Product wrap: Belfius hits jackpot with CMS steepener, highest sales in 15 years

EUROPE Belfius Bank collected €453m with Active Interest 03/2027 in Belgium. The four-year steepener pays a fixed coupon of 3.35% pa during the first two years of investment. The following years, the annual coupon is equal to two times the difference between the 30-year EUR constant maturity swap (CMS) rate and the two-year EUR CMS rate, subject to a minimum of 2% and a maximum of 3.50%. At maturity, the product returns 100% of the nominal invested. The product is issued via the notes issu