UK cross asset brokerage firm Causeway Securities has launched its first three-year structure in the form of an income kick-out plan which also introduces a ‘memory’ feature.
The 3 Year Memory Income Kick-Out Plan , hedged by Morgan Stanley & Co. International, is a knockout/ worst of structure linked to the performance of a basket of indices comprising the FTSE 100 and S&P 500 indices. The products has a four percent pa headline rate – a conditional coupon of one percent if the level of the worst performing underlying is at or above 65% of its initial level, and includes a memory feature - if in a given period no coupon is paid, the investor will recei
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