Offer Period for WestLB Discount Certificates Begins
WestLB AG, Düsseldorf/Münster, is issuing up to 500,000 discount certificates on shares of Allianz AG. The offer period commences today and ends on September 24, 2003.
Discount certificates offer the investor the opportunity to achieve a return of approx. 6% p.a. in view of the discount. On the maturity date (October 29, 2004) the holder of a discount certificate will receive
- either a cash settlement equivalent to the cap if the closing price of the share on the determination date (October 22, 2004) is quoted equally or above the cap, or
- a number of shares of Allianz AG if the share price is quoted under the maximum amount (cap) fixed on the issue date of the certificate on the determination date.
The ratio is 1:1, i.e. one discount certificate controls one Allianz AG share. The initial selling price, the reference price and the cap will be fixed on September 25, 2003 at 4:00 p.m. Payment date is September 30. 2003. The certificates will be listed on the Düsseldorf, Frankfurt and Stuttgart (EUWAX) Stock Exchanges ("Freiverkehr"). Trading will start on September 26, 2003.