Dutch Trigger

This is a five-year kickout product linked to the AEX index that offers a potential return of 10% per annum (not compounded) if the level of the AEX on any of the five anniversaries is higher than its initial level. Returns are based on an issue price of 101%. Capital is not protected if the final level of the index is less than 50% of the strike level.

The AEX is a market value-weighted index comprising up to 25 of the most actively traded Dutch stocks listed on Euronext Amsterdam. The index is