Markit and Creditex, together with 14 major credit derivative dealers, have determined a price to facilitate the settlement of credit derivative trades referencing the subordinated debt of Landsbanki Islands hf in Europe¬ís first ever Credit Event Auctions.

At 3:45 pm GMT today, the final price for Landsbanki subordinated debt for the purpose of settling credit derivative transactions was determined to be 0.125%.

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