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Jargon Buster - U

U.S. Person

A U.S. Person is defined in Regulation S under the U.S. Securities Act of 1993, as amended, or as defined in the U.S. Internal Revenue Code of 1986, as amended.

UK

The United Kingdom, which is made up of four constituent entities: England, Scotland, Wales and Northern Ireland. The UK does not include the Channel Islands or the Isle of Man.

UKSPA

The UK Structured Products Association Limited, an association of structured product providers and promoters who operate in the UK. UKSPA’s mission is to provide quality information and education on Structured Products to the wider investment community.

UKSPA Product Type

UKSPA has identified a range of different structured product types available to UK investors, which are defined by our Product Codes.

UKSPA Risk Rating

The UKSPA Risk Rating is an alphanumeric rating assigned to a structured product that reflects the market and credit risk score of that product at the time of subscription. Please read our guide for more information on how the UKSPA Risk Rating is calculated.

UKSPA (Credit) Risk Rating

The UKSPA Credit Risk Rating is a rating from A to G assigned to a structured product that reflects the credit risk score of that product at the time of subscription. Please read our guide for more information on how the UKSPA Risk Rating is calculated.

UKSPA (Market) Risk Rating

The UKSPA Market Risk Rating is a rating from 1 to 7 assigned to a structured product that reflects the market risk score of that product at the time of subscription. Please read our guide for more information on how the UKSPA Risk Rating is calculated.

Underlyer

The asset or assets that the performance of a Structured Product is linked to. Any price movement in the Underlying will affect the price of the Structured Product during its term, and will determine the maturity value of that Structured Product.

Underlying

Please see 'Underlyer'.

We've put together a glossary of terminology associated with structured products.

While these are standard definitions, it's important that you read the relevant product literature before investing, as providers might use a slightly different definition to those detailed here.

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Representing the collective interests of leading structured product manufacturers in the UK

The UK Structured Products Association ('UKSPA') is a membership organisation established by the leading manufacturers of structured products in the UK. UKSPA provides a unified voice for its members, working with regulators, financial advisers and other trade bodies. It serves a number of important functions, including engaging with regulators, developing best practice guidelines, educating the investment community and providing a useful source of information for manufacturers, financial advisers and retail investors within the UK.

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