What is a BonusIn Certificates the bonus is the percentage value that defines the minimum repayment at maturity of the Certificate, if the underlying asset is below the Barrier Level in the planned Valuation Dates. CapFor Certificates this represents the maximum yield obtainable by the investor beyond which it ceases to participate in the changes to the underlying. American 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. End f Day 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.?

BonusIn Certificates the bonus is the percentage value that defines the minimum repayment at maturity of the Certificate, if the underlying asset is below the Barrier Level in the planned Valuation Dates.  American 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. End Of Day Certificates are derivative financial instruments belonging to the category of Conditionally Capital Protected CertificatesCapital protected Certificates are financial instruments that offer the opportunity to invest upward or downward on the underlying financial assets ensuring investor protection at maturity of all or part of the issue price of the Certificate. The level of protection is established in the issue phase.. They can be used to invest in underlying financial assetsThe real or financial asset on which the price of another financial instrument is derived. such as sharesTitle document showing the minimum stake of a shareholder in the share capital of a company that entitles the holder or the Shareholder, to receive a part of the profits eventually distributed by the company and which can confer the right to vote at the shareholders meetings. There are different types of shareholdings depending on the company incorporation and these can be: ordinary, preference or savings., 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.. 

The peculiarity of this type of instrument is the ability to provide the investor a return at maturity through the payment of a premium, the Bonus, if the reference price * or the closing price * 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. asset, resulting from the listingThe term Listing means the admission to the stock market of a security or a financial product. made by the relevant Market (i.e. the Exchange indicated in the relevant Final Terms), has never dropped  below a certain level (the 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. Level) during the Barrier EventIn the case of conditionally capital protected Certificates the Barrier Event is a condition which would be detrimental to the preservation of capital by the investor. This condition is represented by the excess part of the underlying financial asset below a certain level (the Barrier Level) of the price set by the issuer at the time the certificate was issued and appropriately indicated in the official documentation on the instrument. Determination Period. The Barrier EventIn the case of conditionally capital protected Certificates the Barrier Event is a condition which would be detrimental to the preservation of capital by the investor. This condition is represented by the excess part of the underlying financial asset below a certain level (the Barrier Level) of the price set by the issuer at the time the certificate was issued and appropriately indicated in the official documentation on the instrument. Determination Period corresponds to each trading business day starting from the issue dateThe date the financial instrument takes effect from. For example the date a bond is issued and from when interest on the bond starts to accrue. and up to the valuation day of each 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..

Otherwise, if the reference price * or the closing price ** 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. asset, resulting from the listingThe term Listing means the admission to the stock market of a security or a financial product. made by the relevant Market, has been, for at least one trading day during the Barrier EventIn the case of conditionally capital protected Certificates the Barrier Event is a condition which would be detrimental to the preservation of capital by the investor. This condition is represented by the excess part of the underlying financial asset below a certain level (the Barrier Level) of the price set by the issuer at the time the certificate was issued and appropriately indicated in the official documentation on the instrument. Determination Period, below the 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., at maturityExpiry or Maturity is the date a financial instrument ceases to exist or matures. you receive an amount linked to 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. asset, as if you had invested directly in the related 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, up to a predefined amount (the CapFor Certificates this represents the maximum yield obtainable by the investor beyond which it ceases to participate in the changes to the underlying. 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. Amount).

*     if 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. asset is a share traded on Borsa Italiana S.p.A.

** if 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. asset is a share traded on a different market from Borsa Italiana S.p.A.