Product wrap: Italian private bank collects €112m with MSCI risk-control play

EUROPE Fideuram , the private banking arm of Intesa Sanpaolo, collected €112.4m with the six-year Max Long Cap Certificate in Italy. The capital-protected certificate is issued via Banca IMI and participates 100% in the performance of the MSCI Emerging Markets 9% Risk Control 2% Decrement Index, subject to a maximum return of 136%. The product is listed in Luxembourg. There is a placement commission equal to 2.5% and a structuring cost of 0.30% applies. In Spain, Deutsche Bank accumulated