JBG Income and Equity Accelerator Units Series 30
The JBG Income and Equity Accelerator Units Series 30 (“Units”) are a three year investment that aims to provide investors with the potential to benefit from the growth of Berkshire Hathaway Inc Class B Shares (“Reference Asset”), measured in US dollars.
Features Include:
- Potential for returns at Maturity which are determined by reference to the share price of Berkshire Hathaway Inc Class B Shares (Series 30) over the Investment Term, including the potential for enhanced returns from an increased exposure to the Reference Asset during times of low volatility of the Reference Asset.
- An investment term of approximately 3 years.
- Capital Protection of the Investment Amount at Maturity (note that Capital Protection does not apply to Prepaid Interest, Currency Management Fees (Series 30 only) or the Application Fee.
- Receiving shares in a leading Australian company after Maturity.
- Self-managed superannuation funds (“SMSFs”) are eligible to apply for the Units.
- A variable Participation Rate, with the potential for a maximum of 150% exposure to the Reference Asset, depending on the volatility. The minimum Participation Rate is 0% which means Investors have no exposure to the Reference Asset.
- Contingent Coupons of up to 10.8% p.a. of the Issue Price per Unit paid at the end of each of the first 2 years of the Investment Term, depending on the performance and volatility of the Reference Asset** and the Participation Rate.
- A compulsory Limited Recourse Loan for 100% of the Investment Amount. Interest is prepaid for the full term of the investment. The Interest Rate is 4.95% p.a (14.85% for the full term).
- Exposure to the AUD/USD exchange rate (Series 30). The Currency Management Fee is prepaid for the full term of the investment at 1.1% p.a (3.3% for the full term).
Downloads
Key Risks
- There is no guarantee that the Units will generate returns in excess of the Prepaid Interest, Currency Management Fees (Series 30 only) & Application Fees paid. Additionally, in the event of an Investor requested Issuer Buy-Back, Early Maturity Event or if you elect to repay your Loan before the Maturity Date, you will not receive a refund on Prepaid Interest, Currency Management Fees (Series 30 only) and the Application Fee.
- Capital Protection only applies to the Issue Price at Maturity. Investors may lose their Prepaid Interest, Currency Management Fees (Series 30 only) and Application Fees if the Units do not generate a return.
- There may be no Coupons where the Strategy Value has remained constant or declined over the relevant period. The Coupons are capped at 10.8% of the Issue Price (i.e. $0.108 per Unit).
- The Participation Rates as at the date of the PDS for Series 30 was 90.51%. The minimum Participation Rate is 0% which means investors have no exposure to the relevant Reference Asset.
- Your return is affected by the performance of the Reference Asset. There is no guarantee that the Reference Asset will perform well.
- Gains (and losses) may be magnified by the use of a 100% Loan. However, note that the Loan is a Limited Recourse Loan, so you will never be required to pay more than the Interest, Currency Management Fees (Series 30 only) and Application Fees applicable to the Investment.
- For Series 30, the Performance Coupons and Final Value are subject to movements in the AUD/USD exchange rate and this will affect the amount of the Final Coupon payable. If the AUD/USD exchange rate increases, the Coupon amount will decrease.
Initial Strategy Value
Date
28 June 2013
29 July 2013
28 August 2013
Initial Strategy Value
Strategy Value
100.00
103.279
98.954
100.7444
Final Strategy Value
Date
30 June 2016
Final Strategy Value
123.02589
AUD/USD Exchange Rates
Date
28 June 2013
30 June 2014
30 June 2016
AUD/USD Exchange Rates
$0.91487
$0.9456
$0.74355
Performance Coupons and Final Value
Date
30 June 2014
29 June 2015
30 June 2016
Value
$0.08993# per Unit
$0.10071# per Unit
$1.026488
#Net of performance fees and after conversion to AUD
Series 30 Performance
Date | Indicative Strategy Value | Indicative Unit Value* | Gross Performance |
---|---|---|---|
30-Aug-13 | 98.95 | $1.0000 | -1.78% |
30-Sep-13 | 100.8 | $1.0006 | 0.06% |
31-Oct-13 | 102.02 | $1.0127 | 1.27% |
29-Nov-13 | 103.32 | $1.0256 | 2.56% |
31-Dec-13 | 105.18 | $1.0440 | 4.40% |
31-Jan-14 | 98.25 | $1.0000 | -2.48% |
28-Feb-14 | 101.86 | $1.0111 | 1.11% |
31-Mar-14 | 110.13 | $1.0932 | 9.32% |
30-Apr-14 | 113.58 | $1.1274 | 12.74% |
30-May-14 | 112.96 | $1.1213 | 12.13% |
Coupon Paid. $0.103279 per Unit Gross (USD) | |||
30-Jun-14 | 111.15 | $1.0000 | 10.33% |
31-Jul-14 | 109.48 | $1.000 | 8.67% |
31-Aug-14 | 122.30 | $1.1107 | 21.40% |
30-Sep-14 | 123.20 | $1.1196 | 22.29% |
31-Oct-14 | 124.10 | $1.1286 | 23.18% |
28-Nov-14 | 132.80 | $1.2149 | 31.82% |
31-Dec-14 | 133.90 | $1.2258 | 32.91% |
30-Jan-15 | 128.30 | $1.1702 | 27.35% |
27-Feb-15 | 131.10 | $1.198 | 30.13% |
31-Mar-15 | 128.40 | $1.1712 | 27.45% |
30-Apr-2015 | 125.60 | $1.1434 | 24.67% |
29-May-15 | 126.90 | $1.1563 | 25.96% |
30-June-2015 | 120.20 | $1.000 | 19.31% |
31-Jul-15 | 126.50 | $1.0405 | 25.57% |
31-Aug-15 | 118.90 | $1.000 | 18.02% |
30-Sep-2015 | 114.40 | $1.000 | 13.55% |
31-Oct-15 | 118.30 | $1.000 | 17.43% |
30-Nov-15 | 116.90 | $1.000 | 16.04% |
31-Dec-2015 | 115.60 | $1.000 | 14.75% |
29-Jan-2016 | 114.40 | $1.000 | 13.55% |
29-Feb-2016 | 117.20 | $1.000 | 16.33% |
31-Mar-2016 | 122.00 | $1.0000 | 21.10% |
31-Apr-2016 | 124.40 | $1.0196 | 23.48% |
31-May-2016 | 120.60 | $1.0000 | 19.71% |
6-May-2016 | Matured | Matured | Matured |
* Unit Value: Investors please note this is a theoretical investment maturity value. This investment is designed to be held to maturity. Any investors seeking to redeem prior to maturity may recieve an amount significantly different to the Indicative Unit Value stated.