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Banca Akros new series of Equity Premium

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Banca Akros new series of Equity Premium

Banca Akros (Banco BPM Group) has issued and listed in direct listing on Cert-X of Borsa Italiana a new series of Investment Certificates intended for “self directed investors”: these are 16 Equity Fixed Premium Certificates with Unconditional Monthly Premiums and a duration of 2 years.

This issue is part of the issue and listing program of Investment Certificates offerti in Public Offer of Banca Akros and complete the range of investment solutions that the Investment Banking of the Banco BPM Group offers on the market.

The main features

The new tranche of Investment Certificate is characterized by a minimum denomination of 100 euro, expiring on May 15, 2025 and corresponds 24 Monthly Unconditional Coupons from 0.57% (6.36% pa) to 0.93% (11.16% pa), i.e. premiums that are paid regardless of the value of the underlying financial asset.

At maturity it is sufficient that the value of the underlying is not below the Barrier Level so that the investor receives a refund equal to the Issue price plus the last unconditional premium. Should the value of the underlying be below the Barrier Level, the premium would in any case be paid together with a liquidation amount equivalent to that which the investor would have obtained if he had invested directly in the underlying financial asset.

In other words, against a possible capital loss if the underlying matures below the Barrier, this issue ensures the investor a continuous coupon flow of an interesting amount.

An example, the Certificate on Intesa Sanpaolo

To clarify the functioning of the new Series of Equity Fixed Premiums, take for example the Certificate on Intesa Sanpaolo (ISIN IT0005546244).

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The Certificate has a nominal value of 100 euros and provides for the payment of 24 unconditional monthly coupons equal to 0.77 euro.

They are on expiration two possible scenarios:

  1. If the Intesa Sanpaolo share on the final recognition date (08/05/2025) is listed at a level equal to or higher than the Barrier Level (equal to 1.6996) the Certificate repays the Issue Price equal to 100 Eur plus the last prize of 0.77 Euros;
  2. 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 the price of 2.428 Euros (Initial Reference Value).

For more information, details and legal documentation, please refer to the dedicated website page: EQUITY FIXED PREMIUM CERTIFICATES – MAY 2023 | Akros Bank

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