Geldanlage: Acht bis neun Prozent stabile Rendite im Jahr? Wie neue ETFs das schaffen wollen

Autocallables are structured financial products that promise investors a regular income while also offering potential capital gains. They are typically issued by banks and have a set maturity period along with a fixed coupon. However, the payments are dependent on the performance of a specific underlying asset, such as the S&P 500 index in the United States. The Autocall Level determines when the product will automatically end, usually after a certain percentage increase or decrease in the underlying index.

These products, also known as Express-Zertifikate in Germany, come with two key barriers: a coupon barrier and a capital barrier. If the underlying index falls below the coupon barrier, the regular payments pause until the index surpasses it again. If the index falls below the capital barrier at the end of the product's lifespan, investors receive their initial investment back minus any losses.

Autocallables can be thought of as a bet on a sideways or slightly declining US stock market, as they pay out coupons only when the underlying index does not fall below a certain threshold.