Finder Certificates Bonus
A bonus certificate combines the advantages of index and discount certificates. The bonus certificate promises the investor a repayment at least at the bonus level at maturity. If the underlying asset touches or falls below a certain price threshold (barrier) during the term, the bonus entitlement expires and the investor participates 1:1 in the performance of the underlying asset. Direct participation also occurs if the underlying rises above the bonus level.
The "Finder Certificates Bonus" is a table optimized for searching for these certificates, which you can use to configure individual search queries via the filter settings. In open security finders, the "Finder Certificates Bonus" is stored on the "Finder Certificates" worksheet.
In addition to the columns described in section Finder certificates section, the "Finder Certificates Bonus" contains the following columns:
Column | Description |
|---|---|
Subscription ratio | The subscription ratio of the bonus certificate. |
Bonus level | The bonus level of the bonus certificate. A bonus level is set at the time of issue and remains unchanged for the entire term. It is generally higher than the price of the underlying at the time the certificate is issued. If the underlying closes below the bonus level on the exercise date, the investor is reimbursed a guaranteed payment specified in the certificate's terms of issue. This corresponds to the bonus level (market value of the underlying at the time the certificate is issued plus a bonus payment). However, this is subject to the condition that the security level specified in the terms of issue remains intact during the term. If the underlying closes above the bonus level on the exercise date, the investor also participates in the performance of the underlying above this level. This is usually complete and unlimited, but can also run pro rata or up to a certain upper limit (cap). |
Barrier | The barrier of the bonus certificate. Bonus certificates offer additional protection if the underlying does not touch or fall below the barrier between the knock-in date and the end of the term. If the underlying falls below or touches the barrier at least once during this period, repayment is made in the same way as for an index certificate. The repayment is therefore based on the performance of the underlying asset since issue. |
Activation date Barrier | The activation date of the barrier of the bonus certificate. |
Cap | The cap of the bonus certificate. Some bonus certificates also have a cap, i.e. a fixed maximum amount up to which the investor can profit from an increase in the price of the underlying asset. |
You can use the parameters to select a different evaluation date.