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For clients in booking center Switzerland onlyCommodity Outperformance Certificate
Examplary Underlying: Commodity
In general, Commodity Outperformance Certificates allow you to participate in the performance of the underlying at a leveraged rate. This is normally financed by a cap level, which leads to a maximum participation in the leveraged performance, however the product can also exclude the cap level under favorable market conditions.
The payout profile is for illustrative purposes only and is based on the assumption that no exceptional cancellation will occur, in accordance with the issuer’s product documentation.
Main features of a sample product
Currency
USD, Cash Settled
Term
1 year
Return
limited by the cap level, Maximum Return 145%
Participation
150%
Capital
at risk below strike 100%
You may consider an investment in this product, if
- You are familiar with both structured products and commodity markets
- You intend to be invested in this product until its redemption date
- You are comfortable being exposed to any negative performance of the underlying
- 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
- Potential for leveraged upside participation in the underlying up to the cap level on the expiration date
- Enhanced returns compared to a direct investment in positive markets
Summary of main product-specific risks
- Potential loss is equal to a loss of a direct investment in the underlying
- The return is under normal conditions limited by the cap level
- You are fully exposed to the default risk of the issuer
Scenario Analysis
Return on investment (ROI) on the redemption date
Assumptions: Underlying Brent Crude Oil, Reference price USD 64.38, strike level 100.00%, cap level 130%, upside performance participation 150%, Maximum return 145%
| Underlying on the expiration date | ROI | |
|---|---|---|
| USD | Change % | |
| 96.57 | +50.00% | +45% |
| 90.13 | +40.00% | +45% |
| 83.69 | +30.00% | +45% |
| 77.26 | +20.00% | +30% |
| 70.82 | +10.00% | +15% |
| 64.38 | 0.00% | 0.00% |
| 57.94 | -10.00% | -10.00% |
| 51.50 | -20.00% | -20.00% |
| 45.07 | -30.00% | -30.00% |
| 38.63 | -40.00% | -40.00% |
| 32.19 | -50.00% | -50.00% |
| 25.75 | -60.00% | -60.00% |
| 19.31 | -70.00% | -70.00% |
| 12.88 | -80.00% | -80.00% |
| 12.88 | -90.00% | -90.00% |
| 0 | -100.00% | -100.00% |
Scenario 1: Maximum return
Scenario 2: Leveraged and unlimited upside participation
If the underlying closes at or above the cap level on the expiration date, you will receive the maximum return
Scenario 2: Leveraged and unlimited upside participation
If the underlying closes above the strike level on the expiration date, you will benefit from a leveraged and unlimited participation in the upside performance of the underlying.
Scenario 3: Full downside risk
If the underlying closes at or below the strike level on the expiration date, you will be fully exposed to any negative performance of the underlying (unleveraged downside). In a worst case scenario this position becomes worthless and you would lose all of the invested capital.