CAPITAL PROTECTED STRUCTURED PRODUCTS ON RUSSIAN MARKET AND THEIR HIDDEN COSTS

The research examines the estimation of structured products hidden costs on Russianmarket. Hidden are calculated as a difference between notional value product and present all its components. studies conducted European market prove that decrease with expanding increasing number issuers, but increase growing sophistication products. sample consists 174 currently presented Russian market. There capital protected notes participation. underlying assets indexes, stocks, depositary receipts, stocks funds or ETFs. We estimated each these drawing methodology which divides invested into three parts: deposit guarantees protection, call option to obtain part asset growth costs. argue by higher than median It could be explained short period existence low issuers. results obtained used regulators, investors those interested in