Offer Period for Reverse Convertible on Munich Re -Commences
The offer period for the reverse convertible on shares of Munich Re begins today. It ends on January 5, 2005. The reverse convertible bearer bond issued by WestLB AG pays an interest rate of 5% p.a. The total volume of the issue is € 25 million and it is available in denominations of € 5,000. The initial offer price of the reverse convertible is 100%. Payment date is January 14, 2005.
The bearer bond will be redeemed on October 28, 2005 either a) at par (scenario A) or b) by delivery of shares of Munich Re at a strike price still to be determined (scenario B). The number of shares to be delivered and the reference price for the share will be determined on January 6, 2005.
The bearer bond will be listed on the Frankfurt and Stuttgart (EUWAX) Stock Exchanges (“Freiverkehr”).