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Ancoria 4-Year EUR Autocall 8.5% Fund

Unit price

107.50

Currency

EUR

1 month

1.41%

1 year

7.79%

Valuation date

11 Apr 2024

Called/Autocalled



Overview

The fund offers policyholders the opportunity to earn an annual gross return of 8.5% with a yearly automatic redemption feature depending on the performance of the EURO STOXX 50 Index. Initial capital is subject to a loss only if at the final observation date in the year 2027 the Index drops by more than 45% from the initial level (observed on the 29th of March 2023). The Fund invests in structured notes issued and guaranteed by five different highly ranked financial institutions aiming to reduce credit risk.


Year 1-3: If on any Autocall Observation Date the EURO STOXX 50 Index closes at or above the Autocall Barrier, the Fund will redeem early and policy holders will receive 100% of their capital plus 8.5% less management fee, for every year since the Fund Start Date.

At maturity, Year 4: Both the return and capital guarantee will depend on the closing level of the EURO STOXX 50 Index on the Final Observation Date.

More specifically, if the Index level is: 

  • At or above the Initial Level, policyholders will receive a total return of 34% (8.5% per annum) plus 100% of the capital less management fee.
  • Below the Initial Level but at or above the Capital Protection Barrier, policyholders will receive 100% of the capital less management fee. 
  • Below the Capital Protection Barrier, policyholders will receive their capital reduced by the performance of the EURO STOXX 50 Index and the management fee.

  • have a neutral to slightly positive outlook for the performance of the EURO STOXX 50 Index and do not expect a price drop of more than 45% after 4 years (at maturity). 
  • aim for an attractive conditional coupon. 
  • are looking for an investment linked with Eurozone’s leading Blue-chip equity index.
  • can accept a holding period of up to 4 years.

Performance

Past performance is no guarantee of future performance. Performance data provided is based upon NAV net of management fees. Performance figures are presented in the currencies available for trading in the Fund and they have been converted where relevant, from the Fund's base currency. Investors should be aware of the impact of exchange rate fluctuations in the NAV of the Fund. Any additional charges that may apply from time to time are excluded from the calculation.

 

Key Facts

Term

4 years

Status

Called/Autocalled

Underlying

EURO STOXX 50 Index

Issuer

EFG International Finance, Goldman Sachs International, London, GB, Barclays Bank PLC, Morgan Stanley & Co International Plc, SG Issuer

Trade currency

EUR

Fund start date

13/03/2023

Date called

28/03/2024

Strike level

4,231.270

Strike date

29/03/2023

Coupon barrier level

4,231.270

Capital protection

Conditional

Capital protection barrier type

Terminal

Capital protection barrier level

2,327.199

Initial unit price

100 EUR

Coupon

8.50% per annum

Coupon frequency

Annually

Coupon type

Conditional/Memory

Autocall observation dates

28/03/2024, 31/03/2025,
31/03/2026 

Autocall payment dates

29/04/2024, 08/05/2025,
29/04/2026 

Final observation date

30/03/2027

Redemption date

29/04/2027

Redemption at maturity
Maturity type

Autocall

Guarantor

EFG Bank AG, Zurich, Switzerland, The Goldman Sachs Group, Inc, Barclays Bank PLC, Morgan Stanley, Société Générale, France

Final subscription date

31/03/2023

Payment details
Payment reference

Your policy number and the fund name

Entry fee

0 %

Early surrender fee

1 %

Management fee

1 %

Portfolio

Last updated: : 29/03/2024

Structured Products

100%

The project was submitted under the Digital Transformation for Business Program and is co-funded by the European Regional Development Fund and the Republic of Cyprus.