EFTA Document EFTA01456721

5. Higher dividends (lower forwards) and lower volatility makes the underlying optionality in the trade cheaper leading to a leveraged upside participation Risks 1. Counterpart Risk 2. Mark-to-Market Risk 3. Risk of rising Libor Rates Payoff Comparison at Maturity 30% 25% 20% 15% 10% 5% Index Long Only 0% Structure 5% ggegA 71 71 t i 4 g 44 gggOR Q ggg 4-I -10% -15% -20% -25% Index performance comparison vs benchmarks - Higher returns and lower volatility than