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Aktieindexobligationer - Prissätts de rättvist?
Karlstad University, Faculty of Arts and Social Sciences (starting 2013), Karlstad Business School (from 2013).
2018 (Swedish)Independent thesis Advanced level (degree of Master (One Year)), 240 HE creditsStudent thesisAlternative title
Equity-Linked Notes - Are they fairly priced? (English)
Abstract [sv]

Aktieindexobligationer har kommit att bli en mycket vanlig sparform i Sverige där marknaden för produkterna ökat explosionsartat de senaste åren. Denna studie redogör för hur produkterna prissätts samt undersöker hur emissionspriset står sig gentemot det beräknade värdet. Syftet med studien är att försöka avgöra om det finns avgifter som inte framhävs av utgivarna av aktieindexobligationerna, d.v.s. om det råder transparens mellan de inblandade parterna. Utgivarna anger ett maximalt årligt löpande arrangörsarvode i informations-broschyrerna vid försäljningen, och i arbetet beräknas om det teoretiska värdet av varje specifik produkt är lika med emissionspriset adderat med angivet maximalt arvode. Resultatet tyder på att det finns betydande skillnader, att arvodet är högre än vad utgivarna anger.

Abstract [en]

Equity-Linked Notes has become a common form of savings in Sweden, were the market for the products has grown exponentially in the most recent years. This study describes how the products are priced and investigates how the issuance price compares to the theoretical value. The purpose of the study is to try to determine if there are any fees that are not stated in the sale of the Equity-Linked Notes, that is, if there is transparency between the parties involved.Publishers specify a maximum annual ongoing fee in the information brochures at the issuance, and in the work, it is estimated that the theoretical value of each specific product is equal to the emission price added with the stated maximum fee. The result indicates that there are significant differences that the fee is higher than the issuer indicates.

Place, publisher, year, edition, pages
2018. , p. 47
Keywords [sv]
Aktieindexobligationer, strukturerade produkter
National Category
Economics
Identifiers
URN: urn:nbn:se:kau:diva-68889OAI: oai:DiVA.org:kau-68889DiVA, id: diva2:1242132
Subject / course
Economics
Educational program
Programme in Business and Economics
Presentation
2018-06-04, 11A223, Universitetsgatan 2, 651 88 Karlstad, Sverige, Karlstad, 12:00 (Swedish)
Supervisors
Examiners
Available from: 2018-08-31 Created: 2018-08-27 Last updated: 2018-08-31Bibliographically approved

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Aktieindexobligationer(802 kB)117 downloads
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Type fulltextMimetype application/pdf

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CiteExportLink to record
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Citation style
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