Global depositary receipt
 |
| Docs | Prospectus, offer docs etc. Leaden, but dreary. | 5 |
| Amendability | No real need. No real capacity. | 0 |
| Collateral | Nope. | 0 |
| Transferability | In theory, negotiable. Query how much in practice. Redeemable for underlier as well, if that kind of thing floats your boat. | 5 |
| Leverage | Nope. | 0 |
| Fright-o-meter | All a bit gnab gib, really ... except issuers tend to be in banana republics and nuclear-armed kleptocracies. | 8 |
The depositary receipt may be withdrawn at any time, and the waiting period for the shares being sold and the proceeds distributed to investors may be long