Merrill Lynch launches temperature linked certificate

The certificate is 100% capital protected and offers a temperature-contingent coupon of up to 16% annually. "This product enables investors to get easy access to this alternative 'asset class',” says Jens Boening, head of EMEA weather derivatives structuring, Merrill Lynch. “At the same time, it enables agricultural, commercial and retail clients in Italy, who have recently suffered from rising temperatures, to mitigate the risk of above average heat."

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