Societe Generale has expanded its range of Bonus Certificates by making 11 new ones available on the SeDeX of Borsa Italiana Recovery Bonus Cap. The new instruments allow you to take exposure on equities such as Atlantia, Banco BPM, Enel, Ferrari, Intesa Sanpaolo, Saipem, Stellantis, STMicroelectronics, Telecom Italia, Unicredit and ENI. Furthermore, they allow the investor to invest on a maturity of approximately 8 months (23 June 2022).
The certificates have conditionally protected capital (according to the Acepi classification) and allow you to benefit from the typical structure of Bonus Cap Certificates, but have a issue price below 100 euros, hence the name “Recovery”, and a maximum repayment at maturity of € 100 gross.
In the Recovery Bonus Cap certificates the barrier is American and continuous, i.e. observed with reference to any underlying price recognized during the observation period, which runs from the product issue date up to and including the final valuation date of June 16, 2022.
The expiry scenarios
Recovery Bonus Cap certificates expire two possible reimbursement scenarios. In the event that, on each trading day during the observation period, the price of the underlying has never been at or below the barrier, a default gross amount of EUR 100 per certificate is paid.
If, on the other hand, the value of the underlying identified during the observation period has been at least once equal to or lower than the barrier, a gross amount will be paid equal to the performance of the underlying multiplied by the calculation amount, up to a maximum reimbursement value equal to 100 euros gross. In this scenario it is possible to incur a partial or total loss of the invested capital.