WestLB Issues Capped Outperformance Certificates on SAP AG
WestLB´s Capped Outperformance Certificate on SAP AG, which is issued today, is an attractive investment. The certificate (Sec. No. 699 721, ISIN Code: DE0006997216) offers the investor a number of advantages, including benefiting from price gains on shares of SAP AG, enjoying the advantages of a safety cushion and generating an outperformance in the event of moderate price gains and losses. WestLB is issuing a total of one million certificates. The ratio is 1:1, i.e. one certificate relates to one share of SAP AG.
The investor benefits at maturity from a bonus level (cap) amounting to 111% of the initial reference value (€ 149.21). If the If the SAP AG share at no time during the observation period trades at or below the price threshold of 79% of the initial reference value (€ 106.19), the certificate will be repaid at the bonus level (cap). If the share at least once during the observation period trades at or below the price threshold, the certificate will be repaid by delivery of shares of SAP AG according to the ratio.
The initial reference value was fixed on December 6, 2004 (record date) at € 134.42. Maturity date is January 13, 2006. Payment date is December 10, 2004. The certificates will be listed on the Frankfurt and Stuttgart (EUWAX) Stock Exchanges (“Freiverkehr”).