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ERSTE Multi Memory Express Bond US Halbleiter (II) 22-27


ISIN:
AT0000A2X0R9
WKN:
EB0F8Q

2022/10/03 17:30:32
Bid Ask
79.45 -
Difference 1.65% (1.30)

General attributes

IssuerErste Group Bank AG
Product typeExpress bonds
TypeMemory
CurrencyEUR
UnderlyingAMD
NVIDIA
Strike Date2022/04/29
Maturity2027/05/02
Coupon/express payment13.500%
Coupon stylevariable
Coupon barrier in %65.00%
Current redemption barrier in %100.00%
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

Underlyings

Underlying Name and ISINCurrencyPrice underlyingCurrent red. barrCurr.red. barr. dist %Final red. barr.Final red. barr. dist %
AMD
US0079031078
USD66.4285.5200-28.76%55.588016.31%
NVIDIA
US67066G1040
USD125.70185.4700-47.55%120.55554.09%
Advantages Risks you should be aware of
  • Chance to earn interest of 13.50 % p.a.
  • Missed interest payments are paid retrospectively, if the closing price of the underlying with the worst performance is at or above the coupon barrier at a later valuation date (memory function).
  • Possible early redemption at 100.00 % of nominal amount in EUR
  • If there was no early redemption and no interest payment during the term, redemption is at 100 % plus 67.50 % at the end of the 5th year, if the closing price of the underlying with the worst performance is at or above the final-redemption-barrier on the last valuation date.
  • Risk buffer (final-redemption-barrier of 65.00 %) 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 5th year, relevant is only the closing price on the last valuation date.
  • Erste Group Bank AG will set quotes 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. 
  • During the term the bond price will not vary 1:1 with the underlyings and premature sale may lead to capital loss.
  • The earnings are capped at 67.50 %, even if the underlyings perform better.
  • This 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.

2022/10/03 17:30:32
Bid Ask
79.45 -
Difference 1.65% (1.30)

General attributes

IssuerErste Group Bank AG
Product typeExpress bonds
TypeMemory
CurrencyEUR
Stock exchangeVIE
UnderlyingAMD
NVIDIA
Issue date2022/05/02
Strike Date2022/04/29
Maturity2027/05/02
Coupon/express payment13.500%
Coupon stylevariable
Coupon barrier in %65.00%
Current redemption barrier in %100.00%
Final redemption barrier in %65.00%
Nominal amount1,000.00
Quantoyes
First trading day2022/05/02
Last trading day2027/04/26

Express bonds | Description

This memory express bond (worst-of) refers to the shares of Advanced Micro Devices Inc. and Nvidia Corp. (underlyings). It offers an interest payment which depends on the performance of the underlyings. 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 underlyings on the last valuation date.

Interest payments: Interest of 13.50 % on the nominal amount in EUR is paid on the annual interest payment date (02/05), if the closing price of all underlyings is at or above the coupon barrier (65.00 % of the strike price) 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 02/05/2027 if there is no automatic early redemption. There is an automatic early redemption, if the closing price of the underlying with the worst performance is at or above the early redemption barrier (100.00 % of the strike price) on one of the valuation dates (24/04/2023, 24/04/2024, 24/04/2025, 24/04/2026). In this case the early redemption amount and the interest amount due at this time are paid.

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

  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 (26/04/2027), the bond is redeemed at 100.00 % of the nominal amount (plus the relevant interest amount).

  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. 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. Furthermore, there is no interest payment at maturity.

Price information

Today open76.95
Today high80.20
Today low76.90
Close (previous day)78.90
Spread in %-
Spread absolute-
Spread harmonised-
High price (52 weeks)100.00
Low price (52 weeks)76.80

Performance

Performance YTD in %-
Performance 1 month in %-7.71%
Performance 6 months in %-
Performance 1 year in %-
Performance 3 years in %-
Performance 5 years in %-
Performance since inception in %-


2022/10/03 17:30:32
Bid Ask
79.45 -
Difference 1.65% (1.30)

Date: 2022/10/03 20:35:54
Underlying Quote
66.4193 USD
Difference +4.83% (3.06)

General attributes underlying

NameAMD
ISINUS0079031078
Stock exchange (underlying)NMS
Currency (underlying)USD
Price66.4193
Time22/10/03 - 20:35:54
Start value underlying85.5200
Strike price85.5200
Coupon barrier55.5880
Current redemption barrier85.5200
Current redemption barrier distance-19.10
Current redemption barrier distance in %-28.76%
Final redemption barrier55.5880
Final redemption barrier distance10.83
Final redemption barrier distance in %16.31%
No of shares for redemption-
Today high66.51
Today low63.39
High price (52 weeks)164.4599
Low price (52 weeks)62.8301


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

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