3 Scenarios

Early knock-out after 1st month = receive 100% notional + eligible coupons

No knockout; underlying is at or above strike on final observation date = receive 100% notional + final coupon

No knockout; underlying is below strike on final observation date = receive 100% notional converted to shares at strike + final coupon

AstraZeneca, Johnson & Johnson and Pfizer Price Performance

The healthcare sector has long been recognized as one of the most reliable defensive industries

Regardless of how the economy performs, hospitals, drugmakers, medical device companies, and other companies in the healthcare industry benefit from steady consumer demand

Short and medium-term CLN ideas with investment-grade companies to offer clients stable and enhanced yields

Min. investment: US$300K; AI only (exemption applies for min. investment of S$200K)

1-Year Healthcare CLNs

3-Year Healthcare CLNs

Outcome 1 (Positive) – No Credit Event

Investor receives quarterly coupons till maturity

Upon maturity, investor receives 100% of principal + final coupon

Outcome 2 (Negative) – Credit Event Occurs

Coupon payments will cease, including the coupon accrued

Investor will receive a Recovery Value, which is determined by Calculation Agent, the issuer, subject to a minimum of zero – calculated by (i) the nominal value, multiplied by redemption factor (ii) minus unwind costs

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