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Product invests across the 20 highest yielding companies, equally weighted, from the DJ Eurostoxx Dividend select 30 index. Index selection is based on a country specific absolute estimated yield combined with relative to home index yield score.
Main index sectors: 36% financials, 17% in each of communications and utilities.
NAV is hedged to sterling - the hedge is reset quarterly. The final dividend yield may be higher than the targeted return reflecting potential benefits form positive carry. The stocks are re-selected every 2 years when the put is re-set. On average, the covered calls are expected to be struck on a 104-5% premium to the price of the underlying. There is a correlation risk between the put on the basket of shares and the actual value of the underlying securities.