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Sample Completed Offerings

Claro Advisors acted as Agent




These deals were exclusive to Registered Investment Advisor (RIA) and Claro Advisor Clients

Market-Linked Income Notes

These investments will pay a monthly/quarterly income that is contingent upon the performance of the underlying stock indices .

 Uncapped Barrier Growth Notes 

These investments offer uncapped, enhanced upside participation of a stock index while also offering limited protection from market declines.

 Dual Directional Notes 

These investments offer upside participation of a stock index while also offering an absolute positive return during periods of negative market returns.


 Market-Linked Income Notes

Completed Offerings


Issuing Bank
Tenor Coupon Rate  Coupon pays Underlying Indices Coupon will NOT be paid if ANY underlying index declines more than Principal is at risk if ANY underlying index declines more than at maturity Pricing Date Prospectus
Least Principal Protection: Investor’s Principal is fully protected up to 30% Market Declines at maturity
JP Morgan 21 months 15% monthly S&P500, Russell 2000 Value, Russell 2000 30% 30% 8/6/22 Prospectus
Morgan Stanley 12 months 15.75% Quarterly Nasdaq 100, Russell 2000, S&P500 25% 25% 1/26/2021 Prospectus
JP Morgan Chase 21 Months 15.20% Monthly Russell 2000, Russell 2000 Value, Nasdaq 100 30% 30% 7/8/2022 Prospectus
JP Morgan Chase 21 Months 15.30% Monthly Nasdaq 100, Russell 2000, Russell 2000 Value ETF 30% 30% 6/17/2022 Prospectus
JP Morgan Chase 21 Months 14.40% Monthly Russell 2000, Russell 2000 Value, Nasdaq-100 30% 30% 4/29/2022 Prospectus
CitiGroup 30 Months 16.10% Quarterly Nasdaq 100, Russell 2000, S&P500 30% 30% 3/11/2022 Prospectus
JP Morgan Chase 21 months 13.30% monthly Russell 2000, Russell 2000 Value, 30% 30% 3/4/2022 Prospectus
TD Bank 24 Months 11% Quarterly DJIA, Nasdaq 100, Russell 2000 30% 30% 1/18/2022 Prospectus
TD Bank 18 Months 12.46% monthly S&P500, Nasdaq 100, Russell 2000 Value 30% 30% 11/29/2021 Prospectus
JP Morgan Chase 18 Months 13.25% monthly S&P500, Nasdaq 100, Russell 2000 Value 30% 30% 10/7/2021 Prospectus
Morgan Stanley 18 Months 10% monthly Russell 2000, Nasdaq 100, DJIA 30% 30% 9/29/2021 Prospectus
Bank of Canada 24 Months 11% Quarterly Nasdaq 100, Russell 2000, S&P500 30% 30% 9/14/2021 Prospectus
TD Bank 18 Months 9.28% monthly Nasdaq 100, Russell 2000, S&P500 30% 30% 5/5/2021 Prospectus
Morgan Stanley 30 Months 15.25% monthly Nasdaq 100, Russell 2000, DJIA 30% 30% 10/20/2020 Prospectus
Citigroup 24 Months 10.25% monthly DJIA, Nasdaq, Russell 2000 30% 30% 10/20/2020 Prospectus
More Principal Protection: Investor’s Principal is fully protected up to 40% Market Declines at maturity
MS Finance 15 Months 12% Monthly DJIA, Russell 2000, S&P500 30% 35% 8/4/2020 Prospectus
Morgan Stanley 15 months 12% monthly DJIA, Russell 2000, S&P500 30% 35% 8/4/2020 Prospectus
JP Morgan Chase 21 Months 10.30% Monthly Nasdaq, Russell 2000, Russell Value ETF 30% 40% 2/18/2022 Prospectus
Bank of Montreal 21 Months 14% Quarterly S&P500, Russell 2000, Nasdaq 100 Index 30% 40% 2/2/2022 Prospectus
JP Morgan Chase 21 Months 10.15% Monthly S&P500, Nasdaq 100, Russell 2000 Value 30% 40% 12/8/2021 Prospectus
JP Morgan Chase 21 Months 9.60% Monthly S&P500, Nasdaq 100, Russell 2000 Value 30% 40% 10/7/2021 Prospectus
Barclays 24 Months 11.15% Monthly Nasdaq 100, Russell 2000, S&P500 25% 40% 2/2/2021 Prospectus
Most Principal Protection: Investor’s Principal is fully protected up to 50% Market Declines at maturity
Bank of Montreal 15 Months 12% Monthly Van Eck Gold Miners & Junior Miners 45% 45% 9/29/2020 Prospectus
JP Morgan Chase 21 Months 8.30% Monthly S&P500, Russell 2000, Russell 2000 Value 50% 50% 4/29/2022 Prospectus
JP Morgan Chase 21 Months 11% Monthly Russell 2000, Russell 2000 Value, Nasdaq 100 30% 50% 3/18/2022 Prospectus
JP Morgan Chase 21 Months 9.65% Monthly S&P 500, NASDAQ 100, Russell 2000 30% 50% 10/7/2021 Prospectus
Morgan Stanley 30 Months 8.30% Monthly S&P500, Russell 2000, DJIA 30% 50% 3/5/2021 Prospectus



Uncapped Barrier Growth Notes

Completed Offerings


Issuing Bank Tenor Leveraged Upside % Upside Underlying Indices Barrier Protection Pricing Date Offering Document
BNP Paribas 5 Years 220% Uncapped Vanguard, S&P 500, EEM 30% 1/28/22 Prospectus
BNP Paribas 5 Years 200% Uncapped IJR, IVW, VOT ETFs N/A 1/28/22 Prospectus
BNP Paribas 5 Years 330% Uncapped SX5E, EEM N/A 11/18/21 Prospectus
BNP Paribas 5 Years 180% Uncapped XLI SPDR, XLF SPDR 25% 6/10/21 Prospectus
Morgan Stanley 5 Years 265% Uncapped

SX5E, EEM 

30% 2/10/21 Prospectus
JP Morgan Chase 1 Year 12.65% Uncapped S&P 500, Dow Jones, Russell 2000 30% 6/29/20 Prospectus
Credit Suisse 5 years 250% Uncapped SX5E, EEM 30% 6/18/20 Prospectus
Citigroup 5 Years 200% Uncapped

DJIA, Russell2000, S&P500 

30% 3/27/20 Prospectus



Dual Directional Notes 

Completed Offerings


Bank Issuer Tenor Leveraged Upside % Upside Underlying Indices Positive Returns up to declines of % Pricing Date Offering Document
BNP Paribas 2 Years N/A 24% S&P500 20% 7/22/22 ProsProspectuspectus
BNP Paribas 5 Years 264% Uncapped Material SPDR® Fund (XLB), Vanguard Real Estate ETF (VNQ) 30% 6/30/21 Prospectus
HSBC 5 Years 265% Uncapped XLI, XBI 30% 1/28/21 Prospectus
BNP Paribas 5 Years 264% Uncapped SPDR, Vanguard Real Estate ETF 30% 6/30/21 Prospectus
BNP Paribas 5 Years 160% Uncapped EEM, S&P 500 ETF, Vanguard Tech ETF, T-Sector SPDR 30% 5/20/22 Prospectus
JP Morgan Chase 5 Years 77.5% Fixed Return + 2x over 77.5% Uncapped NDX 100, ARKK ETF 40% 3/23/21 Prospectus
JP Morgan Chase 5 Years 80% Fixed Return + 2x over 80% Uncapped NDX 100 ARKK ETF 40% 3/26/21 Prospectus