Portugal-based Banco Santander Totta has started 2012 with a continuation of its strategy to drive 40% of its issuance with spread option structures offering a minimum capital return at maturity higher than 100% of the initial investment.
So far this year, Santander Totta has marketed two deposits belonging to the series Depósito Indexado "Depósito Valor Conservador". The two deposits are three-year growth products linked to a basket of equity indices comprising the Eurostoxx Food & Beverage, the Eurostoxx Utilities, and the Eurostoxx50 indices. At maturity, the products will return 100% of the initial investment plus 50% of the spread between the performance of the basket and the Eurostoxx50 index over the investment period, subject to an overall minimum capital return of 103.75% and to an overall maximum capital return of 130%.
SRP data shows that Santander Totta, with six spread option-based products, was the only Portuguese structured products provider using spread option-based structures in 2011.
These products are available on the Portuguese database.