Dual Currency Note

Dual Currency Notes are structured products based on the exchange rate between two currencies - the investment currency and the alternative currency. These are most often products with very short maturities, between two weeks and one year.

At maturity, if the final level of the exchange rate between the two currencies is higher than the exercise price, the investor will receive a predefined sum in the investment currency. Otherwise, the sum will be converted into the alternative currency using the strike price.