The Australian multi-issuer platform (MIP) has just closed the fourth tranche of an ASX 200-linked structured note targeting a fixed return of 6.9% pa. as it sees an ‘exponential level of growth’ in terms of the number of users.
Issued by Société Générale, the non-principal protected note offers a downside protection of 35.55% and will be redeemed early if the S&P ASX 200 + dividends - 350 points pa. reaches a predefined level. The knockout level steps down at a two-year interval starting at five percent from the third year onwards. The product, which requires a minimum investment of AU$20,000, has a tenor between one and eight years, and offers daily liquidity. An Australian investor m