Mapfre Caja Madrid Vida has launched its first structured insurance product, having obtained ministry of economy authorisation to operate in the insurance sector. Seguro Líderes Europeos is a four-year growth product in which the investor has two basket options, the first comprising BBVA, Deutsche Telekom and Total and the second comprising Bayer, Gaz de France and Telefónica. This product has a knockout feature whereby if at the second or third anniversary the shares in the basket are at or above their strike levels, the product matures early and pays 108% or 116% capital return, respectively.
Otherwise, it continues to maturity when it pays 124% capital return if all the shares in the basket are at or above the initial level, and repays capital if not. The product is available until 15 March; minimum investment is €3,000.
These products are available now in Recent Additions (Spain).