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4.50 % ERSTE Multi Fix Coupon Express Bond US Technology 22-26


ISIN:
AT0000A2VCE0
WKN:
EB0F67

2023/09/26 17:25:26
Bid Ask
86.00 -
Difference 0.00% (0.00)

General attributes

IssuerErste Group Bank AG
Product typeExpress bonds
TypeFix Coupon
CurrencyEUR
UnderlyingINTEL
APPLE
Strike Date2022/03/02
Maturity2026/03/03
Coupon/express payment4.500%
Coupon stylefix
Current redemption barrier in %100.00%
Final redemption barrier in %50.00%
Nominal amount1,000.00

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Final TermsPDF Download
Key Information DocumentPDF Download


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Our analysts say...


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

Underlyings

Underlying Name and ISINCurrencyPrice underlyingCurrent red. barrCurr.red. barr. dist %Final red. barr.Final red. barr. dist %
INTEL
US4581401001		USD33.7248.8700-44.95%24.435027.52%
APPLE
US0378331005		USD171.80166.56003.05%83.280051.52%
Advantages Risks you should be aware of
  • Fixed earnings of 4.50 % per year
  • Possible annual early redemption at 100.00 % of nominal amount in euro. 
  • Risk buffer (final redemption barrier of 50.00 %) compared to a direct investment in the underlyings
  • A fall of the share price below the barrier during the term has no influence on the redemption at the end of the 4th year, relevant is only the price on last valuation date.
  • Erste Group Bank AG will set quotes for this product during the term without being legally obliged to do so.
  • The risk of capital loss depends on the underlying with the worst performance (worst-of). For this product with worst-of structure despite several underlyings there is no risk diversification by spreading the market risk as for a conventional basket product; instead there is a risk concentration.
  • If according to the repayment terms shares are delivered upon maturity, there may be losses for the investors. Delivered shares cause additional costs (e.g. security deposit fees. transaction fees upon sale).
  • Investors bear the risk of the issuer Erste Group Bank AG, i.e. the risk of changes of the creditworthiness and the risk of insolvency.
  • The earnings are capped at 18.00 %, even if the underlyings perform better.
  • During the term the bond price will not vary 1:1 with the underlyings and premature sale may lead to capital loss.
  • This 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.

2023/09/26 17:25:26
Bid Ask
86.00 -
Difference 0.00% (0.00)

General attributes

IssuerErste Group Bank AG
Product typeExpress bonds
TypeFix Coupon
CurrencyEUR
Stock exchangeVIE, STU
UnderlyingINTEL
APPLE
Issue date2022/03/03
Strike Date2022/03/02
Maturity2026/03/03
Coupon/express payment4.500%
Coupon stylefix
Current redemption barrier in %100.00%
Final redemption barrier in %50.00%
Nominal amount1,000.00
Quantoyes
First trading day2022/03/03
Last trading day2026/02/24

Express bonds | Description

This express bond refers to the shares of Intel Corporation and Apple Inc. Regardless of the performance of the underlyings, there is an annual interest payment of 4.50 % p.a. The bond will be redeemed on 03/03/2026 if there is no automatic early redemption.

There is an automatic early redemption, if the closing price of both underlyings is at or above the strike price on one of the valuation dates (24/02/2023, 26/02/2024, 24/02/2025). In this case investors receive the respective early redemption amount of 100.00 % of the nominal amount on the early repayment date (03/03).

If the express bond has not been redeemed early, there are two possibilities at maturity:

  1. If the closing price of the underlying with the worst performance is at or above the final redemption barrier on the last valuation date (24/02/2026), investors receive 100.00 % of the nominal amount plus the interest payment of 4.50 % for the final year.

  2. If the closing price of the underlying with the worst performance is below the final redemption barrier on the last valuation date, shares (defined by the ratio nominal amount/strike price, converted to EUR) of the underlying with the worst performance (worst-of) is delivered. In addition the interest payment of 4.50 % for the final year is paid. Since the underlying is quoted in a different currency than the bond, the strike price is converted into the currency of the bond on the basis of the applicable exchange rate on the last valuation date.  The bond is thereby currency-hedged ("quanto"). Fractions of shares are settled in cash in EUR. In this case, there is a capital loss.

Price information

Today open86.75
Today high87.20
Today low86.70
Close (previous day)86.75
Spread in %-
Spread absolute-
Spread harmonised-
High price (52 weeks)90.95
Low price (52 weeks)69.75

Performance

Performance YTD in %+19.75%
Performance 1 month in %+2.85%
Performance 6 months in %+8.44%
Performance 1 year in %+14.76%
Performance 3 years in %-
Performance 5 years in %-
Performance since inception in %-13.25%


2023/09/26 17:25:26
Bid Ask
86.00 -
Difference 0.00% (0.00)

Date: 2023/09/26 21:28:53
Underlying Quote
33.715 USD
Difference -1.68% (-0.57)

General attributes underlying

NameINTEL
ISINUS4581401001
Stock exchange (underlying)NMS
Currency (underlying)USD
Price33.715
Time23/09/26 - 21:28:53
Start value underlying48.8700
Strike price48.8700
Current redemption barrier48.8700
Current redemption barrier distance-15.16
Current redemption barrier distance in %-44.95%
Final redemption barrier24.4350
Final redemption barrier distance9.28
Final redemption barrier distance in %27.52%
No of shares for redemption-
Today high34.78
Today low33.68
High price (52 weeks)40.0681
Low price (52 weeks)24.59
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Information about previous performance does not guarantee future performance.
Source: FactSet

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