The Dual Currency Certificate is a Discount Certificate.

Discount Certificates are suitable for investors who anticipate a stagnating or a moderately rising or falling price of the underlying instrument. If this market expectation is fulfilled the investor will achieve a higher yield than they would by investing directly in the underlying.

• The Certificate is issued at a discount to the current price of the underlying in relation to the USD.
• Investors receive the maximum yield if the price of the underlying equals or exceeds the strike price
• If the underlying trades below the strike price at maturity, the investor is exposed to a price downside and may lose up to the entire investment

The Product is aimed at investors who

• want to generate a profit in sideways markets
• are looking for the flexibility to sell their investment at any time
• want to achieve the highest yield in the market