Product wrap: Belgium’s oldest private bank returns

EUROPE Nagelmackers , Belgium’s oldest private bank (founded in 1747), collected €58.7m with its Fixed to Floating CMS Linked Coupon Callable Note 2028 . The five-year, 100% protected steepener is the bank’s first public offer in Belgium since December 2021, and its first interest-linked structure since May 2019. The product pays a fixed annual coupon of 4.50% during the first three-years of investment. The remaining years, the annual coupon is equal to 1.5-times the difference