ASIA PACIFIC

Gungin Securities distributed 固定利付コーラブル債/ M20300530 in Japan. The product is linked to the interest rates with a seven-year tenor. It offers fixed annual income of one percent, payable every six months. Barclays (the issuer) has the option to call the product on any semi-annual coupon payment date.

HSBC Bank issued 年人民币产品004款第1期/CNY Note S1 in China. The 1.5-year structured deposit is tied to SPDR Gold Shares, an exchange-traded fund managed and marketed by State Street Global Advisors. If, at any time throughout the tenor the price of the ETF is at or above 111% or at or below 89% of its initial level, the product offers 100% capital return plus a coupon of 1.33% pa. Otherwise, the product returns 100% of the nominal invested, plus 100% of the absolute value of the rise or fall in the ETF.

Goldman Sachs International was the derivatives manufacturer for Shinhan ELS 24498, a three-year autocall tied to the shares of Hyundai Mobis and KB Financial Group, which was distributed in South Korea via Shinhan Investment. The product has a step-down autocall barrier which starts at 85% for the first three semesters, and subsequently decreases to 80% and 75% for semester four and five, respectively. At maturity, the product offers 100% of capital return plus a fixed coupon of 21.6% if both shares close at or above 55% their initial price. Otherwise, the investor participates 1:1 in the worst performing share.