IT0006779513 · Natixis
1Y INVERSE PHOENIX MEMORY BEST OF AAL UW TUI1 GY A
Reverse structure: the applicable conditions require no underlying to be above the relevant level. Published levels are shown without conversion.
How to read this structure
On the coupon observation dates, the conditional payment requires every underlying to be at or below the published coupon barrier (140% of its initial level).
The next published autocall level is 104% of the initial levels. Automatic redemption depends on every underlying being at or below its applicable level on the observation date. Later levels and dates are listed in the calendar.
These conditions do not describe every feature of the final repayment. The official documents define the complete payoff, costs, issuer risk, and any exceptions.
Underlyings and levels
| Underlying | Strike | Capital barrier | Coupon barrier | Autocall |
|---|---|---|---|---|
| American AirlinesAAL · EUR | 12.61 | 17.654140% | 17.654140% | 13.1144104% |
| TUITUI1 · EUR | 6.812 | 9.5368140% | 9.5368140% | 7.0845104% |
| Air France - KLMAF · EUR | 10.37 | 14.518140% | 14.518140% | 10.7848104% |
| Carnival Corp LtdCCL · EUR | 27.74 | 38.836140% | 38.836140% | 28.8496104% |
Prices and distances require current market data. Open the workspace for market information and your personal tools.
Open in workspace ↗Observation calendars
Coupon observations · 12
| Observation | Level (% of strike) | Payment |
|---|---|---|
| Nov 27, 2026 | 140% | Dec 8, 2026 |
| Dec 28, 2026 | 140% | Jan 7, 2027 |
| Jan 27, 2027 | 140% | Feb 5, 2027 |
| Mar 1, 2027 | 140% | Mar 10, 2027 |
| Mar 30, 2027 | 140% | Apr 8, 2027 |
| Apr 27, 2027 | 140% | May 6, 2027 |
| May 27, 2027 | 140% | Jun 7, 2027 |
| Jun 28, 2027 | 140% | Jul 7, 2027 |
| Jul 27, 2027 | 140% | Aug 5, 2027 |
| Aug 27, 2027 | 140% | Sep 7, 2027 |
| Sep 27, 2027 | 140% | Oct 6, 2027 |
| Oct 27, 2027 | 140% | Nov 5, 2027 |
Autocall observations · 11
| Observation | Level (% of strike) | Payment |
|---|---|---|
| Dec 28, 2026 | 104% | Jan 7, 2027 |
| Jan 27, 2027 | 108% | Feb 5, 2027 |
| Mar 1, 2027 | 112% | Mar 10, 2027 |
| Mar 30, 2027 | 116% | Apr 8, 2027 |
| Apr 27, 2027 | 120% | May 6, 2027 |
| May 27, 2027 | 124% | Jun 7, 2027 |
| Jun 28, 2027 | 128% | Jul 7, 2027 |
| Jul 27, 2027 | 132% | Aug 5, 2027 |
| Aug 27, 2027 | 136% | Sep 7, 2027 |
| Sep 27, 2027 | 140% | Oct 6, 2027 |
| Oct 27, 2027 | 140% | Nov 5, 2027 |