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.

The Treasury Bond Certificates replicate the behavior of the October 2025 Treasury Bonds (OT Out2025), including the reinvestment of the coupon, less the cost of managing the product.

The maturity of the Certificates coincides with the maturity of the TB. If you hold the Certificates until maturity, you will receive the performance of the underlying asset, taking into account a final price of 100, corresponding to the bond's redemption value, plus the accumulated reinvested coupons and less the Management Cost. Thus, the return on your investment will correspond to the interest rate implicit in the OT Out2025 (yield to maturity) deducted from the Management Cost.

The Certificates are listed on the Euronext Paris stock exchange, where Millennium bcp will provide liquidity for this product. So, if you want to end your investment before the product matures, you can sell your Certificates in advance with a Stock Exchange order, with a return depending on the sale price of the Certificate, which will depend on the price of OT Out2025 on the market.