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| Uncapped Call | A return based on a fixed participation in the rise of an underlying market that is uncapped. |
| Uncapped call product | An uncapped call product is a type of structured product in which the return is based on a call option and there is no limit or cap on the potential return.
A typical example would be a product that provided a minimum return of 100% of the sum invested plus 80% of any rise in the FTSE100 index. |
| Uncapped Put | A return based on a fixed participation in the absolute value of the fall of an underlying market that is uncapped. |
| Underlying | All structured products provide a return based on the performance of some underlying price or index. The most popular underlyings used are equity indices such as the FTSE100, S&P500, etc.
Other underlyings however can be baskets of individual shares, indices of house prices, the prices of managed funds including hedge funds, and a variety of other financial assets. |
| Underlying asset | The instrument which the parties agree to exchange in a derivative contract. |
| Unit Trust | An investment fund that issues units for public sale, the holders of which are creditors and not shareholders. |
| Universal Bank | A financial institution that provides a wide range of services for both retail and corporate clients such as retail, commercial and investment banking. |
| Unregistered Note | The note is not registered with the local regulator. |
| Up-and-in down-and-in option | A knock-in option which is activated only once the value of the underlying asset has risen above a predefined upper limit or fallen below a predefined lower limit (the instrikes) during the life of the option (see also: Barrier option). |
| Up-and-in option | A knock-in option which is activated only once the value of the underlying asset has risen above a predefined trigger or barrier (the instrike) during the life of the option (see also: Barrier option). |
| Up-and-out down-and-out option | An option which is terminated once the value of the underlying asset has risen above a predefined upper limit or fallen below a predefined lower limit (the outstrikes) during the life of the option (see also: Barrier option). |
| Up-and-out option | A knock-out option which is terminated once the value of the underlying asset has risen above a predefined trigger or barrier (the outstrike) during the life of the option (see also: Barrier option). |