*The IPS Protected Growth Program uses a diversified basket of defined maturity coupon bonds where the coupon is reinvested in the bond pool on a monthly basis. This means the yield to maturity (YTM) and the discount rate are not 100% accurate and may cause tracking error in the notes. Although the PGP contain a diversified portfolio of bonds, they also contain default risk as well as risk to changes in the discount rate.
Any statistics regarding the performance of the PGP are hypothetical. The hypothetical payoff profile is assuming that the investor holds the product for the full duration. If the PGP is liquidated early, results may vary. The hypothetical performance measures are obtained using the best available information at the time of designing the PGP. This is neither an offer to sell nor a solicitation to buy any securities. The exact payoff profile of any product will depend on market conditions when purchasing or selling the underlying assets in the PGP. Please consult an investment advisor before making any investment decisions.
The IPS Protected Growth Program invests in exchange listed options to gain equity market exposure. Options can be highly volatile investments, one should consult a professional before investing in options. The IPS PGP invests in a basket of highly diversified high-yield corporate bonds. The hypothetical payoff profile of the PGP is assuming that none of the debt held defaults. While diversifying the debt has been shown historically to help mitigate default risk, past performance is not a guarantee of future results. If one or more of the companies held in the basket of high yield corporate debt defaults, the performance of the PGP may vary.