Noted: November coupon payments

In September 2024 we launched the #noted series dedicated to one of Raison's key products - structured notes. Through regular updates we share important information about structured notes, including coupon payments, payout amounts, and other details.

Semiconductor Sector (SMCI, QCOM, AMD, ENPH)

• Coupon rate: 16% annually
• Investment amount: $100,000*
• ISIN: XS2628855426

In May and August 2024, coupon payments of 4% amounted to $8,000. However, in November, Supermicro (SMCI) shares fell below the coupon barrier. On the November observation date, the Memory Effect was triggered, the coupon was not paid, but "memorized" instead.

The company’s stocks temporarily declined in November. However, after appointing BDO USA as an independent auditor and following a review by a Special Committee supported by external counsel Cooley LLP and forensic accounting firm Secretariat Advisors, LLC, which found no evidence of misconduct by management or the Board of Directors, SMCI stocks began to recover. Supermicro continues to maintain its position as one of the leaders in the AI server market.

Cybersecurity Sector (FFIV, PLTR, CSCO, CRWD)

• Coupon rate: 11% annually
• Investment amount: $100,000*
• ISIN: XS2748047425

In August 2024, a 2.75% coupon payment amounted to $2,750. Over two observation dates (in August and November), the investor earned $5,500. The portfolio value was $105,500.

Minerals Sector (MP, KGC, ALB, RIO)

• Coupon rate: 12.552% annually
• Investment amount: $100,000*
• ISIN: XS2748033474

In August, a 3.138% coupon payment amounted to $3,138. Over two observation dates (in August and November), the investor earned $6,276. The portfolio value was $106,276.

Oil & Gas Sector (857, PBR, VLO, WDS)

• Coupon rate: 10% annually
• Investment amount: $100,000*
• ISIN: XS2794281886

On the November observation date, a 2.5% coupon payment amounted to $2,500. The portfolio value was $102,500.

*Minimum transaction amount.

#Noted — is our ongoing series about the life of structured notes. To learn more about what structured notes are, join the Raison webinar on structured notes via link. And to find out how and why you can restructure a high-risk note or a note whose underlying asset is subject to market, geopolitical, or other risks, watch the Raison webinar.

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