Shinsei Bank has launched Nihon-Jikara Yen Deposit, a callable capital-protected ten-year Nikkei225-linked yen time deposit with an initial coupon set at 1.5% gross.A fall in the Nikkei at the observation date each year prompts a 0.25% reduction in annual coupon to a floor of 0.3% per annum; the coupon steps up by 0.25% and triggers early redemption in the year in which the index is at or above its start level. The product will allow customers to make a stable investment in yen, in anticipation