RIA Ideas - Stack your Chips
Income Note — Semis Basket
Four picks-and-shovels plays on the AI boom.
In a gold rush, the durable money is often in picks and shovels. The AI buildout is this decade’s gold rush — and MU, INTC, AMD and MRVL all sell into it: the memory, processors, and networking the data centers can’t run without. They’ve ripped, and with capex still ramping (Volatility Pulse, 6/14/2026), plenty see more road ahead.
All four are core names in the semiconductor index. So rather than betting on which one wins, a worst-of note pays an outsized coupon as long as none of the four falls more than 50% from here. And if one does, you’re down as much as if you’d put the whole position into just that single stock — no worse, and you’ve banked the coupon along the way.
Four chips from the semiconductor ETF — built to pay unless the worst falls more than 50%
marinelayeradvisors.com/insights
One Way To Express This View
3-Year Semis Income — Worst-of MU / INTC / AMD / MRVL
45% P.A.
Monthly coupon w/ memory · 50% coupon barrier · 50% principal barrier · 100% autocall · non-call 6mo
Pays for any month all four hold at or above half their start, and may autocall from month 7. Upside is capped at the coupon; principal is at risk only if the worst name ends below its 50% barrier.
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This material is for informational purposes only and does not constitute a recommendation. Data sourced from public sources and has not been independently verified. Past performance is not indicative of future results. Structured notes involve risks including potential loss of principal.
