Nagelmackers partners with Societe Generale for steepener with a twist

Nagelmackers has launched the Interest Linked Autocallable Note in Belgium. The product is linked to the constant maturity swap rate (CMS) and is only the fifth interest-linked product with an autocall feature on the SRP Belgium database, three of which have expired. The 10-year note is issued via Societe Generale and offers annual income equal to the difference between the EUR CMS 30-year and the EUR CMS 2-year. However, as soon as the sum of the coupons reaches the fixed 8.50% target, the pro