Frequently asked questions about Certificates

Certificates are securities issued by Millennium bcp that track the performance of underlying assets, denominated in euros. They are listed on Euronext Paris, where they can be traded, with Millennium bcp responsible for providing liquidity.

The broad range of certificates allows for building a diversified portfolio, with exposure to stocks, bonds, and commodities, as well as implementing pre-defined allocation strategies for equity and bond markets.

Certificates can be a suitable option for medium to long-term investments in the equity and bond markets, benefiting from the returns and diversification associated with equity and bond indices. They also allow you to take advantage of short-term fluctuations in these markets or other reference assets, such as commodities.

TThere is no minimum investment amount. You can start investing in certificates by purchasing a single certificate, the value of which depends on its market price.

The price of the certificate reflects the performance of the underlying asset, minus the Management Fee (where applicable). All factors that influence the price of the underlying asset also affect the price of the certificate. These factors can include economic indicators, company results, news indicating political stability or instability, or prospects of economic acceleration or slowdown, such as a global pandemic.

Equity indices: track the performance of a diversified and liquid reference stock index. These indices can be global or regional.

Allocation strategies: track the performance of diversified and liquid reference indices of bonds and stocks, with various risk profiles available corresponding to different allocations between these two asset classes.

Commodities: track the performance of commodities, such as gold.

Treasury bonds: track the performance of a Treasury bond issuance.

Yes, Millennium bcp acts as the liquidity provider for certificates on the stock exchange, allowing you to buy or sell whenever you wish, within trading hours. You can place a sell order at the best available bid price at that moment, and the transaction will be executed automatically. The amount will be credited to your account two days later.

When purchasing a certificate, potential income can arise from asset appreciation. Selling a certificate above its purchase price leads to capital gains, subject to a 28% IRS tax rate. Imagine that you buy 1 BCP S&P500 certificate unit at EUR 28.36 and later sell it at the price of EUR 30.36. This yields a EUR 2 capital gain, taxed at 28%, resulting in a EUR 0.56 tax.

Investing always comes with a risk. Therefore, it's crucial that you understand your investor profile before making any investments. Once you complete the Investor Questionnaire, we will recommend suitable products based on your profile, helping you steer clear of investments that don't align with your comfort level.

This product does not offer any protection against future market performance. The underlying asset of the certificate may rise or fall, and this movement will be reflected in the price of the certificate, meaning you could lose part or all of your investment.

You can follow certificate prices in real time on the Millennium App, on MTrader, and also on the millenniumbcp.pt website.

• A single stock market transaction gives access to the main global equity, bond, and commodity markets in a simple and transparent way
• Investment diversification
• Liquidity provided by Millennium bcp
• Certificates are traded on the Euronext Paris exchange
• Real-time trading and price tracking on the Millennium App, MTrader, and the millenniumbcp.pt website
• Possibility to invest small or large amounts