Caixa Penedes, part of Banco Mare Nostrum (BMN), the bank resulting of the merger between Caja Murcia, Caja Granada, and Sa Nostra, will end the week with €12m of rollover money after its Fonpenedes Garantit VII fund reached maturity paying out 138.83% (10.15% pa) of initial capital after three years.
The three-year capital-protected fund was linked to the performance of the London Gold Market Fixing Index (USD) and had a Napoleon payoff profile. The product promised to pay a coupon equal to 85% plus the sum of the negative monthly performances of the underlying index.
SRP data shows Fonpenedes Garantit VII, which was marketed in 2008, is a rollover fund of Fonpenedes Garantit Interés Mes Borsa VII, a three-year capital-protected podium structure linked to a basket of six shares which sold over €14.61m back in 2005 and returned 114% (4.47% pa) in August 2008.
These products are available on the Spanish database.