Protected Cash Collect are financial instruments, that allow the investor to take position on 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 or equity 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.. They are characterised by the protectionThe term protection means the minimum percentage of invested capital that is returned at maturity. at maturityExpiry or Maturity is the date a financial instrument ceases to exist or matures., in whole or in part, of the value of the issue priceThe Issue price is the price at which a share is offered on the Primary Market. It is determined by the Issuer (or the Placement consortium) in the case of placements for the public retail or for transactions reserved for Institutional Investors the price may be determined by an auction. 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. in the event 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 moves in the opposite direction compared to the expectations of the investor. In addition, there is the possibility for the investor to receive a regular income contingent upon 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 trendThe trend designates the general direction of a market movement. and/or fixed premiums regardless of the trends in 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.