A protected note that provides one worst-of knock-out coupon at maturity and guarantees a minimum coupon if there is a knock-out- i.e., in the event a knock-out level is broken through. The note will pay a large coupon if no component stock (in the equity basket) falls, at any time, below a predetermined barrier level. The note will be redeemed at maturity at par value (100%).
Altiplano notes belong to the class of equity basket products (specifically, worst-of knock-out notes).
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