The USD 5.3% Apple Express certificate combines annual fixed interest rates of 5.3% during the term with the possibility for an early redemption. The share of the American technology group Apple Inc. serves as underlying for the investment product without capital protection. The Express Certificate offers an opportunity of solid return for those investors who expect the share to quote at or above its current level within the forthcoming three years.
The certificate has a minimum term of1year and a maximum term of 3 years. If the closing price of the Apple Inc. share quotes at or above its termination level (equal to the share’s closing price at the initial valuation date) at one of the annual valuation dates, (early) redemption is effected analogue to the predefined termination price of 100% of the nominal value.
If the share quotes below its termination level at the annual valuation date, the term extends by another year (up to a maximum of three years). The fixed interest rate of 5.3% is paid out during the term (equals annual USD 53 per nominal amount).
If the certificate is not redeemed in the first two years and provided that the underlying quotes below the termination level at the third and final valuation date, an additional safety mechanism applies: in case the closing price of the Apple Inc. share quotes above the barrier of 60% at the final valuation date, redemption is effected at 100% of the nominal value. This means investors obtain the nominal value of USD 1,000 at maturity.
If the barrier is touched or undercut at the final valuation date, physical delivery applies. The investor receives shares of Apple Inc. in the amount predefined at the initial valuation date (nominal value/starting value). The difference to the next whole number is paid out.
For any additional information you may require do not hesitate to contact us on +43151520484.
The Structured Products Team of Raiffeisen Centrobank
The product described herein is subject to and governed by the Base Prospectus (including all supplements and amendments thereto) approved by the Austrian Financial Market Authority (FMA). The Base Prospectus has been deposited at the Oesterreichische Kontrollbank AG, published at www.rcb.at/securitiesprospectus and contains the risks and terms and conditions of the product.
Additional information may also be obtained from the key information document of the product published at www.rcb.at. Raiffeisen Centrobank AG is subject to supervision by the FMA and the Austrian National Bank as well as the European Central Bank within the Single Supervisory Mechanism (Council Regulation (EU) No 1024/2013).