In this week’s wrap we look at a selection of structured products with strike dates between 11-17 August 2024.
EUROPE Société Générale issued Phoenix Taux CMS 10 ans Mai 2024 in France. This 12-year, capital protected autocall is linked to the 10-year EUR constant maturity swap (CMS) rate. Every quarter, providing the underlying reference rate is at or below the coupon barrier of 3.1%, the product pays a coupon of 1.55%. Otherwise, no coupon is paid for that quarter. The product redeems early for a capital return of 100% if the CMS rate closes at or below the early redemption
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