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ERSTE Airbag Memory Express+ Bond on Covestro AG (II) 19-24


ISIN:
AT0000A2B618
WKN:
EB0FTY

2019/11/15 07:58:42
Bid Ask
- 100.00
Difference 0.00% (0.00)

General attributes

IssuerErste Group Bank AG
Product typeExpress bonds
TypeMemory
CurrencyEUR
UnderlyingCOVESTRO
Underlying ISINDE0006062144
Underlying currencyEUR
Price underlying44.87 EUR
Date2019/11/15 17:35:09
Strike Date2019/11/28
Maturity2024/11/29
Strike price-
Coupon/express payment6.000%
Coupon stylevariable
Coupon barrier in %65.00%
Current redemption barrier in %95.00%
Final redemption barrier in %65.00%
Nominal amount1,000.00

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Final TermsPDF Download
Key Information DocumentPDF Download




Performance since inception. Performances under 12 month have only little informative value because of the short maturity. Information about previous performance does not guarantee future performance.
Source: Erste Group Bank AG
Advantages Risks you should be aware of
  • Chance to earn 6.00 % for each year
  • Possible early redemption at 100.00% of nominal amount
  • If there was no early redemption and if there was no interest payment during the term, redemption is at 100.00 % plus 30.00 % at the end of the 5th year, if the closing price of the underlying is at or above the final-redemption-barrier on the last observation day.
  • Risk buffer (final-redemption-barrier of 65.00 %) compared to a direct investment in the Covestro AG share. A fall of the share price below the barrier during the term has no influence on the redemption at the end of the 5th year, relevant is only the closing price on the last observation day.
  • Erste Group Bank AG will set quotes during the term without being legally obliged to do so.
  • If the closing price of the underlying is below the final-redemption-barrier on the last observation day, there are losses for the investors. A total loss of invested capital is possible.
  • During the term the bond price will not vary 1:1 with the underlying and premature sale may lead to capital loss.
  • The earnings are capped at 30.00 %, even if the underlying performs better.
  • Investors bear the risk of the issuer Erste Group Bank AG.
  • This airbag memory express+ bond is not covered by any deposit guarantee scheme. Investors are exposed to the risk that Erste Group Bank AG may not be able to meet its obligations arising from the bond in the event of insolvency or over-indebtedness or from an official order (bail-in regime). A total loss of invested capital is possible.

Secondary market

During the term it is possible to sell the product during the trading hours at the exchanges, where the product is listed.

2019/11/15 07:58:42
Bid Ask
- 100.00
Difference 0.00% (0.00)

General attributes

IssuerErste Group Bank AG
Product typeExpress bonds
TypeMemory
CurrencyEUR
Stock exchangeVIE, STU
UnderlyingCOVESTRO
Underlying ISINDE0006062144
Underlying stock exchangeGER
Underlying currencyEUR
Price underlying44.87 EUR
Date2019/11/15 17:35:09
Issue date2019/11/29
Strike Date2019/11/28
Maturity2024/11/29
Strike price-
Coupon/express payment6.000%
Coupon stylevariable
Coupon barrier in %65.00%
Current redemption barrier in %95.00%
Final redemption barrier in %65.00%
No of shares for redemption-
Nominal amount1,000.00
Quantono
First trading day2019/11/29
Last trading day2024/11/22

Express bonds | Description

This airbag memory express+ bond refers to the share of Covestro AG (underlying). It offers an interest payment which depends on the performance of the underlying. The bond has a term of five years, if there is no early redemption. The redemption at maturity depends on the closing price of the underlying on the final valuation date.

Interest payments: Interest of 6.00 % on the nominal amount is paid on the annual interest payment date (29/11), if the closing price of the underlying is at or above the coupon barrier (65.00 % of the closing price of the underlying on 29/11/2019) on the valuation date. Otherwise, there is no interest payment. If the interest payment has not been triggered at one or several interest payment dates but has been triggered at a later interest payment date, the interest payments of the earlier periods are paid retrospectively (memory function).


Redemption: The bond will be redeemed on 29/11/2024 if there is no automatic early redemption. There is an automatic early redemption, if the closing price of the underlying is at or above the current redemption barrier on one of the valuation dates (23/11/2020, 22/11/2021, 22/11/2022, 22/11/2023). The respective current redemption barrier is in the 1st year 95.00 % of the closing price of the underlying on 29/11/2019, 90.00 % in the 2nd year, 85.00 % in the 3rd year and 80.00 % in the 4th year. In this case the early redemption amount and the interest amount due at this time is paid.

If there is no early redemption the bond will be redeemed at maturity as follows:

1. If the closing price of Covestro AG on the final valuation date (22/11/2024) is at or above the final redemption barrier, the bond is redeemed at 100,00 % of the nominal amount (plus the relevant interest amount);

2. If the closing price of Covestro AG on the final valuation date is below the final redemption barrier, investors receive shares of the underlying. Due to the lower strike price of 65.00 % (= 35.00 % airbag) of the closing price of the underlying on 29/11/2019 a predetermined higher number of shares (defined by the ratio) of the underlying is delivered. Fractions of shares are settled in cash. Furthermore, there is no interest payment at maturity.

Price information

Today open100.00
Today high100.00
Today low100.00
Close (previous day)100.00
Spread in %0 %
Spread absolute-
Spread harmonised-
High price (52 weeks)100.00
Low price (52 weeks)100.00

Performance

Performance YTD in %-
Performance 1 month in %-
Performance 6 months in %-
Performance 1 year in %-
Performance 3 years in %-
Performance 5 years in %-
Performance since inception in %-


2019/11/15 07:58:42
Bid Ask
- 100.00
Difference 0.00% (0.00)

Date: 2019/11/15 17:35:09
Underlying Quote
44.87 EUR
Difference +0.04% (0.02)

General attributes underlying

NameCOVESTRO
ISINDE0006062144
Stock exchange (underlying)GER
Currency (underlying)EUR
Start value underlying-
Price44.87
Time19/11/15 - 17:35:09
Change in %0.04%
Today high45.41
Today low44.23
High price (52 weeks)58.48
Low price (52 weeks)37.30


Information about previous performance does not guarantee future performance.
Source: FactSet

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