Vanilla, yield enhancement

Using immediate precursors of desired food aroma compounds also increased metabolite yields. For example, by applying ferulic acid to cultured Vanilla planifolia cells, vanillin concentration could be enhanced as compared to untreated cells. Vanilla concentration was also increased in green vanilla bean extracts when the cells were treated with 3-glucosidase. 

These notes accrue interest daily at an enhanced yield, provided that a particular market rate falls within a specified range. For example, when the 1-year yield on vanilla instruments is 4%, a dollar-denominated, 1-year range accrual note might accrue interest at 6% p.a. on every day that 3-month EURIBOR fixes in the range 2.5% to 3.5%, otherwise it accrues nothing that day. 

If daily fixings of 3-month EURIBOR over the next year stay in the range 2.00% to 3.50%, the investor will receive an enhanced yield of 6.75% p.a. on a structured note, this coupon being paid as a single annual payment on the maturity of the note. This compares well with the 4.50% one year rate currently available on vanilla notes of similar credit quality. 

If 3-month EURIBOR stays within range, as the investor expects, he or she will keep the premium from the DNT option, which is equivalent to 2.25% of the notional principal. Together with the 4.50% income from the vanilla note, the investor receives the enhanced yield of 6.75%. 

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