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CitiFirst - Tuottoa Discount-sertifikaateilla

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Joel Behm esittelee Citin Discount-sertifikaatit. Mikä on Discount-sertifikaatti ja miten voit sijoittaa kohde-etuuteen alennuksella?

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CitiFirst - Tuottoa Discount-sertifikaateilla

  1. 1. Tuottoa Discount-sertifikaateilla Citi Equities | Warrants & Certificates www.citifirst.fi
  2. 2. Sisältö 1. CitiFirst 1 2. Discount-sertifikaatit • Mikä on Discount-sertifikaatti? • Sijoita kohde-etuuteen alennuksella • Käteissuoritus eräpäivänä • Mahdollisia skenaarioita eräpäivänä • Nokian kurssikehitys • Sanastoa • Hintakehitykseen vaikuttavat tekijät juoksuaikana 2 4. Yhteenveto 9
  3. 3. 1. CitiFirst
  4. 4. CitiFirst Citi  Henkilöstöä yli 200 000 ja toimintaa yli 100 maassa  Noin 200 miljoonaa asiakasta  Suomessa vuodesta 1978, lähinnä yritys- ja investointipankkitoimintaa. CitiFirst  CitiFirst toimii sijoitustuotteiden liikkeeseenlaskijana kolmella mantereella  Suomessa CitiFirstin tarjontaan kuuluu: – Viputuotteet: Minifutuurit ja Unlimited Turbot – Sijoitustuotteet: Discount-sertifikaatteja CitiFirst on Citin brändi pörssilistatuille sijoitustuotteille 1 CitiFirst
  5. 5. 2. Discount-sertifikaatit
  6. 6. Mikä on Discount-sertifikaatti?  Pankin tai rahoituslaitoksen liikkeeseenlaskema  Pörssilistattu arvopaperi - Markkinatakaus  Sidottu kohde-etuuteen  Ennalta määrätty voimassaoloaika  Kerroin Toimintaperiaate  Sijoita kohde-etuuteen alennuksella  Osallistuminen kohde-etuuden kurssikehitykseen maksimitasolle asti  Käteissuoritus eräätymisen yhteydessä Pörssilistattu arvopaperi 2 Discount-sertifikaatit
  7. 7. Sijoita kohde-etuuteen alennuksella Alennus – Mahdollistaa tuoton myös paikallaan pysyvässä tai jopa laskevassa markkinassa – Pienempi kurssiriski kohde-etuuteen verrattuna – Alennus rakentuu koko voimassaoloajalta – Koostuu mm. osinko-odotuksista, volatiliteetista ja aika-arvosta Mahdollisuudet – Discount-tuotto – tuottoa jo sivuttaisliikkeisessä markkinassa – Tappiopuskuri – alennus toimii tappiopuskurina – Discount-sertifikaatista ei makseta osinkoja Riskit – Markkinariski – Rajallinen tuotto – Kurssikäyttäytyminen voimassaoloaikana – Liikkeeseenlaskijariski 3 Discount-sertifikaatit
  8. 8. Käteissuoritus eräpäivänä Esimerkki: DC NOK6L 5.25CG Nokia Hinta 5.41 EUR Alennus 0.70 EUR (12.9%) Discount- sertifikaatti Hinta 4.71 EUR Eräpäivänä Nokian kurssi: 5 EUR Nokian kurssi: 5.50 EUR Nokia Hinta 5.50 EUR Discount- sertifikaatti Maksimitaso 5.25 EUR Käteissuoritus Discount-sertifikaatti 5.25 EUR Nokia Hinta 5 EUR Discount- sertifikaatti Maksimitaso 5.25 EUR Käteissuoritus Discount-sertifikaatti 5 EUR Nokia Discount-sertifikaatti Sertifikaatin hinta, EUR 4.71 Maksimitaso 5.25 Nokia, EUR 5.41 4 Discount-sertifikaatit
  9. 9. Mahdollisia skenaarioita eräpäivänä Sertifikaatin hinta, EUR 4.71 Maksimitaso 5.25 Nokia, EUR 5.41 Eräpäivään mennessä Nokian kurssi on – pysynyt paikallaan 5.41 (0%)  Käteissuoritus 5.25 (+11.5%) – noussut 5.95 (+10%)  Käteissuoritus 5.25 (+11.5%) – laskenut 4.71 (-12.9%)  Käteissuoritus 4.71 (0%) – laskenut voimakkaasti 4.33 (-20%)  Käteissuoritus 4.33 (-8.1%) 5 Discount-sertifikaatit
  10. 10. Nokian kurssikehitys Sertifikaatin hinta, EUR 4.71 Maksimitaso 5.25 Nokia, EUR 5.41 4.25 4.50 4.75 5.00 5.25 5.50 5.75 6.00 6.25 6.50 6.75 7.00 7.25 7.50 7.75 8.00 01/2015 02/2015 03/2015 04/2015 05/2015 06/2015 07/2015 07/2015 08/2015 09/2015 10/2015 11/2015 12/2015 01/2016 02/2016 03/2016 Nokia Max. taso Outperformance Tappiotaso Eräpäivä 15.12.2016 Discount-tuotto 11.5% Outperformance-taso 6.03 6 Discount-sertifikaatit
  11. 11. Sanastoa  Maksimitaso: Korkein taso, jolle asti sijoittaja on osallinen kohde-etuuden nousussa  Erääntymispäivä: Päivä, jolloin Discount-sertifikaatti erääntyy ja käteissuorituksen määrä määritetään  Alennus: Kertoo kuinka paljon halvempi Discount-sertifikaatti on kohde-etuuteen verrattuna  Discount-tuotto: Tuotto, jonka Discount-sertifikaatista saa siinä tapauksessa, että kohde-etuus on erääntymispäivänä samalla tasolla kuin ostohetkellä 7 Discount-sertifikaatit
  12. 12. Hintakehitykseen vaikuttavat tekijät juoksuaikana Muutos Hinta Discount-sertifikaatti Kohde-etuus Volatiliteetti Juoksuaika Osinko-odotukset Korkotaso 8 Discount-sertifikaatit
  13. 13. 4. Yhteenveto
  14. 14. Yhteenveto  Sijoita kohde-etuuteen alennuksella  Osallistuminen kohde-etuuden nousuun maksimitasolle asti  Erääntymisen yhteydessä sertifikaatista maksetaan kohde-etuuden arvo, kuitenkin korkeintaan maksimitaso (kertoimella korjattuna)  Ominaisuudet – mahdollistaa positiivisen tuoton paikallaanpysyvässä tai hieman laskevassa markkinassa – tappiopuskuri  Juoksuaikana tuotteen hintaan vaikuttaa – kohde-etuuden hintakehitys – volatiliteetti – aika-arvo – osinko-odotukset – korkotaso 9 Yhteenveto
  15. 15. Citifirst.fi 10 Yhteenveto
  16. 16. Citifirst.fi 11 Yhteenveto
  17. 17. Nordnet 12 Yhteenveto
  18. 18. Yhteystiedot Puhelin: Suomesta 0800 9 4386 Ulkomailta +49 69 136 63960 Email sijoitustuotteet@citi.com Internet www.citifirst.fi 13 Yhteenveto
  19. 19. Citi believes that sustainability is good business practice. We work closely with our clients, peer financial institutions, NGOs and other partners to finance solutions to climate change, develop industry standards, reduce our own environmental footprint, and engage with stakeholders to advance shared learning and solutions. Highlights of Citi’s unique role in promoting sustainability include: (a) releasing in 2007 a Climate Change Position Statement, the first US financial institution to do so; (b) targeting $50 billion over 10 years to address global climate change: includes significant increases in investment and financing of renewable energy, clean technology, and other carbon-emission reduction activities; (c) committing to an absolute reduction in GHG emissions of all Citi owned and leased properties around the world by 10% by 2011; (d) purchasing more than 234,000 MWh of carbon neutral power for our operations over the last three years; (e) establishing in 2008 the Carbon Principles; a framework for banks and their U.S. power clients to evaluate and address carbon risks in the financing of electric power projects; (f) producing equity research related to climate issues that helps to inform investors on risks and opportunities associated with the issue; and (g) engaging with a broad range of stakeholders on the issue of climate change to help advance understanding and solutions. Citi works with its clients in greenhouse gas intensive industries to evaluate emerging risks from climate change and, where appropriate, to mitigate those risks. efficiency, renewable energy and mitigation This presentation has been prepared by individual sales and/or trading personnel of Citigroup Global Markets Deutschland AG (“Citi”) and not by Citi's research department. It is not investment research or a research recommendation for the purposes of BaFin rules, as it does not constitute substantive research or analysis. The provision of information is not based on your individual circumstances and should not be relied upon as an assessment of suitability for you of a particular product or transaction. Even if we possess information as to your objectives in relation to any transaction, series of transactions or trading strategy, this will not be deemed sufficient for any assessment of suitability for you of any transaction, series of transactions or trading strategy. This presentation is provided for information purposes and is intended for your use only. Save in those jurisdictions where it is impermissible to make such a statement, we hereby inform you that this presentation should not be considered as a solicitation or offer to sell or purchase any securities. This presentation does not constitute investment advice and Citi makes no recommendation as to the suitability of any of the products or transactions mentioned. Any trading or investment decisions you take are in reliance on your own analysis and judgment and/or that of your advisors and not in reliance on us. This presentation is not intended to forecast or predict future events. Past performance is not a guarantee or indication of future results. Any estimates and opinions included herein constitute Citi’s judgment as of the date hereof and are subject to change without any notice. Any products or securities described herein may be subject to fluctuations of their mark-to-market price or value. Such fluctuations may, depending on the type of product or security and the financial environment, be substantial. In addition the securities described herein may provide for payments linked to or derived from prices or yields of one or more securities or other instruments or foreign currencies, and such provisions may result in negative fluctuations in the value of and the amounts payable with respect to such securities prior to or at redemption. You should consider the implication of such fluctuation with your independent accounting, tax and risk advisors. This presentation may contain "forward-looking" information. Such information may include, but not limited to, projections, forecasts or estimates of cash flows, yields or return, scenario analyses and proposed or expected portfolio composition. Any forward-looking information is based upon certain assumptions about future events or conditions and is intended only to illustrate hypothetical results under those assumptions (not all of which are specified herein or can be ascertained at this time). It does not represent actual termination or unwind prices that may be available to you. Actual events or conditions are unlikely to be consistent with, and may differ significantly from, those assumed. Illustrative performance results may be based on mathematical models that calculate those results by using inputs that are based on assumptions about a variety of future conditions and events and not all relevant events or conditions may have been considered in developing such assumptions. Accordingly, actual results may vary and the variations may be substantial. The products or securities identified in any of the illustrative calculations presented herein may therefore not perform as described and actual performance may differ, and may differ substantially, from those illustrated in this material. When evaluating any forward looking information you should understand the assumptions used and, together with your independent advisors, consider whether they are appropriate for your purposes. Certain transactions, including those involving swaps and options, give rise to substantial risk and are not suitable for all investors. Citi is not acting as your advisor, fiduciary or agent and is not managing your account. Citi does not provide investment, accounting, tax, financial or legal advice; however, you should be aware that any proposed indicative transaction could have accounting, tax, legal or other implications that should be discussed with your independent advisors. Therefore, prior to entering into any transaction, you should determine, without reliance on Citi, the economic risks or merits, as well as the legal, tax and accounting characteristics and consequences of the transaction and that you are able to assume these risks. Citi shall have no liability to the user or to third parties, for the quality, accuracy, timeliness, continued availability or completeness of the data nor for any special, direct, indirect, incidental or consequential loss or damage which may be experienced because of the use of the information in this presentation or otherwise arising in connection with this presentation, provided that this exclusion of liability shall not exclude or limit any liability under any law or regulation applicable to Citi that may not be excluded or restricted. The information contained herein is proprietary information of Citi and may not be reproduced or otherwise disseminated in whole or in part without Citi’s prior written consent. © 2014 Citigroup Global Markets Limited. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. All rights reserved. Citi and Citi and Arc Design are trademarks and service marks of Citigroup Inc. or its affiliates and are used and registered throughout the world.
  20. 20. Liite: skenaarioita eräpäivänä - Nokia Nokian päätöskurssi eräpäivänä (EUR) Tuotto Nokia Käteissuoritus Discount- sertifikaatti Tuotto Discount- sertifikaatti 3.25 -39.9% 3.25 -31.0% 0.70 euron eli 13% suuruinen alennus mahdollistaa positiivisen tuoton myös paikallaan pysyvän tai jopa hieman laskevan kurssikehityksen yhteydessä. 3.79 -29.9% 3.79 -19.5% 4.33 -20.0% 4.33 -8.1% 4.71 -12.9% 4.71 0% 4.87 -10.0% 4.87 3.4% 5.25 -3.0% 5.25 11.5% 5.41 0% 5.25 11.5% Maksimitaso rajaa maksusuorituksen 5.25 euroon, vaikka Nokian kurssi olisi korkeampi. Tässä esimerkissä Discount Sertifikaatin korkein mahdollinen tuotto on 11,5 prosenttia. 5.95 10.0% 5.25 11.5% 6.49 20.0% 5.25 11.5% 7.03 29.9% 5.25 11.5% 7.58 40.1% 5.25 11.5% Sertifikaatin hinta, EUR 4.71 Maksimitaso 5.25 Nokia, EUR 5.41 14 Yhteenveto

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