02/12/2003
WestLB AG Issues 5% Reverse Convertible on BASF AG
WestLB AG, Düsseldorf/Münster, is issuing a 5% bearer bond, reverse convertible on shares of BASF AG. The total volume of the issue is € 25 million. The initial offer price of the reverse convertible on BASF AG is 100%. It is available in denominations of € 1,000.
The bonds will be redeemed at the choice of the issuer on June 4, 2004 either at par (scenario A) or by delivery of 30 shares of BASF AG at a strike price of € 33.33 (scenario B). The reference price for the share is € 42.51. The determination date for the redemption of the bond is May 28, 2004. Payment date is December 4, 2003.
The bond will be listed on the Düsseldorf, Frankfurt (Smart Trading) and Stuttgart (EUWAX) Stock Exchanges ("Freiverkehr").