You are creating a structured note that promises to pay a U$.$S$.$ dollar $($USD$)$ return equal to the Euro$-$denominated return on a

European stock index. If the spot exchange rate $($USD$/$EUR$)$ is negatively correlated with the EUR price of the index:

Select one

A$.$ The structured note will be worth the current European stock price hedged into USD at the prevailing forward exchange rate.

B$.$ The structured note will have the same value as an otherwise identical note that pays the USD return on the foreign index.

C$.$ The structured note will be worth more than an otherwise identical note that pays the USD return on the foreign index.

D$.$ The structure note will be worth less than an otherwise identical note that pays the USD return on the foreign index.