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Packaged Retail and Insurance-based Investor Products (PRIIPS)
Key Information Documents for PRIIPS
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What the purpose of these examples?
Example Key Information Documents for Packaged Retail and Insurance-based Investor Products (PRIIPS) comprising Foreign Exchange Forwards (deliverable) and Foreign Exchange SWAPs manufactured and sold by Isle of Man Bank to Retail classified customers located in the European Economic Area (EEA).
Your Markets contact will provide you with a Key Information Document prior to trading.
Forward Foreign Exchange
This product is to allow you to exchange an agreed amount of one currency for another currency, for settlement on a pre-agreed date, at a pre-agreed exchange rate.
Foreign Exchange SWAPs
This product is comprised of two foreign exchange transactions. Under the first transaction you agree to exchange an agreed amount of one currency (1) for another currency (2), at a pre-agreed exchange rate, on a pre-agreed date. Under the second transaction, you agree to exchange the agreed amount of currency 2 for currency 1 at a pre-agreed exchange rate, on a later settlement date.