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| Hard Protection | This term is sometimes used to describe a product where the capital protection is provided at maturity regardless of the performance of the underlying. |
| Headline Rate | The annual income being offered for an Income product. For a "Growth and Income" product the rate of interest paid on the income paying element of the product. |
| High Income Product | This is a type of structured product that pays an income that is above the rate of interest available on conventional fixed rate Deposits. |
| Hindsight option | There are two types of hindsight options. The first type pays out at maturity the difference between the strike price and the highest (for a call option) or lowest (for a put option) level of the underlying during the term of the option.
The second type pays out the difference between the lowest (for a call) or highest (for a put) level of the underlying and the final level of the underlying. In this case essentially the option’s strike price is set at maturity to be the highest or lowest level of the underlying during the term. This feature is sometimes incorporated in structured products as a means of determining the final index level. Thus some products will use the highest or lowest level of the index during say the last few weeks of the products term in determining the final index level to be used in calculating the final return. Finally a hindsight option is also sometimes called a Lookback option. |
| Historic Volatility | The historic volatility of a share or index is simply a mathematical measure of its variability during a given historical period, for example the last 3 months.
The most common form of measure is the standard deviation of the daily returns. Historic volatility is usually quoted as a percentage figure and is simply a means of measuring the relative riskiness, in terms of price variability, for different shares, indices, assets, etc. Thus a share or index with a higher historical volatility, such as the Nasdaq100, will be regarded as more risky than one with a lower volatility. |
| Hybrid | Underlying is a mixture of different Asset Classes |