SGAM to hedge Santander’s Supersatisfaction II

The investment management arm of French bank Société Générale confirmed today it will provide a capital guarantee for the deposits – termed Supersatisfaction II – using a technique called constant proportion portfolio insurance (CPPI). The group previously hedged SCH’s first Supersatisfaction offering, which was marketed from January until March this year.

SCH began selling Supersatisfaction II to retail investors yesterday, via its extensive branch network in Spain. The bank sold €3 billion

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