Reference Guide - Payoffs

From SRP API Docs

Payoffs

PF0350
2 in 1 Step Down
PF0314
4 Chance Step Down
Range Accrual structure referenced to the performance of an index with payout linked to the level of interest rate.
PF0378
9.191
PF0295
Absolute Return
PF0256
Accrual
A return based on the number of days in the period when the underlying stayed above, below or within pre-specified levels.
PF0325
Accrual, Range
PF0356
Airbag Best
PF0223
Airbag Certificate
PF0230
Alpha Certificate
PF0253
Alpha-Express Certificate
PF0343
Altip
PF0026
Altiplano
A return based on a fixed coupon provided none of the assets in the basket have fallen. If, however, a specified number of the elements in the basket did fall then the return is calculated on a dif...
PF0335
Anleihe
PF0027
Annapurna
A return based on the maximum of a coupon or a participation in the growth of the underlying. The later the assets which make up the underlying cross a predetermined barrier level the higher the pa...
PF0280
Any Return
PF0338
Averaging
PF0262
Barrier
PF0364
Barrier Change
PF0203
Barrier Discount Certificate
PF0172
Barrier Reverse Convertible
A barrier reverse convertible is a yield enhancement product which at maturity pays a coupon and the nominal invested, should the barrier never be breached. Once the barrier has been breached, the...
PF0113
Bear
A return based on a percentage of the fall in the underlying.
PF0331
Bear, Reverse Convertible
PF0025
Best of Option
A return based on the best performing asset(s) of an underlying basket. A typical example is a Himalaya product where the best performer(s) in a specified period are used to contribute to a final a...
PF0271
Bonus
PF0136
Bonus Certificate
A bonus certificate is a participation product offering unlimited participation in the underlying performance with a barrier and a conditional capital guarantee. Once the barrier is broken, the pro...
PF0324
Bonusz Certifikat
PF0304
Buffered Reverse Convertible
PF0034
Bull Bear
A return based on a percentage of the rise, as well as a percentage of the absolute value of the fall, in the underlying.
PF0152
Bull Certificate Plus
PF0258
Bull Spread
PF0178
Butterfly
PF0268
Call
PF0109
Call Overwriting
A strategy, also known as Buy-Write or Covered Call writing, which generates a return from the purchase of an underlying share or shares and the simultaneous sale of a call option or options on tha...
PF0266
Call Spread
PF0047
Callable
A product that can be redeemed early by the provider.
PF0151
Callable Range Accrual Note
PF0180
Callable Return Note
PF0150
Callable Reverse Floater Note
PF0345
Capital Proteckted with Cap
PF0344
Capital Proteckted without Cap
PF0147
Capital Protected with Cap
PF0153
Capital Protected without Cap
PF0353
Capital Protected without Cap, Collateral Secured
PF0254
Capped Bonus Certificate
PF0005
Capped Call
A return based on a fixed participation in the rise of an underlying market that is capped at a fixed return
PF0374
Capped Call,
PF0328
Capped Call, Enhanced Tracker
PF0365
Capped Call, Floater
PF0130
Capped Call/Put
A return based on the rise (call) or absolute value of the fall (put) of an underlying, subject to a maximum capital return (cap).
PF0209
Capped Outperformance Certificate
PF0127
Capped Put
A return based on a fixed participation in the absolute value of the fall of an underlying market that is capped at a fixed return
PF0159
Certificate Plus
PF0377
Certifikat
PF0051
Click Fund
These are funds using a combination of a static bond and a call mechanism to achieve portfolio protection. The ratio of risky to non-risky assets is fixed, with a regular (usually monthly) rebalanc...
PF0006
Cliquet
A return based on the sum of the rise in an underlying market over sub-periods within the product term typically with a cap on the maximum return in each sub-period
PF0320
Cliquet, Accrual
PF0326
Collateral Secured Instruments
PF0311
Corridor Certificate
PF0261
Coupon
PF0146
CPPI
Constant Proportion Portfolio Insurance (CPPI). An investment strategy whereby funds are allocated dynamically between two types of assets, a risky asset (equity, managed funds…) and a non-risky...
PF0019
Credit Default
A product linked to the risk of default (credit risk) from usually a basket of companies.
PF0332
Credit Default, Knock Out
PF0348
Daily Upside Settlement
PF0359
dDis
PF0003
Digital
A product paying a fixed return based on the performance of the underlying. Typically if it rises a high fixed return is paid, if not then a lower return is paid.
PF0316
Digital Range
PF0367
Digital, Protected Tracker
PF0140
Discount Certificate
A discount certificate is a yield enhancement product with a cap which allows the investors to acquire the underlying at a lower price (i.e. the discount). Should the underlying close below strike...
PF0102
Dispersion
A return based on the spread between the performance of different shares within a basket. For example, the return may be based on the share in the basket with the smallest absolute performance in c...
PF0014
Dividend
A return based on the actual dividend yield on the underlying index or shares
PF0272
Double Barrier
PF0265
Double Jump
PF0315
Double No-Touch
PF0341
Double Safe
PF0273
Down
PF0285
Down & Out
PF0207
Dual Currency
A return at maturity which is either in the original currency or an alternate currency at a rate of exchange fixed upfront and at the choice of the product provider.
PF0297
Dual Peso - Dollar
PF0346
Dual Peso - Euro
PF0361
Dual Range Accrual
PF0321
Duet
PF0165
Early Redemption
PF0090
Enhanced Tracker
A growth product that tracks both the rise and fall in the underlying without downside protection, typically with a high participation in the rise (often capped) of the underlying.
PF0368
Enhanced Tracker, Protected Tracker
PF0375
Enhanced Tracker, Uncapped Call
PF0177
Equity Yield Note
PF0284
Escalator
PF0333
Euro Digital
PF0319
Euro Digital Range
PF0340
Euro Digital With Knock In
PF0024
Exotic
A return based on a sophisticated combination of two or more product types. They include a wide variety of options with non-standard payout structures or other unusual features.
PF0137
Express Certificate
PF0210
Express Voncert
PF0252
Express-Bonus Certificate
PF0091
Fixed Upside
A return based on the assets of an underlying basket. Usually, an asset is considered to have a fixed growth if it hasn't fallen. Otherwise, the fall is recorded. Other structures are based on...
PF0305
Flip Flop
A return based on a fixed interest rate for an initial period, followed, at the discretion of the provider, by a variable coupon usually linked to Euribor or similar other interest rate indices. On...
PF0376
Flip Flop, Capped Call
PF0098
Floater
An income product offering a coupon that rises when the underlying reference rate rises. The coupon is calculated as a fixed rate plus the floating reference rate. Such products will only be includ...
PF0342
Floater, Uncapped Call
PF0148
Floating Note
PF0299
Floor
PF0357
Foreign Currency Coupon Stepdown
PF0362
Fx dual autocallable
PF0011
Geared Reverse Convertible
A Reverse Convertible where the participation in any falls in the underlying below a certain level are greater than 1:1
PF0244
Guarantee Bond
PF0279
Harvest
PF0355
HDune
PF0274
High-Five
PF0092
Himalaya
A return based on the performance of a basket on maturity. The performance is the arithmetic mean of the basket’s component assets at the end of each period. A pre-selected number of best-perform...
PF0354
Himalaya, Capped Call
PF0052
Investment Certificate
PF0105
Kilimanjaro
A return linked to the performance of a basket (usually a share basket) from which the lowest performing assets as well as the best performing assets have been progressively eliminated, or ignored...
PF0349
Kingcrab
PF0269
Knock In
PF0020
Knock Out
A feature whereby a product matures early if the underlying reaches a pre-defined level either anytime, or - more commonly - at a predefined date.
PF0300
Knock Out Call
PF0301
Knock Out Put
PF0369
Knock Out, Altiplano
PF0358
Knock Out, Protected Tracker
PF0323
KO Early Redemption
PF0039
Ladder
If the price of the underlying assets rises above a certain threshold level during the product term, investors are then guaranteed a minimum payout at maturity, even if the price subsequently falls...
PF0106
Leverage Long with stop loss
The product provides a return equivalent to a leveraged long position in an underlying. If the underlying falls to a specified Stop Loss level the product ends and returns the original investment l...
PF0107
Leverage Short with stop loss
The product provides a return equivalent to a leveraged short position in an underlying. If the underlying rises to a specified Stop Loss level the product ends and returns the original investment...
PF0119
Leverage with Stop Loss
The product provides a return equivalent to a leveraged long or short position in an underlying. If the underlying rises (leverage short) or falls (leverage long) to a specified Stop Loss level the...
PF0149
Lock-In
PF0352
Long Short Spread
PF0008
Lookback
A payoff in which the start level (strike) of the underlying is taken as its lowest (or less frequently, highest) level recorded during a specified period at the start of the term or where the fina...
PF0351
Multiple Jump Digital Barrier
PF0031
Napoleon
A product paying a fixed coupon plus the worst of the performance of a basket of underlying shares or indices.
PF0294
No touch
PF0275
One Touch
PF0145
Others
PF0337
Outperformance
PF0318
Outperformance Bonus Certificate
PF0138
Outperformance Certificate
PF0291
Palladium
PF0029
Podium
A return based on a series of coupons. The value of each coupon is determined by the number of assets (usually stocks) which meet certain performance criteria. The coupons are rolled up and paid ou...
PF0155
Podium Note
PF0373
Podium, Worst of Option
PF0016
Portfolio Insurance
A return based on the performance of an active trading strategy that allocates funds dynamically between the underlying assets and a lower risk asset such as cash or bonds
PF0114
Power Option
A return based on a variable participation in the rise or fall of an underlying, where the participation rate increases alongside the rise or fall in the underlying. Examples of such products inclu...
PF0303
Power Reverse Dual Currency
A dual currency product for which the return at maturity is either in the original currency or an alternate currency at a rate of exchange fixed upfront and at the choice of the product provider. I...
PF0002
Precipice Bond
A return on an Income product in which a small fall in the underlying can result in a large reduction on the capital return.
PF0103
Profiled
A return based on the performance of different baskets, each linked to the same underlyings but in varying weights within each basket.
PF0282
Protect
PF0012
Protected Tracker
A Growth product that provides a return linked to both the rise and fall in the underlying but typically with a fixed return of capital for a limited fall in the underlying
PF0370
Protected Tracker, Uncapped Call
PF0302
Put Spread
PF0099
Putable
A product that can be redeemed early by the investor.
PF0028
Rainbow
A return based on the performance of a basket whose best performing assets are weighted more heavily than those which perform less well. The underlying is typically a basket of sector or regional i...
PF0330
Rainbow, Enhanced Tracker
PF0093
Range
A return based on the underlying remaining within a fixed range
PF0308
Range Accrual
PF0171
Range Note
PF0292
Rebate
PF0327
Reference Bond
PF0278
Reset
PF0281
Reverse
PF0233
Reverse Bonus Certificate
PF0009
Reverse Convertible
A product, usually with a regular income or with a rolled-up coupon being offered at maturity, where the return of capital is at risk if the final underlying level is either below its initial level...
PF0329
Reverse Convertible, Bear
PF0372
Reverse Convertible, Worst of Option
PF0096
Reverse Floater
An income product offering a coupon that rises when the underlying reference rate falls. The coupon is calculated as a fixed rate minus the floating reference rate. Often a non-negative clause is a...
PF0360
Reverse Stepdown
PF0339
Safezone
PF0143
Share Bond
PF0334
Shark Certificate
PF0306
Shark Fin
A product paying a minimum return at maturity plus a participation in the rise of the underlying. However if an upper barrier level is breached at any time during the investment period then the ret...
PF0317
Snowball
A return based on a series of coupons dependent on the performance of an underlying. If a coupon is not attributed in a given period, then that missed coupon and any subsequently missed coupon will...
PF0260
Spread
PF0101
Spread Option
A return based on the widening of the performance between equities.
PF0232
Sprint Certificate
PF0366
Standby ELS
PF0094
Steepener
A return based on the widening on the curve between long-term rates and short-term rates.
PF0264
Step Down
PF0263
Step Up
PF0322
Stop Loss
PF0276
Target Redemption
PF0154
Target Redemption Note
PF0095
Target Return
A product whereby the product matures early if the sum of the coupons reaches a pre-defined level.
PF0380
Tracker
A product that provides 1:1 exposure to the performance of the underlying in rising as well as falling markets with no capital protection and according to a predefined multiplier. While upside pote...
PF0238
Tree
A series of returns attributed over several sub-periods, each return being subject to a set increase (if a condition is met) or decrease (if a condition is not met) compared to the return attribute...
PF0231
Turbo
PF0204
Twin-Win Certificate
PF0259
Two Way
PF0363
Two Wins Stepdown
PF0004
Uncapped Call
A return based on a fixed participation in the rise of an underlying market that is uncapped
PF0125
Uncapped Put
A return based on a fixed participation in the absolute value of the fall of an underlying market that is uncapped
PF0286
Unknown
PF0277
Up & Down
PF0267
Up & Out
PF0270
Upside
PF0288
Variable Annuity
A life insurance or pension-wrapped product linked to a range of actively-managed funds and offering various guarantees for example, a minimum guarantee on the portfolio value at a future date, gua...
PF0336
Variable Knock In
PF0010
Volatility Swap
A derivative contract referenced to the actual historic volatility of a reference share or index.
PF0287
Wedding Cake
PF0040
Whale
A return based on a fixed participation in the rise of the underlying, averaged by the final level of the underlying as opposed to the initial level, used in the corresponding standard call option.
PF0007
Worst of Option
A return based on the worst performing share or index in a basket
PF0371
Worst of Option, Digital