The 7.25% Technology Reverse Convertible Bond combines twofixed interest payments of 7.25% 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 (ASML Holding NV, Infineon Technologies AG and SAP SE).
The share basket of the Reverse Convertible Bond consists of three heavy weights of the European technology sector:
ASML Holding N.V. is a Dutch company and the world's largest supplier of lithography systems for the semiconductor industry. Most international chip manufacturers are customers of ASML.
The German company Infineon Technologies AG is a worldwide leading supplier of semiconductors. The company focuses on energy efficiency, mobility and safety.
The German SAP SE is the biggest European software development company. It is mainly known for its business software solutions.
The certificate is redeemed at 100% of the nominal value at the maturity date (December 2023), 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, solely 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).
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