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Annapurna

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Annapurna
An Annapurna is a kind of mountain Range product, which offers a return equal to the greater of a capital guarantee plus a fixed Coupon  and a participation in the performance of the Underlying basket. The level of the fixed Coupon and of the Participation rate in the performance depends on if and when the worst-performing stock breaches a downside barrier. The later the breach, the higher the fixed Coupon and Equity Participation rate.
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