The following analysis shows how the exact same investment would have performed if it had been repeated each day over a period of 10 years. We have used actual historical data spanning 12 years and tested 2,610 scenarios.

The Underlying Index never breached the 70% capital risk barrier at the end of the 2 year maturity. Therefore there were no cases of capital loss in the period tested. The annual coupon of 6.10% in USD or 6.80% in GBP were paid regardless of the performance of the Underlying Index, until the note reached its 2 year maturity.