A protected note that is embedded with a series of multiple barrier options. This structure is meant to potentially provide the holder with high annual coupons. If the underlying stock price has not dropped, in each year, below its initial value, a very high coupon will be paid (e.g., 10%). Otherwise, the coupon increasingly deteriorates towards zero, depending on the extent of price drop through the multiple barriers (downside thresholds).
October 11, 2024
