Banca Akros has expanded its range of investment products by issuing and listing in direct listing on the Cert-X of the Italian Stock Exchange a new series of investment certificates dedicated to individual investors. In detail, it is about 15 new Bonus Cap Plus certificates with an unconditional half-yearly coupon of 5% and a duration of 19 months.
Rich coupon
This new series of certificates differs from traditional Bonus Caps in that they allow you to receive two unconditional coupons during the life of the certificate in June and December 2023, thus giving the investor the opportunity to collect 10% in 2023 regardless of performance recorded by the underlying share.
Bonus on expiry
This new series of investment certificates features a minimum denomination of 100 €expiring on 17/06/2024, and in addition to the payment of the 2 half-yearly coupons, it provides for the payment of a premium upon maturity, the Bonus, in the event that the value of the underlying is not lower than the Barrier Level. In the event that the underlying were to be below the Barrier Level, the investor would receive a redemption amount equal to what he would have obtained by investing directly in the underlying share, suffering a loss on the capital invested.
Characteristics of the issue
Operation
To clarify the functioning of the new Series of Bonus Cap Plus Certificates, let’s take for example the Certificate on Intesa Sanpaolo (IT0005519019). This certificate has a nominal value of 100 Eur and provides for the payment of an unconditional coupon of 5.00 Euros (5% of the nominal value) on 15/06/2023 and 15/12/2023 for each Certificate held, regardless of the value of Intesa Sanpaolo.
Expiry scenarios
At maturity there are two possible scenarios: if the Intesa Sanpaolo share on the final recognition date (10/06/2024) is quoted at a level equal to or higher than the Barrier Level (equal to 1.3062), the certificate reimburses the Bonus equal to 110 Euros (100 Euros of the Issue Price plus a further premium of 10.00 Euros) for a total return of 20%.
Otherwise, the investor receives an amount commensurate with the loss recorded by the underlying, as if he had invested in the Intesa Sanpaolo share at a price of 2.177 Euros (Initial Reference Value).
For more information, details and legal documentation, please refer to the page of the dedicated website: https://www.bancaakros.it/bonus-cap-plus-certificate-novembre-2022/