Barrier

Some investment products provide for an additional price threshold below the strike price. If the price of the underlying in the case of reverse convertibles or express bonds does not touch or fall below the barrier at any time during the term or in the observation period specified in the terms of issue, investors receive the nominal amount back on the due date. If the barrier is breached, the risk buffer is lost.

The barrier for a bonus certificate is the price threshold that the underlying asset must neither touch nor fall below during the term so that the bonus mechanism remains intact. If the barrier is violated, the bonus mechanism is suspended and investors are exposed to the full market risk.