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1330 Bonus Outperformance Certificate

Product type number as specified by the Swiss Structured Products Association (SSPA): 1330

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

Rising underlying
The underlying will not reach or go below a certain level (knock-in level/barrier) during the term

Unlimited participation in the performance of the underlying.
The minimum repayment corresponds to the bonus level (strike price) if the price of the underlying has never touched or fallen below the knock-in level.
Higher participation in the positive price performance from the strike price (outperformance).
The risk buffer means that repayment of the bonus level is also guaranteed if the performance of the underlying is slightly negative.
Several underlyings (worst of) permit higher participation or a lower barrier in exchange for greater risk.
The income accruing on the underlying is used for strategy purposes.

Participation in the positive performance of the underlying is unlimited and disproportionately high.
Due to the risk buffer, repayment of the bonus level is also guaranteed if the performance of the underlying is slightly negative (provided the price of the underlying never touches or falls below the knock-in level).

The risk of loss corresponds to that of a direct investment in the underlying.
The risk buffer ceases to apply if the underlying touches or falls below the knock-in level during the term.

If the price of the underlying has neither touched nor fallen below the knock-in level during the term:
- and is at or lower than the strike price, the repayment corresponds to the bonus level.
- and lies above the strike price upon expiry, repayment is made in the amount of the positive performance of the underlying multiplied by the participation rate.
If the price of the underlying has touched or fallen below the knock-in level during the term:
- and is at or 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.
- and lies above the strike price upon expiry, repayment is made in the amount of the positive performance of the underlying multiplied by the participation rate.

1330 Pay-off

	Scenario 1	Scenario 2	Scenario 3	Scenario 4
Description	Rising underlying	Slightly rising underlying	Slightly falling underlying	Falling underlying
Underlying value	share X	share X	share X	share X
Term	1 year	1 year	1 year	1 year
Nominal amount	CHF 100	CHF 100	CHF 100	CHF 100
Bonus level	110%	110%	110%	110%
Participation	120%	120%	120%	120%
Knock-in Level (Barrier)	80%	80%	80%	80%
Capital employed	CHF 10'000 (100 certificates)	CHF 10'000 (100 certificates)	CHF 10'000 (100 certificates)	CHF 10'000 (100 certificates)
Issue price	CHF 100	CHF 100	CHF 100	CHF 100
Share X at initial fixing	CHF 100	CHF 100	CHF 100	CHF 100
Share X at maturity	CHF 120	CHF 102	CHF 90	CHF 80
Barrier breached?	No	Yes	No	Yes
Performance share X	20%	2%	-10%	-20%

	Scenario 1	Scenario 2	Scenario 3	Scenario 4 (physical delivery)
Calculation	[100% + (20% * 120%)] * 10'000	[100% + (2% * 120%)] * 10'000	110% * 10'000	100 certificates * 80 (equivalent value)
Redemption	CHF 12'400	CHF 12'240	CHF 11'000	CHF 8'000
Profit / Loss	20%	2%	10%	-20%

Swiss income tax	Term <1 year: free of tax Term >1 year: Predominantly one-off interest payments (IUP)
Swiss withholding tax	No
Swiss stamp tax	Yes
EU tax on interest	No