With the certificate 3,25% Europe/Gold Bonus&Safety investors obtain an annual fixed interest rate of 3.5% during the five year term. Redemption at the end of the term (October 2025) depends on the performance of the EURO STOXX 50® indexand the gold price: the certificate is redeemed at 100% (equivalent to EUR 1,000 per nominal value) provided that the two underlyings never lose 51% or more of the respective starting value during the observation period.

If the underlyings touch or undercut the barrier of 49% of the starting value (51 % risk buffer), redemption will be effected according to the performance of the worst performing underlying. The opportunity for yields is in any case limited to the annual fixed interest rate.