Certificates are known for one thing in particular: there is a suitable product for almost every risk/opportunity propensity. This applies in particular to the family of bonus certificates. The profiles of the Classic and Capped Bonus Certificates, which benefit from rising and sideways tending markets, were explained in detail in the previous issue. In this issue we present the Reverse Bonus Certificates in more detail. As the name »Reverse« already suggests, Reverse Bonus Certificates benefit from falling or sideways markets.
Like the classic bonus variant, a reverse bonus certificate has a bonus level and a barrier. However, the bonus level in the reverse variant is below the barrier. At the time of issue, the price of the underlying was below the barrier and above the bonus level.
