The Dutch merchant bank has launched two knockout notes in quick succession as investors remain keen on defensive yield enhancement products.

Kempen is marketing the VL Trigger Plus Note Eurozone Sep 19-24 in the Netherlands. The five-year medium-term note – which can be redeemed early, annually – pays a fixed memory coupon of 4.50% if the underlying Eurostoxx 50 closes at or above 80% of its strike level on the annual valuation date. The structure is issued on the paper of parent company Van Lanschot and is the second Trigger Plus Note from the bank in recent months. The first , which struck on June 14 when the Eurostoxx

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