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How the product works
Barrier Reverse Convertibles (BRC) reference one or more underlyings and pay out a guaranteed coupon during their term. At maturity, your invested capital is completely redeemed if none of the underlyings closes at or below the respective barrier at the expiry date (EU barrier) or has never traded at or below the respective barrier during their entire term (US barrier). If the barrier was touched and one of the underlyings closes below its price at which the product has been issued, the capital is converted into a previously defined number of shares of the underlying with the worst performance.