WestLB Issues Outperformance Certificates on the Dow Jones EURO STOXX 50SM
WestLB AG (WestLB) is for the first time issuing Outperformance Certificates on the Dow Jones EURO STOXX 50SM, which enable the investor to profit from the performance of an underlying index and receive an additional bonus.
Upon maturity the investor participates 100% in the performance of an index comparable to an index certificate. In addition he receives a bonus provided that the index at no time during the observation period trades at or below an agreed price threshold. If the index at no time trades at or below the price threshold of 60% of the initial reference value and at the determination date trades below the bonus level of 140% of the initial reference value, the certificate will be repaid at 140% of its nominal amount. In all other cases the repayment of the certificate will be calculated according to the closing level of the index at the determination date.
WestLB AG is issuing up to 1 million Outperformance Certificates on the Dow Jones EURO STOXX 50SM. The offer period for the certificates runs from July 28, 2003 to August 8, 2003, and the observation period from (and including) August 12, 2003 to (and including) August 7, 2009. Maturity date is August 14, 2009. The bonus level is 140% and the price threshold 60% of the initial reference value.The initial reference value will be determined on August 11, 2003 (record date) on the basis of the closing price of the Dow Jones EURO STOXX 50SM. Closing is August 15, 2003. The certificates will be listed on the Düsseldorf, Frankfurt and Stuttgart (EUWAX) Stock Exchanges ("Freiverkehr").