Glossary

Accelerated Tracker

Accelerated Trackers are Structured Products, which offer investors a potential Gross Return at maturity based on the amplified rise of an Index such as the FTSE 100. The potential Gross Return is typically capped so there is a maximum potential return. Capital will typically be returned at maturity as long as the Index has not fallen below a predefined Protection Level.

Air Bag Level

A safety mechanism within Short and Leverage ETPs designed to slow the rate of loss from extreme intraday movements in the Underlying Asset.

Annual Charge

In the case of Exchange Traded Notes, an Annual Charge is calculated daily and deducted from the performance.

Annualised cost

The cost applied to a Short and Leverage ETP. The Annualised Cost consists of the Commission and the Collateral Cost. This Annualised Cost is pro-rated and applied to the product on a daily basis.

Ask price

The price you would pay to purchase an Exchange Traded Product in the secondary market.

At-The-Money

A Covered Warrant whose exercise price is near or equal to the underlying security's price.

Autocall

 

An Autocall is a Structured Product, which can pay a fixed return at maturity, or earlier if an Index such as the FTSE 100 Index is at or above a predefined Kick Out Level on one of the annual Valuation Dates. If it has not expired before, at Maturity capital will be returned as long as the Index has not fallen below a predefined Protection Level.

Automatic Exercise

The situation when, upon expiry, the value of a Covered Warrant (if positive) is automatically paid to the holder. All UK Covered Warrants have Automatic Exercise.

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