EUROPE

Federal Finance Gestion launched Fee Destination 2028 in France. The five-year fund offers access to the S&P France 40 Paris-Aligned Transition ESG 5% Decrement Index. It is managed via a physical replication of the index by investing at least 90% of its assets in equities of the index.

If, on the annual observation date, the index closes at or above its initial level, a memory coupon of four percent is registered for that year. At maturity, if the index performance is positive, the product offers 100% capital return, plus a coupon of four percent, plus the coupons recorded during the first four years. The maximum overall capital return is therefore 120%.

This product has obtained the ‘Towards Sustainability’ label, a quality standard to create clarity and transparency around sustainable and socially responsible which was developed in 2019 by Febelfin, the Belgian federation of the financial sector. Priips Summary Risk Indicator (SRI): two out of seven.

Meteor Asset Management collaborated with Barclays for the launch of Growth Deposit Plan June 2023 7287 in the UK. The three-year, protected Phoenix deposit is linked to the FTSE 100 Index. At maturity, the plan will pay a fixed gross interest of 22.50% if the final level of the index is at or above its opening level. The minimum investment is £5,000. The plan is available for investment by individual applicants; as Isa; by pension schemes; by trustees, companies, and partnerships; or by offshore bonds. Meteor will receive a distribution fee of up to 1.50%. Priips Summary Risk Indicator (SRI): two out of seven.

OP Yrityspankki Oyj introduced OP Säästöobligaatio

Eurooppa & Amerikka XIX/2023 in Finland. The five-year medium-term note (MTN) offers access to a basket comprising two SGX indices – iEdge ESG US SDG 40 EW Decrement 5% NTR Index and iEdge ESG Eurozone SDG 35 EW Decrement 5% NTR Index – one with a focus on highly liquid US listed companies and the other with a focus on highly liquid European companies. At maturity, the product offers minimum 100% capital return, plus 100% participation in the rise of the best performing index, capped at 30%. Priips SRI: two out of seven.

KBC issued KBC-Life MI Global BestOf 100-1 in Belgium. The eight-year investment fund is linked to Class 23 insurance KBC-Life Multinvest. It offers 100% participation in a basket of 30 global stocks, floored at an overall minimum capital return of 116% and capped at an overall maximum capital return of 140%. The final basket level is calculated at the average of monthly readings taken during the last year of the investment. The product has an entry fee of 2.50% and the annual ongoing charges (including management fee) are estimated at 1.14%, which amounts to 11.70% over the total investment term. Priips SRI: two out of seven.

Garantum distributed Aktieindexobligation USA värdebolag vs tillväxtbolag 3 år nr 4820 in Sweden. The investment is 100% capital protected by Credit Suisse and targeted at investors who believe value companies will outperform growth companies in the next three years. At maturity, if the Russell 1000 Value Index has outperformed the Russell 1000 Growth Index, the investor participates 130% in the positive difference, subject to six-month backend averaging. The distribution fee is 3.60% and the product is listed at Nasdaq Stockholm. Priips SRI: two out of seven.

Wilgenhaege marketed Double Digit: Besi 15% in the Netherlands. The five-year Athena autocall offers access to the share of BE Semiconductor Industries (Besi), a Dutch multinational company that designs and manufacturers semiconductor equipment. The product is subject to annual early redemption, providing the share closes at or above its initial level on any validation date. In that case, 100% of the nominal invested is returned, plus a coupon of 15% for each year that has passed. At maturity, if the share closes at or above its initial level, the product pays a coupon of 75%. The European barrier for soft capital protection is 70%. Société Générale is the issuer. Priips SRI: six out of seven.

Abanca sold Garantizado 12 Meses in Spain. The one-year, 100% capital protected structured deposit is linked to the share of Bayer AG. At maturity, if the share closes at or above its initial level, the product offers a coupon of 3.60%. Otherwise, the coupon is set at 3.20%. An entry cost of 1.65% applies. This product is not listed. Priips SRI: one out of seven.

Alior Bank distributed Apollon Oxygen in Poland. The fiveyear autocall is issued via Société Générale. It offers access to the SPDR S&P Oil & Gas Exploration & Production ETF, which seeks to provide exposure the oil and gas exploration and production segment of the S&P Total Market Index (TMI). The product is subject to semi-annual early redemption if on any of the observation dates the ETF closes at or above its initial level. In that case, it offers 100% capital return, plus a coupon of 8.5% for each semester elapsed. At maturity, if the ETF has not fallen below 70% of its starting price, the product offers 185% capital return. Otherwise, the investor participates 1:1 in the fall. The product is listed in Warsaw. Priips SRI: six out of seven.

MIDDLE EAST & AFRICA

Absa issued issue 64 of its Twin Fixed Return and Growth Protector in South Africa. Twenty-five percent of the investment

Asia Pacific: top 10 issuer group by issuance - 20 Mar to 18 Jun 2023*

HSBC

DBS

Morgan Stanley

UBS

Kiatnakin Phatra Securities

Bank of China

China Merchants Bank

Siam Commercial Bank

KB Financial Group

Korea Investment

*Excluding flow- and leverage products amount will be allocated to a fixed income investment, returning 21% after one year. A further 25% will be allocated to a three-year fixed income investment (42% return) and with the remaining 50%, the investor participates 150% in the upside performance of the MSCI World Business Cycle Clock Factor Select Index, subject to six-months backend averaging. A financial adviser fee of 2.30% and a administration fee of 1.25% is integrated in the structure of the investment. The product is available via the Itransact investment platform.

North America

J.P. Morgan collected US$114m with Digital Equity Notes (48133VBR0) on the S&P 500 in the US. At maturity, the product offers a capital return of 116.8%, providing the final index level is at or above 90% of its initial level. Otherwise, the capital return is 100% minus 1.1111% for every 1% fall in excess of the initial 10% fall. There is an underwriting commission of 1.19% and the estimated value is set at US$980.80 per US$1,000 principal amount.

Another US product that sold well, with sales of US$108m, was Goldman’s Buffer Autocallable Gears (36265J490), also on the S&P 500. At maturity, if the index does not fall below 80% of its initial level, the product offers a capital return of 100% plus 171.3% of the rise in the index over the investment period.