UniCedit is marketing among German investors the HVB Garant Cap Anleihe 10/2025 , an eight-year structured note linked to the S&P Global Water Index. The product is in subscription until September 29 and is intended for investors with a medium-term outlook. At maturity, the Garant Cap Anleihe promises 100% capital protection and 80% participation in the performance of the index, where the latter is defined as the ratio between the average index levels over the predefined monthly observation

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