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- Al Islami Muthmir
1 yr Islamic Certificate in USD linked to the Crescent Commodity Twister Strategy
Summary Terms:
- Product: A 1 year USD denominated Islamic Certificate seeking 96% capital protection through a Sharia-compliant mechanism and linked to the performance of the Crescent Commodity Twister Strategy. The Strategy is market neutral with a strong performance record.
- Minimum Investment Amount: USD 10,000 minimum with multiples of USD 1,000 thereafter
- Nominal Amount: USD 100 per Certificate
- Investment Period: 1 year
- Reference Strategy: Royal Bank of Scotland Crescent Commodity Twister Strategy (USD). A dynamic Strategy operating on commodities designed to generate positive returns in both bear and bull trending markets.
- Capital Protection: The Islamic Certificate seeks 96% capital protection through a Sharia-compliant mechanism at maturity by ABN AMRO Bank N.V. (owned 100 % by the Royal Bank of Scotland Group PLC).
- Valuation: Weekly (indicative only and are not applicable as early redemption prices)
- Early Redemptions: Bi–monthly Cut-off dates to receive redemption applications are the 10th and 25th (in the same month). If the Cut-off date falls on a holiday, the business day immediately preceding it will apply. The relevant respective pricing dates (in the same month) if the Cut-off dates are met will be the 15th and the last business day of the month. If the 15th falls on a holiday, the business day immediately preceding it will apply.
- Early Redemption Fee: 1% of the redemption amount
- Business Day: Working day in Dubai, U.A.E and London, UK
- Investment Date: Initial Reference Valuation Date
- Distribution at Maturity: Initial Investment amount * (96 % + Average Crescent Commodity Twister Strategy
Performance) Where: Average Crescent Commodity Twister Strategy Performance =
Max [0, (Final Reference Price/Initial Reference Price) – 1]
Initial Reference Price: Level of the Strategy on Investment Date
Final Reference Price: The simple average of the level of the Strategy at the end of each of the four quarters relative to its level on the Investment date - Up-front Fee: 0.5% of the subscription amount
- Issuer of Islamic Certificate: ABN AMRO Bank N.V. (owned 100 % by the Royal Bank of Scotland Group PLC)
- Sole Distributor: Dubai Islamic Bank
- Administrator: Direct Equities and Asset Management Operations, Dubai Islamic Bank
- Sharia Advisor: Fatwa and Sharia Supervisory Board of Dubai Islamic Bank