February 14, 1990
TO: MEMBERS - ONE PER COMPLEX NO. 6-90
RE: PRICING OF HIGH YIELD BONDS
__________________________________________________________
In view of recent developments affecting the market for
high yield bonds, the Institute has contacted several sources of
high yield bond prices to ascertain their ability to serve mutual
fund customers.
We have obtained informal assurances from four pricing
agents (S&P, Merrill, Interactive & Mellon Investdata) that
they will attempt to assist Institute members on an ad hoc
basis to the extent of their capacity and to the extent they
cover particular issues for which members may need pricing.
The procedure will be for the mutual fund to call a contact
person at the pricing agent and arrange to FAX the fund's
portfolio. They will get back ASAP with information on which
securities they can price. Contacts and telephone numbers:
S&P: Merrill:
Charles Wright Ron Ciesla: (212) 449-0317
John Lynch Emilio Cristofich: (212) 449-7205
Doug Wallace John Condon: (212) 449-7207
(212) 208-8844
FAX: (212) 208-8526 FAX: (212) 449-9533
issues priced - 1,600 issues priced -1,700
Interactive: Mellon Investdata:
Harry Freeze: (212) 306-6704 Neil Edelstein
Rich Birnbaum
(212) 766-2714
FAX: (212) 306-6545 FAX: (212) 619-2024
(6733)
issues priced - 1,100 issues priced - 600
Donald O'Connor
Vice President - Operations