The bank combines the higher coupons of conditionally capital-protected products with a step-down feature that appeals to conservative Italian investors.
Unicredit Bank has issued six step-down cash collect certificates on single stocks in Italy. The autocallable products are linked to the shares of Arcelor Mittal , STMicroelectronics , Fiat Chrysler Automobiles , Intesa Sanpaolo , Société Générale , and ENI , respectively. They pay a quarterly memory coupon of between nine percent and 21% pa providing the underlying closes at or above 70% of its strike level on the observation date. “The certificates target pr
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