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The NASDAQ-100 Target 25 Excess Return Index will be used as an underlying index for structured solutions 

Natixis today announced that it has entered into an exclusive licensing agreement with Nasdaq, Inc., one of the world’s leading index providers, for the newly-launched Nasdaq-100 Target 25 Excess Return Index (the “index”). The index aims to address the market capitalization biases of traditional indices and will be used as an underlying index for structured solutions, leveraging Natixis’ deep expertise in this area. The strategy can also be used as a smart beta diversifier for Nasdaq-100 investors.

“Natixis is delighted to partner with Nasdaq in creating a pricing-friendly, rules-based index linked to the Nasdaq-100 universe for structured notes investors,” said Dennis Shikar, Head of Equity Markets Americas at Natixis. “This partnership illustrates our commitment to providing smart and unique equity solutions that will expand our offerings to both our distributors and institutional clients.”

The newly-created index selects 25 of the 100 companies included in the NASDAQ-100 Index. All 25 companies have smaller market capitalizations, are equally weighted, and possess the highest free cash flow yields. It then replicates the performance of the total return version, where dividends are reinvested, and discounts a fixed dividend of 2.5% in order to calculate the excess return.

Price return, total return, net total return, excess return and net excess return versions of the index are available, and the index, which will be rebalanced on a quarterly basis, is calculated in US dollars.

“Today’s announcement demonstrates Nasdaq’s continued efforts in driving index innovation by seeking out great partners to bring new concepts out into the market,” said Dave Gedeon, Head of Index Research & Development, Nasdaq. “We are pleased to have an experienced partner in Natixis with whom to advance this initiative and look forward to updating you on our progress.”

The news was announced at the NASDAQ exchange today, where Natixis rang the opening bell.