This structure is designed for investors who are bearish about the bond market. Investors are offered exposure to the bond market via the underlying index: the Société Générale SGI Bond 5-year Eur Index.
The product offers full capital protection at maturity and 150% participation in any index decline. That is, the investor takes a short position in the index, earning a return (uncapped) when the index falls. It has a term of three years and eleven months.
The capital protection element is backe