Bloomberg News

Mitt Romney Holds $10 Million of Structured Notes, Forbes Says

May 16, 2012

Republican presidential candidate Mitt Romney owns about $10 million of structured notes, Forbes reported today.

The former governor of Massachusetts bought products issued by Goldman Sachs Group Inc. and BNP Paribas SA (BNP), Forbes said, citing Romney’s filings with the U.S. Office of Government Ethics and discussions with Romney officials that it didn’t name.

Romney’s net wealth, which is estimated at $230 million, also includes other debt securities, an investment in a hedge fund and profits from the funds of private equity firm Bain Capital LLC, Forbes reported.

Romney’s campaign spokeswoman Andrea Saul didn’t respond to an e-mail requesting comment.

Structured notes are securities created by banks, which package debt with derivatives to offer customized bets to investors while earning fees and raising money. Derivatives are contracts whose value is derived from stocks, bonds, currencies and commodities.

To contact the reporter on this story: Alastair Marsh in London at amarsh25@bloomberg.net

To contact the editor responsible for this story: Paul Armstrong at parmstrong10@bloomberg.net


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