The SSPA categorization model consists of three hierarchy levels. On the top level the model distinguish investment products from leverage products. These two main categories are made up of five product categories on the second level, ranging from the low-risk capital protection products to the higher risk leverage products with knock-out. On the third hierarchy level, each of these five product categories comprises a number of specific product types. These product types illustrate how a single structured product functions by means of its respective payoff diagram. The descriptions also provide further information on the investor's market expectations as well as product-specific characteristics.
