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Yield Enhancement

Coupon opportunities: Exploiting volatilities

Wednesday, 28 July 2021 Reading time : 3 minutes

Highly volatile stocks such as those of vaccine manufacturers Biontech, Moderna, Novavax and Curevac offer high return potential despite low market volatility. This is because high volatility results in higher option premiums due to the greater risk - which in turn lead to attractive coupons. Sectors with shorter innovation cycles and frequent technological leaps often have higher volatilities. This also applies to the automotive and energy production sectors, especially since electric mobility has become the focus of manufacturers.

For barrier reverse convertibles this means: High coupons with low barriers.


Barrier Reverse Convertible on Biontech, Moderna, Novavax and Curevac (USD/CHF)

  • 30%* / 29.25%* Coupon p.a.
  • Defensive barrier at 51.50%*
  • 12 months maturity
  • Subscription period until 02.08.2021
  • Termsheet USD
  • Termsheet CHF

Barrier Reverse Convertible on Tesla, Nio and Plug Power (USD/CHF)

  • 20%* / 19%* Coupon p.a.
  • Defensive barrier at 50%*
  • 12 months maturity
  • Subscription period until 03.08.2021
  • Termsheet USD
  • Termsheet CHF

Callable Barrier Reverse Convertible on Ballard Power, Plug Power and PowerCell (CHF)

  • 20.50%* Coupon p.a.
  • Defensive Barrier at 52%*
  • 12 months maturity
  • Subscription period until 05.08.2021
  • Termsheet
*indicative

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