The Swiss structured product specialist acts swiftly after the SNB’s decision to increase interest rates makes capital protected products a much more attractive proposition.

Leonteq has issued a capital protection certificate on the Swiss average rate overnight (Saron) in Switzerland. The five-year product offers a quarterly coupon equal to 1.25 times the performance of the three-month CHF Saron. At maturity, it returns 100% of the nominal invested. It is the first time a structure on the Saron – an overnight rate based on the Swiss repo market – is seen on the SRP Switzerland database. Billions of Swiss francs are traded each day on the repo market