What is an Investment Certificate?
Investment Certificates are derivative financial instruments that replicate the performance of one or more underlyings.
This investment certificate, issued by Leonteq, replicates the performance of BPER Banca, Nexi, Pfizer and STMicroelectronics NV.
This research outlines and describes the characteristics of this financial product.
Key features
| Issue price | EUR 750 |
| Issue date | 5 February 2024 |
| Maturity | 5 February 2029 |
| Coupon yield | 5% |
| Capital barrier | 65% |
| Trigger coupon | 65% |
| Interest valuation dates | Trigger coupon | Coupon rate |
| 26 April 2024 | 65% | 1,25% |
| 26 July 2024 | 65% | 1,25% |
| 28 October 2024 | 65% | 1,25% |
| 27 January 2025 | 65% | 1,25% |
| 28 April 2025 | 65% | 1,25% |
| 28 July 2025 | 65% | 1,25% |
| 27 October 2025 | 65% | 1,25% |
| 26 January 2026 | 65% | 1,25% |
| 27 April 2026 | 65% | 1,25% |
| 27 July 2026 | 65% | 1,25% |
| 26 October 2026 | 65% | 1,25% |
| 26 January 2027 | 65% | 1,25% |
| 26 April 2027 | 65% | 1,25% |
| 26 July 2027 | 65% | 1,25% |
| 26 October 2027 | 65% | 1,25% |
| 26 January 2028 | 65% | 1,25% |
| 26 April 2028 | 65% | 1,25% |
| 26 July 2028 | 65% | 1,25% |
| 26 October 2028 | 65% | 1,25% |
| 29 January 2029 | 65% | 1,25% |
| Underlyings |
| BPER Banca |
| Nexi |
| Pfizer |
| STMicroelectronics NV |
How does it work?
Provided none of a barrier event, a nominal call event, an optional early settlement event or any other settlement or purchase or cancellation of the securities has occurred, a cash amount per calculation Amount in the Settlement Currency determined by the Determination Agent in accordance with the following:
if:
- FP ≥ Capital barrier percentage,
then:
- 100% × Calculation amount
Otherwise:
- (FP/SPP) x Calculation amount
- “FP” = Final Performance (in respect of the worst performing underlying asset as of the final valuation date, the final valuation price divided by the initial price)
- “SPP” = Strike Price Percentage (100%)
Advantages
- Yield Linearity: This investment certificate’s yield follows linearly the underlying’s worst-of performance.
- Memory effect: In case the underlying’s worst-of performance goes below coupon barrier’s level, the coupon would be evaluated during the next evaluation date.
- Low strike softcallable: The Issuer has the right, but not the obligation to call all products for Early Redemption on the respective Early Redemption Date.
- Quanto protection: This investment certificate is protected from the exchange rate risk.
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BPER Banca
| Strike Price | EUR 22,74 |
| Barrier level | EUR 2,1808 |
| Coupon level | EUR 2,1808 |
Tweets from BPER Banca
Nexi
| Strike Price | EUR 7,144 |
| Barrier level | EUR 4,6436 |
| Coupon level | EUR 4,6436 |
Tweets from Nexi
Pfizer
| Strike Price | USD 27,08 |
| Barrier level | USD 17,602 |
| Coupon level | USD 17,602 |
Tweets from Pfizer
STMicroelectronics NV
| Strike Price | EUR 40,915 |
| Barrier level | EUR 26,5948 |
| Coupon level | EUR 26,5948 |
Tweets from STMicroelectronics
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