Benefit from the upside with a principal protected note

The investor receives a coupon on an observation if the underlying is above the early redemption level. Every coupon not detached is added in memory and can be perceived on a future observation date. The automatic early redemption mechanism is then activated and the product stops. At maturity, the investor receives the positive performance of the underlying (multiplied by the leverage). Capital is guaranteed at maturity (except in the event of issuer default).