Rabobank in Australia has launched its first retail structured deposit for local investors.
The four-year, principal-protected Cash Deposit takes its name from the equity markets of China, Australia, Singapore and Hong Kong and offers returns based on indices representing these markets.Each year, a coupon between 3% and 12% is awarded depending on the worst-performing of a basket comprising S&P/ASX200, MSCI Singapore Cash, an exchange traded fund (ETF) that seeks to replicate the performance of the Hang Seng Index and an ETF that seeks to replicate the performance of the Hang Seng China Enterprises Index.
“The progression into this business at retail level in Australia is part of an ongoing move to leverage the Rabobank Group’s global strengths and make them available to the local market,” commented Rabobank’s Australia & New Zealand CEO Bruce Dick.
Head of retail structured products, Australia, Keenan Bunning said Rabobank Australia Limited’s AAA credit rating gave it a unique position in the Australian market.
The product is open until 19 May for a minimum investment of AUD20,000 (US$18,844).
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