A range note that pays the holder an extra coupon for each period when the underlying index moves above a specified strike level. This note can be viewed as a range note combined with a string of digital caps. Adding the digital caps will help reduce the volatility risk associated with the index (in fact, the holder, as in an ordinary note, is considered to be selling the volatility of the underlying index). Boosted range accrual notes help investors enhance their yields and provide them with protection against an upward movement of interest rates (particularly in case the cap strike coincides with the upper boundary of of range).
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