Upside Participation Note with partial Principal Protection

This product is good for investors who want exposure to equity market at only limited risk.

Using the 2nd quote in the attached.

Underlying stocks: Starbucks, Alphabet Class A, Walt Disney
Upside participation rate: 147%
Tenor: 12 months
Principal protection: 90%


These are the possible senarios:

- Worst performing stock went up 10% at maturity, client will receive return of 10% x 1.47 = 14.70%
- Worst performing stock went down 20% at maturity, maximum loss to client is only 10% because principal protection is 90%.
- Worst performing stock went down 3% at maturity, loss to client is 3%.

Principal protection of 90% is only applicable at maturity.

Client will be subjected to credit risk of the issuer.

Risk-reward perceptive is very favourable to client: Downside risk is only 10%, yet upside potential is unlimited.