New Global Note and New Safekeeping Structure
Issuers can choose between different legal and holding structures for international debt securities:
- New Global Note (NGN) issued in global bearer form through Clearstream Banking (Luxembourg) and Euroclear Bank.
- New Safekeeping Structure (NSS) issued in global registered form through Clearstream Banking (Luxembourg) and Euroclear Bank.
In both structures, securities are safekept by a Common Safekeeper (CSK) and serviced by a Common Service Provider (CSP) and co-exist with the Classical Global Note (CGN).