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The 10% Austria Plus Reverse Convertible Bond 2 combines a fixed annual interest interest payment of 10% 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:
- Erste Group Bank AG, the universal bank with a focus on the private client sector concentrates primarily on the markets of Central and Eastern Europe.
- OMV AG is an integrated, international oil and gas company with activities in the up- and downstream sector.
- voestalpine AG is a leading global technology group in its business areas, focusing on product and system solutions made of steel and other metals.
The certificate is redeemed at 100% of the nominal value at the maturity date (August 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.
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