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The 9.5% Automobile Plus Reverse Convertible Bond combines a fixed annual interest interest payment of 9.5% 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 automobile sector:
- BMW is a German car manufacturer, which is mainly active in the premium segment.
- Continental has developed from a former tire manufacturer into one of the most important automotive suppliers.
- Volkswagen is the world's largest automaker by sales. The business is divided into the Automotive and Financial Services divisions.
The certificate is redeemed at 100% of the nominal value at the maturity date (May 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
