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For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


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We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

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You are here:  FE Trustnet     Education    Glossaries    Structured products glossary

Structured products glossary

The payoff types are defined below:

A return based on a fixed coupon at maturity provided none of the assets in the basket have fallen. If, however, a specified number of the elements in the basket did fall then the return is calculated on a different basis, usually by a call type payout. More complicated products offer different participations based on the number of assets which break a predetermined barrier.

A return based on the maximum of a coupon or a participation in the growth of the underlying. The later the assets which make up the underlying cross a predetermined barrier level the higher the participation in the growth of the underlying.

A return based on the best performing asset(s) of an underlying basket. Usually the best performer(s) in a specified period are used to contribute to a final averaged growth value and then eliminated from the underlying basket.

A return based on a percentage of the rise, as well as a percentage of the fall, in the underlying.

A return based on a fixed participation in the rise of an underlying market that is capped at a fixed return.

A return based on the sum of the rise in an underlying market over sub-periods within the product term typically with a cap on the maximum return in each sub-period.

Constant Proportion Portfolio Insurance (CPPI). An investment strategy whereby funds are allocated dynamically between two types of assets, a risky asset (equity, managed funds) and a non-risky asset (cash, bonds). The allocation is determined by a prescribed formula and designed to preserve capital at a future date.

A product linked to the risk of default (credit risk) from usually a basket of companies.

A product paying a fixed return based on the performance of the underlying. Typically if it rises a high fixed return is paid, if not then a lower return is paid.

An income product where the return of capital depends on the underlying not falling below a certain level over the term. Any falls below this level reduce the return to a pre-determined level.

A return based on the actual dividend yield on the underlying index or shares.

A Cliquet product where negative as well as positive returns in each sub-period are included in the calculation of the overall return.

A return based on a sophisticated combination of two or more product types. They include a wide variety of options with non-standard payout structures or other unusual features.

A Reverse Convertible where the participation in any falls in the underlying below a certain level are greater than 1:1.

A feature whereby a product matures early if the underlying reaches a pre-defined level at a pre-defined date.

If the price of the underlying assets rises above a certain threshold level during the product term, investors are then guaranteed a minimum payout at maturity, even if the price subsequently falls. There may be a number of such steps. Investors can therefore lock in the increase in value.

A return based on a proportion of the highest level reached by the underlying during the term.

A product paying a fixed coupon plus the worst of the performance of a basket of underlying shares or indices.

A return based on a series of coupons. The value of each coupon is determined by the number of assets (usually stocks) which meet certain performance criteria. The coupons are rolled up and paid out at maturity.

A return based on the performance of an active trading strategy that allocates funds dynamically been the underlying assets and a lower risk asset such as cash or bonds.

A return on an Income product in which a small fall in the underlying can result in a large reduction on the capital return.

A Growth product that provides a return linked to both the rise and fall in the underlying but typically with a fixed return of capital for a limited fall in the underlying.

A return based on the performance of a basket whose best performing assets are weighted more heavily than those which perform less well. The underlying is typically a basket of sector or regional indices.

A return based on the time that the underlying remains in a fixed range.

An Income product where the return of capital depends on the underlying not falling below a certain level over the term. Any falls below this level reduce the return on a 1:1 basis.

A return based on a fixed participation in the rise of an underlying market that is uncapped.

A derivative contract referenced to the actual historic volatility of a reference share or index.

A return based on a fixed participation in the rise of the underlying, averaged by the final level of the underlying as opposed to the initial level, used in the corresponding standard call option.

A return based on the worst performing share or index in a basket.

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