Nikkei Put Warrants Bringing Innovation to the Retail Level.

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Nikkei Put Warrants Bringing Innovation to the Retail Level

PENs SCPERS BT Counterparty PEFCO $5 mm $5mm + Appreciation 1% Coupon Fixed Undisclosed Flow Appreciation What happens to Tokyo Index?

Nikkei Put Warrants (Bringing innovation to retail) Goldman Sachs Option Premium At Beginning Counterparty Flow Dep Depriciation At Maturity Kingdom of Denmark Public Market Flow Dep

Alternative Plan SCPERS BT PEFCO $5 mm $5mm + App 1% Fixed App Flow App Goldman Sachs Price Flow Dep Kingdom of Denmark Public Market Dynamic Hedge Volatility

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Yield Curve

Inconsistent Gap

Yield Curve