ANNAPURNA

 

  • An Annapurna is a kind of mountain range product, which offers a return equal to the greater of a capital guarantee plus a fixed coupon and a participation in the performance of the underlying basket. The level of the fixed coupon and of the participation rate in the performance depend on if and when the worst-performing stock breaches a downside barrier. The later the breach, the higher the fixed coupon and equity participation rate.

 

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