FTSE MIB Banks ETP
The Boost FTSE MIB Banks ETP provides the performance of the FTSE MIB Banks 15% Capped Net Tax Index, after fees.
- Targeted exposure to the Italian banks in the FTSE MIB benchmark
- Liquid. Trades like an equity on exchange, with multiple market makers (MMs)
- A fully collateralised exchange traded product (ETP), offered as a UCITS eligible debt security
- Given the small number of securities in the index, if any of the constituent securities experience a trading suspension or other disruption, the ETP’s liquidity may be adversely affected. In particular, the ETP may temporarily close for creations and/or redemptions, which may pose significant risks, including the potential for the market price to deviate from the price at which the ETP would otherwise trade, increased volatility and limited ability to trade the ETP on the secondary market.
- The returns payable on the ETP are dependent on payments received from the swap counterparty under the terms of the relevant swap. In the event the swap counterparty defaults, the proceeds from realisation of the collateral may be less than what the investor expects
- Banking stocks in the FTSE MIB can experience very high volatility
- Investment risk is concentrated in the banking sector and Italy
- Please refer to the “Risk Factors” section of the Issuer’s Prospectus
ETP RISK WARNING
The Boost Issuer Plc exchange traded products (ETPs) are only intended for investors who understand the associated risks. The short and/or leveraged products involve numerous risks including general market risks relating to the relevant underlying index, credit risks on the provider of index swaps utilised in the ETPs, exchange rate and interest risks, and for our Delta One products, swap counterparty risk. You should consult an investment adviser who can help determine whether or not the products are suitable for you.
The price of any Shares or the value of an investment in ETPs may go up or down and an investor may not get back the amount invested. Past performance is not a reliable indicator of future performance. This material is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any financial instrument or product or to adopt any investment strategy.
- Price (NAV) (21 Jun 2017) £125.37
- Base/Trading Currency EUR/GBx
- Daily Change (21 Jun 2017) 2.26%
- Leverage Factor N/A
- ISIN IE00BYMB4Q22
- Bloomberg Ticker ITBL LN
- Index Name FTSE MIB Banks 15% Capped Net Tax Index
- Index Bloomberg Ticker FMIBBN
|Further Legal and Tax Information|
|UK Fund Reporting Status||Yes|
|Physical Assets||Yes (Collateral)|
|Replication Method||Fully Collaterised Swap|
|Annual Management Fee Rate||0.35%|
|Daily Swap Rate||0.00108%|
Listings & Codes
|London Stock Exchange|
|Bloomberg Ticker||ITBL LN|
|Listing Date||15 Mar 2017|
|Bloomberg Ticker||ITBL IM|
|Listing Date||28 Nov 2016|
FTSE MIB BANKS 15% CAPPED NET TAX INDEX
The FTSE MIB Banks 15% Capped Net Tax Index (the “Index”) tracks the performance of the FTSE MIB Index constituents classified as “Banks” in accordance with the Industry Classification Benchmark rules. The Index is market capitalisation weighted after adjusting constituents for float, with individual constituent weights capped at 15%. The Index rebalances quarterly in March, June, September and December.
Boost Collateral Details
|Details||21 Jun 2017|
|Collateral Coverage Ratio||105.2%|
|Custodian||State Street Bank Luxembourg S.C.A.|
Boost is an independent boutique Exchange Traded Product (“ETP”) provider and as such it is independent from any investment bank, swap provider, trustee or custodian. Boost ETPs have a robust and transparent collateral structure, which Boost believes offers investors a best of breed counterparty risk model, where investors’ interests are aligned with Boost's.
All rights in the FTSE MIB Banks 15% Capped Net Tax Index (the “Index”) vest in FTSE International Limited (“FTSE”). “FTSE®” is a trade mark of the London Stock Exchange Group companies and is used by FTSE under licence. The Boost FTSE MIB Banks ETP (the "Product”) has been developed solely by Boost Issuer PLC. The Index is calculated by FTSE or its agent. FTSE and its licensors are not connected to and do not sponsor, advise, recommend, endorse or promote the Product and do not accept any liability whatsoever to any person arising out of (a) the use of, reliance on or any error in the Index or (b) investment in or operation of the Product. FTSE makes no claim, prediction, warranty or representation either as to the results to be obtained from the Product or the suitability of the Index for the purpose to which it is being put by Boost Issuer PLC.