Catalan saving bank Unnim, the result of the merger of Caixa Sabadell, Caixa Terrassa and Caixa Manlleu, has raised more than €180m so far this year with its range of capital-protected structured deposits. The firm also said that the overall sales volume of the structured deposit range is now €545m.
Unnim said structured deposits are a strategic product line for the bank and have become an alternative tool for diversifying clients' investments and savings, as the returns offered are higher than the rates being offered on fixed-income products and capital is guaranteed at maturity.
Unnim is currently marketing two structured deposits: Depósito Smartphone, a three-year knockout/worst-of structure linked to a basket of shares comprising technology firms involved in the manufacturing and distribution of smartphones and computer tablets including Apple, Samsung, HTC, and Research In Motion; and Depósito Index, a three-year capital-protected product linked to an index basket comprising the Ibex35 and the German Dax using a knockout/spread option structure. Both products are fully protected at maturity.
These products are available in the Spanish database (Spain).