| Market Expectations |
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| • |
Underlying trading sideways or slightly rising |
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| • |
Underlying will not breach Barrier during product lifetime |
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| Properties |
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| • |
Should the underlying trade above the Strike on the observation date, an early redemption consisting of nominal plus an additional coupon amount is paid |
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| • |
Offers the possibility of an early redemption combined with an attractive yield opportunity |
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| • |
Lower risk than a direct investment due to the conditional capital protection |
|
| • |
Larger coupon payments or lower barriers can be achieved at a greater risk if the product is based on multiple underlyings (multi-asset) |
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| • |
Any payouts attributable to the underlying are used in favour of the strategy |
|
| • |
Limited profit potential |
