Patents by Inventor Eric Steifman
Eric Steifman has filed for patents to protect the following inventions. This listing includes patent applications that are pending as well as patents that have already been granted by the United States Patent and Trademark Office (USPTO).
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Patent number: 7987129Abstract: A convertible financial instrument provides incentives to holders to keep the instruments outstanding so that issuers maintain flexibility and control over the maturity date of the instrument and the manner in which it is settled. The instrument may provide issuers with the ability to deduct an amount for tax purposes that approximates the true economic cost of the financial instrument. The instrument may contain a provision calling for contingent payments (which may include, for example, contingent interest, preferred distributions, contingent principal, dividends, and other pay-outs) to the holder in some circumstances, which may be based on formulae calculations. For example, this may occur when the trading value of the convertible instrument exceeds a pre-determined value such as, for example, a certain percentage of the accreted value of the convertible instrument, or, for example, another circumstance that may trigger a contingent payment may be when the price of another financial instrument (e.g.Type: GrantFiled: August 12, 2002Date of Patent: July 26, 2011Assignee: Bank of America CorporationInventors: James R. Birle, Jr., David K. Dolan, Jeffrey N. Edwards, Yonathan Epelbaum, Frederick J. Fiddle, Emerson P. Jones, Stuart C. Kaperst, Todd K. Kaplan, Daniel Y. Kerstein, Dragomir K. Kolev, Richard P. Luciano, Thomas H. Patrick, Jr., Paul A. Pepe, Eric Steifman, Russell L. Stein, Brennan J. Warble, Richard J. Green, Robert A. Rudnick, Frank R. Strong
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Publication number: 20070271164Abstract: A first trust sells a credit derivative to a second trust, and in this way provides for funding of the second trust and thus provides bankruptcy protection to the second trust. The first trust sells notes linked to the credit of a sponsor. With the proceeds the first trust purchases bonds with very little risk, such as US treasury bonds. At the end of a specified period, such as five years, and in the absence of a bankruptcy of the sponsor, the first trust liquidates the bonds and redeems the notes. In the event of a bankruptcy of the sponsor, the bonds are liquidated and a predetermined portion, such as two-thirds, of the proceeds arc used to redeem the notes, while the remainder of the proceeds are transferred to a second trust pursuant to the credit derivative. The second trust funds indemnification and defense-like protection for the directors and officers of the sponsor. In the event that proceeds remain after claims are processed, the remainder is donated to a charity.Type: ApplicationFiled: October 6, 2004Publication date: November 22, 2007Applicant: Merrill Lynch & Co., Inc.Inventors: Barry Finkelstein, Brian Barrett, Steve Padovano, Linda Lowry, Marlene Debel, Eric Steifman, Thomas Visone, John Fromholtz, Russell Stein
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Patent number: 7219079Abstract: A convertible financial instrument provides incentives to holders to keep the instruments outstanding so that issuers maintain flexibility and control over the maturity date of the instrument and the manner in which it is settled. The instrument may provide issuers with the ability to deduct an amount for tax purposes that approximates the true economic cost of the financial instrument. The instrument may contain a provision calling for contingent payments (which may include, for example, contingent interest, preferred distributions, contingent principal, dividends, and other pay-outs) to the holder in some circumstances, which may be based on formulae calculations. For example, this may occur when the trading value of the convertible instrument exceeds a predetermined value such as, for example, a certain percentage of the accredited value of the convertible instrument, or, for example, another circumstance that may trigger a contingent payment may be when the price of another financial instrument (e.g.Type: GrantFiled: August 12, 2002Date of Patent: May 15, 2007Inventors: James R. Birle, Jr., David K Dolan, Jeffrey N. Edwards, Yonathan Epelbaum, Frederick J. Fiddle, Emerson P. Jones, Stuart C. Kaperst, Todd K. Kaplan, Daniel Y. Kerstein, Dragomir Kolev, Richard P. Luciano, Thomas H. Patrick, Jr., Paul A. Pepe, Eric Steifman, Russell L. Stein, Brennan J. Warble, Richard J. Green, Robert A Rudnick, Frank R Strong
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Publication number: 20050197934Abstract: A first trust sells a credit derivative to a second trust, and in this way provides for funding of the second trust and thus provides bankruptcy protection to the second trust. The first trust sells notes linked to the credit of a sponsor. With the proceeds the first trust purchases bonds with very little risk, such as US treasury bonds. At the end of a specified period, such as five years, and in the absence of a bankruptcy of the sponsor, the first trust liquidates the bonds and redeems the notes. In the event of a bankruptcy of the sponsor, the bonds are liquidated and a pre-determined portion, such as two-thirds, of the proceeds are used to redeem the notes, while the remainder of the proceeds are transferred to a second trust pursuant to the credit derivative. The second trust funds indemnification and defense-like protection for the directors and officers of the sponsor. In the event that proceeds remain after claims are processed, the remainder is donated to a charity.Type: ApplicationFiled: October 6, 2004Publication date: September 8, 2005Inventors: Barry Finkelstein, Brian Barrett, Steve Padovano, Linda Lowry, Marlene Debel, Eric Steifman, Thomas Visone, John Fromholtz, Russell Stein
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Publication number: 20050160025Abstract: A contingent convertible debt instrument contains a provision permitting conversion only if any of certain economically substantial contingencies is satisfied. For example there may be a provision that conversion is permitted only if the issuer's stock price reaches some price, defined as some predetermined price substantially higher than the conversion price, is reached. This contingent conversion trigger price may be 110% or 120% more of the conversion price. The debt instrument may be a negotiable long-term zero-coupon note, and a provision may be included that the number of underlying instruments issuable or deliverable at conversion or exchange is adjusted under certain circumstances (e.g., merger, acquisition, or formulae amounts). Corresponding methods and systems are employed for offering and servicing such financial instruments.Type: ApplicationFiled: August 12, 2002Publication date: July 21, 2005Inventors: James Birle, Jeffrey Edwards, Yonathan Epelbaum, Frederick Fiddle, Emerson Jones, Stuart Kaperst, Todd Kaplan, Daniel Kerstein, Richard Luciano, Thomas Patrick Jr, Paul Pepe, Eric Steifman, Russell Stein, Brennan Warble, Richard Green
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Publication number: 20050080706Abstract: A convertible financial instrument provides incentives to holders to keep the instruments outstanding so that issuers maintain flexibility and control over the maturity date of the instrument and the manner in which it is settled. The instrument may provide issuers with the ability to deduct an amount for tax purposes that approximates the true economic cost of the financial instrument. The instrument may contain a provision calling for contingent payments (which may include, for example, contingent interest, preferred distributions, contingent principal, dividends, and other pay-outs) to the holder in some circumstances, which may be based on formulae calculations. For example, this may occur when the trading value of the convertible instrument exceeds a predetermined value such as, for example, a certain percentage of the accreted value of the convertible instrument, or, for example, another circumstance that may trigger a contingent payment may be when the price of another financial instrument (e.g.Type: ApplicationFiled: August 12, 2002Publication date: April 14, 2005Inventors: James Birle,, David Dolan, Jeffrey Edwards, Yonathan Epelbaum, Frederick Fiddle, Emerson Jones, Stuart Kaperst, Todd Kaplan, Daniel Kerstein, Dragomir Kolev, Richard Luciano, Thomas Patrick Jr, Paul Pepe, Eric Steifman, Russell Stein, Brennan Warble, Richard Green, Robert Rudnick, Frank Strong
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Publication number: 20050055293Abstract: Systems and methods for offering and servicing financial instruments (101) creates a way for issuers to offer financial instruments (101) that are accretive to earnings regardless of the Price/Earnings ratio. Specifically, the present invention provides systems and methods for offering and servicing convertible or exchangeable contingent conversion financial instruments.Type: ApplicationFiled: August 12, 2002Publication date: March 10, 2005Inventors: James Birle, Jeffrey Edwards, Yonathan Epelbaum, Frederick Fiddle, Emerson Jones, Stuart Kaperst, Todd Kaplan, Daniel Kerstein, Richard Luciano, Thomas Patrick, Paul Pepe, Eric Steifman, Russell Stein, Brennan Warble, Richard Green
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Publication number: 20040006520Abstract: Methods and systems for offering and servicing financial instruments create a way for issuers to offer financial instruments with incentives to holders to not voluntarily convert or redeem such instruments so that issuers maintain greater flexibility and control over the maturity date of the instrument and the manner in which it is settled. Additionally, some embodiments of this invention provide issuers of convertible and exchangeable financial instruments with the ability to deduct an amount for tax purposes that approximates the true economic cost of the financial instrument.Type: ApplicationFiled: August 12, 2002Publication date: January 8, 2004Inventors: James R. Birle, David K. Dolan, Jeffrey N. Edwards, Yonathan Epelbaum, Frederick J. Fiddle, Emerson P. Jones, Stuart C. Kaperst, Todd K. Kaplan, Daniel Y. Kerstein, Dragomir K. Kolev, Richard P. Luciano, Thomas H. Patrick, Paul A. Pepe, Eric Steifman, Russell L. Stein, Brennan J. Warble, Richard J. Green
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Publication number: 20030135436Abstract: Systems and methods for offering and servicing financial instruments creates a way for issuers to offer financial instruments that are accretive to earnings regardless of the Price/Earnings ratio. Specifically, the present invention provides systems and methods for offering and servicing convertible or exchangeable contingent conversion financial instruments.Type: ApplicationFiled: August 12, 2002Publication date: July 17, 2003Inventors: James R. Birle, Jeffrey N. Edwards, Yonathan Epelbaum, Frederick J. Fiddle, Emerson P. Jones, Stuart C. Kaperst, Todd K. Kaplan, Daniel Y. Kerstein, Richard P. Luciano, Thomas H. Patrick, Paul A. Pepe, Eric Steifman, Russell L. Stein, Brennan J. Warble, Richard J. Green
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Publication number: 20030135446Abstract: A contingent convertible debt instrument contains a provision permitting conversion only if any of certain economically substantial contingencies is satisfied. For example there may be a provision that conversion is permitted only if the issuer's stock price reaches some price, defined as some predetermined price substantially higher than the conversion price, is reached. This contingent conversion trigger price may be 110% or 120% more of the conversion price. The debt instrument may be a negotiable long-term zero-coupon note, and a provision may be included that the number of underlying instruments issuable or deliverable at conversion or exchange is adjusted under certain circumstances (e.g., merger, acquisition, or formulae amounts). Corresponding methods and systems are employed for offering and servicing such financial instruments.Type: ApplicationFiled: August 12, 2002Publication date: July 17, 2003Inventors: James R. Birle, Jeffrey N. Edwards, Yonathan Epelbaum, Frederick J. Fiddle, Emerson P. Jones, Stuart C. Kaperst, Todd K. Kaplan, Daniel Y. Kerstein, Richard P. Luciano, Thomas H. Patrick, Paul A. Pepe, Eric Steifman, Russell L. Stein, Brennan J. Warble, Richard J. Green
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Publication number: 20030130941Abstract: A convertible financial instrument provides incentives to holders to keep the instruments outstanding so that issuers maintain flexibility and control over the maturity date of the instrument and the manner in which it is settled. The instrument may provide issuers with the ability to deduct an amount for tax purposes that approximates the true economic cost of the financial instrument. The instrument may contain a provision calling for contingent payments (which may include, for example, contingent interest, preferred distributions, contingent principal, dividends, and other pay-outs) to the holder in some circumstances, which may be based on formulae calculations. For example, this may occur when the trading value of the convertible instrument exceeds a pre-determined value such as, for example, a certain percentage of the accreted value of the convertible instrument, or, for example, another circumstance that may trigger a contingent payment may be when the price of another financial instrument (e.g.Type: ApplicationFiled: August 12, 2002Publication date: July 10, 2003Inventors: James R. Birle, David K. Dolan, Jeffrey N. Edwards, Yonathan Epelbaum, Frederick J. Fiddle, Emerson P. Jones, Stuart C. Kaperst, Todd K. Kaplan, Daniel Y. Kerstein, Dragomir Kolev, Richard P. Luciano, Thomas H. Patrick, Paul A. Pepe, Eric Steifman, Russell L. Stein, Brennan J. Warble, Richard J. Green, Robert Rudnick, Frank R. Strong