Product performance

The first product is a six-year principal-protected note linked to the Financial Select Sector SPDR Fund. Participation is 100% in the index and the cap is set at roughly 131%, which is equivalent to 5.55% annually compounded. The two biggest influences on the price of this product are the spot price of the index and the risk-free rate. Since the strike date, the index has reached highs of 117% and lows of 97%. The fall in the risk-free rate since the strike date has the effect of increasing the

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