Patents by Inventor John D. Finnerty

John D. Finnerty 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).

  • Patent number: 4839804
    Abstract: A method and apparatus are provided to insure a means of purchasing a floating rate zero coupon note that is designed to fund a certain future liability of uncertain value and thereby defease fully its future cost. The method is a one-year renewable term insurance program that fully funds the purchase of a certain floating rate zero coupon note upon the occurrence of some catastrophic event, such as the death of the insured. The system projects the expected death benefit payment and then calculates the annual insurance premium based on the expected death benefit payment, type of policy, and personal and risk characteristics of the insured.
    Type: Grant
    Filed: December 30, 1986
    Date of Patent: June 13, 1989
    Assignee: College Savings Bank
    Inventors: Peter A. Roberts, John D. Finnerty
  • Patent number: 4752877
    Abstract: A method and apparatus are provided to fund a certain future liability of uncertain value and thereby defease fully its future cost. The method is an insurance investment plan which can be implemented using a floating rate zero coupon note obligation the interest rate on which varies automatically with the rate of inflation or the cost of some specified service or commodity which gives rise to the future liability, and the interest payments on which are automatically reinvested. The system projects the expected future cost of the liability based on a projected escalation rate associated with a certain specified index and based also on when the liability is expected to come due. It then calculates the present value sale price on the floating rate zero coupon note by discounting the expected cost at maturity at a rate that represents the insurer's projected reinvestment yield net of an insurance risk premium.
    Type: Grant
    Filed: April 9, 1986
    Date of Patent: June 21, 1988
    Assignee: College Savings Bank
    Inventors: Peter A. Roberts, John D. Finnerty
  • Patent number: 4739478
    Abstract: Methods and apparatus for restructuring one or more debt obligations issued in the form of interest-bearing bonds into a serial issue of zero coupon bonds. The data processing system evaluates the cash flows and present value of an existing bond, then creates a serial issue of zero coupon bonds which provides pretax cash flows equivalent to those of the existing bond and determines a table of call yields for the serial issue of zero coupon bonds to replace the table of call prices for the old bond. The system evaluates the after-tax cash flows, and determines the after-tax present value to the issuer of the existing bond and the serial issue of zero coupon bonds. The system periodically determines the potential savings from calling the zero coupon bond issue, or selected bonds from the series, and refinancing the debt at the prevailing interest rates.
    Type: Grant
    Filed: September 26, 1986
    Date of Patent: April 19, 1988
    Assignee: Lazard Freres & Co.
    Inventors: Peter A. Roberts, Hamish W. M. Norton, John D. Finnerty
  • Patent number: 4648038
    Abstract: Methods and apparatus for restructuring one or more debt obligations issued in the form of interest-bearing bonds into a serial issue of zero coupon bonds. The data processing system evaluates the cash flows and present value of an existing bond, then creates a serial issue of zero coupon bonds which provides pretax cash flows equivalent to those of the existing bond and determines a table of call yields for the serial issue of zero coupon bonds to replace the table of call prices for the old bond. The system evaluates the after-tax cash flows, and determines the after-tax present value to the issuer of the existing bond and the serial issue of zero coupon bonds. The system periodically determines the potential savings from calling the zero coupon bond issue, or selected bonds from the series, and refinancing the debt at the prevailing interest rates.
    Type: Grant
    Filed: November 21, 1984
    Date of Patent: March 3, 1987
    Assignee: Lazard Freres & Co.
    Inventors: Peter A. Roberts, Hamish W. M. Norton, John D. Finnerty