| Market Expectations |
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Underlying moving sideways or slightly rising |
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Falling volatility |
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| Properties |
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Should the underlying close below the Strike at expiry, the underlying and/or a cash amount is redeemed |
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Discount Certificates enable investors to acquire the underlying at a lower price. |
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Corresponds to a buy-write-strategy |
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Reduced loss potential compared to a direct investment |
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Larger discounts can be achieved at a greater risk if the product is based on multiple underlyings (multi-asset) |
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Any payouts attributable to the underlying are used in favour of the strategy |
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Limited profit potential (Cap) |