EFTA Document EFTA01461160

where you owe a payment (318.7k in this 1mm notional example) if lower levels (in this example 99, 98, 97) are touched (American barriers). The structure below is zero cost, includes 3 knock-in payments that would total -5.6%. If the one-touch levels are not touched and the current momentum continues, or if less than three of the one-touch levels are hit, then the at-the-money USDc)PYp you own is less expensive than an outright vanilla USDc)PYp. If all three one-touch levels hit, your call