Offer Period for 5% Reverse Convertible on DaimlerChrysler AG Commences
The offer period for WestLB´s reverse convertible on shares of DaimlerChrysler AG begins today. It ends on December 16, 2004 subject to early closure. The bearer bond, reverse convertible at the issuer´s option, pays an interest rate of 5% p.a. The total volume of the issue is € 25 million and it is available in denominations of € 1,000. The initial offer price of the reverse convertible is 100%. Payment date is December 23, 2004.
The bearer bond will be redeemed on June 23, 2005 either at par (scenario A) or by delivery of shares of DaimlerChrysler AG 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 fixed on December 17, 2004.
The bearer bond will be listed on the Frankfurt and Stuttgart (EUWAX) Stock Exchanges (“Freiverkehr”).