Spanish's Liberbank, the new bank created by the merger of Caja de Extremadura, Cajastur/CCM and Caja Cantabria, has launched its first structured fund in the Spanish market.
Liberbank Garantia 7 is a three-year two-month altiplano growth fund linked to a basket of five shares (E.ON, Bayer, HSBC, Credit Agricole and Arcelor Mittal). If at the first, second or fourth anniversary all the underlying levels are at or above their initial levels, the product registers a 7% coupon. At maturity, the product offers the initial capital plus the sum of all the registered coupons, subject to a minimum capital return of 107%. Liberbank Garantia 7 will be marketed until 19 January.
This is product is a rollover of Cajastur Estrategias Garantizado, a capital-guaranteed fund marketed by Cajastur in June 2008 which raised €20.95m. The fund matured on 2 November returning 102% of the initial investment after three years and four months.
These products are available on the Spanish database.