Banco Santander Totta is pitching a new structure featuring the Eurostoxx Personal & Household Goods Index as the underlying asset for the first time in Portugal's retail market.
Depósito Valor Euro Sectores is a three-year 100% protected growth structure based on a capped call payoff. This product is linked to a basket of two indices comprising the Eurostoxx Food & Beverage Index and the Eurostoxx Personal & Household Goods Index. At maturity, the product will pay out 50% participation in the basket growth, subject to a minimum capital return of 102.25% and a maximum capital return of 122.5%.
The Eurostoxx Food & Beverage Index is a very unusual underlying with only 85 live products linked to this index across all databases. Germany leads the pack with 60 products, followed by Italy with 20 products; Austria with five products; Portugal with three products and France with two products.
According to SRP data, there are 82 products linked to the Eurostoxx Personal & Household Goods Index across all databases, of which 23 products are still live. With the exception of Banco Santander Totta's new product, all live products linked to this underlying have been marketed in Germany (22 products).
The product will strike on 26 June.