Dear [FIRSTNAME],

We are announcing a new issue. The strategy is an express certificate with the underlying RBS, ING and Citigroup.

The mechanics of an express certificate is as follows:

The investor will recieve a fixed coupon per month. The condition to recieve this coupon is that the underlying has to trade above 90%. This level is called the coupon trigger level. The observation dates are fixed on a monthly basis. If the coupon was has missed one month but trades above the coupon trigger level in the following month, than the coupon of the missing month(s) will be paid to the investor.

The express certificate has a European style barrier meaning that the barrier is only watched at the end of the term. The barrier gives the investor a limited capital protection. If the underlying trades above 75% at the end of the term, the product redeems at 100%. If the underlying remains below the barrier level you will recieve the worst performing share.

Further the product has an early redemption clause. The product redeems early when the underlying is traded above 90% at the end of each 3 months.

Please go the following article for details. 

3% per MTH express Certificate on ING, CITI and RBS

Read more... 

Best regards,

Dennis Verheul

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