012     EUR    73.56
WGZ BANK                  9.000   3/27/2012     EUR    68.33
WGZ BANK                  8.000   3/27/2012     EUR    69.47
WGZ BANK                  7.000   3/27/2012     EUR    70.65
WGZ BANK                  6.000   3/27/2012     EUR    73.20
WGZ BANK                  7.000  12/28/2012     EUR    73.71
WGZ BANK                  8.000  12/28/2012     EUR    70.50
WGZ BANK                  8.000  12/21/2012     EUR    71.84

GREECE
------
HELLENIC REP I/L          2.300   7/25/2030     EUR    19.00
HELLENIC REP I/L          2.900   7/25/2025     EUR    19.00
HELLENIC REPUB            4.625   6/25/2013     USD    38.63
HELLENIC REPUB            2.125    7/5/2013     CHF    39.75
HELLENIC REPUB            4.590    4/8/2016     EUR    23.75
HELLENIC REPUB            5.000   3/11/2019     EUR    22.38
HELLENIC REPUB            3.187    7/7/2024     EUR    10.75
HELLENIC REPUB            6.140   4/14/2028     EUR    19.63
HELLENIC REPUB            5.200   7/17/2034     EUR    21.25
HELLENIC REPUBLI          6.500   1/11/2014     EUR    19.38
HELLENIC REPUBLI          4.500   5/20/2014     EUR    18.51
HELLENIC REPUBLI          4.500    7/1/2014     EUR    19.88
HELLENIC REPUBLI          5.500   8/20/2014     EUR    18.50
HELLENIC REPUBLI          4.113   9/30/2014     EUR    20.41
HELLENIC REPUBLI          3.700   7/20/2015     EUR    18.50
HELLENIC REPUBLI          6.100   8/20/2015     EUR    18.00
HELLENIC REPUBLI          3.702   9/30/2015     EUR    18.32
HELLENIC REPUBLI          3.700  11/10/2015     EUR    20.38
HELLENIC REPUBLI          3.600   7/20/2016     EUR    17.50
HELLENIC REPUBLI          4.020   9/13/2016     EUR    17.78
HELLENIC REPUBLI          4.225    3/1/2017     EUR    17.97
HELLENIC REPUBLI          5.900   4/20/2017     EUR    18.13
HELLENIC REPUBLI          4.300   7/20/2017     EUR    17.00
HELLENIC REPUBLI          4.675   10/9/2017     EUR    18.49
HELLENIC REPUBLI          4.590    4/3/2018     EUR    18.15
HELLENIC REPUBLI          4.600   7/20/2018     EUR    19.01
HELLENIC REPUBLI          5.014   2/27/2019     EUR    19.04
HELLENIC REPUBLI          5.959    3/4/2019     EUR    20.07
HELLENIC REPUBLI          6.000   7/19/2019     EUR    18.88
HELLENIC REPUBLI          5.161   9/17/2019     EUR    19.15
HELLENIC REPUBLI          6.500  10/22/2019     EUR    19.01
HELLENIC REPUBLI          6.250   6/19/2020     EUR    19.51
HELLENIC REPUBLI          5.900  10/22/2022     EUR    19.01
HELLENIC REPUBLI          2.000   2/24/2023     EUR    25.30
HELLENIC REPUBLI          2.000   2/24/2024     EUR    25.50
HELLENIC REPUBLI          4.700   3/20/2024     EUR    18.01
HELLENIC REPUBLI          2.000   2/24/2025     EUR    24.50
HELLENIC REPUBLI          1.000   6/30/2012     EUR    68.00
HELLENIC REPUBLI          2.000   2/24/2026     EUR    24.37
HELLENIC REPUBLI          5.300   3/20/2026     EUR    18.50
HELLENIC REPUBLI          2.000   2/24/2027     EUR    24.39
HELLENIC REPUBLI          2.000   2/24/2028     EUR    22.24
HELLENIC REPUBLI          2.000   2/24/2029     EUR    23.92
HELLENIC REPUBLI          2.000   2/24/2030     EUR    23.92
HELLENIC REPUBLI          5.250   6/20/2012     EUR    70.13
HELLENIC REPUBLI          2.000   2/24/2031     EUR    23.42
HELLENIC REPUBLI          2.000   2/24/2032     EUR    23.42
HELLENIC REPUBLI          2.000   2/24/2033     EUR    23.42
HELLENIC REPUBLI          2.000   2/24/2034     EUR    23.42
HELLENIC REPUBLI          2.000   2/24/2035     EUR    23.42
HELLENIC REPUBLI          2.000   2/24/2036     EUR    23.17
HELLENIC REPUBLI          2.000   2/24/2037     EUR    23.19
HELLENIC REPUBLI          4.500   9/20/2037     EUR    17.50
HELLENIC REPUBLI          2.000   2/24/2038     EUR    23.19
HELLENIC REPUBLI          2.000   2/24/2039     EUR    23.19
HELLENIC REPUBLI          2.000   2/24/2040     EUR    23.19
HELLENIC REPUBLI          4.600   9/20/2040     EUR    17.50
HELLENIC REPUBLI          2.000   2/24/2041     EUR    23.45
HELLENIC REPUBLI          2.000   2/24/2042     EUR    22.50
HELLENIC REPUBLI          4.100   8/20/2012     EUR    15.13
HELLENIC REPUBLI          5.250   5/18/2012     EUR    18.64
HELLENIC REPUBLI          4.300   3/20/2012     EUR    27.97
HELLENIC REPUBLI          4.506   3/31/2013     EUR    37.99
HELLENIC REPUBLI          4.600   5/20/2013     EUR    17.50
HELLENIC REPUBLI          7.500   5/20/2013     EUR    17.50
HELLENIC REPUBLI          3.900    7/3/2013     EUR    16.13
HELLENIC REPUBLI          4.427   7/31/2013     EUR    30.78
HELLENIC REPUBLI          4.000   8/20/2013     EUR    17.50
HELLENIC REPUBLI          4.520   9/30/2013     EUR    24.75
NATL BK GREECE            3.875   10/7/2016     EUR    68.87
YIOULA GLASSWORK          9.000   12/1/2015     EUR    51.50
YIOULA GLASSWORK          9.000   12/1/2015     EUR    51.63

GUERNSEY
--------
BCV GUERNSEY              7.850   5/18/2012     CHF    74.76
BCV GUERNSEY             13.000   5/18/2012     CHF    62.19
BCV GUERNSEY             10.000   5/18/2012     CHF    54.32
BCV GUERNSEY              8.500   5/25/2012     EUR    59.34
BCV GUERNSEY             18.150   5/17/2012     CHF    43.47
BCV GUERNSEY             18.600   5/17/2012     USD    43.56
BCV GUERNSEY             19.200   5/17/2012     EUR    44.76
BCV GUERNSEY              7.250   5/25/2012     CHF    72.01
BCV GUERNSEY              7.500    3/8/2012     USD    65.88
BCV GUERNSEY              8.500   3/30/2012     CHF    70.35
BCV GUERNSEY              7.200   4/13/2012     CHF    66.61
BCV GUERNSEY              9.500   4/13/2012     EUR    34.65
BCV GUERNSEY             10.030   4/20/2012     CHF    69.78
BCV GUERNSEY             10.030   5/11/2012     CHF    74.36
BKB FINANCE               5.300    3/8/2012     CHF    72.04
BKB FINANCE               7.000   3/29/2012     CHF    70.35
BKB FINANCE               8.500   3/29/2012     CHF    62.83
BKB FINANCE               9.850   4/26/2012     CHF    60.29
BKB FINANCE               7.800    5/3/2012     CHF    60.24
BKB FINANCE               8.050    5/3/2012     CHF    67.61
BKB FINANCE               6.400   5/10/2012     CHF    65.47
BKB FINANCE               7.150   5/10/2012     CHF    74.00
BKB FINANCE               7.750   5/31/2012     CHF    71.87
BKB FINANCE               7.650   6/14/2012     CHF    70.53
BKB FINANCE               9.200   6/21/2012     CHF    68.65
BKB FINANCE               7.400   6/28/2012     CHF    71.92
BKB FINANCE               8.350   1/14/2013     CHF    64.18
BKB FINANCE               7.750    6/7/2012     CHF    41.75
BKB FINANCE               6.850   6/14/2012     CHF    68.36
BKB FINANCE               8.900   9/27/2012     CHF    64.91
BKB FINANCE               9.050    8/9/2012     CHF    59.65
BKB FINANCE               6.300   7/12/2012     CHF    72.29
EFG FINANCIAL PR         10.500    9/3/2012     CHF    59.51
EFG FINANCIAL PR          4.200    3/9/2012     CHF    69.03
EFG FINANCIAL PR          7.250    3/9/2012     EUR    36.96
EFG FINANCIAL PR          7.400    3/9/2012     EUR    74.87
EFG FINANCIAL PR         11.500    3/9/2012     EUR    68.40
EFG FINANCIAL PR         15.000   3/14/2012     USD    66.93
EFG FINANCIAL PR         17.500   3/14/2012     EUR    67.58
EFG FINANCIAL PR          8.000   3/15/2012     CHF    59.87
EFG FINANCIAL PR         10.850   3/16/2012     USD    55.92
EFG FINANCIAL PR         16.250   3/16/2012     USD    58.66
EFG FINANCIAL PR         16.500   3/16/2012     USD    72.32
EFG FINANCIAL PR         19.400   3/16/2012     USD    26.10
EFG FINANCIAL PR          8.000   3/19/2012     CHF    61.11
EFG FINANCIAL PR         10.000   3/19/2012     CHF    47.59
EFG FINANCIAL PR         11.550   3/19/2012     CHF    40.62
EFG FINANCIAL PR         10.000   3/20/2012     CHF    57.99
EFG FINANCIAL PR         15.500   3/20/2012     EUR    75.20
EFG FINANCIAL PR         10.000   3/22/2012     CHF    61.29
EFG FINANCIAL PR         17.700   3/23/2012     USD    36.38
EFG FINANCIAL PR          9.040   3/26/2012     USD    59.25
EFG FINANCIAL PR         10.750   3/28/2012     EUR    53.70
EFG FINANCIAL PR         11.000   3/28/2012     EUR    55.83
EFG FINANCIAL PR          8.500   3/29/2012     CHF    60.84
EFG FINANCIAL PR          8.400   9/30/2013     CHF    69.13
EFG FINANCIAL PR          6.500   8/27/2013     CHF    58.61
EFG FINANCIAL PR          7.000   4/19/2013     EUR    73.78
EFG FINANCIAL PR         14.000   2/19/2013     CHF    24.07
EFG FINANCIAL PR          5.800   1/23/2013     CHF    72.33
EFG FINANCIAL PR         16.500   1/18/2013     CHF    73.51
EFG FINANCIAL PR         12.500   1/15/2013     CHF    53.71
EFG FINANCIAL PR         10.250   1/15/2013     CHF    31.42
EFG FINANCIAL PR          9.000   1/15/2013     CHF    50.71
EFG FINANCIAL PR          8.830  12/28/2012     USD    64.96
EFG FINANCIAL PR         12.000  12/27/2012     CHF    17.29
EFG FINANCIAL PR          9.300  12/21/2012     CHF    73.24
EFG FINANCIAL PR         17.500  12/14/2012     EUR    62.13
EFG FINANCIAL PR         13.750   12/6/2012     CHF    60.52
EFG FINANCIAL PR         16.000  11/27/2012     EUR    58.97
EFG FINANCIAL PR         14.500  11/27/2012     CHF    55.57
EFG FINANCIAL PR         11.250  11/27/2012     CHF    74.02
EFG FINANCIAL PR         14.800  11/20/2012     EUR    71.91
EFG FINANCIAL PR         11.500  11/20/2012     EUR    71.22
EFG FINANCIAL PR          8.000  11/20/2012     CHF    70.53
EFG FINANCIAL PR         17.000  11/13/2012     EUR    67.57
EFG FINANCIAL PR         14.000  11/13/2012     USD    34.27
EFG FINANCIAL PR         13.000  11/13/2012     CHF    33.98
EFG FINANCIAL PR         12.750  11/13/2012     CHF    31.33
EFG FINANCIAL PR         10.500  11/13/2012     CHF    72.19
EFG FINANCIAL PR         10.500  11/13/2012     CHF    73.03
EFG FINANCIAL PR          9.330  10/29/2012     USD    59.22
EFG FINANCIAL PR         21.000  10/26/2012     USD    39.05
EFG FINANCIAL PR         20.500  10/26/2012     EUR    39.01
EFG FINANCIAL PR         20.000  10/26/2012     CHF    38.56
EFG FINANCIAL PR         17.000  10/26/2012     EUR    58.11
EFG FINANCIAL PR         16.750  10/26/2012     CHF    42.94
EFG FINANCIAL PR         13.250  10/26/2012     CHF    72.98
EFG FINANCIAL PR         11.250  10/26/2012     CHF    71.14
EFG FINANCIAL PR          6.250  10/25/2012     CHF    68.46
EFG FINANCIAL PR         12.000  10/19/2012     USD    65.09
EFG FINANCIAL PR         20.000  10/11/2012     CHF    36.58
EFG FINANCIAL PR         18.000  10/11/2012     EUR    75.24
EFG FINANCIAL PR         12.500  10/11/2012     CHF    71.38
EFG FINANCIAL PR         10.620   10/3/2012     USD    47.55
EFG FINANCIAL PR          9.930   10/3/2012     EUR    47.56
EFG FINANCIAL PR         10.000   10/1/2012     CHF    70.77
EFG FINANCIAL PR         11.250   9/25/2012     CHF    70.47
EFG FINANCIAL PR          9.000   9/10/2012     CHF    64.94
EFG FINANCIAL PR          7.000    9/7/2012     EUR    69.07
EFG FINANCIAL PR          7.000    9/7/2012     CHF    56.44
EFG FINANCIAL PR          9.600    9/4/2012     USD    62.29
EFG FINANCIAL PR          9.500    9/4/2012     USD    50.52
EFG FINANCIAL PR         14.150   4/19/2012     EUR    49.23
EFG FINANCIAL PR         22.000   8/24/2012     USD    26.72
EFG FINANCIAL PR         14.000   8/24/2012     CHF    40.20
EFG FINANCIAL PR         11.750   8/24/2012     CHF    68.88
EFG FINANCIAL PR         11.500   8/24/2012     CHF    58.01
EFG FINANCIAL PR         11.800   8/17/2012     CHF    61.58
EFG FINANCIAL PR         11.600   8/17/2012     EUR    64.77
EFG FINANCIAL PR         12.000   8/16/2012     EUR    39.43
EFG FINANCIAL PR         13.750   8/14/2012     EUR    70.73
EFG FINANCIAL PR         12.750   8/14/2012     CHF    59.85
EFG FINANCIAL PR         11.000   8/14/2012     CHF    57.55
EFG FINANCIAL PR          8.500   8/14/2012     CHF    74.43
EFG FINANCIAL PR          3.850   8/13/2012     EUR    52.63
EFG FINANCIAL PR         12.800   8/10/2012     CHF    61.87
EFG FINANCIAL PR         11.700   8/10/2012     USD    47.11
EFG FINANCIAL PR         19.000    8/8/2012     USD    64.12
EFG FINANCIAL PR         11.000    8/7/2012     CHF    52.01
EFG FINANCIAL PR         10.000    8/7/2012     CHF    59.97
EFG FINANCIAL PR          9.000    8/3/2012     CHF    14.25
EFG FINANCIAL PR          9.000    8/3/2012     CHF    58.47
EFG FINANCIAL PR          9.000    8/3/2012     CHF    69.56
EFG FINANCIAL PR         11.750   7/31/2012     CHF    59.88
EFG FINANCIAL PR         11.750   7/31/2012     CHF    59.83
EFG FINANCIAL PR         11.500   7/31/2012     EUR    61.25
EFG FINANCIAL PR         10.000   7/31/2012     CHF    59.17
EFG FINANCIAL PR         11.000   7/25/2012     CHF    25.98
EFG FINANCIAL PR         10.250   7/25/2012     CHF    47.76
EFG FINANCIAL PR         10.500    7/5/2012     CHF    47.72
EFG FINANCIAL PR         11.300   6/28/2012     EUR    63.86
EFG FINANCIAL PR         10.000   6/22/2012     CHF    46.04
EFG FINANCIAL PR          7.000   6/21/2012     CHF    63.19
EFG FINANCIAL PR          9.650   6/20/2012     USD    57.75
EFG FINANCIAL PR         13.110   6/18/2012     USD    57.36
EFG FINANCIAL PR         12.250   6/15/2012     EUR    14.61
EFG FINANCIAL PR          5.200   6/14/2012     CHF    65.69
EFG FINANCIAL PR         12.250    6/8/2012     EUR    68.63
EFG FINANCIAL PR         10.000    6/8/2012     CHF    33.40
EFG FINANCIAL PR         12.750    6/6/2012     CHF    68.18
EFG FINANCIAL PR         12.750    6/6/2012     EUR    73.99
EFG FINANCIAL PR         10.000   5/30/2012     CHF    64.35
EFG FINANCIAL PR         10.910   5/29/2012     EUR    46.48
EFG FINANCIAL PR         11.200   5/25/2012     CHF    72.68
EFG FINANCIAL PR          7.440   5/25/2012     EUR    59.91
EFG FINANCIAL PR          8.000   5/24/2012     USD    60.37
EFG FINANCIAL PR         14.000   5/22/2012     EUR    73.87
EFG FINANCIAL PR         12.750   5/22/2012     EUR    65.81
EFG FINANCIAL PR         11.250   5/22/2012     CHF    59.73
EFG FINANCIAL PR         10.750   5/22/2012     CHF    69.62
EFG FINANCIAL PR         12.960   5/21/2012     EUR    26.53
EFG FINANCIAL PR         10.830   5/18/2012     CHF     6.29
EFG FINANCIAL PR          9.000   5/16/2012     CHF    73.11
EFG FINANCIAL PR          8.950   5/14/2012     CHF    65.82
EFG FINANCIAL PR         11.000   5/11/2012     EUR    27.37
EFG FINANCIAL PR         10.050   5/11/2012     CHF    62.34
EFG FINANCIAL PR         10.000   5/11/2012     CHF    27.29
EFG FINANCIAL PR         10.600    5/9/2012     CHF    31.71
EFG FINANCIAL PR          9.290    5/7/2012     CHF    70.87
EFG FINANCIAL PR          9.000    5/7/2012     USD    52.79
EFG FINANCIAL PR          7.000    5/7/2012     CHF    73.58
EFG FINANCIAL PR         18.600    5/4/2012     CHF    69.02
EFG FINANCIAL PR         14.750    5/4/2012     EUR    45.69
EFG FINANCIAL PR         11.000    5/4/2012     USD    65.53
EFG FINANCIAL PR         10.500    5/4/2012     CHF    75.24
EFG FINANCIAL PR          9.500    5/4/2012     CHF    64.13
EFG FINANCIAL PR          6.500    5/3/2012     USD    63.52
EFG FINANCIAL PR         10.800    5/2/2012     CHF    68.92
EFG FINANCIAL PR         11.300   4/27/2012     EUR    68.00
EFG FINANCIAL PR         10.250   4/26/2012     EUR    49.23
EFG FINANCIAL PR          8.650   4/23/2012     USD    66.76
EFG FINANCIAL PR         11.000   4/20/2012     USD    69.45
EFG FINANCIAL PR         10.500   4/20/2012     USD    53.49
EFG FINANCIAL PR         10.000   4/20/2012     USD    53.56
EFG FINANCIAL PR          9.450   4/20/2012     CHF    60.92
EFG FINANCIAL PR         18.110   4/19/2012     EUR    65.75
EFG FINANCIAL PR         16.500   4/19/2012     EUR    65.54
EFG FINANCIAL PR         13.050   4/19/2012     USD    49.12
EFG FINANCIAL PR         10.500   4/19/2012     CHF    62.62
EFG FINANCIAL PR         10.000   4/19/2012     CHF    62.56
EFG FINANCIAL PR          9.600   4/11/2012     USD    62.07
EFG FINANCIAL PR          9.300   4/11/2012     USD    51.86
EFG FINANCIAL PR          9.000   4/11/2012     USD    70.26
EFG FINANCIAL PR         12.100    4/5/2012     USD    63.02
EFG FINANCIAL PR         10.400    4/5/2012     USD    62.45
EFG FINANCIAL PR          9.500    4/5/2012     USD    51.97
EFG FINANCIAL PR          9.500    4/5/2012     EUR    51.95
EFG FINANCIAL PR          8.550    4/5/2012     USD    51.74
EFG FINANCIAL PR          8.500    4/5/2012     USD    61.98
EFG FINANCIAL PR          7.200    4/5/2012     USD    61.66
EFG FINANCIAL PR         18.000    4/4/2012     CHF    19.34
MARE BALTIC PCC           3.000   11/1/2012     DKK    36.00
MARE BALTIC PCC           3.000  11/17/2014     DKK    22.00
MARE BALTIC PCC           3.000  11/17/2014     DKK     1.00
MARE BALTIC PCC           2.000   11/1/2015     DKK     0.01
MARE BALTIC PCC           2.000   11/1/2015     DKK     0.01
ZURCHER KANT FIN          9.250   11/9/2012     CHF    66.29
ZURCHER KANT FIN          7.340   4/16/2013     CHF    68.55
ZURCHER KANT FIN          9.000   6/18/2012     CHF    61.47
ZURCHER KANT FIN         11.000   7/13/2012     CHF    75.08
ZURCHER KANT FIN          8.548    7/6/2012     EUR    70.66
ZURCHER KANT FIN          7.844   5/18/2012     CHF    64.53
ZURCHER KANT FIN         13.575   6/15/2012     CHF    75.79
ZURCHER KANT FIN          8.000   6/15/2012     CHF    66.62
ZURCHER KANT FIN         12.334   3/15/2012     CHF    72.85
ZURCHER KANT FIN         11.000   3/16/2012     CHF    71.79
ZURCHER KANT FIN          7.721   3/30/2012     CHF    69.99
ZURCHER KANT FIN         13.000   4/19/2012     CHF    73.61
ZURCHER KANT FIN         11.783   4/27/2012     CHF    74.34
ZURCHER KANT FIN         11.000   4/20/2012     CHF    53.97
FHB MORTGAGE BAN          4.500   3/22/2022     EUR    54.38

IRELAND
-------
AIB MORTGAGE BNK          5.000   2/12/2030     EUR    52.67
AIB MORTGAGE BNK          5.000    3/1/2030     EUR    52.65
AIB MORTGAGE BNK          5.580   4/28/2028     EUR    58.65
BANK OF IRELAND           5.600   9/18/2023     EUR    56.25
BANK OF IRELAND          10.000   2/12/2020     EUR    78.33
BK IRELAND MTGE           5.400   11/6/2029     EUR    59.33
BK IRELAND MTGE           5.450    3/1/2030     EUR    59.60
BK IRELAND MTGE           5.760    9/7/2029     EUR    62.37
BK IRELAND MTGE           5.360  10/12/2029     EUR    59.06
DEPFA ACS BANK            0.500    3/3/2025     CAD    39.57
DEPFA ACS BANK            5.125   3/16/2037     USD    72.20
DEPFA ACS BANK            5.125   3/16/2037     USD    72.20
DEPFA ACS BANK            4.900   8/24/2035     CAD    69.83
KALVEBOD PLC              2.000    5/1/2106     DKK    32.50

ITALY
-----
BANCA POP VICENT          4.970   4/20/2027     EUR    71.92
ICCREA BANCAIMPR          5.220   4/11/2017     EUR    61.75
MONTE DEI PASCHI         29.540  10/31/2018     EUR    40.00
REGION OF LOMBAR          5.804  10/25/2032     USD    75.61
REP OF ITALY              2.200   9/15/2058     EUR    64.30
REP OF ITALY              1.850   9/15/2057     EUR    57.10
REP OF ITALY              2.870   5/19/2036     JPY    51.70
REP OF ITALY              5.250   12/7/2034     GBP    74.89
REP OF ITALY              2.000   9/15/2062     EUR    58.84
REP OF ITALY              4.850   6/11/2060     EUR    74.47
SEAT PAGINE              10.500   1/31/2017     EUR    65.00
SEAT PAGINE              10.500   1/31/2017     EUR    63.38
UBI BANCA SPCA            6.250  11/18/2018     EUR    51.18
UNICREDITO ITALI          4.748   2/15/2035     EUR    95.00
UNIPOL ASSICURAZ          5.660   7/28/2023     EUR    69.02

LUXEMBOURG
----------
ARCELORMITTAL             7.250    4/1/2014     EUR    23.91
CONTROLINVESTE            3.000   1/28/2015     EUR    73.08
DEXIA BQ INT LUX          6.000    7/2/2018     EUR    71.45
ESFG INTERNATION          6.875  10/21/2019     EUR    62.11
ESPIRITO SANTO F          9.750  12/19/2025     EUR    65.62
FORTIS LUX FIN            3.420   6/29/2021     EUR    57.00
FORTIS LUX FINAN          6.500  10/22/2012     EUR    67.50
INTRALOT LUX SA           2.250  12/20/2013     EUR    68.57
LIGHTHOUSE INTL           8.000   4/30/2014     EUR    14.00
VIVALDIS                  0.500    8/8/2028     EUR    70.14
VIVALDIS                  0.500   6/13/2013     EUR    65.57
VIVALDIS                  0.500   6/13/2028     EUR    65.57

KAZAKHSTAN
----------
APP INTL FINANCE         11.750   10/1/2005     USD     0.00
ASTANA FINANCE            7.875    6/8/2010     EUR     3.25
BK NED GEMEENTEN          0.500   2/24/2025     CAD    63.35
BK NED GEMEENTEN          0.500   3/17/2016     TRY    74.44
BK NED GEMEENTEN          0.500   6/22/2021     ZAR    47.35
BK NED GEMEENTEN          0.500   5/12/2021     ZAR    47.84
BK NED GEMEENTEN          0.500   9/15/2016     TRY    72.41
BK NED GEMEENTEN          0.500    3/3/2021     NZD    70.42
BK NED GEMEENTEN          0.500   4/27/2016     TRY    73.96
BK NED GEMEENTEN          0.500   5/25/2016     TRY    73.64
BK NED GEMEENTEN          0.500   6/22/2016     TRY    73.33
BK NED GEMEENTEN          0.500   3/29/2021     NZD    70.18
BLT FINANCE BV            7.500   5/15/2014     USD    25.50
BRIT INSURANCE            6.625   12/9/2030     GBP    62.05
FRIESLAND BANK            4.210  12/29/2025     EUR    72.65
INDAH KIAT INTL          11.875   6/15/2002     USD     0.01
INDAH KIAT INTL          12.500   6/15/2006     USD     0.01
ING BANK NV               4.200  12/19/2035     EUR    64.24
KBC IFIMA NV              7.500   4/30/2012     EUR    56.55
LEHMAN BROS TSY           4.870   10/8/2013     USD    34.50
LEHMAN BROS TSY           7.250   10/5/2035     EUR     7.10
LEHMAN BROS TSY           7.000   5/17/2035     EUR     7.00
LEHMAN BROS TSY           8.250   3/16/2035     EUR     6.05
LEHMAN BROS TSY           6.000   2/15/2035     EUR     6.00
LEHMAN BROS TSY           6.000   11/2/2035     EUR     6.50
NATL INVESTER BK         25.983    5/7/2029     EUR    20.42
NED WATERSCHAPBK          0.500   3/11/2025     CAD    61.21
NIB CAPITAL BANK          4.510  12/16/2035     EUR    62.37
PORTUGAL TEL FIN          4.500   6/16/2025     EUR    68.23
Q-CELLS INTERNAT          5.750   5/26/2014     EUR    18.72
Q-CELLS INTERNAT          1.375   4/30/2012     EUR    22.25
RABOBANK                  0.500  11/26/2021     ZAR    47.17
RABOBANK                  0.500  10/27/2016     ZAR    72.31
RBS NV                    0.474  12/13/2028     USD    72.22
RBS NV EX-ABN NV          2.910   6/21/2036     JPY    64.20
RBS NV EX-ABN NV          6.500   5/17/2018     AUD    71.62
SNS BANK                  5.215   12/3/2027     EUR    68.23
SNS BANK                  5.250   4/11/2023     EUR    74.97
SNS BANK                  4.580   3/20/2026     EUR    64.98
SNS BANK                  6.625   5/14/2018     EUR    88.59
SNS BANK                  4.996   1/26/2035     EUR    62.80

NORWAY
------
KOMMUNALBANKEN            0.500   5/25/2016     ZAR    73.69
KOMMUNALBANKEN            0.500   7/26/2016     ZAR    72.65
KOMMUNALBANKEN            0.500   7/29/2016     ZAR    72.59
KOMMUNALBANKEN            0.500   5/25/2018     ZAR    61.84
KOMMUNALBANKEN            0.500   3/24/2016     ZAR    74.74
NORSKE SKOGIND            7.125  10/15/2033     USD    52.00
NORSKE SKOGIND            7.125  10/15/2033     USD    52.00
NORSKE SKOGIND            7.000   6/26/2017     EUR    64.41
NORSKE SKOGIND            6.125  10/15/2015     USD    68.88
NORSKE SKOGIND            6.125  10/15/2015     USD    68.88
RENEWABLE CORP            6.500    6/4/2014     EUR    63.15

POLAND
------
POLAND GOVT BOND          5.000   4/25/2037     PLN    60.76
POLAND-REGD-RSTA          2.810  11/16/2037     JPY    74.49
REP OF POLAND             2.648   3/29/2034     JPY    73.39

PORTUGAL
--------
BANCO COM PORTUG          3.750   10/8/2016     EUR    74.31
CAIXA GERAL DEPO          5.380   10/1/2038     EUR    58.07
CAIXA GERAL DEPO          4.400   10/8/2019     EUR    67.00
CAIXA GERAL DEPO          5.320    8/5/2021     EUR    67.75
CAIXA GERAL DEPO          4.250   1/27/2020     EUR    74.68
COMBOIOS DE PORT          4.170  10/16/2019     EUR    50.38
METRO DE LISBOA           7.300  12/23/2025     EUR    48.38
METRO DE LISBOA           4.799   12/7/2027     EUR    44.38
METRO DE LISBOA           5.750    2/4/2019     EUR    53.38
METRO DE LISBOA           4.061   12/4/2026     EUR    46.00
MONTEPIO GERAL            5.000    2/8/2017     EUR    61.50
PARPUBLICA                4.200  11/16/2026     EUR    45.00
PARPUBLICA                4.191  10/15/2014     EUR    76.93
PARPUBLICA                3.567   9/22/2020     EUR    50.66
PORTUGAL (REP)            3.500   3/25/2015     USD    71.48
PORTUGAL (REP)            3.500   3/25/2015     USD    71.48
PORTUGUESE OT'S           4.950  10/25/2023     EUR    49.67
PORTUGUESE OT'S           4.100   4/15/2037     EUR    41.86
PORTUGUESE OT'S           3.850   4/15/2021     EUR    50.00
PORTUGUESE OT'S           4.800   6/15/2020     EUR    52.27
PORTUGUESE OT'S           4.750   6/14/2019     EUR    53.48
PORTUGUESE OT'S           4.450   6/15/2018     EUR    55.02
PORTUGUESE OT'S           4.350  10/16/2017     EUR    56.97
PORTUGUESE OT'S           4.200  10/15/2016     EUR    62.56
PORTUGUESE OT'S           6.400   2/15/2016     EUR    70.96
PORTUGUESE OT'S           3.350  10/15/2015     EUR    67.00
REFER                     4.675  10/16/2024     EUR    43.13
REFER                     4.250  12/13/2021     EUR    38.00
REFER                     5.875   2/18/2019     EUR    51.25
REFER                     4.000   3/16/2015     EUR    48.01
REFER                     4.047  11/16/2026     EUR    39.00

RUSSIA
------
ARIZK                     3.000  12/20/2030     RUB    49.14
DVTG-FINANS               7.750   7/18/2013     RUB    20.29
DVTG-FINANS              17.000   8/29/2013     RUB    55.55
MIRAX                    17.000   9/17/2012     RUB    21.11
MOSMART FINANS            0.010   4/12/2012     RUB     1.81
NOK                      12.500   8/26/2014     RUB     5.00
PROMPEREOSNASTKA          1.000  12/17/2012     RUB     0.01
PROTON-FINANCE            9.000   6/12/2012     RUB    65.00
RBC OJSC                  7.000   4/23/2015     RUB    75.00
RBC OJSC                  7.000   4/23/2015     RUB    75.00
RBC OJSC                  3.270   4/19/2018     RUB    42.50
SATURN                    8.000    6/6/2014     RUB     2.02
SERBIA T-BONDS            5.850   2/16/2026     EUR    72.88

SPAIN
-----
AYT CEDULAS CAJA          3.750   6/30/2025     EUR    58.29
AYT CEDULAS CAJA          4.750   5/25/2027     EUR    65.43
AYT CEDULAS CAJA          4.250  10/25/2023     EUR    68.72
AYT CEDULAS CAJA          3.750  12/14/2022     EUR    66.80
AYUNTAM DE MADRD          4.550   6/16/2036     EUR    64.39
BANCAJA                   1.500   5/22/2018     EUR    68.64
BANCAJA EMI SA            2.755   5/11/2037     JPY    72.05
BANCO BILBAO VIZ          4.500   2/16/2022     EUR    73.95
BANCO BILBAO VIZ          6.025    3/3/2033     EUR    60.35
BANCO CASTILLA            1.500   6/23/2021     EUR    71.42
BBVA SUB CAP UNI          2.750  10/22/2035     JPY    51.30
CAIXA TERRASSA            4.700    8/9/2021     EUR    58.71
CAJA MADRID               5.116   7/15/2015     EUR    74.00
CAJA MADRID               4.125   3/24/2036     EUR    70.28
CEDULAS TDA 6 FO          4.250   4/10/2031     EUR    56.42
CEDULAS TDA 6 FO          3.875   5/23/2025     EUR    61.13
CEDULAS TDA A-4           4.125   4/10/2021     EUR    74.42
CEDULAS TDA A-5           4.250   3/28/2027     EUR    60.42
COMUN AUTO CANAR          3.900  11/30/2035     EUR    49.62
COMUN AUTO CANAR          4.200  10/25/2036     EUR    50.55
COMUN AUTO CANAR          5.750  10/15/2029     EUR    71.17
COMUNIDAD ARAGON          4.646   7/11/2036     EUR    70.96
COMUNIDAD BALEAR          4.063  11/23/2035     EUR    47.32
COMUNIDAD BALEAR          3.869  11/23/2020     EUR    70.44
COMUNIDAD MADRID          4.300   9/15/2026     EUR    70.54
DIPUTACION FOR            4.323  12/29/2023     EUR    67.13
GEN DE CATALUNYA          4.690  10/28/2034     EUR    53.92
GEN DE CATALUNYA          5.950   10/1/2030     EUR    66.95
GEN DE CATALUNYA          5.900   5/28/2030     EUR    67.51
GEN DE CATALUNYA          5.219   9/10/2029     EUR    61.83
GEN DE CATALUNYA          5.325   10/5/2028     EUR    64.37
GEN DE CATALUNYA          5.400   5/13/2030     EUR    62.89
GEN DE CATALUNYA          4.900   9/15/2021     EUR    71.92
GEN DE CATALUNYA          4.801   7/31/2020     EUR    73.70
GEN DE CATALUNYA          5.250   10/5/2023     EUR    68.97
GEN DE CATALUNYA          6.350  11/30/2041     EUR    67.02
GEN DE CATALUNYA          4.220   4/26/2035     EUR    50.06
GEN DE CATALUNYA          2.965    9/8/2039     JPY    50.90
GENERAL DE ALQUI          2.750   8/20/2012     EUR    72.43
GENERAL VALENCIA          4.000   11/2/2016     EUR    79.79
GENERAL VALENCIA          4.900   3/17/2020     EUR    70.50
GENERAL VALENCIA          5.900  11/30/2032     EUR    59.38
IM CEDULAS 10             4.500   2/21/2022     EUR    74.72
IM CEDULAS 5              3.500   6/15/2020     EUR    73.77
INSTITUT CATALA           4.250   6/15/2024     EUR    64.65
JUNTA ANDALUCIA           5.000   7/13/2022     EUR    73.42
JUNTA ANDALUCIA           6.600  11/29/2030     EUR    73.06
JUNTA ANDALUCIA           5.700   7/20/2028     EUR    68.05
JUNTA ANDALUCIA           4.250  10/31/2036     EUR    49.49
JUNTA ANDALUCIA           3.065   7/29/2039     JPY    53.23
JUNTA ANDALUCIA           5.150   5/24/2034     EUR    58.97
JUNTA ANDALUCIA           3.170   7/29/2039     JPY    54.58
JUNTA ANDALUCIA           4.125   1/20/2020     EUR    73.76
JUNTA ANDALUCIA           4.850   3/17/2020     EUR    73.65
JUNTA CASTILLA            4.650   11/8/2022     EUR    69.35
JUNTA LA MANCHA           4.875   3/18/2020     EUR    67.88
JUNTA LA MANCHA           4.625  11/30/2022     EUR    62.88
JUNTA LA MANCHA           2.810  10/14/2022     JPY    69.13
JUNTA LA MANCHA           7.705   2/15/2033     EUR    65.75
JUNTA LA MANCHA           5.950    9/9/2030     EUR    55.42
JUNTA LA MANCHA           3.875   1/31/2036     EUR    33.25
MAPFRE SA                 5.921   7/24/2037     EUR    72.26
SACYR VALLEHERM           6.500    5/1/2016     EUR    64.35
XUNTA DE GALICIA          4.025  11/28/2035     EUR    47.36
XUNTA DE GALICIA          5.350  11/22/2028     EUR    63.28

SWEDEN
------
SWEDISH EXP CRED          0.500   1/25/2028     USD    53.78
SWEDISH EXP CRED          0.500   8/25/2016     ZAR    72.64
SWEDISH EXP CRED          0.500   8/26/2016     ZAR    72.66
SWEDISH EXP CRED          7.500   6/12/2012     USD     7.92
SWEDISH EXP CRED          9.250   4/27/2012     USD     8.23
SWEDISH EXP CRED          9.750   3/23/2012     USD     8.74
SWEDISH EXP CRED          7.000    3/9/2012     USD    10.72
SWEDISH EXP CRED          7.000    3/9/2012     USD    10.89
SWEDISH EXP CRED          0.500   9/20/2016     ZAR    72.20
SWEDISH EXP CRED          0.500   9/30/2016     ZAR    72.07
SWEDISH EXP CRED          0.500   8/25/2021     ZAR    48.37
SWEDISH EXP CRED          0.500  12/17/2027     USD    54.24
SWEDISH EXP CRED          0.500   1/31/2022     ZAR    48.03
SWEDISH EXP CRED          0.500   8/26/2021     AUD    63.95
SWEDISH EXP CRED          0.500   6/29/2016     TRY    72.64
SWEDISH EXP CRED          0.500   2/22/2022     ZAR    46.57
SWEDISH EXP CRED          0.500   6/14/2016     ZAR    73.86
SWEDISH EXP CRED          0.500   3/15/2022     ZAR    46.37

SWITZERLAND
-----------
BANK JULIUS BAER          7.200   4/12/2012     CHF    65.55
BANK JULIUS BAER         12.000    4/9/2013     CHF    65.90
BANK JULIUS BAER          9.000   9/17/2012     CHF    55.20
BANK JULIUS BAER         22.800    8/3/2012     USD    71.56
BANK JULIUS BAER         10.500   7/18/2012     CHF    72.00
BANK JULIUS BAER         14.300   7/13/2012     CHF    66.25
BANK JULIUS BAER         12.400    7/6/2012     CHF    55.35
BANK JULIUS BAER         11.900    7/6/2012     CHF    74.85
BANK JULIUS BAER         11.900    7/6/2012     CHF    67.35
BANK JULIUS BAER         11.300    7/6/2012     CHF    43.50
BANK JULIUS BAER         10.100    7/6/2012     CHF    42.70
BANK JULIUS BAER         13.000    6/1/2012     USD    61.75
BANK JULIUS BAER         10.000    6/1/2012     CHF    66.20
BANK JULIUS BAER          9.000   5/30/2012     CHF    59.35
BANK JULIUS BAER          9.200   5/25/2012     EUR    65.60
BANK JULIUS BAER          8.400   5/23/2012     CHF    65.25
BANK JULIUS BAER          8.200   5/18/2012     EUR    73.15
BANK JULIUS BAER         13.500   5/11/2012     EUR    74.45
BANK JULIUS BAER         10.000   5/11/2012     CHF    65.85
BANK JULIUS BAER          8.300   5/11/2012     CHF    63.10
BANK JULIUS BAER          6.200   5/11/2012     USD    60.25
BANK JULIUS BAER          7.100   5/10/2012     CHF    67.65
BANK JULIUS BAER         10.500    5/9/2012     EUR    70.50
BANK JULIUS BAER         10.500    5/9/2012     EUR    67.75
BANK JULIUS BAER         10.500   4/26/2012     CHF    64.40
BANK JULIUS BAER          8.200   4/26/2012     EUR    73.30
BANK JULIUS BAER         15.600   4/20/2012     EUR    53.55
BANK JULIUS BAER         12.300   4/20/2012     CHF    61.70
BANK JULIUS BAER         12.100   4/20/2012     EUR    72.80
BANK JULIUS BAER         11.700   4/20/2012     EUR    70.05
BANK JULIUS BAER         12.000   4/16/2012     EUR    61.30
BANK JULIUS BAER         10.500   4/13/2012     EUR    68.40
BANK JULIUS BAER          7.200   4/13/2012     CHF    73.85
BANK JULIUS BAER         13.200   4/12/2012     CHF    60.45
BANK JULIUS BAER         12.200   4/12/2012     CHF     5.65
BANK JULIUS BAER         10.000   4/12/2012     CHF    54.20
BANK JULIUS BAER          9.200   4/12/2012     CHF    53.65
BANK JULIUS BAER          7.400   4/12/2012     CHF    37.60
BANK JULIUS BAER         11.000    4/5/2012     CHF    68.65
BANK JULIUS BAER          9.500    4/5/2012     CHF    64.30
BANK JULIUS BAER          9.300    4/5/2012     CHF    62.40
BANK JULIUS BAER          8.300    4/5/2012     CHF    74.75
BANK JULIUS BAER          6.600    4/5/2012     CHF    58.85
BANK JULIUS BAER         13.600   3/30/2012     EUR    65.95
BANK JULIUS BAER         12.100   3/30/2012     EUR    70.85
BANK JULIUS BAER          9.200   3/30/2012     EUR    69.70
BANK JULIUS BAER          9.200   3/30/2012     EUR    72.40
BANK JULIUS BAER          8.300   3/30/2012     EUR    72.00
BANK JULIUS BAER          7.700   3/30/2012     EUR    64.65
BANK JULIUS BAER         13.000   3/23/2012     EUR    71.70
BANK JULIUS BAER         12.500   3/23/2012     CHF    64.40
BANK JULIUS BAER          9.000   3/15/2012     EUR    73.25
BANK JULIUS BAER          7.000    3/9/2012     CHF    72.95
CLARIDEN LEU NAS          8.750   3/14/2012     USD    68.94
CLARIDEN LEU NAS          9.000   3/14/2012     EUR    71.37
CLARIDEN LEU NAS          7.000   3/14/2012     CHF    57.63
CLARIDEN LEU NAS         10.750   3/16/2012     EUR    55.59
CLARIDEN LEU NAS         12.250   5/31/2012     EUR    60.00
CLARIDEN LEU NAS         10.750   5/30/2012     CHF    67.70
CLARIDEN LEU NAS         12.750   5/24/2012     EUR    63.98
CLARIDEN LEU NAS         14.000   5/23/2012     EUR    22.91
CLARIDEN LEU NAS         13.000   5/23/2012     CHF    22.72
CLARIDEN LEU NAS         12.000   5/18/2012     EUR    66.90
CLARIDEN LEU NAS         10.600   5/18/2012     CHF    65.78
CLARIDEN LEU NAS         10.550   5/16/2012     EUR    63.21
CLARIDEN LEU NAS         12.000   5/11/2012     EUR    64.28
CLARIDEN LEU NAS         10.750   5/11/2012     CHF    66.24
CLARIDEN LEU NAS         10.750    5/9/2012     CHF    72.87
CLARIDEN LEU NAS          9.000    5/9/2012     EUR    69.33
CLARIDEN LEU NAS          7.300    5/9/2012     CHF    63.45
CLARIDEN LEU NAS         10.250    5/4/2012     CHF    62.15
CLARIDEN LEU NAS          9.500    5/3/2012     CHF    63.35
CLARIDEN LEU NAS          8.250    5/3/2012     GBP    74.38
CLARIDEN LEU NAS         11.000    5/2/2012     CHF    64.68
CLARIDEN LEU NAS         10.500    5/2/2012     EUR    70.32
CLARIDEN LEU NAS          9.500    5/2/2012     EUR    67.92
CLARIDEN LEU NAS         13.000   4/27/2012     CHF    21.29
CLARIDEN LEU NAS         12.400   4/27/2012     EUR    73.56
CLARIDEN LEU NAS          9.000   4/27/2012     USD    20.26
CLARIDEN LEU NAS          9.000   4/27/2012     USD    70.36
CLARIDEN LEU NAS          8.500   4/27/2012     USD    75.31
CLARIDEN LEU NAS         11.250   4/26/2012     USD    71.23
CLARIDEN LEU NAS         10.000   4/26/2012     CHF    71.58
CLARIDEN LEU NAS          9.000   4/19/2012     CHF    66.65
CLARIDEN LEU NAS         15.250   3/28/2012     EUR    54.26
CLARIDEN LEU NAS         13.500    4/4/2012     CHF    18.83
CLARIDEN LEU NAS          7.700    4/5/2012     CHF    39.46
CLARIDEN LEU NAS         10.250   3/14/2012     USD    67.63
CLARIDEN LEU NAS          8.250    4/4/2012     CHF    62.73
CLARIDEN LEU NAS          8.500    4/5/2012     CHF    60.32
CLARIDEN LEU NAS         12.500   3/14/2012     USD    63.47
CLARIDEN LEU NAS          9.650   4/13/2012     CHF    37.46
CLARIDEN LEU NAS          7.250   3/14/2012     CHF    67.36
CLARIDEN LEU NAS         11.250   3/21/2012     EUR    65.59
CLARIDEN LEU NAS         10.000   3/16/2012     CHF    60.73
CLARIDEN LEU NAS         12.000   3/28/2012     CHF    65.33
CLARIDEN LEU NAS          9.250   3/22/2012     CHF    63.60
CLARIDEN LEU NAS          6.500   3/21/2012     EUR    74.48
CLARIDEN LEU NAS         15.000    4/5/2012     USD    56.52
CLARIDEN LEU NAS         12.000   3/22/2012     EUR    70.10
CLARIDEN LEU NAS         10.000   4/11/2012     USD    33.65
CLARIDEN LEU NAS          9.500   4/11/2012     CHF    59.75
CLARIDEN LEU NAS         11.000   4/12/2012     EUR    54.55
CLARIDEN LEU NAS          9.500   4/12/2012     CHF    44.74
CLARIDEN LEU NAS          8.500    3/8/2012     CHF    69.97
CLARIDEN LEU NAS          0.000  10/15/2014     CHF    73.85
CLARIDEN LEU NAS          0.000   9/10/2014     CHF    72.27
CLARIDEN LEU NAS          4.500   8/13/2014     CHF    64.76
CLARIDEN LEU NAS          5.250    8/6/2014     CHF    69.43
CLARIDEN LEU NAS          0.000   6/10/2014     CHF    68.43
CLARIDEN LEU NAS          0.000   6/10/2014     CHF    73.85
CLARIDEN LEU NAS          0.000   5/26/2014     CHF    70.42
CLARIDEN LEU NAS          0.000   5/13/2014     CHF    69.15
CLARIDEN LEU NAS          0.000   2/24/2014     CHF    61.78
CLARIDEN LEU NAS          0.000   2/11/2014     CHF    61.38
CLARIDEN LEU NAS          0.000  11/26/2013     CHF    70.51
CLARIDEN LEU NAS          0.000   9/23/2013     CHF    73.09
CLARIDEN LEU NAS          3.250   9/16/2013     CHF    71.58
CLARIDEN LEU NAS          6.500   4/26/2013     CHF    66.49
CLARIDEN LEU NAS          0.000   3/25/2013     CHF    68.28
CLARIDEN LEU NAS          0.000  12/17/2012     EUR    70.00
CLARIDEN LEU NAS          0.000  12/14/2012     CHF    41.47
CLARIDEN LEU NAS          7.125  11/19/2012     CHF    67.54
CLARIDEN LEU NAS          7.250  11/16/2012     CHF    67.41
CLARIDEN LEU NAS          7.500  11/13/2012     CHF    67.68
CLARIDEN LEU NAS         10.000  10/15/2012     CHF    63.53
CLARIDEN LEU NAS          9.500  10/15/2012     CHF    63.88
CLARIDEN LEU NAS          8.500  10/15/2012     CHF    62.38
CLARIDEN LEU NAS         10.000   10/8/2012     EUR    66.00
CLARIDEN LEU NAS          7.000   10/4/2012     CHF    64.10
CLARIDEN LEU NAS         10.250   9/17/2012     CHF    63.84
CLARIDEN LEU NAS         10.000   9/11/2012     CHF    62.41
CLARIDEN LEU NAS          7.500   9/10/2012     CHF    70.23
CLARIDEN LEU NAS         12.000    9/4/2012     EUR    58.15
CLARIDEN LEU NAS          9.250    9/4/2012     CHF    59.29
CLARIDEN LEU NAS         11.750    8/8/2012     EUR    68.23
CLARIDEN LEU NAS         11.000    8/2/2012     USD    72.87
CLARIDEN LEU NAS         10.500    8/2/2012     EUR    65.41
CLARIDEN LEU NAS          8.750   7/26/2012     CHF    74.89
CLARIDEN LEU NAS          9.000   7/19/2012     CHF    74.58
CLARIDEN LEU NAS         10.500   7/12/2012     CHF    74.00
CLARIDEN LEU NAS         12.500   7/11/2012     EUR    74.93
CLARIDEN LEU NAS         10.500    7/4/2012     EUR    73.82
CLARIDEN LEU NAS         15.500   6/29/2012     EUR    64.16
CLARIDEN LEU NAS         11.250   6/22/2012     CHF    65.78
CLARIDEN LEU NAS         10.000   6/22/2012     CHF    71.83
CLARIDEN LEU NAS         10.500   6/21/2012     EUR    72.14
CLARIDEN LEU NAS         10.000   6/21/2012     EUR    67.50
CLARIDEN LEU NAS          9.000   6/21/2012     CHF    70.92
CLARIDEN LEU NAS         10.250   6/20/2012     SEK    73.54
CLARIDEN LEU NAS          3.550   6/20/2012     CHF    54.08
CLARIDEN LEU NAS         12.000   6/14/2012     CHF    40.79
CLARIDEN LEU NAS          9.000   6/14/2012     CHF    68.04
CLARIDEN LEU NAS         13.500    6/8/2012     EUR    68.17
CLARIDEN LEU NAS          8.500    6/8/2012     CHF    67.95
CLARIDEN LEU NAS         13.250    6/1/2012     USD    24.37
CLARIDEN LEU NAS         12.500    6/1/2012     CHF    24.34
CRED SUIS NY              8.000   1/25/2013     USD    48.69
CREDIT SUISSE LD          4.000  12/10/2012     EUR    45.80
SARASIN CI LTD           10.500   4/26/2012     CHF    61.65
SARASIN CI LTD            8.500   4/26/2012     CHF    58.69
SARASIN CI LTD           10.200   3/30/2012     CHF    63.06
SARASIN CI LTD            7.000   5/24/2012     CHF    64.00
SARASIN CI LTD            8.600   5/16/2012     CHF    74.77
SARASIN CI LTD           12.500   5/11/2012     CHF    63.36
SARASIN CI LTD           11.000    5/9/2012     CHF    63.60
SARASIN CI LTD           10.080    5/4/2012     CHF    43.85
SARASIN CI LTD           11.000   4/26/2012     CHF    63.25
SARASIN CI LTD            8.000    9/3/2012     CHF    44.64
SARASIN CI LTD           10.000   3/16/2012     CHF    55.96
SARASIN CI LTD           12.000   6/27/2012     CHF    48.12
SARASIN CI LTD            5.538   6/18/2012     CHF    64.63
SARASIN/GUERNSEY          7.200   7/16/2012     CHF    58.06
SARASIN/GUERNSEY         10.000   8/10/2012     EUR    66.28
SARASIN/GUERNSEY         12.100   7/12/2012     CHF    74.01
UBS AG                    7.560   6/25/2012     EUR    73.98
UBS AG                   14.540   6/22/2012     EUR    74.57
UBS AG                   15.000    6/6/2012     CHF    72.35
UBS AG                   17.720    6/4/2012     EUR    64.57
UBS AG                   10.470    6/4/2012     EUR    74.66
UBS AG                    9.820    6/4/2012     EUR    74.73
UBS AG                   13.700   5/23/2012     USD    13.57
UBS AG                   13.300   5/23/2012     USD     3.76
UBS AG                   15.150   5/11/2012     EUR    57.68
UBS AG                   13.150   5/11/2012     EUR    62.27
UBS AG                   12.900   5/11/2012     EUR    52.88
UBS AG                   11.240   5/11/2012     EUR    64.17
UBS AG                   10.940   5/11/2012     EUR    54.72
UBS AG                   10.060   5/11/2012     EUR    66.07
UBS AG                    9.880   5/11/2012     EUR    57.31
UBS AG                    9.170   5/11/2012     EUR    70.79
UBS AG                   15.610   6/22/2012     EUR    73.51
UBS AG                    9.110   5/11/2012     EUR    69.87
UBS AG                    6.870   5/11/2012     EUR    60.94
UBS AG                    6.600   5/11/2012     USD    65.75
UBS AG                    6.550   5/11/2012     EUR    72.67
UBS AG                   15.000    5/3/2012     EUR    57.05
UBS AG                    8.500    5/3/2012     CHF    62.60
UBS AG                    7.500    5/3/2012     EUR    71.80
UBS AG                   11.930   4/20/2012     CHF    43.10
UBS AG                    8.000   4/20/2012     CHF    60.55
UBS AG                   10.780   4/19/2012     CHF    59.95
UBS AG                   10.100   4/19/2012     CHF    66.44
UBS AG                    7.910   4/19/2012     CHF    66.21
UBS AG                    7.810   4/19/2012     CHF    57.00
UBS AG                   10.290   4/16/2012     CHF    68.85
UBS AG                    9.050   4/16/2012     CHF    54.98
UBS AG                    9.170   5/11/2012     EUR    70.79
UBS AG                   18.790   3/26/2012     EUR    45.53
UBS AG                   18.370   3/26/2012     EUR    63.74
UBS AG                   18.020   3/26/2012     EUR    58.97
UBS AG                   17.240   3/26/2012     EUR    48.32
UBS AG                   17.220   3/26/2012     EUR    31.50
UBS AG                   16.960   3/26/2012     EUR    67.32
UBS AG                   16.610   3/26/2012     EUR    49.54
UBS AG                   16.550   3/26/2012     EUR    32.35
UBS AG                   15.980   3/26/2012     EUR    50.82
UBS AG                   15.880   3/26/2012     EUR    33.24
UBS AG                   15.870   3/26/2012     EUR    69.38
UBS AG                   15.600   3/26/2012     EUR    65.81
UBS AG                   15.540   3/26/2012     EUR    71.41
UBS AG                   15.460   3/26/2012     EUR    62.96
UBS AG                   15.350   3/26/2012     EUR    52.17
UBS AG                    8.020   4/16/2012     CHF    69.74
UBS AG                   15.050   3/26/2012     EUR    71.94
UBS AG                   15.010   3/26/2012     EUR    74.84
UBS AG                   14.810   3/26/2012     EUR    55.67
UBS AG                   14.720   3/26/2012     EUR    53.60
UBS AG                   14.550   3/26/2012     EUR    35.20
UBS AG                   14.240   3/26/2012     EUR    74.67
UBS AG                   14.180   3/26/2012     EUR    65.34
UBS AG                   14.130   3/26/2012     EUR    72.83
UBS AG                   14.120   3/26/2012     EUR    75.97
UBS AG                   14.100   3/26/2012     EUR    55.11
UBS AG                   13.980   3/26/2012     EUR    71.66
UBS AG                   13.910   3/26/2012     EUR    36.28
UBS AG                   13.730   3/26/2012     EUR    57.45
UBS AG                   13.490   3/26/2012     EUR    66.59
UBS AG                   13.470   3/26/2012     EUR    56.72
UBS AG                   15.210   3/26/2012     EUR    34.20
UBS AG                   13.280   3/26/2012     EUR    66.59
UBS AG                   13.270   3/26/2012     EUR    37.42
UBS AG                   13.130   3/26/2012     EUR    66.58
UBS AG                   12.940   3/26/2012     EUR    66.58
UBS AG                   12.910   3/26/2012     EUR    67.92
UBS AG                   12.850   3/26/2012     EUR    58.41
UBS AG                   12.720   3/26/2012     EUR    66.57
UBS AG                   12.660   3/26/2012     EUR    59.32
UBS AG                   12.640   3/26/2012     EUR    38.65
UBS AG                   12.540   3/26/2012     EUR    49.49
UBS AG                   12.460   3/26/2012     EUR    66.57
UBS AG                   12.350   3/26/2012     EUR    49.48
UBS AG                   12.230   3/26/2012     EUR    60.22
UBS AG                   12.160   3/26/2012     EUR    66.56
UBS AG                   12.100   3/26/2012     EUR    49.47
UBS AG                   13.400   3/26/2012     EUR    66.59
UBS AG                   11.820   3/26/2012     EUR    66.55
UBS AG                   11.790   3/26/2012     EUR    49.46
UBS AG                   11.760   3/26/2012     EUR    71.37
UBS AG                   11.670   3/26/2012     EUR    70.71
UBS AG                   11.620   3/26/2012     EUR    62.15
UBS AG                   11.610   3/26/2012     EUR    61.33
UBS AG                   11.530   3/26/2012     EUR    71.36
UBS AG                   11.430   3/26/2012     EUR    41.36
UBS AG                   11.430   3/26/2012     EUR    66.54
UBS AG                   11.400   3/26/2012     EUR    49.46
UBS AG                   11.220   3/26/2012     EUR    71.35
UBS AG                   11.010   3/26/2012     EUR    64.20
UBS AG                   11.000   3/26/2012     EUR    66.52
UBS AG                   10.940   3/26/2012     EUR    49.45
UBS AG                   10.850   3/26/2012     EUR    42.86
UBS AG                   10.820   3/26/2012     EUR    71.34
UBS AG                   10.600   3/26/2012     EUR    63.51
UBS AG                   10.580   3/26/2012     EUR    36.24
UBS AG                   12.030   3/26/2012     EUR    39.95
UBS AG                   10.470   3/26/2012     EUR    73.75
UBS AG                   10.410   3/26/2012     EUR    49.43
UBS AG                   10.410   3/26/2012     EUR    66.39
UBS AG                   10.330   3/26/2012     EUR    71.33
UBS AG                   10.290   3/26/2012     EUR    44.49
UBS AG                   10.280   3/26/2012     EUR    36.23
UBS AG                   10.020   3/26/2012     EUR    74.18
UBS AG                   10.010   3/26/2012     EUR    66.50
UBS AG                    9.920   3/26/2012     EUR    36.22
UBS AG                    9.810   3/26/2012     EUR    68.75
UBS AG                    9.800   3/26/2012     EUR    49.41
UBS AG                    9.750   3/26/2012     EUR    46.25
UBS AG                    9.740   3/26/2012     EUR    71.31
UBS AG                    9.660   3/26/2012     EUR    74.17
UBS AG                    9.630   3/26/2012     EUR    65.83
UBS AG                    9.480   3/26/2012     EUR    36.21
UBS AG                    9.430   3/26/2012     EUR    74.16
UBS AG                    9.230   3/26/2012     EUR    48.15
UBS AG                    9.220   3/26/2012     EUR    71.28
UBS AG                    9.170   3/26/2012     EUR    74.16
UBS AG                    9.120   3/26/2012     EUR    49.39
UBS AG                   10.530   3/26/2012     EUR    66.51
UBS AG                    8.960   3/26/2012     EUR    36.20
UBS AG                    8.900   3/26/2012     EUR    69.99
UBS AG                    8.890   3/26/2012     EUR    74.15
UBS AG                    8.720   3/26/2012     EUR    50.22
UBS AG                    8.710   3/26/2012     EUR    68.33
UBS AG                    8.640   3/26/2012     EUR    69.99
UBS AG                    8.640   3/26/2012     EUR    74.00
UBS AG                    8.570   3/26/2012     EUR    74.14
UBS AG                    8.380   3/26/2012     EUR    49.37
UBS AG                    8.380   3/26/2012     EUR    36.18
UBS AG                    8.340   3/26/2012     EUR    69.98
UBS AG                    8.290   3/26/2012     EUR    71.27
UBS AG                    8.270   3/26/2012     EUR    69.67
UBS AG                    8.240   3/26/2012     EUR    52.49
UBS AG                    8.220   3/26/2012     EUR    74.13
UBS AG                    8.060   3/26/2012     EUR    36.17
UBS AG                    8.030   3/26/2012     EUR    74.17
UBS AG                    8.000   3/26/2012     EUR    69.97
UBS AG                    7.850   3/26/2012     EUR    74.12
UBS AG                    7.780   3/26/2012     EUR    74.17
UBS AG                    7.730   3/26/2012     EUR    36.16
UBS AG                    7.610   3/26/2012     EUR    69.96
UBS AG                    7.590   3/26/2012     EUR    49.35
UBS AG                    7.490   3/26/2012     EUR    74.16
UBS AG                    7.460   3/26/2012     EUR    71.25
UBS AG                    7.380   3/26/2012     EUR    36.15
UBS AG                    7.190   3/26/2012     EUR    69.95
UBS AG                    9.060   3/26/2012     EUR    71.29
UBS AG                    7.020   3/26/2012     EUR    36.14
UBS AG                   29.120   3/23/2012     EUR    67.66
UBS AG                   28.180   3/23/2012     EUR    69.75
UBS AG                   28.140   3/23/2012     EUR    68.98
UBS AG                   26.070   3/23/2012     EUR    69.95
UBS AG                   25.660   3/23/2012     EUR    71.98
UBS AG                   24.890   3/23/2012     EUR    65.99
UBS AG                   24.840   3/23/2012     EUR    71.32
UBS AG                   23.230   3/23/2012     EUR    74.36
UBS AG                   23.100   3/23/2012     EUR    72.43
UBS AG                   21.670   3/23/2012     EUR    73.84
UBS AG                   21.530   3/23/2012     EUR    68.31
UBS AG                   18.350   3/23/2012     EUR    70.81
UBS AG                   16.850   3/23/2012     EUR    72.15
UBS AG                   15.410   3/23/2012     EUR    73.54
UBS AG                   14.050   3/23/2012     EUR    74.99
UBS AG                   10.070   3/23/2012     USD    35.65
UBS AG                    8.500   3/21/2012     CHF    61.30
UBS AG                   11.330   10/1/2012     EUR    52.64
UBS AG                   11.280   10/1/2012     EUR    71.23
UBS AG                   11.160   10/1/2012     EUR    71.17
UBS AG                   11.150   10/1/2012     EUR    52.54
UBS AG                   11.010   10/1/2012     EUR    71.09
UBS AG                   10.930   10/1/2012     EUR    52.42
UBS AG                   10.840   10/1/2012     EUR    70.99
UBS AG                   10.740   10/1/2012     EUR    74.86
UBS AG                   10.650   10/1/2012     EUR    52.27
UBS AG                   10.640   10/1/2012     EUR    70.89
UBS AG                   10.620   10/1/2012     EUR    74.85
UBS AG                   10.440   10/1/2012     EUR    74.69
UBS AG                   10.410   10/1/2012     EUR    70.76
UBS AG                   10.310   10/1/2012     EUR    52.09
UBS AG                   10.220   10/1/2012     EUR    74.58
UBS AG                   10.150   10/1/2012     EUR    70.62
UBS AG                    9.930   10/1/2012     EUR    74.42
UBS AG                    9.910   10/1/2012     EUR    51.87
UBS AG                    9.900   10/1/2012     EUR    41.20
UBS AG                    9.860   10/1/2012     EUR    70.52
UBS AG                    9.580   10/1/2012     EUR    74.23
UBS AG                    9.540   10/1/2012     EUR    70.29
UBS AG                    9.440   10/1/2012     EUR    51.62
UBS AG                    9.360   10/1/2012     EUR    40.91
UBS AG                    9.200   10/1/2012     EUR    40.82
UBS AG                    9.160   10/1/2012     EUR    74.00
UBS AG                    9.060   10/1/2012     EUR    70.75
UBS AG                    8.910   10/1/2012     EUR    51.33
UBS AG                    8.910   10/1/2012     EUR    70.62
UBS AG                    8.730   10/1/2012     EUR    40.57
UBS AG                    8.720   10/1/2012     EUR    70.52
UBS AG                    8.660   10/1/2012     EUR    73.73
UBS AG                    8.500   10/1/2012     EUR    70.40
UBS AG                    8.420   10/1/2012     EUR    40.40
UBS AG                    8.310   10/1/2012     EUR    51.01
UBS AG                    8.240   10/1/2012     EUR    70.29
UBS AG                    8.090   10/1/2012     EUR    73.42
UBS AG                    8.050   10/1/2012     EUR    40.20
UBS AG                    7.940   10/1/2012     EUR    70.10
UBS AG                    7.840   10/1/2012     EUR    40.08
UBS AG                    7.660   10/1/2012     EUR    50.66
UBS AG                    7.620   10/1/2012     EUR    39.97
UBS AG                    7.610   10/1/2012     EUR    69.92
UBS AG                    7.380   10/1/2012     EUR    39.84
UBS AG                    7.240   10/1/2012     EUR    69.72
UBS AG                    7.140   10/1/2012     EUR    39.71
UBS AG                   17.090   9/28/2012     EUR    72.24
UBS AG                   15.370   9/28/2012     EUR    73.57
UBS AG                   13.700   9/28/2012     EUR    75.09
UBS AG                   10.740   9/17/2012     USD    33.58
UBS AG                    9.430   8/31/2012     USD    33.68
UBS AG                    8.650   8/29/2012     USD    33.17
UBS AG                   17.250   8/15/2012     EUR    69.25
UBS AG                    9.500   8/10/2012     USD    28.50
UBS AG                   11.000    8/2/2012     EUR    69.05
UBS AG                   10.500    8/2/2012     EUR    66.60
UBS AG                   12.040   7/31/2012     USD    18.37
UBS AG                   11.760   7/31/2012     USD    28.35
UBS AG                    8.460   7/31/2012     USD    35.27
UBS AG                   12.750   6/25/2012     EUR    50.15
UBS AG                   14.400   6/29/2012     CHF    67.85
UBS AG                   12.510   6/25/2012     EUR    69.39
UBS AG                   12.610   6/25/2012     EUR    50.07
UBS AG                   12.410   6/25/2012     EUR    50.01
UBS AG                   12.450   6/25/2012     EUR    69.37
UBS AG                   12.270   6/25/2012     EUR    69.32
UBS AG                   12.370   6/25/2012     EUR    69.35
UBS AG                   12.140   6/25/2012     EUR    69.29
UBS AG                   12.170   6/25/2012     EUR    49.95
UBS AG                   11.860   6/25/2012     EUR    49.86
UBS AG                   11.990   6/25/2012     EUR    69.25
UBS AG                   11.600   6/25/2012     EUR    69.18
UBS AG                   11.810   6/25/2012     EUR    69.20
UBS AG                   11.380   6/25/2012     EUR    73.38
UBS AG                   11.480   6/25/2012     EUR    49.76
UBS AG                   11.180   6/25/2012     EUR    73.32
UBS AG                   11.360   6/25/2012     EUR    69.07
UBS AG                   11.030   6/25/2012     EUR    49.67
UBS AG                   11.080   6/25/2012     EUR    69.00
UBS AG                   10.770   6/25/2012     EUR    68.91
UBS AG                   10.920   6/25/2012     EUR    73.25
UBS AG                   10.500   6/25/2012     EUR    49.49
UBS AG                   10.590   6/25/2012     EUR    73.16
UBS AG                   10.190   6/25/2012     EUR    73.05
UBS AG                   10.420   6/25/2012     EUR    68.81
UBS AG                    9.920   6/25/2012     EUR    38.65
UBS AG                   10.040   6/25/2012     EUR    68.71
UBS AG                    9.890   6/25/2012     EUR    68.60
UBS AG                    9.900   6/25/2012     EUR    49.32
UBS AG                    9.700   6/25/2012     EUR    72.92
UBS AG                    9.710   6/25/2012     EUR    38.59
UBS AG                    9.610   6/25/2012     EUR    74.58
UBS AG                    9.660   6/25/2012     EUR    68.56
UBS AG                    9.390   6/25/2012     EUR    68.49
UBS AG                    9.430   6/25/2012     EUR    38.52
UBS AG                    9.220   6/25/2012     EUR    49.13
UBS AG                    9.130   6/25/2012     EUR    72.76
UBS AG                    9.090   6/25/2012     EUR    38.42
UBS AG                    9.080   6/25/2012     EUR    68.40
UBS AG                    9.310   6/25/2012     EUR    74.46
UBS AG                    8.720   6/25/2012     EUR    68.30
UBS AG                    8.690   6/25/2012     EUR    38.31
UBS AG                    8.540   6/25/2012     EUR    74.28
UBS AG                    8.490   6/25/2012     EUR    48.93
UBS AG                    8.950   6/25/2012     EUR    74.39
UBS AG                    8.320   6/25/2012     EUR    68.16
UBS AG                    8.220   6/25/2012     EUR    38.18
UBS AG                    8.070   6/25/2012     EUR    74.12
UBS AG                    7.960   6/25/2012     EUR    38.11
UBS AG                    7.890   6/25/2012     EUR    68.07
UBS AG                    7.870   6/25/2012     EUR    73.51
UBS AG                    7.770   6/25/2012     EUR    72.41
UBS AG                    7.710   6/25/2012     EUR    48.74
UBS AG                    7.690   6/25/2012     EUR    38.04
UBS AG                    7.670   6/25/2012     EUR    73.46
UBS AG                    8.490   6/25/2012     EUR    72.58
UBS AG                    7.420   6/25/2012     EUR    67.92
UBS AG                    7.420   6/25/2012     EUR    73.39
UBS AG                    7.410   6/25/2012     EUR    37.96
UBS AG                    7.150   6/25/2012     EUR    73.31
UBS AG                    7.110   6/25/2012     EUR    37.88
UBS AG                    7.010   6/25/2012     EUR    73.83
UBS AG                   26.100   6/22/2012     EUR    73.53
UBS AG                   24.690   6/22/2012     EUR    73.39
UBS AG                   24.260   6/22/2012     EUR    75.06
UBS AG                   22.360   6/22/2012     EUR    75.10
UBS AG                   22.200   6/22/2012     EUR    72.94
UBS AG                   21.370   6/22/2012     EUR    68.97
UBS AG                   20.120   6/22/2012     EUR    74.70
UBS AG                   19.000   6/22/2012     EUR    70.64
UBS AG                   16.710   6/22/2012     EUR    72.49
UBS AG                    7.160   3/26/2012     EUR    74.15
UBS AG                    9.250   3/20/2012     USD    14.33
UBS AG                    8.720   3/20/2012     USD    32.17
UBS AG                    9.750   3/12/2012     CHF    74.98
UBS AG                   14.050    3/9/2012     EUR    57.60
UBS AG                   13.860    3/9/2012     EUR    51.11
UBS AG                   13.370    3/9/2012     EUR    59.34
UBS AG                   12.730    3/9/2012     EUR    57.20
UBS AG                   12.070    3/9/2012     EUR    51.70
UBS AG                   11.480    3/9/2012     EUR    41.13
UBS AG                   10.240    3/9/2012     EUR    66.57
UBS AG                    9.160    3/9/2012     EUR    64.70
UBS AG                    9.040    3/9/2012     EUR    69.87
UBS AG                    8.000    3/8/2012     EUR    60.25
UBS AG                   11.000    3/4/2014     USD    19.73
UBS AG                   13.830  12/17/2013     USD    20.11
UBS AG                   10.770    9/6/2013     USD    17.40
UBS AG                    9.650   8/23/2013     USD    33.90
UBS AG                   16.640   3/12/2013     USD    25.80
UBS AG                   11.920   3/12/2013     USD    16.25
UBS AG                    8.670   3/12/2013     USD     2.43
UBS AG                    8.000   3/12/2013     USD    60.78
UBS AG                    6.420   3/12/2013     USD    18.77
UBS AG                    6.400   3/12/2013     USD    18.77
UBS AG                    6.280   3/12/2013     USD    45.80
UBS AG                    4.280   3/12/2013     USD    12.96
UBS AG                    3.900   3/12/2013     USD    12.10
UBS AG                    8.100    3/8/2013     USD    21.33
UBS AG                   10.080   2/28/2013     USD    16.50
UBS AG                    9.590   2/28/2013     USD    35.76
UBS AG                    9.580   2/28/2013     USD    35.76
UBS AG                   14.690  12/21/2012     EUR    74.10
UBS AG                   13.600  11/12/2012     EUR    64.06
UBS AG                   13.560  11/12/2012     EUR    68.76
UBS AG                   11.660  11/12/2012     EUR    58.11
UBS AG                   11.260  11/12/2012     EUR    66.61
UBS AG                   10.930  11/12/2012     EUR    68.86
UBS AG                    9.650  11/12/2012     EUR    61.44
UBS AG                    9.470  11/12/2012     EUR    59.20
UBS AG                    8.590  11/12/2012     EUR    72.41
UBS AG                    8.370  11/12/2012     EUR    69.49
UBS AG                    8.280  11/12/2012     EUR    72.95
UBS AG                    8.280  11/12/2012     EUR    72.95
UBS AG                    6.700  11/12/2012     EUR    64.02
UBS AG                    6.070  11/12/2012     EUR    74.36
UBS AG                   13.340  10/24/2012     USD    46.27
UBS AG                   11.580   10/1/2012     EUR    71.39
UBS AG                   11.560   10/1/2012     EUR    52.76
UBS AG                   11.530   10/1/2012     EUR    71.37
UBS AG                   11.460   10/1/2012     EUR    71.33
UBS AG                   11.460   10/1/2012     EUR    52.71
UBS AG                   11.380   10/1/2012     EUR    71.29
UBS AG JERSEY             3.220   7/31/2012     EUR    39.47

UNITED KINGDOM
--------------
ALLIANC&LEIC BLD          5.875   8/14/2031     GBP    74.26
BAKKAVOR FIN 2            8.250   2/15/2018     GBP    78.25
BANK OF SCOTLAND          2.650   8/10/2026     JPY    71.30
BANK OF SCOTLAND          2.340  12/28/2026     JPY    68.02
BANK OF SCOTLAND          2.408    2/9/2027     JPY    67.23
BANK OF SCOTLAND          2.550   4/23/2037     JPY    55.42
BANK OF SCOTLAND          2.359   3/27/2029     JPY    62.42
BANK OF SCOTLAND          2.650   6/21/2026     JPY    71.61
BANK OF SCOTLAND          2.595    5/8/2037     JPY    55.48
BARCLAYS BK PLC           8.000   3/23/2012     EUR    73.04
BARCLAYS BK PLC           8.000   3/23/2012     EUR    74.36
BARCLAYS BK PLC           8.000   3/23/2012     EUR    70.52
BARCLAYS BK PLC           8.000   3/23/2012     EUR    65.54
BARCLAYS BK PLC           9.500   3/23/2012     EUR    65.24
BARCLAYS BK PLC           9.000   3/23/2012     EUR    66.78
BARCLAYS BK PLC           8.500   3/23/2012     EUR    72.26
BARCLAYS BK PLC           8.750   3/23/2012     EUR    68.38
BARCLAYS BK PLC          12.750   6/22/2012     EUR    68.58
BARCLAYS BK PLC           8.000    3/9/2012     EUR    66.61
BARCLAYS BK PLC          10.500    3/9/2012     EUR    71.86
BARCLAYS BK PLC          10.750    3/9/2012     EUR    69.79
BARCLAYS BK PLC           8.000    3/9/2012     EUR    69.97
BARCLAYS BK PLC          11.000    1/2/2013     EUR    72.25
BARCLAYS BK PLC          10.000    1/2/2013     EUR    74.09
BARCLAYS BK PLC           9.500    1/2/2013     EUR    74.73
BARCLAYS BK PLC          11.000  12/14/2012     EUR    72.69
BARCLAYS BK PLC           9.000  10/16/2012     USD    10.82
BARCLAYS BK PLC           8.500  10/16/2012     USD    11.29
BARCLAYS BK PLC          14.000   10/1/2012     USD    10.08
BARCLAYS BK PLC           9.000   10/1/2012     USD    10.03
BARCLAYS BK PLC          13.500   9/28/2012     EUR    73.48
BARCLAYS BK PLC          13.000   9/28/2012     EUR    66.36
BARCLAYS BK PLC          11.750   9/28/2012     EUR    70.78
BARCLAYS BK PLC          10.500   9/28/2012     EUR    73.02
BARCLAYS BK PLC          10.000   9/28/2012     EUR    74.23
BARCLAYS BK PLC           8.000   9/28/2012     USD    10.59
BARCLAYS BK PLC          12.000   9/14/2012     EUR    70.59
BARCLAYS BK PLC          11.000   9/14/2012     EUR    73.75
BARCLAYS BK PLC           8.000   9/11/2012     USD    10.92
BARCLAYS BK PLC           8.000   9/11/2012     USD    10.94
BARCLAYS BK PLC           9.000   8/28/2012     USD    10.41
BARCLAYS BK PLC          10.800   7/31/2012     USD    26.64
BARCLAYS BK PLC          11.500   7/27/2012     USD     9.27
BARCLAYS BK PLC           7.000   7/27/2012     USD     9.88
BARCLAYS BK PLC          10.000   7/20/2012     USD     7.62
BARCLAYS BK PLC           8.000   6/29/2012     USD     9.80
BARCLAYS BK PLC          15.000   6/22/2012     EUR    70.37
BARCLAYS BK PLC          14.500   6/22/2012     EUR    74.19
BARCLAYS BK PLC          14.500   6/22/2012     EUR    63.65
BARCLAYS BK PLC          12.250    3/9/2012     EUR    70.41
BARCLAYS BK PLC          12.250    3/9/2012     EUR    60.62
BARCLAYS BK PLC          11.000   6/22/2012     EUR    60.95
BARCLAYS BK PLC          12.500    3/9/2012     EUR    69.74
BARCLAYS BK PLC          12.720    3/9/2012     EUR    67.91
BARCLAYS BK PLC          11.500   6/22/2012     EUR    70.79
BARCLAYS BK PLC          13.500   6/22/2012     EUR    72.57
BARCLAYS BK PLC          13.750   6/22/2012     EUR    74.70
BARCLAYS BK PLC           6.000   3/23/2012     EUR    70.16
BARCLAYS BK PLC          11.750   6/22/2012     EUR    65.50
BARCLAYS BK PLC           6.000   3/23/2012     EUR    74.93
BARCLAYS BK PLC          12.000   6/22/2012     EUR    61.73
BARCLAYS BK PLC          12.000   6/22/2012     EUR    67.59
BARCLAYS BK PLC           9.750   3/23/2012     EUR    74.60
BARCLAYS BK PLC           6.750   3/23/2012     EUR    69.06
BARCLAYS BK PLC          10.750   6/22/2012     EUR    68.65
BARCLAYS BK PLC          10.750   6/22/2012     EUR    72.82
BARCLAYS BK PLC          10.500   6/22/2012     EUR    61.69
BARCLAYS BK PLC          10.500   6/22/2012     EUR    65.69
BARCLAYS BK PLC           9.750   6/22/2012     EUR    65.39
BARCLAYS BK PLC           9.500   6/22/2012     EUR    71.77
BARCLAYS BK PLC           8.750   6/22/2012     EUR    72.87
BARCLAYS BK PLC           8.500   6/22/2012     EUR    69.06
BARCLAYS BK PLC           8.250   6/22/2012     EUR    69.90
BARCLAYS BK PLC           8.000   6/22/2012     EUR    69.72
BARCLAYS BK PLC           8.000   6/22/2012     EUR    66.60
BARCLAYS BK PLC           7.250   6/22/2012     EUR    68.39
BARCLAYS BK PLC           7.000   6/22/2012     EUR    72.93
BARCLAYS BK PLC           6.000   6/22/2012     EUR    71.79
BARCLAYS BK PLC           6.000   6/22/2012     EUR    75.42
BARCLAYS BK PLC          13.000    6/8/2012     EUR    68.53
BARCLAYS BK PLC          12.500    6/8/2012     EUR    70.83
BARCLAYS BK PLC          11.750    6/8/2012     EUR    68.46
BARCLAYS BK PLC          11.090    6/8/2012     EUR    67.09
BARCLAYS BK PLC          11.000    6/8/2012     EUR    68.35
BARCLAYS BK PLC          10.780    6/8/2012     EUR    71.63
BARCLAYS BK PLC          10.520    6/8/2012     EUR    75.21
BARCLAYS BK PLC          10.500    6/8/2012     EUR    60.49
BARCLAYS BK PLC           9.750    6/8/2012     EUR    75.07
BARCLAYS BK PLC           9.250    6/8/2012     EUR    70.72
BARCLAYS BK PLC           8.500    6/8/2012     EUR    74.39
BARCLAYS BK PLC           8.250    6/8/2012     EUR    64.41
BARCLAYS BK PLC           8.000    6/8/2012     EUR    73.32
BARCLAYS BK PLC           8.000    6/8/2012     EUR    74.43
BARCLAYS BK PLC           8.000    6/8/2012     EUR    64.41
BARCLAYS BK PLC           7.000    6/8/2012     EUR    74.12
BARCLAYS BK PLC          12.950   4/20/2012     USD    23.40
BARCLAYS BK PLC          15.000   3/23/2012     EUR    68.56
BARCLAYS BK PLC          14.500   3/23/2012     EUR    72.57
BARCLAYS BK PLC          14.000   3/23/2012     EUR    63.71
BARCLAYS BK PLC          13.500   3/23/2012     EUR    58.93
BARCLAYS BK PLC          13.250   3/23/2012     EUR    71.15
BARCLAYS BK PLC          13.250   3/23/2012     EUR    73.91
BARCLAYS BK PLC          12.500   3/23/2012     EUR    65.26
BARCLAYS BK PLC          12.250   3/23/2012     EUR    68.60
BARCLAYS BK PLC          11.750   3/23/2012     EUR    64.87
BARCLAYS BK PLC          11.500   3/23/2012     EUR    63.17
BARCLAYS BK PLC          11.000   3/23/2012     EUR    60.65
BARCLAYS BK PLC          10.000   3/23/2012     EUR    73.06
BARCLAYS BK PLC          10.500   3/23/2012     EUR    61.30
BARCLAYS BK PLC          10.500   3/23/2012     EUR    67.46
BARCLAYS BK PLC          11.500   6/28/2013     EUR    70.53
BARCLAYS BK PLC          11.000   6/28/2013     EUR    72.85
BARCLAYS BK PLC          10.000   6/28/2013     EUR    74.79
BARCLAYS BK PLC          11.500   3/22/2013     EUR    69.65
BARCLAYS BK PLC          10.750   3/22/2013     EUR    72.85
BARCLAYS BK PLC          10.000   3/22/2013     EUR    74.21
BARCLAYS BK PLC          12.000    1/2/2013     EUR    68.47
BRADFORD&BIN BLD          4.910    2/1/2047     EUR    72.44
CO-OPERATIVE BNK          5.875   3/28/2033     GBP    72.42
CO-OPERATIVE BNK          5.625  11/16/2021     GBP    75.50
CO-OPERATIVE BNK          5.750   12/2/2024     GBP    72.90
EFG HELLAS PLC            6.010    1/9/2036     EUR    38.13
EFG HELLAS PLC            5.400   11/2/2047     EUR    23.13
EMPORIKI GRP FIN          5.100   12/9/2021     EUR    41.00
EMPORIKI GRP FIN          5.000   12/2/2021     EUR    40.63
EMPORIKI GRP FIN          4.350   7/22/2014     EUR    67.00
ENTERPRISE INNS           6.375   9/26/2031     GBP    64.70
ENTERPRISE INNS           6.875    5/9/2025     GBP    67.00
ENTERPRISE INNS           6.875   2/15/2021     GBP    70.67
ESSAR ENERGY              4.250    2/1/2016     USD    53.28
F&C ASSET MNGMT           6.750  12/20/2026     GBP    66.04
GALA ELECTRIC CA         11.500    6/1/2019     GBP    71.83
GALA ELECTRIC CA         11.500    6/1/2019     GBP    71.79
GS INTERNATIONAL          9.500   4/20/2012     CHF    52.60
GS INTERNATIONAL         13.000   6/28/2012     CHF    65.40
GS INTERNATIONAL          9.750   5/22/2012     CHF    57.60
HBOS PLC                  5.374   6/30/2021     EUR    72.13
HBOS PLC                  6.000   11/1/2033     USD    70.55
HBOS PLC                  6.000   11/1/2033     USD    70.55
HBOS PLC                  4.500   3/18/2030     EUR    65.17
MARSTONS ISSUER           5.641   7/15/2035     GBP    73.90
MATALAN                   9.625   3/31/2017     GBP    64.83
MATALAN                   9.625   3/31/2017     GBP    64.44
MAX PETROLEUM             6.750    9/8/2013     USD    53.31
NOMURA BANK INTL          0.800  12/21/2020     EUR    67.91
OTE PLC                   4.625   5/20/2016     EUR    65.88
PUNCH TAVERNS             7.567   4/15/2026     GBP    56.67
ROYAL BK SCOTLND          6.250  12/20/2012     EUR    53.01
ROYAL BK SCOTLND         20.000   2/23/2017     SEK    65.00
ROYAL BK SCOTLND          2.300  11/26/2024     JPY    74.79
ROYAL BK SCOTLND          6.132    4/4/2025     USD    55.05
ROYAL BK SCOTLND          5.168   6/29/2030     EUR    59.66
ROYAL BK SCOTLND          4.692    6/9/2025     EUR    66.60
SPIRIT ISSUER             5.472  12/28/2028     GBP    72.82
THOMAS COOK GR            6.750   6/22/2015     EUR    51.17
THOMAS COOK GR            7.750   6/22/2017     GBP    47.84
UNIQUE PUB FIN            5.659   6/30/2027     GBP    73.25
WESSEX WATER FIN          1.499  11/29/2058     GBP    69.91
WESSEX WATER FIN          1.369   7/31/2057     GBP    69.54


                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers'
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than US$3 per
share in public markets.  At first glance, this list may look
like the definitive compilation of stocks that are ideal to sell
short.  Don't be fooled.  Assets, for example, reported at
historical cost net of depreciation may understate the true value
of a firm's assets.  A company may establish reserves on its
balance sheet for liabilities that may never materialize.  The
prices at which equity securities trade in public market are
determined by more than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Thursday's edition of the TCR. Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com

Each Friday's edition of the TCR includes a review about a book
of interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/booksto order any title today.


                            *********


S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter-Europe is a daily newsletter co-
published by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland
USA.  Valerie U. Pascual, Marites O. Claro, Rousel Elaine T.
Fernandez, Joy A. Agravante, Ivy B. Magdadaro, Frauline S.
Abangan and Peter A. Chapman, Editors.

Copyright 2012.  All rights reserved.  ISSN 1529-2754.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.

Information contained herein is obtained from sources believed to
be reliable, but is not guaranteed.

The TCR Europe subscription rate is US$625 per half-year,
delivered via e-mail.  Additional e-mail subscriptions for
members of the same firm for the term of the initial subscription
or balance thereof are US$25 each.  For subscription information,
contact Peter Chapman at 240/629-3300.


                 * * * End of Transmission * * *