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.
For clients in booking center Switzerland only
Finder for structured products
For clients in booking center Switzerland onlyEquity Barrier Capital Protected Note
Capital protection
Underlying: Equity Index
In general, Equity Barrier Capital Protected Notes (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 market conditions. Additionally, this Equity Barrier Capital Protected Certificate offers full capital protection by the issuer/guarantor on the redemption date.
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
3 years
Return
100% of positive performance of underlying up to barrier of 138%, 10% rebate in case of barrier event
Participation
100% of positive performance of underlying on expiration date (as long as no barrier event occurs)
Capital
Floor at 100% (subject to issuer risk)
You may consider an investment in this product, if
- You are familiar with both structured products and equity 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 on any exchange business day 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
- Enhanced 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 default risk of the issuer
Scenario Analysis
Return on investment (ROI) on the redemption date
Assumptions: Reference price EUR 3'295.95, strike level 100%, capital protection 100%, participation 100%, barrier level 138%, rebate 10%
| Underlying on the expiration date |
ROI (redemption) if barrier event does not occur |
ROI (redemption) if barrier event occurs |
|
|---|---|---|---|
| EUR | Chg % | ||
| 4'943.93 | +50.00% | n.a. | +10.00% (110.00%) |
| 4'614.33 | +40.00% | n.a. | +10.00% (110.00%) |
| 4'515.45 | +37.00% | 37.00% (137.00%) | +10.00% (110.00%) |
| 4'284.74 | +30.00% | 30.00% (130.00%) | +10.00% (110.00%) |
| 3'955.14 | +20.00% | 20.00% (120.00%) | +10.00% (112.00%) |
| 3'625.55 | +10.00% | 10.00% (110.00%) | +10.00% (110.00%) |
| 3'295.95 | 0.00% | 0.00% (100.00%) | +10.00% (110.00%) |
| 2'966.36 | -10.00% | 0.00% (100.00%) | +10.00% (110.00%) |
| 2'636.76 | -20.00% | 0.00% (100.00%) | +10.00% (110.00%) |
| 2'307.17 | -30.00% | 0.00% (100.00%) | +10.00% (110.00%) |