As long as the underlying never trades at or above the barrier level at any time during the lifetime of the product, you participate at 100% in the positive performance of the underlying. Therefore, if the underlying closes slightly below (without touching) the barrier level, you will achieve the maximum return.
Nur für Kunden im BC CH
Finder für strukturierte Produkte
Nur für Kunden im BC CHPM Kapitalschutz-Zertifikat mit Barriere
Kapitalschutz
Examplary Underlying: Precious Metal
In general, PM Barrier Capital Protected Certificates (Dolphin CPN) let you participate in the positive performance of an underlying, as long as no barrier event occurs. The potential rebate payment partially compensates for the risk of not benefiting from participation in the underlying in bullish (or bearish) market conditions. Additionally, this PM Barrier Capital Protected Certificate offers full or partial capital protection by the issuer/guarantor on the redemption date.
Das Auszahlungsprofil dient zu Illustrationszwecken und basiert auf der Annahme, dass keine aussergewöhnliche Beendigung, gemäss Produktdokumentation des Emittenten, stattfindet.
Hauptmerkmale eines Beispielproduktes
Currency
USD, cash settled
Term
2 years
Return
100% of positive performance of the underlying, up to the barrier of 140%, 5% Rebate in case of barrier event, Rebate: 5%, payable at maturity in case of a barrier event
Participation
100%
Capital
Floor at 100%
You may consider an investment in this product, if
- You are familiar with both structured products and precious metals markets
- You intend to stay invested in this product until its redemption date
- You are comfortable that the capital protection applies on the redemption date only
- You do not expect the barrier level of the underlying to be touched or breached at any time until and including the expiration date (barrier event)
- You wish to be invested in the investment currency of the product. If your reference currency is not equal to the investment currency of the product, the return may increase or decrease in reference currency terms as a result of exchange rate fluctuations.
Summary of main product-specific benefits
Summary of main product-specific risks
- Participation up to a certain barrier level
- Full capital protection on the redemption date
- Rebate payment partially compensates for the opportunity cost of not benefiting from a strong performance of the underlying
Summary of main product-specific risks
- Capital protection applies on the redemption date only
- No participation in the positive performance of the underlying in case of a barrier event
- You are fully exposed to the issuer's default risk
Scenario Analysis
Return on investment (ROI) on the redemption date
USD investment, Spot Reference 1’487 USD per 1 XAU, strike level 100%, capital protection 100%, participation 100%, barrier level 125%, rebate 5% (View: positive on XAUUSD)
| Underlying on the expiration date |
ROI (redemption) if barrier event does not occur | ROI (redemption if barrier event occurs) | |
|---|---|---|---|
| XAUUSD | Chg % | ||
| 2'081.80 | +40.00% | n.a. | 5.00% (105.00%) |
| 1’933.10 | +30.00% | n.a. | 5.00% (105.00%) |
| 1’784.40 | +20.00% | 20% (120%) | 5.00% (105.00%) |
| 1’635.70 | +10.00% | 10% (110%) | 5.00% (105.00%) |
| 1’487.00 | 0.00% | 0.00% (100%) | 5.00% (105.00%) |
| 1’338.30 | -10.00% | 0.00% (100%) | 5.00% (105.00%) |
| 1’189.60 | -20.00% | 0.00% (100%) | 5.00% (105.00%) |
| 1’040.90 | -30.00% | 0.00% (100%) | 5.00% (105.00%) |
| 892.20 | -40.00% | 0.00% (100%) | 5.00% (105.00%) |
| 743.50 | -50.00% | 0.00% (100%) | 5.00% (105.00%) |