Video: Investec USD S&P 500 Autocall

In Uncategorized by Simon Brown


The Investec USD S&P 500 Autocall (Autocall) is a 5-year JSE listed investment with potential automatic call dates after year 3, 4 or 5. If the S&P 500 Index (Index) is flat or above the initial index level on one of the automatic call dates it is automatically called paying the investor an enhanced return of 8.00% per annum in Dollars (USD).

If the index is below the Initial Index level over the automatic call date, the product continues to the next call date. If the index closes above the initial level on that date the return is the coupon times the number of years (e.g. 4 x 8.00%).

In addition, the investor receives principal protection on their investment, at maturity, provided the index does not end below the barrier level set at 60% of the Initial Index Level.

This is an inward listed instrument on the JSE, where investors receive the USD return converted back into Rands at the Call Date or Maturity date

Summary of Investec Autocall

  • A 5-year investment linked to the performance of the S&P 500 Index.
  • The Autocall pays an 8.00% return p.a. in USD if the index is flat or above the initial index on an automatic call date.
  • The automatic call dates are in year 3, 4 and at maturity.
  • The maximum return in year 5 would be 5 x 8.00% (40.00%) in USD, converted back into Rands at maturity.
  • 100% downside protection on expiry provided the index does not end below the barrier level (set at 60% of the initial index level).

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