Structured Notes

Below are the Structured Note issues that are currently available via Ethical Offshore Investments.

Structured Notes

While Structured Notes are not our core investments (we prefer to use daily traded managed funds, ETF’s & direct shares), we understand and acknowledge that there is a demand for such products, especially in the Offshore market.

 

These products can provide additional diversification and risk management for portfolios.

 

We will only have arrangements with providers that are regulated and adhere to our strict ethical business management standards.

 

** All clients of Ethical Offshore Investments will receive a minimum 1% Commission Rebate credit on investments made into the Structured Notes listed below **

 


 

 

US Tech Memory Income Knock-Out

16.00%pa

 

 

This growth based Note has the opportunity for an early maturity from 6 months if all of the Underlying assets are at or above their Knock-Out Trigger level. If the note Knocks-Out all underlying assets, clients will receive their invested capital back, plus a snowballing coupon for each quarterly period that has elapsed.

 

If on any of the quarterly observation dates, including the final observation date, the closing levels of all of the underlyings are at or above the Income Trigger (60% of the initial level), the income coupon will be paid plus any previously missed income payments.

 

If the investment continues to the final observation date and all of the underlying are at or above the Capital Protection Barrier (60% of the initial level), full capital will be returned plus the coupon for each quarterly period which has elapsed is paid and the investment will end.

 

Guarantor: Societte Generale (Moody A1 / S&P A / Fitch A)

 

Conditional Coupon:

USD: 16.00%pa (4.00% Quarterly) gross

 

Underlying indices: Microsoft Corp / Intel Corp / Tesla Inc / Nvidia Corp

 

Income Trigger: 60% of initial level

Income Observation: Quarterly

Knock Out Trigger: 95% of initial level

Knock Out Observation: Quarterly from end of quarter 2

Investment Term: 4 years (max)

Capital Protection Barrier: 50% Final Level (European Style) Barrier

 

Trades by: 20 March 2025

 

> FIND OUT MORE <<

 

This Note is now closed for new investments – A new version of this Note will be issued shortly.

 


 

 

85 – 65 Memory Income Autocall

8.60%pa (USD) / 7.90%pa (GBP

 

This income based note has the opportunity for an early maturity from 12 months. It features a semi-annual coupons which is payable when all of the underlying indices are at or above 85% of their initials at any observation date. The memory feature means that whenever an income payment is made, it will include any payments that have previously been missed.

 

Issuer: Barclays Bank plc (Moody A1 / S&P A+ / Fitch A+)

 

Conditional Coupon:

USD: 8.60%pa (4.30% Semi-Annually) gross

GBP: 7.90%pa (3.95% Semi-Annually) gross

 

Underlying indices:  Italy: FTSE MIB / Australia: S&P ASX 200 / US: Russell 2000

 

Autocall Trigger: 100% of initial level

Autocall Observation: Semi-annual from end of year 1

Income Trigger: 85% of initial level

Income Observation: Semi-annual

Investment Term: 6 years (max)

Capital Protection Barrier: 65% Final Level (European Style) Barrier

 

Trades by: 20 March 2025

 

> FIND OUT MORE <<

 

This Note is now closed for new investments – A new version of this Note will be issued shortly.

 


 

Triple Index Classic Autocall

12.06%pa (USD) / 10.84%pa  (GBP)

 

 

This note offer the potential for an early maturity from 6 months, if all of the underlying indices are at or above their initial levels. If the Note autocalls, clients will receive their invested capital back, plus a snowballing coupon for each semi-annual period that has elapsed 

 

Issuer: Canadian Imperial Bank of Commerce (Moody Aa2 / S&P A+ / Fitch AA)

 

USD: 12.06%pa – (6.03% snowball coupon accruing semi-annually) 

GBP: 10.84%pa – (5.42% snowball coupon accruing semi-annually)  

 

Underlying indices: Euro Stoxx 50 / Japan: Nikkei 225 / US: Russell 2000

 

Autocall Trigger: 100% of initial level

Autocall Observation: Semi-Annually from 6 months

Investment Term: 6 years (max)

Capital Protection Barrier: 65% Final Level (European Style) Barrier

 

Trades by: 26 March 2025

 

> FIND OUT MORE <<

 

 


 

 

Index Monthly Memory Income Autocall

7.70%pa (USD)

 

This income based note has the opportunity for an early maturity from 24 months. It features a MONTHLY coupon which is payable when all of the underlying indices are at or above 85% of their initials at any observation date. The memory feature means that whenever an income payment is made, it will include any payments that have previously been missed.

 

Issuer: BBVA (Moody A3 / S&P A)

 

Conditional Coupon:

USD: 7.70%pa (0.6417% monthly) gross

 

Underlying indices: Switzerland: SMI Index / Europe: Euro Stoxx 50 / Japan: Nikkei 225 / US: S&P 500

 

Autocall Trigger: 100% of initial level

Autocall Observation: Monthly from end of year 2

Income Trigger: 85% of initial level

Income Observation: Monthly

Investment Term: 6 years (max)

Capital Protection Barrier: 65% Final Level (European Style) Barrier

 

Trades by: 27 March 2025

 

 

 


 

Index Memory Income Autocall

8.50%pa (USD)

 

This income based note has the opportunity for an early maturity from 1 year if all of the underlying indices are at or above their initial levels. It features a semi-annual coupon of 4.25% which is payable when all of the underlying indices are at or above 85% of their initials at any observation date. The memory feature means that whenever an income payment is made, it will include any payments that have previously been missed.

 

Guarantor: Banco Santander S.A. (S&P A+)

 

Conditional Coupon:

USD: 8.50%pa (4.25% semi-annual) gross

 

Underlying indices: Europe: Euro Stoxx 50 / Japan: Nikkei 225 / US: Nasdaq 100

 

Autocall Trigger: 100% of initial level

Autocall Observation: Semi-annual from end of year 1

Income Trigger: 85% of initial level

Income Observation: Semi-annual

Investment Term: 6 years (max)

Capital Protection Barrier: 65% Final Level (European Style) Barrier

 

Trades by: 27 March 2025

 

 

 

 


 

Banks Memory Income Autocall

19.75%pa (USD)

 

 

This income based note has the opportunity for an early maturity from 6 months. It features a quarterly COUPON which is payable when all of the underlying stocks are at or above 90% of their initial level at any observation date. The memory feature means that whenever an income payment is made, it will include any payments that have previously been missed.

 

If on the monthly observation date from month 6, all of the underlying stocks are at or above 90% of their initial level, the Note will mature early with investors getting their invested capital back, plus the income coupon due that quarter. 

 

Issuer: BBVA (Moody A3 / S&P A)

 

Conditional Coupon: USD: 19.75%pa (4.9375% paid quarterly) gross

 

Underlying indices: Goldman Sachs Group Inc / ING Group NV / Commerzbank AG

 

Autocall Trigger: 100% of initial level

Autocall Observation: Quarterly from end of month 6

Income Trigger: 90% of initial level

Income Observation: Quarterly

Investment Term: 4 years (max)

Capital Protection Barrier: 65% Final Level (European Style) Barrier

 

Trades by: 27 March 2025

 

 

 


 

60 / 60 Low Trigger Monthly Income Autocall 

17.75%pa (USD)

 

 

This income based note has the opportunity for an early maturity from 6 months. It features a MONTHLY COUPON which is payable when all of the underlying stocks are at or above 60% of their initials at any observation date. The memory feature means that whenever an income payment is made, it will include any payments that have previously been missed.

 

If on the monthly observation date from month 6, all of the underlying stocks are at or above 90% of their initial level, the Note will mature early with investors getting their invested capital back, plus the income coupon due that month. 

 

Issuer: BBVA (Moody A3 / S&P A)

 

Conditional Coupon: USD: 17.75%pa (1.4792% paid monthly) gross

 

Underlying indices: Amazon Inc / Netflix Inc / Nvidia Corp / Tesla Inc

 

Autocall Trigger: 90% of initial level

Autocall Observation: Monthly from end of month 6

Income Trigger: 60% of initial level

Income Observation: Monthly

Investment Term: 4 years (max)

Capital Protection Barrier: 60% Final Level (European Style) Barrier

 

Trades by: 27 March 2025

 

 

 


 

2 year Semiconductors Fixed Coupon Autocall

16.00%pa (USD) 

 

 

This income based note has the opportunity for an early maturity from 6 months. It features a fixed coupon income paid quarterly, irrespective of the performance of the underlying stocks.

 

Issuer: BBVA (Moody A3 / S&P A)

 

USD: 16.00%pa (4.00% paid quarterly) gross

 

Underlying indices: Micron Technology Inc / Arm Holdings Plc / NVIDIA Corp 

 

Autocall Trigger: 100% of initial level

Autocall Observation: Quarterly from end of 2nd quarter

Investment Term: 2 years (max)

Capital Protection Barrier: 65% Final Level (European Style) Barrier

 

Trades by: 27 March 2025

 

 

 

 


 

 

US Tech Early Low Hurdle Autocall

34.00%pa

 

 

This growth based Note has the opportunity for an early maturity from 6 months. The underlying basket is observed daily between the strike date and the 3rd observation at month 12. If the underlyings have not fallen by more than 40% at any point, then the autocall barrier will change to 60% and the Note will mature early (a Glider Barrier).

 

If the Glider Barrier is breached, then the Glider feature will not come into effect and the autocall barrier will remain at 95% throughout. If on any quarterly observation dates from Observation 4, all of the underlyings are at or above the 95% Autocall Trigger, the investment will autocall. 

 

Guarantor: Societte Generale (Moody A1 / S&P A / Fitch A)

 

USD: 34.00%pa (8.50% snowball coupon accruing quarterly) gross

 

Underlying indices: Intel Corp / Oracle Corp / Tesla Inc / Nvidia Corp

 

Autocall Trigger: 95% of initial level with a 60% Glider Barrier at month 12

Autocall Observation: Quarterly from end of quarter 2

Investment Term: 4 years (max)

Capital Protection Barrier: 50% Final Level (European Style) Barrier

 

Trades by: 27 March 2025

 

> FIND OUT MORE <<

 

 


 

 

Banks Low Hurdle Basket Star Autocall

16.00%pa

 

 

This growth based Note has the opportunity for an early maturity from 6 months if all of the underlying bank stocks are at or above 95% of their initial levels (reducing to 70% on the final observation date). If the Note autocalls, clients will receive their invested capital back plus a snowballing coupon of 4% for each quarterly period that has elapsed.

 

If the Capital Protection Barrier is breached at maturity, the Basket Star Barrier feature will come into effect. If the equally weighted performance of the basket is at or above 80%, then full capital will be returned. If it is below this level, the capital will be reduced on 1 for 1 basis in line with the worst performing underlying bank stock

 

Guarantor: Societte Generale (Moody A1 / S&P A / Fitch A)

 

USD: 16.00%pa (4.00% snowball coupon accruing quarterly) gross

 

Underlying indices: UniCredit SpA / Commerzbank AG / Banco Bilbao Vizcaya Argentaria SA / Morgan Stanley

 

Autocall Trigger: 95% of initial level (reducing to 70% at final observation)

Autocall Observation: Quarterly from end of quarter 2

Investment Term: 4 years (max)

Capital Protection Barrier: 50% Final Level (European Style) Barrier (80% Basket Star Barrier)

 

Trades by: 27 March 2025

 

> FIND OUT MORE <<

 

 


 

Classic Autocall Note (#25)

12.30%pa (USD) / 10.30%pa (GBP) 

 

This Note offers a potential coupon of up to 12.30%pa for each year held, if the underlying assets are above their initial strike levels on any semi-annual observation date, from the end of year one onwards.

 

Issuer: BBVA (Moody A3 / S&P A)

 

Underlying indices: Euro Stoxx 50 index, Nikkei 225 index, S&P 500 index

 

Conditional Coupon: USD 12.30%pa

Conditional Coupon: GBP 10.30%pa

 

Autocall Trigger: 100% of initial level

Autocall Observation: Semi-annual from end of year 1

Investment Term: 6 years (max)

Capital Protection Barrier: 65% Final Level (European Style) Barrier

 

Trades by: 28 March 2025

 

 

 


 

 

Prime Income Note #5 

8.40%pa USD / 7.60%pa GBP

 

This Note offers a potential coupon of up to 8.40%pa for each year held, if all of the indices are at or above 85% of their initial strike levels on any semi-annual observation date. The Note has a memory feature which means that when a coupon payment is made, it will also include any previously missed coupon payments.

 

The Note also has the potential to mature early if all of the indices are at or above their initial strike levels on the semi-annual observation dates, from year 1 onwards. If the Note Autocalls, investors get 100% of their invested capital back plus the coupon payment.

 

Issuer: Barclays Bank plc (Moody A1 / S&P A+ / Fitch A+)

 

Underlying indices: Nasdaq 100 index / Nikkei 225 index / Euro STOXX 50 index

 

Conditional Coupon: USD 8.40%pa (paid semi-annually)

Conditional Coupon: GBP 7.60%pa (paid semi-annually)

Coupon Trigger Barrier: 85% of initial strike levels

Coupon Observation: Semi-annual

Investment Term: 6 years (max)

Autocall Trigger: 100% of initial level

Autocall Observation: Semi-annual from end of year 1

Capital Protection Barrier: 65% Final Level (European Style) Barrier

 

Trades by: 28 March 2025

 

 


 

100% Capital Protected 

S&P 500 Index

 

 

This capital protected growth participation Note gives investors peace of mind that their invested capital will be protected, even in falling market conditions. This Note takes the quarterly averaged performance of the S&P 500 Index, throughout out the full six-year term, to determine performance.

 

At the final observation date, should the averaged performance of the underlying index be positive, investors will receive an enhanced participation in the positive performance of 132%. For example, if the averaged performance is +40% at maturity, investors will receive a coupon of 52.8%, in addition to their invested capital.

 

Guarantor: BNP Paribas (Aa3 / AA- / A+)

Underlying: US: S&P 500 Index

Term: 6 years

Participation Rate: 132% of the quarterly averaged performance

Capital Protection: Minimum of 100% of capital returned at maturity **

** unless a Credit Event occurs with the issuer 

 

Closing date: 28 March 2025

 

 

 


 

3 Year Fixed Income

6.80%pa (USD) / 6.30%pa (GBP)

 

This income based Note will pay a fixed income coupon on the quarterly payment dates until maturity, irrespective of the performance of the underlying indices. At the final observation date, if the underlying indices are at or above the Capital Protection Barrier (65% of initial level), then full capital is returned to the investor.

 

Issuer: Natixis (Moody A1 / S&P A+ / Fitch A+)

 

USD: 6.80%pa (1.700% paid quarterly) gross

GBP: 6.30%pa (1.575% paid quarterly) gross

 

Underlying indices: Europe: Euro Stoxx 50 index / Japan: Nikkei 225 index / US: Russell 2000 index

 

Investment Term: 3 years

Capital Protection Barrier: 65% Final Level (European Style) Barrier

 

Trades by: 3 April 2025

 

> FIND OUT MORE <<

 

 


 

Triple Index Semi-Annual Classic Autocall

10.00%pa (USD) / 9.80%pa  (GBP)

 

 

This note offers the potential for a coupon of up to 5.00% for each 6 month period held (10.00%pa). This growth based Note has the opportunity for an early maturity after 12 months, and then on a semi-annual basis if the underlying indices are at or above their initial levels on these observation dates.

 

Issuer: Canadian Imperial Bank of Commerce (Moody Aa2 / S&P A+ / Fitch AA)

 

USD: 10.00%pa – (5.00% snowball coupon accruing semi-annually) 

GBP: 9.800%pa – (4.90% snowball coupon accruing semi-annually)  

 

Underlying indices: Euro Stoxx 50 / Japan: Nikkei 225 / Switzerland: SMI

 

Autocall Trigger: 100% of initial level

Autocall Observation: Semi-Annually from 6 months

Investment Term: 6 years (max)

Capital Protection Barrier: 60% Final Level (European Style) Barrier

 

Trades by: 10 April 2025

 

 

 


 

Semi-Annual Classic Autocall

14.00%pa (USD) / 12.70%pa (GBP)

 

This Note has the opportunity for an early maturity from 12 months if all of the underlying indices are at or above their initial levels. If the Note autocalls, clients will receive their invested capital back, plus a snowballing coupon for each semi-annual period that has elapsed.

 

Issuer: BBVA (Moody A3 / S&P A)

 

USD: 14.00%pa (7.00% snowball coupon accruing Semi-annually) gross

GBP: 12.70%pa (6.35% snowball coupon accruing Semi-annually) gross

 

Underlying indices: Switzerland: SMI / Europe: Euro Stoxx 50 index / Japan: Nikkei 225 index / US: S&P 500 index

 

Autocall Trigger: 100% of initial level

Autocall Observation: Semi-annual from end of year 1

Investment Term: 6 years (max)

Capital Protection Barrier: 60% Final Level (European Style) Barrier

 

Trades by: 13 April 2025

 

> FIND OUT MORE <<

 

 


 

 

80 – 60 Memory Income Autocall

8.60%pa (USD) / 8.00%pa (GBP) 

 

This income based note has the opportunity for an early maturity from 12 months. It features a quarterly coupon which is payable when all of the underlying indices are at or above 80% of their initials at any observation date. The memory feature means that whenever an income payment is made, it will include any payments that have previously been missed.

 

Issuer: BBVA (Moody A3 / S&P A)

 

Conditional Coupons:

USD: 8.60%pa (2.15% paid quarterly) gross

GBP: 8.00%pa (2.00% paid quarterly) gross

 

 

Underlying indices: Italy: FTSE MIB Index / Switzerland: SMI / Japan: Nikkei 225 / US: Russell 2000

 

Autocall Trigger: 100% of initial level

Autocall Observation: Quarterly from end of year 1

Income Trigger: 80% of initial level

Income Observation: Quarterly

Investment Term: 6 years (max)

Capital Protection Barrier: 60% Final Level (European Style) Barrier

 

Trades by: 14 April 2025

 

> FIND OUT MORE <<

 

 


 

100% Capital Protected Autocall

8.60%pa (USD) / 8.80%pa (GBP)

 

 

This growth Note has the opportunity for an early maturity from 36 months if all of the underlying indices are at or above their initial levels. If this Note autocalls, clients will receive their invested capital back, plus a snowballing coupon for each semi-annual period that has elapsed. 

 

Guarantor: Morgan Stanley (Moody A1 / S&P A1 / Fitch A+)

 

USD: 8.60%pa (4.30% snowball coupon accruing Semi-annually) gross

GBP: 8.80%pa (4.40% snowball coupon accruing Semi-annually) gross

 

Underlying: Spain: IBEX 35 / Italy: FTSE MIB / Japan: Nikkei 225

Term: 6 years (max)

Autocall Observation: Semi-annually from end of year 3

Autocall Trigger: 100% of initial levels

Capital Protection: Minimum of 100% of capital returned at maturity **

** unless a Credit Event occurs with the issuer 

 

Closing date: 15 April 2025

 

> FIND OUT MORE <<

 

 


 

 

Quarterly Income Note 

7.60%pa USD / 7.50%pa GBP

 

This Note offers a conditional coupon of up to 1.90% per quarter (7.60%pa), if all of the indices are at or above 85% of their initial strike levels on any quarterly observation date. The Note has a memory feature which means that when a coupon payment is made, it will also include any previously missed coupon payments.

 

The Note also has the potential to mature early if all of the indices are at or above their initial strike levels on any of the quarterly observation dates, from 18 months onwards.

 

Issuer: Barclays Bank plc (Moody A1 / S&P A+ / Fitch A+)

 

Underlying indices: Russell 2000 index / Nikkei 225 index / FTSE 100 index

 

Conditional Coupon: USD 7.60%pa (paid quarterly)

Conditional Coupon: GBP 7.50%pa (paid quarterly)

 

Coupon Trigger Barrier: 85% of initial strike levels

Coupon Observation: Quarterly

Investment Term: 4 years (max)

Autocall Trigger: 100% of initial level

Autocall Observation: Quarterly from end of month 18

Capital Protection Barrier: 65% Final Level (European Style) Barrier

 

Trades by: 17 April 2025

 

 

 


 

95% Capital Protected Autocall

7.70%pa (USD) / 7.60%pa (GBP)

 

 

This growth Note has the opportunity for an early maturity from 36 months if all of the underlying indices are at or above their initial levels. The Note has the potential for a coupon payment of up to 7.70% for each year held, if the underlying indices are at or above their initial levels on any of the semi-annual observation dates from then end of year 3 onwards.

 

With the Capital Protection feature, a minimum of 95% of the invested capital would be returned to the investor.

 

Guarantor: Goldman Sachs Group Inc (Moody A2 / S&P BBB+ / Fitch A)

 

USD: 7.70%pa (3.850% snowball coupon accruing Semi-annually) gross

GBP: 7.60%pa (3.800% snowball coupon accruing Semi-annually) gross

 

Underlying: US: S&P 500 / Italy: Euro Stoxx 50 / Japan: Nikkei 225

Term: 6 years (max)

Autocall Observation: Semi-annually from end of year 3

Autocall Trigger: 100% of initial levels

Capital Protection: Minimum of 95% of capital returned at maturity **

** unless a Credit Event occurs with the issuer 

 

Closing date: 2 May 2025

 

 

 

 


** the commission rebate applies to all Structured Notes invested via Ethical Offshore Investments.

 

With our partnerships with various Structured Note providers, it is possible to create a bespoke Structured Note inline with an individuals personal investment return & risk tolerance requirements.

 

What are Structured Notes?


Structured NotesStructured products / notes are generally a type of fixed-term investment where the amount you earn depends on the performance of a specific market (such as the FTSE 100) or specific assets (such as shares in individual companies).

There are two main types of structured product:

  • structured deposit
  • structured investment

Some structured investments offer a degree of capital protection, while others do not. The income or growth is usually not guaranteed and you may get no return on your investment. Even where there is capital protection, the deduction of fees and charges could mean you could get less than you put in.

Structured deposits and structured investment products with some capital protection are often purchased by customers looking for alternatives to savings accounts and other deposit-based products.

However, these products often have complicated features that can make it difficult to understand the return you are likely get, including the risk of getting no return on your investment.

It is important that you take the time to understand and assess the product you’re thinking of buying before investing.

Complex products do not necessarily offer better returns than simpler ones, such as fixed-term deposits.


Courtesy of https://www.fca.org.uk/consumers/structured-products