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The 7.5% Streaming Reverse Convertible Bond combines two fixed interest payments of 7.5% with a partial safety mechanism for the invested capital down to the barrier of 55%. The interest amount is paid out annually, regardless of the performance of the three underlying (Amazon.com Inc., Netflix Inc. and Spotify Technology S.A.).
The share basket of the Reverse Convertible Bond consists of three market leaders in the streaming industry:
Amazon.com Inc. operates Prime Video, one of the largest video-on-demand platforms, with just over 200 million subscribers worldwide.
Netflix Inc. is currently the world‘s largest video-on-demand provider with over 200 million subscribers.
Spotify Technology S.A. is currently the largest audio streaming service provider with more than 350 million monthly users and nearly 160 million paying subscribers.
If the daily closing prices of the three underlying shares (Amazon.com Inc., Netflix Inc. and Spotify Technology S.A.) always quote above the respective barrier of 55% during the observation period, or if the closing prices of each shares quote at or above their respective strike at the final valuation date, the certificate is redeemed at 100% of the nominal value.
Otherwise, physical delivery of the share with the lowest performance is effected.
Further information as well as the Key Information Document please find on Product Page.
Reverse Convertible Bonds - explained in an easy way
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The Team Structured Products of Raiffeisen Centrobank
