Bonus Certificate

The Bonus Certificate is a participation product. It offers a participation based on the increase in the underlying, as well as a bonus if the underlying ends above the protection barrier at maturity. The lower the barrier, the higher the bonus will be, because the investor takes more risk.

In our example, up to a performance of -20%, the investor receives the maximum amount between the bonus amount and the positive performance of the underlying. Below -20%, the investor recovers the performance of the underlying and records a capital loss.

To learn more, read this guide about participation products.