The Autocall is designed for investors having a neutral or slightly bullish view on the Underlying
An Autocall Barrier on each Observation Date that:
• Early redeems the product returning the full initial investment.
• Pays an annual remuneration per period elapsed
• A Protection Barrier at maturity.
Autocall Event
• On each Observation Date, if the Underlying is at or above the Autocall Barrier:
100% of Initial Investment + Coupon x N
Where N is the number of periods elapsed since Inception
Redemption at maturity, in case of no Autocall:
• If Underlying at or above the Autocall Barrier:
100% of Initial Investment + Coupon x N
• If Underlying at or above the Protection Barrier:
• Otherwise:
(Final level / Initial level) x Initial Investment
The illustration below have been made on a 5 year product with annual observations, assuming a 5% Coupon, an Autocall Barrier of 100%, a Protection Barrier of 60% and a Coupon Barrier of 80% over the initial level.
At year 1, the level of the underlying is below the Autocall Barrier. The product continues.
At year 2, the level of the underlying is above the Autocall Barrier. The product is early redeemed and the investor receives:
100% Initial Investment + Coupon of year 1 and Coupon of year 2 = 100% + 5% + 5% = 110%
On all the annual observations, the level of the underlying is below the Autocall Barrier. The product continues.
At maturity, the level of the underlying is below the Autocall Barrier but above the Protective Barrier. The investor receives:
100% Initial Investment
On all the annual observations, the level of the underlying is below the Autocall Barrier. The product continues.
At maturity, the level of the underlying is below the Protection Barrier. The investor receives:
(Final/initial level) x Initial Investment
The objective of these illustrations is to present the product’s mechanism. Figures and prices in these examples have an indicative value, but can in no way be considered as a guarantee of future performance and do not constitute in any manner a firm price offer.