10.5 % Vaccine Plus Reverse Convertible Bond – available on secondary market

1-year term, fixed interest rate of 10.5% and a barrier set at 50% of BioNTech and Moderna – observation only at the end of the term!

The 10.5% Vaccine Plus Reverse Convertible Bond combines one fixed interest payment of 10.5% with a partial safety mechanism for the invested capital down to the barrier of 50% (only observed at maturity). The interest amount is paid out, regardless of the performance of the twounderlying shares (BioNTech SE and Modern, Inc.).

The share basket of the Reverse Convertible Bond consists of two pharmaceutical companies, successfully launching a vaccine against COVID-19 on the market: 

• BioNTech SE is a German biotechnology company listed on the stock exchange since the end of 2019. Biontech's focus is on mRNA-based drug discovery. As of early 2020, Biontech developed the BNT162b2 vaccine against the human coronavirus SARS-CoV-2, which will be packaged at Pfizer facilities for global use. 
• Moderna, Inc. is a U.S. biotechnology company that specializes in the research and development of mRNA-based drugs. The company's CoV vaccine is also based on this technology and, like Pfizer's, has been shown to provide a high level of protection against infection. 

The certificate is redeemed at 100% of the nominal value at the maturity date (September 2022), provided that the closing price of each of the two underlying shares quote above the barrier of 50% of each respective strike on the final valuation date (observation only at maturity).

If the barrier of 50% of the respective strike is touched or undercut by the closing price of one or both of the underlying shares (BioNTech SE, Moderna, Inc.) 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).

Further information as well as the Key Information Document please find on the Product Detail Page.

Reverse Convertible Bonds - explained in an easy way

For any additional information you may require do not hesitate to contact us on +43 1 515 20-484.

The Structured Products Team of Raiffeisen Centrobank