EUSIPA DERIVATIVE MAP
Transcrição
EUSIPA DERIVATIVE MAP
12 Y based on multiple underlyings (multi-asset) Any payouts attributable to the underlying are used in favour of the strategy Limited profit potential (Cap) EUSIPA DERIVATIVE MAP EUROPE product is based on multiple underlyings (multi-asset) Any payouts attributable to the underlying are used in favour of the strategy Limited profit potential (Cap) © May 2012 EUROPEAN STRUCTURED INVESTMENT PRODUCTS ASSOCIATION Tracker Certificates (1300) Outperformance Certificates (1310) Bonus Certificates (1320) Outperformance Bonus Certificates (1330) Twin-Win Certificates (1340) Market Expectation Tracker Certificate (Bull): Rising underlying Tracker Certificate (Bear): Falling underlying Market Expectation Rising underlying Rising volatility Market Expectation Underlying moving sideways or rising Underlying will not breach Barrier during product lifetime Market Expectation Rising underlying Underlying will not breach Barrier during product lifetime Market Expectation Rising or slightly falling underlying Underlying will not breach Barrier during product lifetime AUSTRIA FRANCE GERMANY ITALY SWITZERLAND SWEDEN INVESTMENT PRODUCTS 1 ANLAGEPRODUKTE 1 PROD. D‘INVESTISSEMENT 1 ANLAGEPRODUKTE 1 PRODOTTI DI INVESTIMENTO 1 INVESTERINGSPRODUKTER 1 ANLAGEPRODUKTE 11 CAPITAL PROTECTION PRODUCTS 11 ANLAGEPRODUKTE MIT KAPITALSCHUTZ 11 11 ANLAGEPRODUKTE MIT KAPITALSCHUTZ 11 PRODOTTI A CAPITALE PROTETTO 11 KAPITALSKYDDADE PRODUKTER 11 KAPITALSCHUTZ 1100 1110 1120 1130 1140 1199 Uncapped Capital Protection Exchangeable Certificates Capped Capital Protected Capital Protection with Knock-Out Capital protection with Coupon Miscellaneous Capital Protection 12 YIELD ENHANCEMENT PRODUCTS 1200 1210 1220 1230 1240 1250 1260 1299 1200 Discount Zertifikate Discount Certificates Characteristics Barrier Discount Certificates Unlimited participation the 1220in Aktienanleihen Reverse Convertibles development of the underlying Barrier Reverse Convertibles Capped Outperformance CertificatesReflects underlying price moves 1:1 (adjusted by conversion ratio and any Capped Bonus Certificates related fees) 1260 Express Zertifikate Express Certificates Miscellaneous Yield Enhancement Risk comparable to a direct investment 1100 Equity protection senza cap Barrier 1120 Equity protection con cap Barrier 0 0 Loss ANLAGEPRODUKTE OHNE KAPITALSCHUTZ Loss 12 Loss 12 PRODUITS DE RENDEMENT 1200 Discount Strike Strike 1140 Strukturierte Anleihen 1199 Weitere Anlageprodukte mit Kapitalschutz 1199 Altri prodotti a capitale protetto lyi ng lyi ng lyi ng 12 Strike 1199 Autres produits à Capital Garanti à l’échéance Un de r Loss 1199 Weitere Anlageprodukte mit Kapitalschutz Un de r Un de r lyi ng Strike 0 lyi ng 0 Un de r 0 ANLAGEPRODUKTE OHNE KAPITALSCHUTZ 1200 Discount Zertifikate 12 Loss PRODOTTI A CAP. NON PROT. E CONDIZ. PROT. 1200 Discount 1120 1130 1140 1199 Kapitalskydd med maxnivå Kapitalskydd med knock-out Kapitalskydd med kupong Blandade Kapitalskyddade produkter 1130 Kapitalschutz-Zertifikat 1140 Kapitalschutz-Zertifikat mit Coupon 1199 Weitere Kapitalschutz-Zertifikate 12 AVKASTNINGSFÖRBÄTTRANDE INST. 12 RENDITEOPTIMIERUNG Omvänd konvertibel Autokupong/Omvänd konvertibel med barriär 1200 1210 1220 1230 Discount-Zertifikat Discount-Zertifikat mit Barriere Reverse Convertible Barrier Reverse Convertible Autocall / Expresscertifikat Blandade avkastningsförbättrande instrument 1260 Express-Zertifikat 1299 Weitere Renditeoptimierungs-Zertifikate DELTAGANDEINSTRUMENT 13 PARTIZIPATION Trackercertifikat Tillväxtcertifikat Bonuscertifikat 1300 1310 1320 1330 1340 1399 Tracker-Zertifikat Outperformance-Zertifikat Bonus-Zertifikat Bonus-Outperformance-Zertifikat Twin-Win-Zertifikat Weitere Partizipations-Zertifikate 2 HEBELPRODUKTE 1200 Maxcertifikat Characteristics Characteristics Characteristics Characteristics Unlimited participation in the Unlimited participation in the development 1220 Reverse ConvertiblesUnlimited participation in the development 1220 Aktienanleihen Unlimited participation in the development 1220 development of the underlying of the underlying of the underlying of the underlying 1230 Reverse Convertibles knock-in 1230 Disproportional participation Minimum is equal to the Strike A Bonus Certificate turns into 1240 a Tracker the Outperformance 1240 Sprint Sprint ZertifikateMinimum redemption is equal to 1240 conredemption cap (Outperformance) in a positive the Barrier is never breached Certificate after breaching the Barrier Strike if the Barrier is never breached 1250 Bonus Cappés 1250 Bonus conifcap performance of the underlying Minimum redemption is equal1260 to theExpress Strike Zertifikate Disproportional participation (Outperformance) 1260 Express Profits possible with rising and falling 1260 Reflects underlying price1299 movesAutres 1:1 produits de Rendement underlying if the Barrier is never breached in a positive performance of the underlying 1299 when below the Strike Falling underlying price converts into profit Fees generally in the form of Lower risk than a direct investment due to An Outperformance Bonus Certificate Risk comparable to a direct investment until the Barrier management fees or through the the conditional capital protection turns into an Outperformance Certificate Any payouts attributable13to thePRODUITS DE PARTICIPATION A Twin-Win Certificate turns into a Tracker retention of payouts attributable to the Larger Bonus payments or lower barriers can after breaching the Barrier PARTICIPATION PRODUCTS 13 underlying are used in favour the (1301 100%beBear) Certificate after breaching the Barrier 1300 underlying during the lifetime the achieved at a greater risk if1300 the product LowerZertifikate risk than a direct investment due Benchmark to 1300 of 1300 100% 1300 Tracker Certificates Indexof / Partizipations Zertifikate Index / Partizipations strategy Any payouts to the underlying product is based on multiple underlyings (multi-asset) conditional capital protection1310 Outperformance 1310 Outperformance Zertifikate 1310 Outperformance Certificates Outperformancethe Zertifikate senza attributable cap 1310 arecap used in favour of the strategy Any payouts attributable to the underlying 1320 Bonus 1320 Bonus Zertifikate 1320 1320 Bonus senza Bonus Certificates Bonus ZertifikateAny payouts attributable to the underlying 1320 are used in favour of the strategy are used in favour of the strategy Outperformance Bonus Certificates 1340 Twin Win 1340 Twin Win Twin-Win Certificates 1340 1399 Autres produits de Participation 1399 Weitere Anlageprodukte ohne Kapitalschutz 1399 Weitere Anlageprodukte ohne Kapitalschutz 1399 Altri prodotti a cap non protetto e condiz. prot. Miscellaneous Participation 1399 23 PRODUITS À EFFET DE LEVIER CONSTANT g lyi n de r Un de Un g rly in Strike Strike 2399 Autres produits à effet de levier constant Kn oc 23 PRODUKTE MIT KONSTANTEM HEBEL Level Loss Knock-Out Price of underlying Loss 22 Stop-Loss Market Expectation HÄVSTÅNGSINST. MED STOPP-LOSS Bull: Rising underlying 2200 Knock-Out warranter 2210 Mini Future INSTRUMENT MED KONSTANT HÄVSTÅNG ing Knock-Out Loss SUPPORTING PARTNERS ASSOCIATIONS ASSOCIATIONS SETIPA EXCHANGES & DATAPROVIDERS EXCHANGES & DATAPROVIDERS 2VDCHRGÕ$WBG@MFDÕ3Q@CDCÕ (MUDRSLDMSÕ/QNCTBSRÕ RRNBH@SHNM SETIPA SETIPA SETIPA 2VDCHRGÕ$WBG@MFDÕ3Q@CDCÕ(MUDRSLDMSÕ/QNCTBSRÕ RRNBH@SHNM 2VDCHRGÕ$WBG@MFDÕ3Q@CDCÕ (MUDRSLDMSÕ/QNCTBSRÕ RRNBH@SHNM ISSUERS ISSUERS 0 2399 Blandade instrument med konstant hävstång Un Loss Characteristics Characteristics Characteristics Small investment generating a leveraged Small investment generating a leveraged Small investment generating a EUROPEAN PRODUCT CATEGORIZATION DISCLAIMER & COPYRIGHT performance relative to the underlying performance relative to the underlying leveraged performance relative to the Characteristics Characteristicsof structured © 2012 by Eusipa. Reproduction, publication or any other use is explicitly permitted Eusipa intends to be a main supporter of the efforts for transparency and understandability and the sub-categorization according to the payoff profile of a product this solution combines the most Increased risk of total loss (limited to initial Increased risk of total loss (limited to initial underlying but only with full reference to the source and without any changes or amendments. investment a standards leveragedfor a uniform Small investment generating aimportant leveragedrequirements of all Eusipa members. Though the Eusipa categorization it is neither binding investment products. Thus,Small its members have generating agreed to set categorization. These investment) investment) risk of total loss (limited to differentiate on a first levelperformance between Investment and Leverage Products. On a second level, the for national associations nor for issuers, Eusipa will nevertheless recommend to all market participants Increased to relative Products to the underlying performance relative to the underlying Immediately expires worthless in case the Suitable short term speculation initial investment) Eusipa takes all reasonable steps to ensure thefor reliability of the published information. system consists of Capital Protected Products, Yield Enhancement Products, adapttoits model unchanged. Increased risk of total loss (limited toProducts, Participation Increased risk ofLeverage total loss (limited Barrier is breached during product lifetime Immediately worthless in caseor one of A residual value maycan be nevertheless redeemed in no way guarantee Eusipa theexpires correctness, reliability completeProducts with and without initial Knock-Out and Constant Leverage Products. With both the top level distinction investment) initial investment) Suitable for short term speculation or the barriers is breached during product following a stop loss event Suitable for short term speculation or Daily loss of time value (increases as hedging lifetime Suitable for short term speculation or hedging product expiry approaches) Small influence of volatility and small loss Limited profit potential (Cap) hedging Daily loss of time value (increases as Limited profit potential (Cap) ofcategorization time-value Continuous monitoring required Noother influence of volatility The following leading market participants have agreed to support the efforts for a european product and implement it on websites and information material. product expiry approaches) Continuous monitoring required 2VDCHRGÕ$WBG@MFD 3Q@CDCÕ(MUDRSLDMSÕ Continuous monitoring required Continuous monitoring required /QNCTBSRÕ RRNBH@SHNM Continuous monitoring required Loss 2200 Warrant mit Knock-Out Bear: Falling underlying 2210 Mini-Future Profit 2299 Blandade hävstångsinst. med stopp-loss ly r de in g Knock-Out Constant2100 Leverage Warrant Certificate (2300) 2110 Spread Warrant 2300 Bull & Bear Certifikat 0 FinancingHebel 2399 Weitere Produkte mit konstantem HÄVSTÅNGSINST. UTAN STOPP-LOSS 2199 Blandade hävstångsinst. utan stopp-loss 23 0 g lyi n Ca t 0 0 Price of Mini-Futures 2300 Faktor-Zertifikate 0 de r 2399 Weitere Produkte mit konstantem Hebel ll 2399 Miscellaneous Constant Leverage Products 2300 Leverages & Shorts Un ll Ca 2300 Faktor-Zertifikate Pu 2300 Constant Leverage Certificate ut 21 LEVERAGE WITHOUT KNOCK-OUT 2200 2210 2230 2299 22 HÄVSTÅNGSINSTRUMENT Warrants 2100 Warranter Market Expectation Market Expectation Market Expectation AVEC BARRIÈRE DÉSACTIVANTE 22 HEBELPRODUKTE MIT KNOCK-OUT PRODOTTI A LEVA CON KNOCK-OUT Mini-Future (Long): Rising underlying Underlying moving sideways Knock-Out (Call): Rising22underlying Turbos 2200 Turbo Knock-Out Produkte Mini-Future (Short): Falling underlying Falling volatility Knock-Out (Put): Falling2200 underlying Turbos illimités / infinis 2210 Mini future Stability Warrants Profit 2299 Weitere Hebelprodukte Autres produits de levierProfit avec barrière 2299 Altri prodotti aProfit mit Knock-Out leva con knock-out Knock-Out P ut t Pu Profit PRODUKTE MIT KONSTANTEM HEBEL Double Knock-Out 2100 Covered warrant 2110 Spread warrant (2230) 2199 Altri prodotti a leva senza knock-out 21 ar 23 2 PRODOTTI A LEVA PRODOTTI A LEVA SENZA KNOCK-OUT Winwincertifikat Blandade deltagandeinstrument Be Profit CONSTANT LEVERAGE PRODUCTS 2 21 Knock-Out Warrants 2100 Warrants 2100 Optionsscheine Mini-Futures 2110 Cappés & Floorés (2210) (2200) 2199 Autres prod. de levier sans barrière désactivante 2199 Weitere Hebelprodukte ohne Knock-Out O 23 HEBELPRODUKTE OHNE KNOCK-OUT k- Market Expectation 22 HEBELPRODUKTE MIT KNOCK-OUT Spread Warrant (Bull): Rising 2200 Knock-Out Produkte underlying Spread Warrant (Bear): Falling underlying 2299 Weitere Hebelprodukte mit Knock-Out HEBELPRODUKTE 21 oc Kn 2200 2210 2230 2299 Market Expectation LEVERAGE PRODUCTS WITH KNOCK-OUT Warrant (Call): Rising underlying, Knock-Out Warrants rising volatility Mini-Futures Warrant (Put): Falling underlying, Double Knock-Out Warrants rising volatility Miscellaneous Leverage with Knock-Out 2 SANS BARRIÈRE DÉSACTIVANTE rly (2110) 2199 Weitere Hebelprodukte ohne Knock-Out PROD. À EFFET DE LEVIER 21 de Spread Warrants 2100 Optionsscheine 2 Un 2100 Warrants Warrants 2110 Spread Warrants (2100) 2199 Miscellaneous Leverage without Knock-Out HEBELPRODUKTE HEBELPRODUKTE OHNE KNOCK-OUT al l 21 ut C 2 LEVERAGE PRODUCTS WITHOUT KNOCK-OUT O LEVERAGE PRODUCTS 21 k- 2 1100 Kapitalschutz-Zertifikat mit Partizipation 1110 Wandel-Zertifikat 1100 Kapitalskydd utan maxnivå Bu ll Profit 1100 Kapitalschutz Zertifikate 23 CONSTANT LEVERAGE Bu ll Profit Profit Barrier LEVERAGE PRODUCTS 22 PROD. À CAPITAL GARANTI À L‘ÉCHÉANCE 1100 Capital Garanti Un de r Profit 1100 Kapitalschutz Zertifikate 22 LEVERAGE WITH KNOCK-OUT 1300 1310 1320 1330 1340 1399 r 13 Profit a Be 13 PARTICIPATION 1 2300 Constant Leverage-Zertifikat 2099 Weitere Hebelprodukte g in rly U 14 Reference Entity Certificates: Investment products that are e nd Loss linked to a reference entity are classified in a dedicated category due to their different mechanism and risks. For detailed information please refer to the Swiss Derivative Map on svsp-verband.ch. Characteristics Small investment generating a leveraged performance relative to the underlying ness of the information published herein. The information published on the European Increased risk of total loss (limited to initial investment) Derivative Map in no way constitute a requirement, offer or recommendation to use a Suitable forinstruments short term speculation service, to purchase or sell investment or to carry out any other transaction. The leverage constant for theonly defined period (e.g.published daily) only No investment or other decisions shouldisbe taken based on information price before movements of the underlying in the same herein. Please contact your Successions investment of advisor making a decision. direction tend to have a positive effect on the performance, price movements of the underlying in opposite directions a negative effect A Stop Loss and/or an automatic reset feature prevent the value of the instrument to become negative Continuous monitoring required SETIPA 2VDCHRGÕ$WBG@MFD 3Q@CDCÕ(MUDRSLDMSÕ /QNCTBSRÕ RRNBH@SHNM 2VDCHRGÕ$WBG@MFDÕ3Q@CDCÕ (MUDRSLDMSÕ/QNCTBSRÕ RRNBH@SHNM SETIPA SETIPA SETIPA 2VDCHRGÕ$WBG@MFDÕ3Q@CDCÕ(MUDRSLDMSÕ/QNCTBSRÕ RRNBH@SHNM 2VDCHRGÕ$WBG@MFDÕ3Q@CDCÕ (MUDRSLDMSÕ/QNCTBSRÕ RRNBH@SHNM