Sto confrontando questi 2 certificati indicati da CarloConti e Joe, dove mi ha incuriosito la faccenda dell'airbag alla scadenza, come indicato da C&D.
Sono poi andato a leggermi il KID e Termsheet e, in caso di redemption, lo scenario 1 è scritto allo stesso modo per entrambi i certificati ma C&D li indica diversamente.
Quale dovrebbe essere la formula nello scenario 1 per entrambi i cerificati?
1000*(worst/50%) ovvero 1000*(worst*2)?
CH0433743264 (C&D riporta: Effetto airbag, rimborsa (1000 - performance worst) X 2 se wo < 50%)
Dal termsheet:
Scenario 1
If the Final Fixing Level of the Underlying with the Worst Performance is at or below the respective Strike Level, the
Investor will receive a Cash Settlement in the Settlement Currency according to the follmowing formula:
Issue Price × Final Fixing Level of the Underlying with the Worst Performance / Strike Level of the Underlying with
the Worst Performance
Scenario 2
If the Final Fixing Level of the Underlying with the Worst Performance is above the respective Strike Level, the Investor
will receive a Cash Settlement in the Settlement Currency equal to:
Issue Price
CH0456758264 (C&D riporta: Se <50% Rimborso 1000 - 2X la perdita eccedente la barriera)
Dal termsheet:
Scenario 1
If the Final Fixing Level of the Underlying with the Worst Performance is at or below the respective Strike Level, the
Investor will receive a Cash Settlement in the Settlement Currency according to the following formula:
Issue Price × Final Fixing Level of the Underlying with the Worst Performance / Strike Level of the Underlying with
the Worst Performance
Scenario 2
If the Final Fixing Level of the Underlying with the Worst Performance is above the respective Strike Level, the Investor
will receive a Cash Settlement in the Settlement Currency equal to:
Issue Price
