Offer Period for Reverse Convertible on BASF AG Commences
The offer period for the reverse convertible on BASF AG commences today and ends on November 28, 2003. WestLB AG, Düsseldorf/Münster, is issuing a reverse convertible bearer bond on shares of BASF AG paying an interest rate of 5% p.a. The total volume of the issue is € 25 million. The initial offer price of the reverse convertible is 100%. It is available in denominations of € 1,000. Payment date is December 4, 2003.
The bonds will be redeemed at the choice of the issuer on June 4, 2004 either at par (scenario A) or by delivery of shares of BASF AG (scenario B) at a strike price still to be determined. The number of shares to be delivered and the reference price for the share will be fixed on December 1, 2003 at 4.30 p.m.
The bearer bond will be listed on the Düsseldorf, Frankfurt (Smart Trading) and Stuttgart (EUWAX) Stock Exchanges ("Freiverkehr").