BASIC SESSION – 20 June and 10 October 2024, 16:00-18:00
Teachers:
Giovanna Zanotti – Scientific Director of ACEPI and Full Professor of Università di Bergamo
Pierpaolo Scanurra – CEO – Certificati e Derivati Certificate: definition and construction mechanism the certificate as a structured package of options, which allows an asymmetry of performance and protection with respect to the underlying financial asset. The role of dividends in certificates
The forgoing of dividends from the underlying financial asset allows for certificates with protection against discounts and performance against price increases The categories of certificates according to ACEPI
• Capital protection certificates
• Capital certificates with conditional protection (protection and performance conditional on the price of the underlying financial asset being maintained above a barrier level)
• Unprotected capital certificates (without protection, but with performance that is even more than proportional to the positive performance of the underlying financial asset)
• Leveraged certificates (positive and negative performance more than proportional to the performance of the underlying financial asset) Capital protection with certificates • Equity Protection and Digital
They offer total protection on the low and performance on the high. The search for performance • Cash Collect
They offer recurring coupon profits over life and at maturity if, at their respective observation dates, the underlying asset is greater than or equal to a pre-set level;
There is a barrier to protect the capital invested. • Express
They offer early redemption, with payment of a fixed amount, if on any of the pre-determined dates the underlying asset is greater than or equal to a pre-determined level;
has a capital protection barrier; maturity redemption premium if the price of the underlying is above or equal to a pre-set level. Taxation and strategies for switch to recovery • Bonus They recognise a maturity premium, provided that the underlying asset has never fallen below a predefined barrier level; participation in the upside of the underlying at maturity; there is a conditional capital protection barrier. • Cash Collect
They offer recurring coupon profits over life and maturity if, at their respective observation dates, the underlying asset is above or equal to a pre-set level; there is a capital protection barrier. • Express
They offer early redemption, with payment of a fixed amount, if on any of the pre-determined dates the underlying asset is greater than or equal to a pre-determined level;
There is a barrier to protect the capital invested;
Maturity redemption premium if the price of the underlying is greater than or equal to a pre-set level. | 
