Press Release

The Spanish stock exchange to trade the first stock index warrants

13 July, 2016

With 3 and 5 grade short and leveraged strategy

- They add to the 4,000 products already listed on the warrants platform

Tomorrow the Spanish Stock Exchange will admit to trading the first exchange-traded products based on the daily performance of 16 grade 3 and 5 short and leveraged equity indices, linked to the following listed securities: BBVA, Inditex, Santander and Telefonica.

The Leveraged Equity Indices X3 and X5 offer triple and quintuple exposure respectively to the listed stock acting as underlying asset; therefore, a positive daily return of the underlying security also yields a positive return but multiplied by three or five in the index and vice versa, always on a daily calculation basis.

Meanwhile, Short Equity Indices X3 and X5 offer triple and quintuple exposure respectively but in inverse proportion to the listed stock acting as underlying asset; therefore, a negative daily performance of the underlying asset yields a positive return but multiplied by three or five in the index and vice versa, always on a daily calculation basis. Specifically, the indices are the same as the leveraged ones.

In total there are sixteen series of call warrants issued by Société Générale which have a fixed maturity date. Société Générale is acting as liquidity provider throughout the entire trading session. With this warrants issue, the bank expands its range of products listed on the Spanish stock market to over 800.

With these new issues the range of warrants available in the Spanish stock market is broadened – it currently consists of over 4,000 products including warrants, inline, bonus, turbos and multis on a wide scope of underlying assets: national and international shares and indices, currencies and commodities.

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