WestLB AG Issues 6% Reverse Convertible on DaimlerChrysler AG
WestLB AG, Düsseldorf/Münster, is issuing a 6% bearer bond, reverse convertible in shares of DaimlerChrysler AG. The total volume of the issue is € 25 million. The initial offer price of the reverse convertible on DaimlerChrysler AG is 100%. It is available in denominations of € 1,000.
The bond will be redeemed at the choice of the issuer on May 27, 2004 either at par (scenario A) or by delivery of 36 shares of DaimlerChrysler AG at a strike price of € 27.78 (scenario B). The reference price for the share is € 31.93. The determination date for the redemption of the bond is May 21, 2004. Payment date is November 27, 2003.
The bond will be listed on the Düsseldorf, Frankfurt (Smart Trading) and Stuttgart (EUWAX) Stock Exchanges ("Freiverkehr").