What are Twin Win Certificates?

Twin Win Certificates are financial instruments belonging to the category of Conditional Digital Capital ProtectionThe term protection means the minimum percentage of invested capital that is returned at maturity. Certificates that allow for investment in an underlyingThe Underlying asset is the activity such as a share, stock index currency, commodity or any other real( e.g. raw materials) or financial asset( an exchange rate or interest rate) upon which the value and price of the Certificate is dependent. financial asset such as a share, a stock index, a currencyThe currency is the money the value of a security is expressed in. The term Currency is used to mean the currency in circulation in a given country and which can be taken as a Reference Currency for securities issued in that country. In the banking terms, currency represents the day interest on a certain sum begins to accrue., a commodityThe term commodity essentially indicates a basic good such as, for example, metals, minerals, agriculture and livestock and other physical assets, on which investors can trade through the use of derivatives. or an interest rateThe interest rate measures the cost of a financing transaction and represents the compensation paid to the bank for the loan of a certain amount of money. It is expressed as a percentage and with reference to the year.. One of their main features allows investors, at maturityExpiry or Maturity is the date a financial instrument ceases to exist or matures. and within certain limits set at the time the CertificateCertificates are securitized instrument derivatives linked to the performance of an Underlying, whether, for example, shares, a stock index, a currency, a commodity or an interest rate. Certificate are traded, in Italy, both on the SeDeX as well as on the EuroTL X multilateral trading facilities of the Italian Exchange. was issued, to participate in the performanceThe performance of a financial instrument indicates the percentage change in the value of the same in a given time frame. Performance can be expressed both in absolute and relative terms., in absolute value, ofthe underlyingThe Underlying asset is the activity such as a share, stock index currency, commodity or any other real( e.g. raw materials) or financial asset( an exchange rate or interest rate) upon which the value and price of the Certificate is dependent. asset, whether positive or negative and favourably for the investor. The extent of this participation in the performanceThe performance of a financial instrument indicates the percentage change in the value of the same in a given time frame. Performance can be expressed both in absolute and relative terms. of the underlyingThe Underlying asset is the activity such as a share, stock index currency, commodity or any other real( e.g. raw materials) or financial asset( an exchange rate or interest rate) upon which the value and price of the Certificate is dependent. financial asset is fixed at the time the CertificateCertificates are securitized instrument derivatives linked to the performance of an Underlying, whether, for example, shares, a stock index, a currency, a commodity or an interest rate. Certificate are traded, in Italy, both on the SeDeX as well as on the EuroTL X multilateral trading facilities of the Italian Exchange. is issued. The condition is that the underlyingThe Underlying asset is the activity such as a share, stock index currency, commodity or any other real( e.g. raw materials) or financial asset( an exchange rate or interest rate) upon which the value and price of the Certificate is dependent. at maturityExpiry or Maturity is the date a financial instrument ceases to exist or matures. is worth more than the level set when the CertificateCertificates are securitized instrument derivatives linked to the performance of an Underlying, whether, for example, shares, a stock index, a currency, a commodity or an interest rate. Certificate are traded, in Italy, both on the SeDeX as well as on the EuroTL X multilateral trading facilities of the Italian Exchange. was issued. This threshold level is called the Barrier levelThe Barrier Level in a Certificate is the point at which the investor loses the capital protection of the certificate. and breaching this BarrierIn a Certificate, the barrier is the value or price of the Underlying (called the Barrier Level) that, if reached, the investor loses the capital protection. causes the loss of the capital protectionThe term protection means the minimum percentage of invested capital that is returned at maturity., resulting in a decrease of the investment value for the holder of the CertificateCertificates are securitized instrument derivatives linked to the performance of an Underlying, whether, for example, shares, a stock index, a currency, a commodity or an interest rate. Certificate are traded, in Italy, both on the SeDeX as well as on the EuroTL X multilateral trading facilities of the Italian Exchange..