Product wrap: Goldman banks on disruptive innovation

EUROPE Kempen is distributing the VLKWM USD Capped Index Guarantee Note World 21-28 in the Netherlands. The seven-year medium-term note (MTN) protects 90% of the nominal invested and participates 100% in a weighted basket comprising Eurostoxx 50 (50%), S&P 500 (30%) and iShares MSCI Emerging Markets ETF (20%). The performance of the basket is capped at 40%. The product is issued on the paper of Van Lanschot Kempen Wealth Management and the one-off entry costs are expected to be around 1.50%