Offer Core Express Note 55 of a European issuer

**Admin** Thu Dec 18, 2014 2:28 pm

This product offers a low risk profile and is designed as a fixed income substitute. Historic simulations show that this product would have never missed
full redemption and coupon payments within the last 20 years - no matter which day you started from. The Core Express Note 55 of a European issuer
with excellent rating is a 6year index equity linked autocall product with very low barrier of 55%. It will be redeemed with 100% if all underlying indices
are above 55% at maturity. Otherwise redemption will be reduced by the performance of the lowest index. It pays a memory coupon of 7% p.a. - so any
missed coupons will be paid with the next coupon payment.
Core Express Note 55
Issuer: S&P Rating AA- or equivalent
Term: 6 Years with yearly Autocall
Currency: USD
Underlyings: S&P 500 (SPX), DAX (DAXK), EURO STOXX 50 (SX5E)
Conditional Coupon: 7% p.a. - Memory Coupon
Observation Frequency: Yearly
Autocall Trigger: 100%
Coupon Barrier: Year 1 - 5: 100%; Year 6: 55%
Capital Barrier: 55% at maturity
Reoffer: 99.5%