| Warrants |
A derivative security that is similar to an option except it is issued by a specific financial institution and is listed on a stock or derivatives exchange. |
| Wealth Management Scheme |
This is the name used in China for a purchase agreement (contract) specifying the investment details (strategy, expected return, term) of a specific type of retail investment product typically sold via local banks. Where the investment is offshore this would encompass QDII products. |
| Whale |
A return based on a fixed participation in the rise of the underlying, averaged by the final level of the underlying as opposed to the initial level, used in the corresponding standard call option |
| Worst-of option |
A worst-of option is an option that is exercisable against the worst performing of a given number of underlying shares or indices. For example a call option on the worst of the FTSE100 and S&P500 would pay out on the index that rose the least during the term of the option. |
| Wrapper |
A wrapper is a term used to describe the form in which a structured product, or any investment product, is sold. Typical structured product wrappers are Individual Savings Accounts (ISA)s, Deposits, Life Bonds, etc. |
