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1310 Outperformance Certificates

Product type number as specified by the Swiss Structured Products Association (SSPA): 1310

Please consult the termsheet and the accompanying issue prospectus for information on the exact product functionality, product details and risks.

Market expectations

  • Rising underlying
  • Rising volatility

Characteristics

  • Unlimited participation in the performance of the underlying.
  • Higher participation in the positive price performance from the strike price (outperformance).
  • The product reflects the performance of the underlying below the strike price 1:1.
  • The risk corresponds to that of a direct investment.
  • The income accruing on the underlying is used for strategy purposes.

Advantages

  • Participation in the positive performance of the underlying is unlimited and disproportionately high.

Disadvantages

  • The price tracks that of the underlying.
  • The risk of loss corresponds to that of a direct investment in the underlying.

Repayment terms

  • If the price of the underlying is higher than the strike price upon expiry, the nominal amount plus the positive performance of the underlying multiplied by the participation rate is paid out.
  • If the price of the underlying is lower than the strike price on expiry, the number of underlyings specified at the start is delivered for each nominal amount and/or a cash settlement is paid out.

Pay-off diagram upon expiry

1310 Pay-off

Examples upon expiry

Product & scenarios
  Scenario 1 Scenario 2 Scenario 3
Description Rising underlying Stagnating underlying Falling underlying
Underlying value share X share X share X
Term 2 years 2 years 2 years
Issue price CHF 100 CHF 100 CHF 100
Capital employed CHF 10'000 (100 certificates x CHF 100) CHF 10'000 (100 certificates x CHF 100) CHF 10'000 (100 certificates x CHF 100)
Participation 120% 120% 120%
Share X at initial fixing CHF 100 CHF 100 CHF 100
Share X at maturity CHF 120 CHF 100 CHF 80
Performance share X 20% 0% -20%
Payoff
  Scenario 1 Scenario 2 Scenario 3
Calculation (120% * 20% * 10'000) + 10'000 10'000 100 certificates * 80 (equivalent value)
Redemption CHF 12'400 CHF 10'000 CHF 8'000
Profit / Loss 24% 0% -20%
Taxes
Swiss income tax Predominantly one-off interest payments (IUP)
Swiss withholding tax No
Swiss stamp tax Yes (if physical delivery / term > 1 year)
EU tax on interest No
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