Three products from the company’s H Performance gamma expired early in the first week of January.

Hedios' H Performance 41, which sold €7.3m (US$8.5m) at inception, delivered a 68% gain in four years, while its benchmark index increased only by 22.46% over the same period.

Some 19 products distributed by Hedios have an autocall observation date in 2026

The bond, which was issued on the paper of Citigroup Global Markets Ltd, tracked the Euro iStoxx 50 Equal Weight NR Decrement 5%, which in turn replicated the performance of the Eurostoxx 50 Equal Weight Net Return index while assuming a constant dividend markdown.

The product first struck on 5 January 2022 when the underlying index quoted at 667.42 basis points (bps). By 5 January 2026, its fourth autocall valuation date, the index had risen to 802.71 bps, marking an increase of 22.46%. This gain was sufficient to trigger the knockout feature, with the barrier set at 110%, leading to early redemption and a fixed payout of 68%.

The next product, H Performance 53 (€3.6m), delivered a 22% gain in two years. The 12-year bond tracked the Euro iStoxx 70 Equal Weight Decrement 5% and was issued via the Natixis Structured Issuance vehicle.

The product struck at 1,235.27 bps on 2 January 2024 and by 2 January 2026, its second autocall valuation date, the index had risen to 1,531.92 bps, marking an increase of 24.01%. Once again, the gain was sufficient to trigger the knockout feature, with the barrier set at 105%.

Finally, H Performance 60 (€9.83m), another product with a 12-year maturity, delivered a 14% gain in one year.

The bond was issued via Goldman Sachs Finance Corp International and like H Performance 41, linked to the Euro iStoxx 50 Equal Weight NR Decrement 5%.

Having struck at 689.82 bps on 2 January 2025, the index quoted 797.85 bps on 2 January 2026, its first autocall valuation date, marking an increase of 15.68%, well above the knockout barrier of 110%.

Some 18 structured products distributed by Hedios redeemed early in 2025, according to the SRP France database.

The products, which sold approximately €145m at inception, delivered on average an annualised coupon of 12.90%.

Some 19 products distributed by Hedios have an autocall observation date in 2026. These include four products from the H Absolu gamma, five products from the H Capital gamma, seven products from the H Performance gamma and three products from the H Rendement gamma.

Image: Adobe Stock

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