No wrong on many fronts. For starters.
its not 800mil. That's 200%
They don't make money if the sp is below the strike price in 2028, not unless they short and the short is in the money. 2.25% over 8 years is a very low rate of return if the sp doesn't move higher.
Singapore is the only liquid exchange for these notes, same as apt and xro.
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