If the price of the underlying financial instrument of a structured product such as a certificate or turbo reaches the so-called 'knock-out level' (also referred to as the stop-loss level), the structured product will automatically be terminated.
Once a structured product has been terminated, the issuer will take the product off the market and determine if there is any residual value left in the product. If so, this residual value will generally be paid around 5 business days after the termination of the product. Once we have received payment of the residual value, the product will be removed from your portfolio, and the cash will be booked into your account.
If you want to know more about the specific status of a structured product in your portfolio, please visit the website of the issuer and enter the ISIN code of the product in the search bar on their website.
For more information about these types of financial instruments, please visit our Knowledge Centre - What are structured products?.