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The 8.5% Insurance Plus Reverse Convertible Bond combines a fixed annual interest interest payment of 8.5% with a partial safety mechanism for the invested capital down to the barrier of 60% of the respective share base price (active only at the final valuation date). The fixed interest rate is paid out in any case.
The share basket of the Reverse Convertible Bond consists of three underlyings in the financial services sector:
- Allianz SE is a German insurance company and is one of the largest in the world.
- AXA S.A. is a French-based insurance company active in the field of financial protection.
- UNIQA Insurance Group AG is a holding company based in Austria that provides insurance products and related services.
The certificate is redeemed at 100% of the nominal value at the maturity date (March 2025), provided that the final value of each underlying at the final valuation date quotes above the respective barrier of 60% (observation only at maturity). This also represents the maximum amount.
If the final value of at least one underlying quotes at or below its respective barrier of 60%, physical delivery of shares is effected. In this case, only the underlying with the worst performance (percentage development from the starting value of each share to the closing price on the final valuation day) is delivered.
Further information as well as the Key Information Document please find on the Product Detail Page.
For any additional information you may require do not hesitate to contact us on +43 1 71707 5454.
The Raiffeisen Certificates Team
