Bonus offer the performance of its underlying asset and, as long as the level of the latter does not reach a determined lower barrier during the lifecycle of the product, the issuer guarantees a minimum selling price or ‘bonus’. Therefore, if the level of the underlying asset reaches this lower barrier, then the Bonus loses its ‘bonus’ guarantee but remains active on the market.

Within this same product category, we also find the so-called ‘Bonus Cap’. These incorporate a limit to the potential upside performance of the product that is placed at the same level of the ‘bonus’ guarantee, whether it is still active or not at its expiry date.