An investor in a structured note linked to a company's shares is a creditor of the ISSUER, not an owner of those shares. It follows that the investor:
Because the note holder is a creditor of the issuer and not an owner of the underlying, they have no direct entitlement to the underlying shares' dividends or voting rights — the underlying only drives the payoff formula.
Assuming a share-linked note confers the ownership rights of holding the shares.
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