After a few quiet months over the summer, Israel's Bank Leumi has launched a second structured deposit offering investors full capital protection and exposure to the stock of a US pharmaceutical company.
Two Years USD deposit is a US dollar-denominated product with full capital protection plus 100% participation in the rise of the Teva share price, provided a 22% upper barrier is not breached, in which case investors receive a flat coupon of 0.30%.
"During 2008, the [Teva] share was characterised as defensive and declined by approximately 8%, compared with declines of approximately 46.2% and 27.4% recorded in the TA25 and Nasdaq indices, respectively. Since the beginning of 2009, the Teva share has risen by approximately 24.1%, compared with hikes of approximately 64.1% and 39.7% in the TA25 and Nasdaq, respectively," said the bank.
The Two Years USD deposit closed its offer period yesterday. The minimum investment was $10,000.