Bonus certificate characteristics
In the "Full Quote" widget for a bonus certificate, you find the following data in the "Characteristics" area:
Characteristics
Field | Description |
|---|---|
Certificate group | The certificate type, here "Bonus". |
Certificate type | The certificate type. The type is used to categorise bonus certificates more precisely, for example, "Bonus Cap" or "Reverse Cap". |
Bonus level | The bonus level of a certificate. A bonus level is specified when the certificate is issued and remains unchanged during the entire term to maturity. By default, it is about the price of the underlying when the certificate is issued. If the underlying closes below the bonus level on the final fixing date, then the investor receives a guaranteed amount specified in the terms of issue. This corresponds to the bonus level (market value of the underlying instrument at issue of the certificate regarding the bonus payment), provided that the safety level specified in the issue conditions is still intact. If the underlying closes above the bonus level at maturity, then the holder also participates in the price development of the underlying instrument above this level. As a rule, the participation is complete and unlimited, but can be partial or continue up to a certain cap. |
Barrier | The barrier of the certificate. Bonus certificates provide an additional safety if the underlying reaches or exceeds the barrier between the knock-in date and the maturity date. If the underlying reaches or exceeds the barrier during this period, the repayment is like in case of and index certificate. The repayment is dependent on the price development of the underlying instrument since it has been issued. |
Cap | The cap of the certificate. Some bonus certificates also have a cap, that is, the specified maximum amount up to which the investor can profit from a price increase of the underlying. |
Strike | The strike or exercise price of the certificate. |