The page you are trying to access This page lists the structured notes currently available through NEBA for financial advisers, wealth managers and discretionary fund managers. Each note in the table below shows its underlying, coupon, barrier levels, term, ISIN and factsheet, so you have decision-grade detail in one place.

Structured notes can play a defined role in a client portfolio, offering returns linked to an underlying market under conditions set out in advance. They are not a substitute for a diversified strategy, and their suitability depends entirely on the individual client. The sections below explain how the notes work, the risks to weigh, and how NEBA supports your suitability assessment.

What are structured notes?

A structured note is a debt instrument issued by a bank whose return is linked to the performance of an underlying, such as an equity index, a basket of shares or another reference asset. Rather than a fixed coupon alone, the return is conditional: it depends on the underlying meeting defined levels, or barriers, over a set term. Common features include income coupons, autocall triggers that can mature the note early, and barriers that determine whether capital is returned in full at maturity.

Because the payoff is defined in advance, advisers can model the likely outcomes across different market scenarios before recommending a note. NEBA’s preferred structures tend to combine measured coupons with conditional protection, but the right choice always depends on the client.

Key risks advisers should assess

• Market and underlying risk: returns and capital depend on how the underlying performs against the note’s barriers.
• Issuer credit risk: a note is an obligation of the issuing bank, so a default could affect returns and capital regardless of how the underlying performs.
• Liquidity risk: notes are designed to be held to maturity and secondary market pricing can be limited.
• Complexity and suitability: payoff structures vary widely, so the note must match the client’s objectives, risk tolerance and capacity for loss.

Assessing suitability for your clients

A structured note is suitable only where it fits the client’s wider portfolio, objectives and attitude to risk. The detail in the table above is intended to support that assessment rather than replace it. Where a note forms part of a portfolio, it is generally most effective alongside a broader investment strategy rather than in place of one.

How NEBA supports advisers

NEBA works with financial advisers, wealth managers and DFMs to access and assess structured notes in context. We can provide current factsheets, explain how a given structure behaves across market scenarios, and help you frame the note within a client’s overall plan. To request a factsheet or discuss suitability for a specific client, contact the NEBA team.

Common questions

What is an autocall note? An autocall note can mature early if the underlying is at or above a defined level on an observation date, returning capital plus any due coupon before the full term.

Are structured notes capital protected? Not necessarily. Some notes offer conditional protection through a barrier, while others place more capital at risk. Each note’s terms set out exactly how capital is treated, so always check the factsheet.

How do worst-of structures work? A worst-of note links its outcome to the weakest performer in a basket of underlyings, which can raise the coupon but also increases risk, since the least favourable asset drives the result.

Important information

Capital is at risk. Structured notes are complex instruments and are not suitable for all investors. Returns and the return of capital are conditional and depend on both the performance of the underlying and the financial standing of the issuer. This page is intended for professional advisers and is for information only. It does not constitute investment advice or a personal recommendation, and advisers remain responsible for assessing the suitability of any note for their clients. Past performance is not a guide to future results.