Coupon payment

The structured product has 4 coupon periods per year. Each of these periods begins and ends on a specific date - the observation date. During this period, the conditions for the payment of interest, which are called coupons, are assessed.

In this product, the coupon is guaranteed - this means that the coupon is paid regardless of whether the conditions are met.

Product redemption scenarios

The structured product can be redeemed either on the established date or prematurely, subject to certain conditions.

Early redemption (autocall):

If on one of the observation dates all shares (Observation 2) included in the structured product are above the autocall level, the product is redeemed early.
In this case, you receive 100% of the invested capital plus a coupon.

Repayment on time (at the end of the period):

If on the final observation date all shares are above the redemption barrier (white line), but below the autocall level (dashed line), you receive 100% of the invested capital plus a coupon.
If the value of at least one asset (red line) falls below the redemption barrier (white line), the structured product is redeemed on time, the coupon on the observation date is paid out. You receive an amount equal to the ratio of the current price of the lowest asset to the initial price of this asset, multiplied by the face value of the investment.

Calculation examples

Early redemption at autocall trigger:

If on one of the observation dates all shares are above the autocall level, you receive 100% of the invested capital plus a coupon.

Repayment on time - all shares are above the redemption barrier:

You have invested $1000 in a product with a redemption barrier of 75%.

On the last observation date, one of the shares is worth $76 (from the original price of $100).

The amount of the final payout will be $1000, because the price of the cheapest share is higher than 75% of its original cost.

Repayment on time - at least one share is below the redemption barrier:

If the value of one of the assets falls below the redemption barrier (white line), you will receive part of your funds calculated using the formula:

Initial capital * Current price of the most depreciated asset/Initial price of the most depreciated asset.

You invested $1000 in a structured product with a repayment barrier and a 75% coupon. On the last observation date, the stock with the worst dynamics is worth $74, while its initial cost was $100. Thus, the sum of the final payout will be ($74/$100)*$1000 = $740.

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