The 6% Europe Protect Reverse Convertible Bond 2 combines twofixed interest payments of 6% with a partial safety mechanism for the invested capital down to the barrier the barrier of 59%. The interest amount is paid out annually, regardless of the performance of the three underlying shares (Anheuser-Busch InBev N.V., Allianz SE and Koninklijke Philips N.V.).
The share basket of the Protect Reverse Convertible Bond consists of three heavyweights of the European economy:
- Anheuser-Busch InBev N.V. based in Belgium is the world's largest brewery group. The company is known for numerous international beer brands such as Budweiser (American Lager), Corona, Stella Artois, Beck's and Franciscan.
- Allianz SE is one of the world's leading insurance and asset management companies. The group is the market leader in insurance business in Germany and serves 92 million customers in more than 70 countries worldwide.
- The Dutch group Koninklijke Philips N.V. is one of the leading health technology providers. The company employs approximately 78,000 people and operates in more than 100 countries.
The certificate is redeemed at 100% of the nominal value at the maturity date (October 2021), provided that the daily closing price of each of the three underlying shares always quotes above the respective barrier of 59% during the observation period (daily observation).
If one of the barriers is touched or undercut by the daily closing price of at least one of the underlying shares and at least one of these shares closes below its strike at the final valuation date, the predefined amount of the worst performing share is delivered (percentage performance from the starting value to the closing price at the final valuation date).
The issue price amounts to 100 % (nominal value EUR 1,000) within the subscription period. 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 Structured Products Team of Raiffeisen Centrobank