This is a six-year kickout product linked to three underlying stocks and the FTSE 100 Index offering a potential return of 12% per annum (not compounded) if all three stocks are at or above their initial strike levels at any annual observation point from the first to the fifth year. On the final observation date, the required kickout level is reduced to 75%. Capital is not protected at maturity if the final value of the FTSE 100 is below 50% of its initial level.
This type of product is known as
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