Bank Pekao has snatched the third place on the top five best selling products ranking in Poland this year with a product which was marketed for less than two weeks. Six months Certyfikat Walutowy EUR PLN, linked to EUR/PLN exchange rate, was on sale only for nine working days. SRP has the actual volume raised by the Bank Pekao but as Poland is not a public market it cannot be disclosed.
The product offers a minimum capital return of 100% plus a 10% pa. growth, if the PLN strengthens by at least 0.20PLN versus the euro. During the subscription period, only the indicative value from 0.15 PLN up 0.28PLN was disclosed.
Structured Product manager Slawomir Olszewski told to SRP the factors behind this success are "short tenor, good terms and simple payoff."
It is also the first time the bank has used Modelity Technology's online presentation during the offer period allowing investors to create different scenarios to model a possible outcome.
According to SRP, since the beginning of this year, 56 retail products linked to EUR/PLN with tenor shorter 6 months or less appeared in this market through 7 providers, including Bank Pekao.
This product is available in the Polish database.