## Содержание

- 2. What are Structured Products Structured Product is a combination of bond + derivative It has flexibility
- 3. Derivatives An option gives its owner the right to buy or sell an underlying asset on
- 4. Some Definitions
- 5. Types of Structured Products CPPI ( Constant Proportion Portfolio Insurance) Based Structures : The client is
- 6. CPPI Constant Proportion Portfolio Insurance (CPPI) is the name given to a trading strategy that is
- 7. CPPI-Jargon Floor : Present Value of desired capital to be preserved at maturity. If the product
- 8. How CPPI operates Essentially the strategy involves continuously re-balancing the portfolio of investments during the term
- 10. Example of CPPI Initial Investment : 100 Minimum Guarantee : 80 after 5years Investment pattern if
- 11. Example of CPPI Same example if market rises and value of equity goes up from 40
- 12. Risk in CPPI-Cash Locked In the worst case scenario the market trends downwards. Then the risky
- 13. Risk in CPPI-Model Risk Another risk is known as Model risk. This is the risk that
- 14. Risk in CPPI-Trading Band Width According to the CPPI methodology, risky assets are being bought in
- 15. Gap Protection Banks that provide CPPI underwrite this so-called ‘Gap Risk’ and guarantee to stand by
- 16. The difference between CPPI and standard fixed participation methodology Unlike a standard structured product which places
- 17. Some Indian Structured Products
- 18. HSBC Capital Guard Portfolio The key features of this product are: * 100% Capital Protection Guaranteed
- 19. JM Financial’s Triple AAAce Scheme JM Financial’s Triple AAAce Scheme, will invest in equity funds for
- 20. Structured Products in Global Markets Some Examples
- 21. Exotics Exotics are exotic options which are different from the plain vanilla European and American Options.
- 22. Structured Products-Growth Protected Note Turbo Note Digital Plus Lock-in Accumulator Delta One Certificate Outperformer Sprint Best
- 23. Structured Products-Income Callable Corridor Scoop Reverse Convertible Reverse Discount FX Target Callable Stability Note Phoenix Note
- 24. Protected Note A Protected Note is a structured procuct,100% Capital Guaranteed at maturity, which allows the
- 25. Example of Protected Note Example 1: Increase of the underlying on the final observation date If
- 26. Turbo Note A Turbo Note is a structured product,100% Capital Guaranteed at maturity, which allows the
- 27. Turbo Note Advantages 100% capital protection The product provides higher participation in the increase of an
- 28. Example of Turbo Note Participation : 100% of increase of the underlying Barrier : 130% Example
- 29. Digital Plus A Digital Plus is a structured product ,100% capital guaranteed at maturity, which allows
- 30. Digital Plus Advantages The investor can benefit from the entire positive performance of the underlying A
- 31. Example of Digital Plus Maturity 2years Participation 100% of the increase of underlying Digital Bonus Level
- 32. Lock-in Accumulator A lock-in Accumulator is a structured product, 100% capital guaranteed , which allows the
- 33. Lock-in Accumulator Advantages The capital is 100% guaranteed at maturity The investor can benefit from a
- 34. Example of Lock-in Accumulator Maturity 18 months Observations : Monthly Monthly Cap on Upside : 2.4%
- 35. Example of Lock-in Accumulator
- 36. Example of Lock-in Accumulator Redemption at Maturity The investor benefits from the maximum between 100% of
- 37. Delta One Certificate A Delta One Certificate I a structured product which allows the investor to
- 38. Example of Delta One Certificate Example 1: Increase of Underlying The basket closes at 120% on
- 39. Outperformer An outperformer is a structured product which allows the investor to benefit from a high
- 40. Outperformer Structure Buy a Call Zero (in order to arbitrate the dividends) Buy x% of a
- 41. Example of Outperformer Underlying XYZ Stock Maturity : 12 months Capital : Not Guaranteed Participation 130%
- 42. Sprint A sprint is is a structured product which allows the investor to benefit from a
- 43. Sprint Structure Buy a Call Zero ( In order to arbitrate the dividends) Buy 100% of
- 44. Example of Sprint Underlying XYZ Stock Maturity : 12 months Capital : Not Guaranteed Participation 200%
- 45. Best of / Worst of A Best Of/ Worst Of is a structured product which allows
- 46. Best of / Worst of Advantages The investor benefits from a high leveraged participation in the
- 47. Example of Best Of/Worst Of Underlying: ABC Stock and XYZ Stock Maturity : 12months Participation :
- 48. Callable Corridor A Callable Corridor is a structured product , 100% capital protected at maturity, which
- 49. Callable Corridor Structure Buy a strip of daily binary European Options Buy a zero coupon Sella
- 50. Example of Callable Corridor Currency USD Maturity 6years Bonus A maximum quarterly bonus of 6.5% annualised
- 51. Hw to Create Your Own Structured Product Strategy A1 Using Fixed Deposits and Equity Strategy A2
- 52. Strategy A1
- 53. Strategy A2
- 54. Strategy B
- 55. Strategy C
- 56. Strategy C Maximum Loss = Difference in the premium of Long and Short Call =415-195 =220
- 57. Strategy C
- 58. Strategy C
- 59. Strategy C Maximum Loss = Difference in the premium of Long and Short Call =415-195 =220
- 60. Risk in Structured Products Issuers Credit Risk Market Risk : The value of investment changes with
- 61. Distribution Platforms in India PMS : FMP/Insurance Direct Distribution Issuers are NBFC’s Platform providers are MF’s,
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