Tracker Certificate

This type belongs to the category of structured products with participation.
The income and loss on the certificate depend completely on the changes of the underlying asset price. Tracker certificate can be both of bull and bear type. The first one is oriented toward the growth of the underlying asset, the second – on its fall. The advantage of this certificate is the potential of the unlimited income, the disadvantage – lack of protection from the unfavourable changes of the underlying asset price. Its usual underlying asset is an index of shares (including foreign ones), which saves investor’s money, since there’s no need to buy shares of this index separately.