A 12-month structured investment designed for investors with a bearish to neutral view on the S&P/ASX 200. The product aims to deliver quarterly income with a tiered coupon structure, where coupon levels increase if the ASX200 weakens over the relevant observation period.
At maturity, investors receive 100% principal back, subject to issuer risk.
How It Works
On each relevant coupon valuation date, the closing level of the S&P/ASX 200 is compared with its entry level. The coupon payable is determined by the degree of index decline over that observation period.
Indicative Coupon Ladder
6.00% p.a. if the index is flat or higher
7.20% p.a. if the index falls 0% to 10%
8.80% p.a. if the index falls 10% to 20%
11.30% p.a. if the index falls 20% to 30%
14.00% p.a. if the index falls 30% or more
Investment Term
12 months
Reference Asset / Index
S&P/ASX 200
Income profile
Quarterly coupon observations with tiered coupon outcomes
Principal outcome
100% principal repaid at maturity, subject to issuer risk
Target market
Wholesale / sophisticated investors only
Investor Rationale
This structure may suit investors who:
have a defensive or bearish market view
want the potential to earn higher income in weaker equity markets
prefer a short investment horizon
want a product with clear and transparent payoff levels
Key Benefits
Expresses a bearish view on Australian equities
Offers enhanced income potential when the ASX200 declines
Provides a simple tiered payoff structure
Includes quarterly reset / observation mechanics
Returns full principal at maturity, subject to issuer risk
Important Risks
Investors are exposed to the credit risk of the issuer
Coupon outcomes depend on the performance of the S&P/ASX 200
This is a structured investment, not a deposit or savings product
The product may not be suitable for all investors and should be considered in light of the investor’s objectives, financial situation, and needs
