6% Reverse Convertible on Münchener Rückversicherungs AG
WestLB AG, Düsseldorf/Münster, is issuing a 6% bearer bond, reverse convertible on Münchener Rückversicherungs AG. The total volume of the issue is € 25 million. The initial offer price of the reverse convertible on Münchener Rück is 100% and the interest rate is 6% p.a. The issue is available in denominations of € 5,000.
The bonds will be redeemed in accordance with the terms and conditions of the issue at the choice of the issuer on April 23, 2004 either a) at par (scenario A) or b) by delivery of 61 shares of Münchener Rückversicherungs AG per bond with a principal amount of € 5,000 at a strike price of € 81.97. The reference price of the share is € 97.70. The determination date for the redemption of the bond is April 16, 2004. Payment date is October 23, 2003.
The bond will be listed on the Düsseldorf, Frankfurt (Smart Trading) and Stuttgart (EUWAX) Stock Exchanges ("Freiverkehr").