Product wrap: SG capital protected play on Euronext climate index, Goldman CLN

EUROPE Apicil collaborated with Morgan Stanley for the launch of Tempo Banques Juin 2023 in France. The six-year life-insurance product is subject to monthly early redemption (after the first year), providing the underlying Eurostoxx Banks Index closes at or above its initial level on any validation date. In that case, it offers 100% capital return, plus a coupon of 0.584% for each month that has passed. At maturity, if the index performance is positive, the product returns a gain of 42.048%. I