Sensex Leverage Accelerator 108%
Anand Rathi Global Finance Ltd (unrated) · BSE Sensex
Also known as Sensex Leverage Accelerator
You get a 108% return if the Sensex is up 39% over about 5 years. Your original money is protected against falls of up to 20%; below that, losses are geared up.
How well this structure fits each investor profile, derived from its protection, return potential and downside. It is a fit score, not a quality grade. Best fit here: Aggressive.
50% protection cushions the up to 66% downside.
Balances 50% protection with up to 108% upside.
Prioritises up to 108% upside, accepting up to 66% downside.
What is this product
An approximately 5.2-year non-principal-protected debenture on the BSE Sensex (Anand Rathi). It pays a large digital coupon on a strong rally, a smaller coupon in a mid band, protects capital through a wide band, then gears losses in a sharp fall.
- 01If the Sensex is up 39% or more at the observation dates, you earn a 108% coupon (about a 15% IRR).
- 02If the Sensex is up between 32% and 38%, you earn a flat 47% coupon.
- 03If the Sensex ends anywhere between minus 20% and plus 32%, principal is returned with no coupon.
- 04Below a 20% fall, losses are geared (about 1.6x just below the threshold, easing toward one-for-one in a deep crash). Minimum investment ₹1.1 Cr, in ₹1.25 L steps thereafter, with a 365-day lock-in.
The closing Sensex on the primary trade date plus 0.6%, then rounded up to the next 100. The entry is therefore struck above the level on the day.
Average of the closing Sensex on the last Thursday of the 38th, 41st, 44th, 47th, 50th, 53rd and 56th months.
Your return is measured between these two levels, not from the index level on the day you invest. Read both definitions in the term sheet before investing.
Payoff visualisation
Indicative profile of the structure's mechanics at maturity, shown out to a +100% move in the underlying. Not a forecast.
How to read this. The horizontal axis is how far the underlying (the index this note tracks) moves by maturity. The gold line is what this structure pays you at each of those moves. The teal dashed line is break-even. Where the gold line is above it you make money; where it flattens, the return is capped or the capital is protected. For example, read across to a plus 10 percent move on the axis, then up to the gold line to see your return if the index finished 10 percent higher.
Scenario analysis
Illustrative investor return across a grid of underlying-return shocks at maturity, out to +100%. Pre-tax and post-cost; returns are not guaranteed and past performance is not indicative of future results.
| Underlying at maturity | -30% | -20% | -10% | +0% | +10% | +20% | +30% | +50% | +75% | +100% |
|---|---|---|---|---|---|---|---|---|---|---|
| Investor return | -48.0% | +0.0% | +0.0% | +0.0% | +0.0% | +0.0% | +0.0% | +108.0% | +108.0% | +108.0% |
Underlying level history
Closing level of BSE Sensex over time. This is the history of the underlying itself, not the performance of this note.
Level of BSE Sensex. As of the 21 Aug 2026 close. History available from 2 Jan 2008.
In 63% of the 62-month holding windows since Jan 2008, Sensex Leverage Accelerator 108% would have returned more than simply holding BSE Sensex.
Data as of Aug 2026 · updated on the 1st of each month
Each point is one 62-month holding window, plotted at its maturity date; gold is this structure's return, navy is BSE Sensex over the same period, both on the note's own entry and exit convention. Indicative backtest, not a forecast.
| BSE Sensex return | % of windows | Avg BSE Sensex return | Avg structure return |
|---|---|---|---|
| Below 0% | 1% | -6.51% | +0.00% |
| 0% to 10% | 1% | +4.85% | +0.00% |
| 10% to 50% | 19% | +35.13% | +32.10% |
| Above 50% | 79% | +89.33% | +98.76% |
Across 162 rolling 62-month windows with monthly starts, from Jan 2008 to Jun 2021, grouped by what BSE Sensex did over each window. Backtested and indicative; past performance is not indicative of future results.
How often it beat the alternatives
Across every tenor-length window in the underlying's real history, how often this structure would have beaten the simple alternatives, measured on its own entry and exit levels. A historical frequency, indicative, not a forecast or a probability.
Across 162 rolling 62-month windows with monthly starts, from Jan 2008 to Jun 2021, each computed on this note's own entry and exit convention. Inflation uses CPI (World Bank / MoSPI); the fixed-deposit benchmark uses a representative 1 to 3 year bank rate. Indicative and pre-tax; past performance is not indicative of future results.
Downside and drawdown profile
How the structure behaves across the range of the underlying at maturity. Illustrative, not a forecast; returns are not guaranteed.
Product return across the underlying at maturity. Capital is returned across the shaded band; losses gear up only in a deeper fall.
Risk analytics
- Large 108% coupon (about 15% IRR) on a strong rally
- Principal protected across a wide minus 20% to plus 32% band
- Live Sensex underlying and long horizon to clear the hurdle
- No coupon unless the Sensex beats 32% over the term
- Geared losses if the Sensex falls more than 20%
- Unrated issuer, 365-day lock-in and low liquidity
Suitable market conditions
Notes that pay a large fixed reward if the index clears a high bar, protect your money across a wide band, then gear up losses only in a sharp fall.
Documents and downloads
The official term sheet and offer document for this structure are available on request. Always read them before investing.