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Robust economic data: Investing in leading indices

Tuesday, 2 March 2021 Reading time : 3 minutes

Despite the ongoing pandemic and the associated restrictions, economic data in most regions of the world are better than expected. This fact gives an indication that economic players have adapted to the pandemic.

Indices as a proxy for global economy
In the S&P500, which includes the 500 largest public companies in the US, cyclical stocks are relatively heavily weighted. So if an economic recovery can be assumed - as is the case in the USA - such indices are well suited to benefit from it. In the European index EURO STOXX 50, cyclical stocks such as those from the technology and industrial goods sectors are also more heavily weighted than countercyclical companies. In Germany in particular, the economy appears to be recovering relatively quickly. In the Swiss benchmark index SMI, the largest weights are not assigned to particularly cyclical stocks, but to companies with very stable business models such as Nestlé, Novartis and Roche, which together account for over 50% of the SMI.

Callable Barrier Reverse Convertible on SMI, EURO STOXX50 and S&P500 

Callable Barrier Reverse Convertible on SMI, DAX and S&P500

  • 6.40%* coupon p.a.
  • Defensive barrier of 69.00%*
  • 18 months duration
  • Subscription period ends on 03.03.2021
  • Termsheet 

Barrier Reverse Convertible on a cyclical Basket with LafargeHolcim, ABB and SIKA 

  • 9.50%* guaranteed coupon p.a.
  • Barrier of 70.00%*
  • 12 months duration
  • Subscription period ends on 11.03.2021
  • Termsheet 

*indicative

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