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Garant Bonds

What are Garant Bonds?

The redemption at a predefined level of the nominal amount upon maturity (considering the issuer risk) is the main focus of garant bonds. In addition, garant bonds offer participation in the performance of interesting underlyings and - depending on the bond structure - may have an annual coupon. With one bond a broad and efficient investment in an underlying (e.g. equity index, multi-asset index or theme index) is possible.

How do Garant Bonds work?

At the beginning of the term, the strike price is fixed. The strike price equals the closing price of the underlying. Structures with coupon offer an annual interest payment regardless of the performance of the underlying. Otherwise, there is no continuous coupon payment.

If the underlying instrument goes the expected way, investors participate in its performance. If the bond has a cap, then participation in the development of the underlying is limited by the cap, otherwise it is unlimited. If the underlying goes against expectations, the minimum redemption is according to the predefined level of the nominal amount (usually 90 % or 100 %) upon maturity.

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