Masterclass | September 22, 2026
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Defined outcome products include a range of products designed to provide investors with some level of certainty (a “predictable” outcome if held for the specified period) usually based on a buffer, while providing equity market exposure. In recent periods, defined outcome ETFs have experienced particularly notable growth. While a defined outcome may be offered in any number of formats, attention has centered on the buffered ETF and autocallable ETF markets. With an over 30% growth rate in the last few years, these products may compete with or be complementary to structured notes. They rely entirely on a basket of derivatives to provide their promised return.
Join our training session at the SRP Americas 2026 conference. Our lawyers will provide an overview of:
- The range of products being offered and their structures;
- How these products achieve the intended returns;
- Basics of taxation of a registered investment company;
- The tax structuring issues for investors and how these differ when investing in a registered investment company versus a note;
- SEC registration and disclosure issues for ETFs versus structured notes;
- Indices designed for these ETFs; and
- The role of index providers and hedge providers in these ETFs.