Product Snapshot: Societe Generale hops on the EUR/USD wave

Darina Bacheva, 13 September 2017

Societe Generale has issued a Reverse Express-Zertifikat linked to the EUR/USD currency pair in Germany. The five-year long growth autocallable product will be redeemed early paying-out 100% capital return plus the sum of 3% coupons per observation date elapsed if on any of the valuation dates the FX pair performs at or below its initial level. With that, the product bets on the euro's depreciation to guarantee investors an early payout and thus, reinvestment opportunity. If the product reaches maturity, investors will receive their initial investment and the accumulated coupons, as long as the euro has not breached the 120% barrier. Otherwise, the initial capital will be reduced by the fivefold difference between the currency pair's final level relative to its starting price and the barrier.

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