12 Y

based on multiple underlyings (multi-asset)

Any payouts attributable to the underlying
are used in favour of the strategy
Limited profit potential (Cap)

EUSIPA DERIVATIVE MAP

EUROPE

product is based on multiple underlyings

(multi-asset)
Any payouts attributable to the underlying
are used in favour of the strategy
Limited profit potential (Cap)

May 2012

EUROPEAN
STRUCTURED
INVESTMENT
PRODUCTS
ASSOCIATION

Tracker Certificates
(1300)

Outperformance
Certificates (1310)

Bonus Certificates
(1320)

Outperformance
Bonus Certificates (1330)

Twin-Win Certificates
(1340)

Market Expectation
Tracker Certificate (Bull): Rising underlying
Tracker Certificate (Bear): Falling
underlying

Market Expectation
Rising underlying
Rising volatility

Market Expectation
Underlying moving sideways or rising
Underlying will not breach Barrier
during product lifetime

Market Expectation
Rising underlying
Underlying will not breach Barrier
during product lifetime

Market Expectation
Rising or slightly falling underlying
Underlying will not breach Barrier
during product lifetime

AUSTRIA

FRANCE

GERMANY

ITALY

SWITZERLAND

SWEDEN

1 ANLAGEPRODUKTE

1 PROD. DINVESTISSEMENT

1 ANLAGEPRODUKTE

1 PRODOTTI DI INVESTIMENTO

1 INVESTERINGSPRODUKTER

1 ANLAGEPRODUKTE

11

CAPITAL PROTECTION PRODUCTS

11

11

11

11

11

11

1100
1110
1120
1130
1140
1199

Uncapped Capital Protection

Exchangeable Certificates
Capped Capital Protected
Capital Protection with Knock-Out
Capital protection with Coupon
Miscellaneous Capital Protection

12

YIELD ENHANCEMENT PRODUCTS

1200
1210
1220
1230
1240
1250
1260
1299

1200 Discount Zertifikate

Discount Certificates
Characteristics
Barrier Discount Certificates
Unlimited
participation
the
1220in Aktienanleihen
Reverse Convertibles
development
of
the
underlying
Barrier Reverse Convertibles
Capped Outperformance CertificatesReflects underlying price moves 1:1
(adjusted by conversion ratio and any
Capped Bonus Certificates
related fees)
1260 Express Zertifikate
Express Certificates
Miscellaneous Yield Enhancement Risk comparable to a direct investment

ANLAGEPRODUKTE MIT KAPITALSCHUTZ

Profit

Profit

1100 Equity protection senza cap

Loss

ANLAGEPRODUKTE OHNE KAPITALSCHUTZ

Loss

12

Loss

12

PRODUITS DE RENDEMENT

1200 Discount

Strike

Strike
1140 Strukturierte Anleihen
1199 Weitere Anlageprodukte mit Kapitalschutz

lyi
ng

1199 Altri prodotti a capitale protetto

lyi
ng

lyi
ng

lyi
ng

12

Strike

1199 Autres produits Capital Garanti lchance

Un
de
r

Loss

1199 Weitere Anlageprodukte mit Kapitalschutz

Un
de
r

Un
de
r

lyi
ng

Strike

Un
de
r

ANLAGEPRODUKTE OHNE KAPITALSCHUTZ

1200 Discount Zertifikate

12

Loss

PRODOTTI A CAP. NON PROT. E CONDIZ. PROT.

1200 Discount

LEVERAGE PRODUCTS

2 HEBELPRODUKTE

2 PROD. EFFET DE LEVIER

2 HEBELPRODUKTE

21

LEVERAGE PRODUCTS WITHOUT KNOCK-OUT

21

21

21

Kapitalskydd med maxniv

Kapitalskydd med knock-out
Kapitalskydd med kupong
Blandade Kapitalskyddade produkter

1130 Kapitalschutz-Zertifikat
1140 Kapitalschutz-Zertifikat mit Coupon
1199 Weitere Kapitalschutz-Zertifikate

12

AVKASTNINGSFRBTTRANDE INST.

12

RENDITEOPTIMIERUNG

Omvnd konvertibel
Autokupong/Omvnd konvertibel med barrir

1200
1210
1220
1230

Discount-Zertifikat
Discount-Zertifikat mit Barriere
Reverse Convertible
Barrier Reverse Convertible

Autocall / Expresscertifikat
Blandade avkastningsfrbttrande instrument

1260 Express-Zertifikat
1299 Weitere Renditeoptimierungs-Zertifikate

DELTAGANDEINSTRUMENT

13

PARTIZIPATION

Trackercertifikat
Tillvxtcertifikat
Bonuscertifikat

1300
1310
1320
1330
1340
1399

Tracker-Zertifikat
Outperformance-Zertifikat
Bonus-Zertifikat
Bonus-Outperformance-Zertifikat
Twin-Win-Zertifikat
Weitere Partizipations-Zertifikate

1200 Maxcertifikat

al
l

PRODUITS EFFET DE LEVIER CONSTANT

g
lyi
n
de
r

Un
de

Un

g
rly

in

Strike

Kn
oc

PRODUKTE MIT KONSTANTEM HEBEL

Loss

Knock-Out

Price of
underlying

Loss

Stop-Loss

Market Expectation

HVSTNGSINST. MED STOPP-LOSS Bull: Rising underlying

2200 Knock-Out warranter

2210 Mini Future

INSTRUMENT MED KONSTANT HVSTNG

ing

Knock-Out

Loss

SUPPORTING PARTNERS
ASSOCIATIONS
ASSOCIATIONS

SETIPA

EXCHANGES & DATAPROVIDERS

EXCHANGES & DATAPROVIDERS

2VDCHRG$WBG@MFD3Q@CDC
(MUDRSLDMS/QNCTBSR RRNBH@SHNM

SETIPA
SETIPA
SETIPA
2VDCHRG$WBG@MFD3Q@CDC(MUDRSLDMS/QNCTBSR RRNBH@SHNM

2VDCHRG$WBG@MFD3Q@CDC
(MUDRSLDMS/QNCTBSR RRNBH@SHNM

ISSUERS
ISSUERS

2399 Blandade instrument med konstant hvstng

Un
Loss

Characteristics
Characteristics
Characteristics
Small investment generating a leveraged
Small investment generating a leveraged
Small
investment
generating
a
EUROPEAN PRODUCT CATEGORIZATION
DISCLAIMER & COPYRIGHT
performance relative to the underlying
performance relative to the underlying
leveraged performance relative to the
Characteristics
Characteristicsof structured
2012 by Eusipa. Reproduction, publication or any other use is explicitly permitted
Eusipa intends to be a main
supporter of the efforts for transparency and understandability
and the sub-categorization according to the payoff profile of a product this solution combines the most
Increased
risk
of
total
loss
(limited
to
initial
Increased
risk of total
loss (limited
to initial
underlying
but only with full reference to the source
and without
any changes
or amendments.
investment
a standards
leveragedfor a uniform
Small
investment generating
aimportant
leveragedrequirements of all Eusipa members. Though the Eusipa categorization it is neither binding
investment products. Thus,Small
its members
have generating
agreed to set
categorization.
These
investment)
investment)
risk of total loss (limited to
differentiate on a first levelperformance
between Investment
and Leverage Products.
On a second
level, the
for national associations nor for issuers, Eusipa will
nevertheless recommend to all market participants Increased
to
relative Products
to the underlying
performance
relative
to the underlying
Immediately expires worthless in case the
Suitable
short term
speculation
initial investment)
Eusipa takes all reasonable steps to ensure
thefor
reliability
of the
published information.
system consists of Capital Protected
Products,
Yield Enhancement
Products,
adapttoits model unchanged.
Increased
risk of total
loss (limited toProducts, Participation
Increased
risk ofLeverage
total loss (limited
Barrier is breached during product lifetime
Immediately
worthless
in caseor
one
of
A residual value
maycan
be nevertheless
redeemed in no way guarantee
Eusipa
theexpires
correctness,
reliability
completeProducts with and without initial
Knock-Out
and
Constant
Leverage
Products.
With
both
the
top
level
distinction
investment)
initial investment)
Suitable for short term speculation or
the barriers is breached during product
following a stop loss event
Suitable for short term speculation or
Daily loss of time value (increases as
hedging
lifetime
Suitable for short term speculation or
hedging
product expiry approaches)
Small influence of volatility and small loss
Limited profit potential (Cap)
hedging
Daily loss of time value (increases as
Limited profit potential (Cap)
ofcategorization
time-value
Continuous monitoring required
Noother
influence
of volatility
The following
leading
market
participants
have
agreed
to
support
the
efforts
for
a
european
product
and
implement
it
on
websites
and
information
material.
product expiry approaches)
Continuous
monitoring
required
2VDCHRG$WBG@MFD
3Q@CDC(MUDRSLDMS
Continuous monitoring required
Continuous monitoring required
/QNCTBSR RRNBH@SHNM
Continuous monitoring required
Loss

2200
Warrant mit Knock-Out
Bear: Falling
underlying
2210 Mini-Future

Profit
2299 Blandade hvstngsinst. med stopp-loss

ly

r
de

in
g

Knock-Out

rly

lyi
n

Level

22

2300 Bull & Bear Certifikat

FinancingHebel
2399 Weitere Produkte mit konstantem

Constant2100
Leverage
Warrant Certificate
(2300) 2110 Spread Warrant

2199 Blandade hvstngsinst. utan stopp-loss

23

de

Strike

2399 Autres produits effet de levier constant

de
r

Ca

23

2300 Faktor-Zertifikate

Un

2399 Weitere Produkte mit konstantem Hebel

ll

2399 Miscellaneous Constant Leverage Products

2300 Leverages & Shorts

22 LEVERAGE
WITH KNOCK-OUT

ll
Ca

21 LEVERAGE
WITHOUT KNOCK-OUT

23

ut

2300 Faktor-Zertifikate

Pu

2300 Constant Leverage Certificate

P
ut

Pu

Profit
PRODUKTE
MIT KONSTANTEM HEBEL

Warrants
2100 Warranter

Price of Mini-Futures

2 HEBELPRODUKTE

HVSTNGSINST. UTAN STOPP-LOSS

ar

23

21

Be

Profit
CONSTANT LEVERAGE
PRODUCTS

23

Double Knock-Out
2100 Covered warrant
2110 Spread warrant
(2230)
2199 Altri prodotti a leva senza knock-out

2200
2210
2230
2299

22

Winwincertifikat
Blandade deltagandeinstrument

2 HVSTNGSINSTRUMENT

PRODOTTI A LEVA
PRODOTTI A LEVA SENZA KNOCK-OUT

Market Expectation
Market Expectation
Market Expectation
AVEC BARRIRE DSACTIVANTE
22
HEBELPRODUKTE MIT
KNOCK-OUT
PRODOTTI A LEVA
CON KNOCK-OUT
Mini-Future
(Long): Rising underlying
Underlying
moving sideways
Knock-Out (Call): Rising22underlying
Turbos
2200 Turbo
Knock-Out Produkte Mini-Future (Short): Falling underlying
Falling volatility
Knock-Out (Put): Falling2200
underlying
Turbos illimits / infinis
2210 Mini future
Stability Warrants
Profit
2299 Weitere Hebelprodukte
Autres produits de levierProfit
avec barrire
2299 Altri prodotti aProfit
mit Knock-Out
leva con knock-out
Knock-Out
k-

Market Expectation
22
HEBELPRODUKTE MIT KNOCK-OUT
Spread Warrant (Bull): Rising
2200 Knock-Out
Produkte
underlying
Spread Warrant (Bear): Falling
underlying
2299 Weitere Hebelprodukte mit Knock-Out

oc
Kn

2200
2210
2230
2299

Market Expectation
LEVERAGE PRODUCTS WITH KNOCK-OUT
Warrant (Call): Rising underlying,
Knock-Out Warrants
rising volatility
Mini-Futures Warrant (Put): Falling underlying,
Double Knock-Out
Warrants
rising
volatility
Miscellaneous Leverage with Knock-Out

Knock-Out Warrants
2100 Warrants
2100 Optionsscheine Mini-Futures
2110 Capps & Floors
(2210)
(2200)
2199 Autres prod. de levier sans barrire dsactivante 2199 Weitere Hebelprodukte ohne Knock-Out

ut
C

(2110)

2199 Weitere Hebelprodukte ohne Knock-Out

2
21

HEBELPRODUKTE OHNE KNOCK-OUT

Spread Warrants
2100 Optionsscheine

SANS BARRIRE DSACTIVANTE

k-

2100 Warrants Warrants

2110 Spread Warrants
(2100)
2199 Miscellaneous Leverage without Knock-Out

HEBELPRODUKTE OHNE KNOCK-OUT

KAPITALSCHUTZ

1100 Kapitalschutz-Zertifikat mit Partizipation

1110 Wandel-Zertifikat

1120
1130
1140
1199

Characteristics
Characteristics
Characteristics
Characteristics
Unlimited participation in the
Unlimited participation in the development
1220 Reverse ConvertiblesUnlimited participation in the development
1220 Aktienanleihen Unlimited participation in the development
1220
development of the underlying
of the underlying
of
the
underlying
of
the
underlying
1230 Reverse Convertibles knock-in
1230
Disproportional participation
Minimum
is equal to the Strike
A Bonus Certificate turns into 1240
a Tracker
the Outperformance
1240 Sprint
Sprint ZertifikateMinimum redemption is equal to 1240
conredemption
cap
(Outperformance) in a positive
the Barrier is never breached
Certificate after breaching the Barrier
Strike if the Barrier is never breached
1250 Bonus Capps
1250 Bonus conifcap
performance of the underlying
Minimum redemption is equal1260
to theExpress
Strike Zertifikate
Disproportional participation (Outperformance)
1260 Express Profits possible with rising and falling 1260
Reflects underlying price1299
movesAutres
1:1 produits de Rendement
underlying
if the Barrier is never breached
in a positive performance of the underlying
1299
when below the Strike
Falling underlying price converts into profit
Fees generally in the form of
Lower risk than a direct investment due to
An Outperformance Bonus Certificate
Risk comparable to a direct investment
until the Barrier
management fees or through the
the conditional capital protection
turns into an Outperformance Certificate
Any payouts attributable13to thePRODUITS DE PARTICIPATION
A Twin-Win Certificate turns into a Tracker
retention of payouts attributable to the
Larger Bonus payments or lower barriers can
after breaching the Barrier
PARTICIPATION PRODUCTS
13
underlying are used in favour
the (1301 100%beBear)
Certificate after breaching the Barrier 1300
underlying during the
lifetime
the
achieved at a greater risk if1300
the product
LowerZertifikate
risk than a direct investment
due Benchmark
to
1300 of
1300
100%
1300
Tracker Certificates
Indexof
/ Partizipations
Zertifikate
Index / Partizipations
strategy
Any payouts
to the underlying
product
is based on multiple underlyings
(multi-asset)
conditional capital protection1310 Outperformance
1310 Outperformance Zertifikate
1310
Outperformance Certificates
Outperformancethe
Zertifikate
senza attributable
cap
1310
arecap
used in favour of the strategy
Any payouts attributable to the
underlying
1320 Bonus
1320 Bonus Zertifikate
1320
1320 Bonus senza
Bonus Certificates
Bonus ZertifikateAny payouts attributable to the underlying
1320
are used in favour of the strategy
are used in favour of the strategy
Outperformance Bonus Certificates
1340 Twin Win
1340 Twin Win
Twin-Win Certificates
1340
1399 Autres produits de Participation
1399 Weitere Anlageprodukte ohne Kapitalschutz
1399 Weitere Anlageprodukte ohne Kapitalschutz
1399 Altri prodotti a cap non protetto e condiz. prot.
Miscellaneous Participation
1399

LEVERAGE PRODUCTS
22

1120 Equity protection con cap

Barrier

KAPITALSKYDDADE PRODUKTER

1100 Kapitalskydd utan maxniv

Barrier

Barrier
0

PRODOTTI A CAPITALE PROTETTO

Profit

1100 Kapitalschutz Zertifikate

Bu
ll

Bu
ll

PROD. CAPITAL GARANTI LCHANCE

1100 Capital Garanti

23 CONSTANT LEVERAGE

Profit

Un
de
r

ANLAGEPRODUKTE MIT KAPITALSCHUTZ

1100 Kapitalschutz Zertifikate

Un

1300
1310
1320
1330
1340
1399

13

Profit

a
Be

13 PARTICIPATION

1 INVESTMENT PRODUCTS

2300 Constant Leverage-Zertifikat

2099
Weitere Hebelprodukte
g

in
rly
U 14 Reference Entity Certificates: Investment products that are
e
nd

Loss

linked to a reference entity are classified in a dedicated category

due to their different mechanism and risks. For detailed information
please refer to the Swiss Derivative Map on svsp-verband.ch.

Characteristics
Small investment generating a leveraged performance relative
to the underlying
ness of the information published herein. The information published on the European
Increased risk of total loss (limited to initial investment)
Derivative Map in no way constitute a requirement, offer or recommendation to use a
Suitable forinstruments
short term speculation
service, to purchase or sell investment
or to carry out any other transaction.
The leverage
constant
for theonly
defined
period (e.g.published
daily) only
No investment or other decisions
shouldisbe
taken based
on information
price before
movements
of the
underlying in the same
herein. Please contact your Successions
investment of
advisor
making
a decision.
direction tend to have a positive effect on the performance,
price movements of the underlying in opposite directions a
negative effect
A Stop Loss and/or an automatic reset feature prevent the
value of the instrument to become negative
Continuous monitoring required

SETIPA

2VDCHRG$WBG@MFD
3Q@CDC(MUDRSLDMS
/QNCTBSR RRNBH@SHNM

2VDCHRG$WBG@MFD3Q@CDC
(MUDRSLDMS/QNCTBSR RRNBH@SHNM

SETIPA
SETIPA
SETIPA
2VDCHRG$WBG@MFD3Q@CDC(MUDRSLDMS/QNCTBSR RRNBH@SHNM

2VDCHRG$WBG@MFD3Q@CDC
(MUDRSLDMS/QNCTBSR RRNBH@SHNM