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 **
85 – 65 Index Memory Income Autocall
9.00%pa (USD) / 8.50%pa
This income based note has the opportunity for an early maturity from 12 months. It features a semi-annual 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 Global Markets B.V. (Moody A3 / S&P A)
Conditional Coupons:
USD: 9.00%pa (4.500% paid semi-annually) gross
GBP: 8.50%pa (4.250% paid semi-annually) gross
Underlying indices: Italy: FTSE MIB Index / Switzerland: SMI / Japan: Nikkei 225 / US: Nasdaq 100
Autocall Trigger: 100% of initial level
Autocall Observation: Semi-annually from end of year 1
Income Trigger: 85% of initial level
Income Observation: semi-annually
Investment Term: 6 years (max)
Capital Protection Barrier: 65% Final Level (European Style) Barrier
Trades by: 26 June 2025
This Note is now closed for investment – a new version of this Note will be issued soon
Triple Index Defensive Autocall
Euro 9.50%pa
This Note has the opportunity for an early maturity from 12 months if all of the underlying indices are at or above the Autocall Trigger level of 95% of their initial level.
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)
Coupon:
USD: 9.50%pa (4.750% snowball coupon accruing semi-annual) gross
Underlying indices: Italy: FTSE MIB Index / Hong Kong: HSI / US: S&P 500
Autocall Trigger: 95% of initial level
Autocall Observation: Semi-annually from end of year 1
Investment Term: 6 years (max)
Capital Protection Barrier: 60% Final Level (European Style) Barrier
Trades by: 4 July 2025
3 Year Triple Index Fixed Income
6.90%pa (USD)
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: 6.90%pa (1.725% 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: 8 July 2025
60 / 60 – Semiconductors Memory Income Autocall
17.50%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 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 quarterly observation date from month 6, all of the underlying stocks are at or above 100% of their initial level, the Note will mature early with investors getting their invested capital back, plus the income coupon due for that period.
Issuer: BBVA (Moody A3 / S&P A)
Conditional Coupon: USD: 17.50%pa (4.375% paid quarterly) gross
Underlying indices: Micron Technology Inc / Broadcom Inc / Nvidia Corp / ASML Holdings NV
Autocall Trigger: 100% of initial level
Autocall Observation: Quarterly from end of month 6
Income Trigger: 60% of initial level
Income Observation: Quarterly
Investment Term: 4 years (max)
Capital Protection Barrier: 60% Final Level (European Style) Barrier
Trades by: 10 July 2025
US Tech Low Hurdle Autocall
30.00%pa
This growth based Note has the opportunity for an early maturity from 6 months. The underlying basket of stocks are observed daily between the strike date and the end of month 12. If the underlying stocks have not fallen by more than 40% at any point, then the autocall barrier will change to 60% and the Note will mature early (Glider Barrier).
If the Glider Barrier is breached, then the Glider feature will not come into effect and the autocall barrier will remain at 90% throughout. If on any quarterly observation date from month 12 all of the underlying stocks are at or above the Autocall Trigger, the investment will autocall.
Guarantor: Societte Generale (Moody A1 / S&P A / Fitch A)
Coupon:
USD: 30.00%pa (7.50% snowball coupon accumulating quarterly) gross
Underlying indices: Oracle Corp / Intel Corp / Tesla Inc / Nvidia Corp
Autocall Trigger: 90% 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: 10 July 2025
Semi-Annual Classic Autocall
14.00%pa (USD) / 12.40%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 (7.0% snowball coupon accruing Semi-annually) gross
GBP: 12.40%pa (6.200% 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: 15 July 2025
80 – 60 Memory Income Autocall
8.50%pa (USD) / 8.00%pa (GBP)
This income based note has the opportunity for an early maturity from 12 months. It features a semi-annual 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: 8.50%pa (4.250% paid semi-annually) gross
GBP: 8.00%pa (4.000% paid semi-annually) gross
Underlying indices: Italy: FTSE MIB Index / Sweden: OMX 30 / Japan: Nikkei 225 / US: Russell 2000
Autocall Trigger: 100% of initial level
Autocall Observation: Semi-annually from end of year 1
Income Trigger: 80% of initial level
Income Observation: Semi-annually
Investment Term: 6 years (max)
Capital Protection Barrier: 60% Final Level (European Style) Barrier
Trades by: 21 July 2025
60 – 60 Memory Income Autocall
7.20%pa (USD) / 7.00%pa (GBP)
This income based note has the opportunity for an early maturity from 12 months. It features a semi-annual coupon which is payable when all of the underlying indices 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.
Issuer: Barclays Bank plc (Moody’s A1 / S&P A+ / Fitch A+)
Conditional Coupons:
USD: 7.20%pa (3.600% paid semi-annually) gross
GBP: 7.00%pa (3.500% paid semi-annually) gross
Underlying indices: Italy: FTSE MIB Index / Sweden: OMX 30 / Japan: Nikkei 225 / US: Russell 2000
Autocall Trigger: 100% of initial level
Autocall Observation: Semi-annually from end of year 1
Income Trigger: 60% of initial level
Income Observation: semi-annually
Investment Term: 6 years (max)
Capital Protection Barrier: 60% Final Level (European Style) Barrier
Trades by: 22 July 2025
100% Capital Protected Autocall
7.50%pa (USD) / 7.50%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: 7.50%pa (3.75% snowball coupon accruing Semi-annually) gross
GBP: 7.50%pa (3.75% snowball coupon accruing Semi-annually) gross
Underlying: US: Russell 2000 / Italy: FTSE MIB / Japan: Nikkei 225 / Australia: S&P ASX 200
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: 23 July 2025
Transatlantic Low Trigger Memory Income Autocall
22.25%pa (USD) / 20.75%pa (GBP)
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 60% 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 quarterly 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 for that period.
Issuer: BBVA (Moody A3 / S&P A)
Conditional Coupon: USD: 22.25%pa (5.5625% paid quarterly) gross
Conditional Coupon: GBP: 20.75%pa (5.1875% paid quarterly) gross
Underlying indices: Lockheed Martin Corp / Rheinmetall AG / STMicroelectronics NV / Enphase Energy Inc
Autocall Trigger: 90% of initial level
Autocall Observation: Quarterly from end of month 6
Income Trigger: 60% of initial level
Income Observation: Quarterly
Investment Term: 4 years (max)
Capital Protection Barrier: 60% Final Level (European Style) Barrier
Trades by: 24 July 2025
100% Capital Protected
S&P 500 Index (128% participation rate)
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 128%. For example, if the averaged performance is +40% at maturity, investors will receive a coupon of 51.20%, in addition to their invested capital.
Guarantor: BNP Paribas (Aa3 / AA- / A+)
Underlying: US: S&P 500 Index
Term: 6 years
Participation Rate: 128% 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: 25 July 2025
95% Capital Protected Autocall
7.20%pa (USD) / 6.20%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 7.20% 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: BNP Paribas (Moody A1 / S&P A+ / Fitch A+)
USD: 7.20%pa (3.60% snowball coupon accruing Semi-annually) gross
GBP: 6.20%pa (3.10% 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: 25 July 2025
Prime Income Note #8
8.15%pa USD / 7.65%pa GBP
This Note offers a potential coupon of up to 8.15%pa, 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+)
Conditional Coupon: USD 8.15%pa (4.075% paid semi-annually)
Conditional Coupon: GBP 7.65%pa (3.825% paid semi-annually)
Underlying indices: Nasdaq 100 index / Nikkei 225 index / Euro STOXX 50 index
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: 1 August 2025
Classic Autocall Note #28
11.10%pa (USD) / 10.15%pa (GBP)
This Note offers a potential coupon of up to 11.10%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)
USD: 11.10%pa (5.550% snowball coupon accruing semi-annual) gross
GBP: 10.15%pa (5.075% snowball coupon accruing semi-annual) gross
Underlying indices: Euro Stoxx 50 index, Nikkei 225 index, 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: 65% Final Level (European Style) Barrier
Trades by: 1 August 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 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