Glossary

Convertible Certificate (Exchangeable Certificates)

This type belongs to the category of structured products with capital protection.
It is guaranteed that the investor will be paid the face value on the maturity date. The investor has a chance to earn an unlimited income if the underlying asset price goes higher than the starting level. If the price of the underlying asset at the time of expiration of the structured certificate is higher than the original one, the certificate will be converted into the underlying asset.
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