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How do I buy a Structured Product on Clarity?

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Written by Julia Pennington
Updated this week

When a Structured Product is advertised, it will contain the following information:

  • Link to the Brochure / Product Factsheet

  • Investment term

  • Closing date: The date by which the Structured Product allocation closes. ie you cannot purchase the Structured Product after this date

  • Listing date: the date at which it will list on the JSE. Your reservation will be executed in the market two days later.

  • Maturity date: the date at which the product expires, and your investment will be realised.

In order to invest in a structured product on Clarity, you can follow the below steps:

  1. Make sure you are in your ZAR account

  2. Search under Structured Products in the Search bar

Once you have selected the structured product you would like to invest in, there will be an Overview screen containing the information, link to the Term sheet, as well as the important dates. If you are happy with the investment, you may continue as follows:

  1. Enter the quantity you would like to reserve (only integers allowed)

    1. The minimum amount you can invest is R1000 (1 unit).

    2. Structured products are only offered with a margin rate of 100%, ie there is no gearing available on these products.

  2. Read and accept the T&Cs

  3. Press “Submit”

Your reservation will now appear under your “Pending Orders”.

Increasing or cancelling your reservation:

  • You can make an additional reservation at any time before the closing date, if you would like to increase your investment in the structured product.

  • You can cancel your reservation before the closing date, should you wish to cancel your investment.

Between closing date and listing date, your reservation will remain under “Pending Orders” in the Dashboard view. You cannot make changes to your reservation in this time.

Listing your reservation:

  • On listing date, the instrument is listed on the JSE. Your reservation will execute in the market two days later and move to your Open Trades.

Trading after listing:

  • After listing date, depending on market liquidity, you can sell as you would a normal instrument on Clarity. If you are trying to sell a larger volume than the market has liquidity for, you may contact the support desk to assist you.

Product maturity:

  • At maturity, your structured product will close and you will realise the return into your Clarity account. Your investment and return will be returned into your wallet.

NB dates: (please note: on Clarity all times are presented in UTC/GMT)

  • Closing date: The date by which the Structured Product allocation closes. Ie you cannot purchase the Structured Product, or cancel existing orders, after this date.

  • Listing date: the date at which it will list on the JSE. Your reservation will be executed in the market two days later.

  • Maturity date: the date at which the product expires, and your investment will be realised.

Communications:

You will receive the following communication relating to your Structured Product investment:

  1. Confirmation of reservation (reservation must take place before closing date)

  2. Confirmation of cancellation (if you cancel your order. Cancellation must happen before closing date)

  3. Confirmation that your reservation has been approved (this will happen after closing date, before listing date).

  4. Confirmation of execution (this will happen two days after listing date once your reservation is listed in the market).

  5. Confirmation of closing / maturity (on or before maturity date, depending on the product terms).

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