Objectives
Structured products in their different modalities are obtained a high degree of dissemination and marketing by financial entities and their clients.

Behind these more and more sophisticated products, there are combinations of cash products and derivatives, which together offer benefits with differing degrees of profitability and risk.

The objective of this course is to inform with rigour and detail about the composition of these products and their valuation, as well as the commercial, financial and fiscal implications entailed by their wholesale and retail marketing, among all types of clients.

Participants
Professionals from financial entities who participate in the design, management or marketing of these instruments; personal bank and private bank agents; investment fund and pension fund depositories and agents, financial and fiscal advisors and investors interested in getting to know the benefits of structured products.

Programme

1. Introductory descriptive aspects

- Basics and descriptive characteristics
- Financial innovation and historical evolution
- Issue supports: fund, deposits, bonds, insurance, certificates and contracts
- Underlying individual or combined reference products: interest rate, stock index,
   shares and currencies
- Segmented distribution depending on client typology: advantages and
   disadvantages of structured products

2. Derivative instruments integrated into structured products: description,
     valuation and practical applications

- Forwards and futures
- Swaps
- Organised plain vanilla options or OTC
- Exotic options: characteristics, flow of collections and payments, basic notions
   on valuation, coverage and type of exotic options:   

- Asiatic                       - Forward start                           - Chooser
- Barriers                     - Bermudas                                 - Lookback
- Cliquets                     - Rainbow and baskets               - Binary/digital

3. Practical cases of fixed income and currency structured products

- Floating rate note
- Reverse floaters
- Constant maturity bonds
- Tie Bonds to inflation
- Collared floatear
- Digital ranges
- Snow balls / blades
- Step up amortizable 
- Reference to the derivatives of credit risk
- Convertible Bonds

4. Practical cases of variable income structured products: description,
     commercial presentation, risks, dissection and valuation

- Certificates
- Warrants
- Miscellaneous guaranteed funds
- Reverse convertibles
- Structured deposits
- Additional miscellany of exercises to be solved

5. Fiscal and accounting implications for holder and issuer

- Analysis of taxation for persons and companies.
- Differentiated or joint accounting of fixed part and variable part in structured
   products depending on type of institution
- Legal issue standards

Dates:  February, March or July 


Duration:  24 or 35 hours

Place:  IEF classrooms, Gran Vía, 670, 2º, - 08010 Barcelona