EPAM Banking & Finance and Capital Markets Practice lawyers provided legal counsel, assisting in the successful completion of a unique project for registering six structured note issues. This project was implemend for the BCS Company LLC, with the first four issues successfully offered to a broad range of investors.

In April 2024, the Bank of Russia registered the final issues of structured notes developed during the project. This project is particularly notable for its structure, unique to the Russian financial market, featuring a combination of the following elements:

• The notes are a structured financial instrument, meaning the income depends on changes in specific characteristics (the price of a share predetermined by the issuer or the value of an index predetermined by the issuer);
• The notes could also be placed with individuals who are not qualified investors. Therefore, the notes placed as part of the project constitute an exception to the general rule that structured notes cannot be offered to non-sophisticated investors.

EPAM lawyers and BCS Company LLC developed innovative approaches that could serve as a basis for similar transactions in the future, ensuring the project's success. The project was managed by Counsel Vladimir Goglachev and Associate Dmitry Kabanov, under the leadership of Dmitriy Glazounov, Partner and Head of Banking & Finance and Capital Markets Practice.