InsuranceMatured
Allstate · Lemonade · Progressive
BNP Paribas · Mar 2025
6 months · monthly coupon16.92%
6 months · monthly coupon16.92%
Three ways to turn equities into fixed income.
Every note we arrange pays a coupon linked to one stock, a basket of unrelated stocks, or a theme. What the bank pays you depends on four things you choose, and one the market sets.
What sets your coupon
You choose
Duration
6 months to 5 years. Longer notes usually pay a little more each year.
You choose
Protection
0% to 50%: how far the stock can fall before your capital is at risk. More protection, lower coupon.
You choose
Amount
Larger tickets can be priced just for you as a private placement.
You choose
Strategy
One stock, several unrelated stocks, or a theme. Baskets pay more because the weakest stock decides.
The market sets
Volatility
The more a stock moves, the more banks pay for the option you sell them. High-volatility stocks pay the highest coupons.
Strategy 1
Model estimate · not a bank quoteSingle equity
The note follows one stock or fund, for example Nvidia. Pick the duration, protection and amount, and see the indicative coupon for the ten stocks our clients ask about most.
Duration
The stock can fall 30% before your capital is at risk at maturity (barrier at 70%).
AmountAvailable through notes the banks already have on the shelf.
Market volatilityTypical volatility for each stock.
| Stock | Volatility | Duration | Protection | Indicative coupon p.a. |
|---|---|---|---|---|
| Palantir PLTR | 65% | 1 year | 30% | 16.5% |
| Tesla TSLA | 60% | 1 year | 30% | 15.5% |
| AMD AMD | 52% | 1 year | 30% | 13.9% |
| Nvidia NVDA | 50% | 1 year | 30% | 13.5% |
| Meta Platforms META | 37% | 1 year | 30% | 10.9% |
| Netflix NFLX | 36% | 1 year | 30% | 10.7% |
| Amazon AMZN | 33% | 1 year | 30% | 10.1% |
| Alphabet GOOGL | 31% | 1 year | 30% | 9.7% |
| Apple AAPL | 26% | 1 year | 30% | 8.7% |
| Microsoft MSFT | 24% | 1 year | 30% | 8.3% |
Past launch · single equity
Super Micro Computer
Marex · launched Mar 2025 · 5 years · monthly coupon
17.21% p.a.
Indicative coupons come from our simplified model using typical implied volatility for each stock. They are not quotes. Real coupons depend on the issuing bank, the exact barrier and autocall terms, rates and volatility on the day of pricing.
Strategy 2
Multiple equity
A basket of unrelated, usually high-volatility stocks. The note follows the worst performer, so the coupon is higher than for any one of them alone, and so is the risk.
| Basket | Issuer | Launched | Duration | Coupon paid | Status | Coupon p.a. |
|---|---|---|---|---|---|---|
| Coinbase · Robinhood · Upstart | BNP Paribas | Mar 2025 | 6 months | Monthly | Matured | 17.16% |
| Lemonade · Unity · Upstart | BNP Paribas | Aug 2025 | 6 months | Monthly | Matured | 15.60% |
| Alphabet · Meta · Nvidia · Super Micro | Marex | Aug 2025 | 5 years | Quarterly | Running | 14.50% |
| Monday.com · The Trade Desk · Salesforce | Marex | Sep 2025 | 5 years | Monthly | Running | 13.01% |
| Cloudflare · Palantir | BNP Paribas | Jan 2025 | 7 months | Monthly | Matured | 10.80% |
Strategy 3
Themes
A basket built around one idea: cybersecurity, big tech, precious-metal miners, global brands, Brazil, energy. You express a view and earn a coupon while you wait.
Precious-metal minersRunning
Newmont · Pan American Silver · First Majestic
Marex · Dec 2024
3.4 years · monthly coupon14.10%
3.4 years · monthly coupon14.10%
CybersecurityRunning
Okta · SentinelOne · CrowdStrike
Marex · Apr 2025
5 years · quarterly coupon13.77%
5 years · quarterly coupon13.77%
BrandsRunning
On Holding · Abercrombie & Fitch
Morgan Stanley · Jul 2025
5 years · quarterly coupon13.75%
5 years · quarterly coupon13.75%
BrandsRunning
Adidas · On Holding · Nike
Marex · Apr 2025
5 years · quarterly coupon13.50%
5 years · quarterly coupon13.50%
China internetRunning
Baozun · JD.com · KraneShares China Internet
BNP Paribas · Jul 2025
3 years · monthly coupon13.08%
3 years · monthly coupon13.08%
Big techRunning
Amazon · Alphabet · Meta
Marex · Apr 2025
5 years · quarterly coupon12.72%
5 years · quarterly coupon12.72%
Precious-metal minersRunning
First Majestic · Pan American · AngloGold · Newmont
Marex · Jul 2025
5 years · monthly coupon12.00%
5 years · monthly coupon12.00%
Steel & materialsRunning
Nippon Steel · Alcoa · Nucor
BNP Paribas · Aug 2025
3 years · quarterly coupon11.56%
3 years · quarterly coupon11.56%
Steel & materialsRunning
Nucor · Alcoa · US Steel
Morgan Stanley · Mar 2025
4 years · monthly coupon11.45%
4 years · monthly coupon11.45%
EnergyRunning
Petrobras · Marathon Petroleum · US Oil Fund
Marex · Feb 2025
2 years · monthly coupon11.28%
2 years · monthly coupon11.28%
BanksRunning
Nu Holdings · Bradesco · ING
Marex · Jul 2025
5 years · quarterly coupon11.00%
5 years · quarterly coupon11.00%
Leisure & travelRunning
Six Flags · Caesars · Wynn · Airbnb
Marex · Mar 2024
5 years · monthly coupon10.85%
5 years · monthly coupon10.85%
BrazilRunning
Vale · iShares MSCI Brazil · Itaú
Marex · Apr 2025
5 years · quarterly coupon10.43%
5 years · quarterly coupon10.43%
Past launches arranged for our clients. Coupon per year is calculated from the coupons actually paid; barrier, autocall and protection levels are in each note's final term sheet. Past coupons are not a guide to future offers.
Have a stock or theme in mind?
Tell us the stocks, duration and protection you want. We'll ask our partner banks for live pricing.