Abstract
The aim of the paper is to focus on modifications of express certificates. The paper shows the creation techniques of a new express certificate using two-asset correlation options and barrier options, which play the central role in financial engineering. Different possibilities of investment are investigated for the issuers and potential investor's point of view. Methodology of the paper is based on European style two-asset correlation options whose payoff is based on two underlying assets with two strike prices and barrier options. Due to the lack of real-traded two asset correlation options and barrier options, own calculations of option premiums are processed in MS Excel and statistical program R.
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