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Case studySouveraineté industrielle

Sold out in 34 seconds: why some structured products go so fast

Some Goliaths structured products are fully subscribed almost before they even open to the public. Here is what actually happened with Souveraineté industrielle, and what it says about how these launches work.

The Goliaths team30 September 20264 min read
Souveraineté industrielle
Souveraineté industrielle, the product sheet. Source: Goliaths.

Souveraineté industrielle

Launched 1 September 2026 · sold out
UnderlyingsSiemens Energy · Aixtron · thyssenkrupp
Coupon16.5%/yr
PaymentQuarterly
Barrier-50%
Term12 months
Envelope€101,000
Investors62

Key points

  1. 94% of the €101,000 envelope was reserved before the product opened to the general public.
  2. The remaining €6,000 went in 34 seconds on opening day.
  3. Nucléaire & Data Centers and Infrastructure énergétique also sold out.
  4. A successful raise proves investor interest, not the product's future performance.

01The product

On 1 September 2026, Goliaths launched Souveraineté industrielle, a structured product built on three names from Europe's reindustrialisation: Siemens Energy, which makes turbines and power-grid equipment, Aixtron, a supplier of machines for the semiconductor industry, and thyssenkrupp, one of the big names in European steel and heavy industry.

The rules are set from the start: a coupon of 16.5% per year, paid quarterly, as long as none of the three shares falls more than 50% below its launch level. Planned term: 12 months. And above all, a raise deliberately capped at €101,000.

02What happened at the opening

Before the product even opened to the general public, most of it was already done: 53 investors had already reserved 94% of the envelope during the early-access phase. On the day of the public opening, only €6,000 was left. It went in 34 seconds.

94%of the envelope reserved before the public opening
34 sto place the remaining €6,000 on opening day
62investors in total on this product
How the €101,000 envelope was filled
Split of the raise between early access and the public opening
Reserved in early accessPlaced at the public opening
≈ €95,000 · 94%
Early access: 53 investors€6,000 · 6% in 34 s
Source: Goliaths data. Early-access amount rounded.

03Not an isolated case

Souveraineté industrielle is no exception. Other Goliaths structured products followed the same pattern this year and sold out: Nucléaire & Data Centers and Infrastructure énergétique. Two years ago, a product still took several days to raise €50,000.

Three recent products, three fully subscribed envelopes
Amount raised per product and number of investors
Infrastructure énergétique116 investors
€120,000
Souveraineté industrielle62 investors
€101,000
Nucléaire & Data Centers115 investors
€100,000
Source: Goliaths data. Each envelope was capped and fully subscribed.

04Why it goes so fast

Two mechanisms combine, and both are built into the launch from the design stage.

Step 1Early access

The most engaged investors in the community get access to the product first, with priority allocation.

Step 2The envelope fills up

Here, 94% of the raise was reserved before the product opened to everyone.

Step 3The public opening

Only a small share of the envelope is left, and it goes in a matter of seconds.

The first mechanism is therefore early access, which absorbs most of the envelope. The second is a deliberately limited envelope: rather than an open-ended raise, each product has a cap, which creates genuine scarcity.

Keep in mindA 16.5% annual coupon is not free. It compensates for a higher risk, tied to shares that can move a lot. If one of the three falls more than 50% at maturity, the capital is reduced by the same amount.

05What to take away

This successful raise is proof of demand, not proof of performance. The product has only just started and its story is still to be written. A fast launch means the product's structure appealed to investors, not that the final return is secured.

Sold out in 34 seconds: a signal of interest, not a promise of results.

Want to know whether this type of product suits your profile?

A Goliaths adviser walks you through how structured products work and helps you work out whether they have a place in your portfolio.