Fortis offers gold protection in Turkey
The 13-month trade (an Asian call) will pay 90% participation in the performance of the price of gold. The initial value of the underlying is calculated as the average of the first three daily fixing prices while the final level is calculated as the average of 13 monthly fixings. If at maturity, the gold price is below its initial value, capital is returned. The trade is quantoed and therefore no exchange rate risk is borne by the investor and exchange rate differences between the Turkish lira
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