This 6 year note pays a potential coupon (with memory) of 7% annually based on the performance of 3 major global indices: UK, Eurozone and Australia. If no index has fallen below the following coupon trigger level the coupon willl be paid:
- GBP and USD versions – 75%
- EUR version – 85%
This note also has the potential to mature early from semester 2, if all indices are at or above their initial level.
The note carries a 65% protection barrier. The bank is A rated by S&P.