Overview

• Ambipar-linked tranches issued through March 18, 2024 were liquidated on October 7 with a fixed payout of 6.88% of invested principal.
• Braskem-linked tranches issued through March 25, 2024 were marked on October 7 and are scheduled to settle October 10 with returns between 26.62% and 36.97%.
• XP told advisers the early-maturity clause will be enforced for all affected clients without opt-out, and it will send individualized spreadsheets detailing executed amounts.
• Investors have begun posting complaints on Reclame Aqui, and the company had not provided a public statement to the outlets reporting the decision.
• Valor cited B3 data showing a COE market stock of R$98 billion this year, with roughly R$1.1 billion in Ambipar- and R$1.1 billion in Braskem-linked notes; critics highlight low liquidity, lack of FGC coverage and complex structures.