WestLB Issues 5% Reverse Convertible on DaimlerChrysler AG
WestLB AG is today issuing a reverse convertible on shares of DaimlerChrysler AG. The bearer bond, which is 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 32 shares of DaimlerChrysler AG per bond with a principal amount of € 1,000 (scenario B). In this case the strike price will be € 31.25 subject to an adjustment according to the terms and conditions of the issue. The reference price for the share is € 34.74.
The bearer bond will be listed on the Frankfurt and Stuttgart (EUWAX) Stock Exchanges (“Freiverkehr”).