WestLB Issues 5% Reverse Convertible on WestLB Open End DAX Index Certificates
WestLB AG, Düsseldorf/Münster, is issuing a 5% reverse convertible bearer bond on WestLB Open End DAX® Index Certificates. The issue has a total volume of € 25 million. The initial offer price of the issue, which is available in denominations of € 1,000, is 100%.
The bonds will be redeemed on August 5, 2004 either at par (scenario A) or by delivery of 34 WestLB Open End DAX® Index Certificates at a strike price of € 29.41 per bond with a principal amount of € 1,000 (scenario B).
On July 29, 2004, the issuer decides whether to choose scenario A or scenario B. The reference rate of the certificates for calculating the initial offer price id € 33.56. The bearer bond carries a global certificate. Value date is August 5, 2003.
The bond will be listed on the Düsseldorf, Frankfurt and Stuttgart (EUWAX) Stock Exchanges ("Freiverkehr").