The Certificates Allocation Strategy replicate the profitability, with different allocations, of indexes from the two main financial asset classes, the Stock Market asset class and the Fixed Income asset class, deducting management costs.

The Bloomberg Barclays Euro-Aggregate Corporate Total Return Index is composed by the largest bond issues in Euros from leading companies worldwide, with an Investment Grade (high quality) rating. It is compromised by more than 3100 bond issues, highlighting among the many issuer: BNP, Volkswagen, AT&T, Soc. Gen., Daimler, BMW, Shell, Coca-Cola, Unilever, Bayer and Danone.

The MSCI All Country World Index Net Total Return EUR is a stock index composed by the largest companies worldwide, including 23 developed countries (such as the United States, Japan, the United Kingdom, France, Switzerland and Germany) and 24 emerging countries (namely China, South Korea, Taiwan, India and Brazil). The index has over 3000 firms, for instance: Apple, Johnson & Johnson, Nestlé, Siemens, Bayer, Alibaba and Samsung.

Treasury Bond Certificates monitor the performance of the respective bond, including the reinvestment of interest, deducted from the management cost.

The maturity of the Certificates coincides with the maturity of the OT. If you keep the Certificates until the end of the term, you will receive the performance of the underlying asset, considering a final price of 100, corresponding to the reimbursement value of the obligation, plus the accumulated reinvested coupons and deducted from the management cost. Therefore, the profitability of your investment will correspond to the interest rate implicit in the OT (yield to maturity) deducted from the management cost.

The Certificates are listed on the stock exchange, at Euronext Paris, where Millennium bcp provides liquidity. Therefore, if you want to complete your investment before the end of the product's term, you can sell your Certificates in advance with an Exchange order, with a return depending on the Certificate's sales price, which will depend on the OT price on the market.