Reverse Convertible worst of Sector Auto, Bank, Telecom and Oil&Gas

Private Banking

Strong Yen Helps to Fuel Germany’s Export Boom

Reverse Convertible

Your Market Expectations

Underlying	SXAP (Autos), SX7P (Bank), SXKP (Telecom) and SXEP (OIL&GAS)
Strategy	Reverse Convertible worst of
Currency	EUR
Maturity	15 Months
Barrier	75% American Style
Coupon	10.5%

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