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Ancoria 4-Year SEK Autocall 5% Fund

17 Jan 2020

Closed for subscription

Objective of the fund

The Fund aims to pay an attractive conditional coupon as well as to offer an early redemption feature determined by the performance of the OMX Stockholm 30 Index. The Fund will invest in structured notes issued by SG Issuer, BNP Paribas Issuance B.V., Natixis Structured Issuance SA, Morgan Stanley B.V., J.P. Morgan Structured Products B.V.
It has a maturity of 4 years and provides conditional capital protection under the circumstances described in the Particular Fund Conditions. 

This is how it works:

For the first three years, the Fund has an early redemption feature whereby, depending on the performance of the OMX Stockholm 30 Index on each annual Autocall Observation Date, the Fund may redeem early and policyholders will receive 100% of their premium invested (less any early surrenders), plus a Conditional Coupon of 5% per year.

At maturity provided that the Fund is not earlier redeemed, both the return and capital guarantee will depend on the closing level of the OMX Stockholm 30 Index on the Final Observation Date. More specifically if the Index closing level is:


  • At or above the Initial Level, policyholders will receive a total return of 20% (5% per annum) plus 100% of the capital. 
  • Below the Initial Level but at or above the Capital Protection Barrier, policyholders will receive 100% of the capital. 
  • Below the Capital Protection Barrier, policyholders will receive their capital reduced by the performance of the OMX Stockholm 30 Index. 


The expected payoff is illustrated in the diagram below:



The fund is suitable for the investor that:
  • Has a neutral to slightly positive outlook for the performance of the OMX Stockholm 30 Index and does not expect a price drop of more than 35% after 4 years (at maturity). 
  • Aims for an attractive conditional coupon. 
  • Is looking for an investment linked with the Swedish equity market. 
  • Can accept a holding period of up to 4 years. 


Risk information
  • Policyholders whose base currency is different to the currency of the Fund will be subject to currency risk. 
  • Policyholders face the possibility of losing a significant portion of the principal amount invested if at maturity the OMX Stockholm 30 Index drops more than 35% from the Initial Level. 
  • Policyholders who need access to all or some of their initial investment before the termination of the Fund, may risk receiving less than their initial investment, subject to market conditions and exit fees. 
  • Should the Fund be redeemed early policyholders have no right to future Coupon payments. 
  • If an issuer and/or its Guarantor (if any) defaults or becomes insolvent, the initial investment and any future Coupon payments may be at risk and policyholders could lose some of their initial investment. 


Ancoria is an established Insurance Company, founded in 1987. The Company services the saving and investment requirements of an extensive list of international clients by specialising in customised and carefully designed Life Insurance Policies that are underpinned by investment opportunities in a wide range of funds, structured products and equity trading.
Customer service
Phone: +357 22 551 300
Fax: +357 22 498 592
Sweden Toll-Free Number:
0200 110 130
Ancoria Insurance
P.O. Box 23415
1683 Nicosia

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