The Capital Protection Certificate Europe Winner Infrastructure and Stability 105% offers a redemption of 105% (capital protection) at the end of term. There is also the possibility of a higher redemption if the underlying rises strongly. The maximum redemption is 145%.

The clear payout profile at the end of term is already fixed when the certificate is issued. It is suitable for investors who expect the index to rise.

The underlying asset is the MSCI® Europe Infrastructure, Aerospace & Defense Select 4.5% Decrement Index. This index includes 50 European stocks from the infrastructure, aerospace, and defence sectors. Further information on the index can be found on the website of the index provider MSCI® by selecting the index in the drop-down menu.