Express Autocallable CERTIFICATES

For information about this structure, please have a look at the presentation (in Italian language only).

INVERSE AUTOCALLABLE CERTIFICATES

For information about this structure, please have a look at the presentation (in Italian language only).

LOW STRIKE AUTOCALLABLE CERTIFICATES

For information about this structure, please have a look at the presentation (in Italian language only).

Floored Autocallable CERTIFICATES

For information about this structure, please have a look at the presentation (in Italian language only).

TWIN WIN CERTIFICATES

For information about this structure, please have a look at the presentation (in Italian language only).

TWIN WIN Autocallable CERTIFICATES

For information about this structure, please have a look at the presentation (in Italian language only).

Triparty Collateral Management (TCM)

How it Works

The TCM Collateral Management Setup allows investors to actively reduce issuer risks associated with unlisted investment products. Within the TCM Setup, the issuer of the unlisted investment product posts specific collateral with SIX Securities Services, acting as collateral manager, that is used to cover obligations to investors in the case of insolvency event (e.g. default, restructuring, liquidation etc.) or under-collateralization. Within the TCM Setup, specific collateral is earmarked to each specific investment product and serves as collateral for only this specific investment product.

As the administrator, SIX Securities Services is completely independent from the issuer. It takes collateral from the issuer according to a specific collateral schedule, earmarks the specific collateral to a specific investment product and regularly tracks the value of both, the issued product as well as the associated pledged specific collateral.

TCM Structure
*TCM Structure

Investor compensation

In the event of an under-collateralization where more collateral is necessary to cover the specific obligations, the Collateral Manager transfers additional collateral from the issuer into the segregated TCM account to ensure continued and sufficient collateralization.

Eligible collateral is defined by the eligible collateral schedule. In relation to a specific issued product it consists of liquid collateral and/or securities that possibly underlie the specific issued product as described in the relevant Termsheet.

In the event of an issuer insolvency event (like a default) or the under-collateralization of a specific product where the coverage requirement is not met within 5 business days after SIX SIS Ltd has notified the issuer, the specified collateral will be liquidated based on a notification of the collateral agent.

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