Product description

Worst of Kick-In GOAL (1230)

Description

In contrast to the Kick-In GOAL, the Worst of Kick-In GOAL links a bond with an option on several underlyings and offers the investor a higher coupon. The kick-in level is defined separately for each underlying on issue. Provided that the price of none of the underlyings touches the kick-in level that has been set, on expiry you get back 100% of the capital you have invested. If the price of one or more underlyings hits or dips below the kick-in level at any time before expiry, all capital protection is lost. If the underlyings close above the issue price on expiry, you get back 100% of the capital you have invested. If the price of one or more underlyings is at or below the strike price (or level), payment is made in the form of physical delivery of equities in accordance with a quantity defined in advance, and you are given the underlying that has posted the worst performance (hence the name "Worst of"). The coupon is paid out under all scenarios.

Market Expectation

Flat, slightly rising or slightly falling market trend.

Profit

Maximum return (coupon amount) if no underlying touches or falls below kick-in level at any time prior to expiry or if all underlyings close above strike on expiry.

Risk

Delivery of worst-performing underlying or cash settlement on expiry (underlying may be worth less than invested capital); loss of capital protection if any kick-in level touched.

Payout Chart

Worst of Kick-In GOAL
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