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Just 10 days later, as 2006 was drawing to a close, the value of the equity certificates fell back to 1 euro each, according to company filings.
ADDING to the mystery, the repayment was made using a peculiar transaction involving the redemption of "convertible preferred equity certificates" that TIM Hellas had issued.
With trading activity ebbing, E*Trade has turned to direct marketing to sell home equity loans and certificates of deposit to its base of brokerage customers.
TIM Hellas classified the certificates as equity.
Also referred to as "shares" or "equity," a stock is a certificate that gives the holder part-ownership of a company.
Some offer promotional rates on certificates of deposit or home equity loans.
West Bank, which is based in Des Moines and has 10 branches in the area, recently acquired a local asset manager, began offering additional types of home equity loans and raised introductory rates on certificates of deposit.
Those who withdraw their home equity should consider putting the cash into a certificate of deposit, a savings account or a money-market account, Mr. Ben-Ami said.
Another batch of can't-lose stock investments came in 1992, when commercial banks sold equity-linked, principal-protected certificates of deposit.
These so-called PET bonds (preferred equity traded bonds) are actually corporate-backed trust certificates issued by Lehman Brothers and trade under the ticker symbol CDC.
The company filed a restated certificate of Incorporation authorizing $100M in new equity funding on May 18, according to the Prime Unicorn Index.
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