The 10.25% US Technology Plus Reverse Convertible Bond refers to the shares Apple, Microsoft and NVIDIA and offers an annual fixed interest rate of 10.25%. The redemption depends on the performance of the underlying shares. If these are above the barrier of 60% at the end of term, redemption is 100 %. If at least one of the 3 shares is quoted at/below the barrier at the end of term, the share with the worst performance is delivered. The value of the shares delivered will be significantly lower than the nominal amount of the reverse convertible bond.

The payout profile at the end of term is already fixed when the certificate is issued. It is suitable for investors who expect shares to slightly fall/move sideways.