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Erste Group Participation certificate SILVER Future Open end


2021/05/07 17:29:19
Bid Ask
22.52 22.57
Difference -1.10% (-0.25)

General attributes

IssuerErste Group Bank AG
Product typeIndex/Participation Certificates
UnderlyingSILVER Future
Current underlyingSILVER Future JUL21
Price underlying27.50 USD
Date2021/05/07 17:40:06
Last rollover2021/04/26
Expected next rollover2021/06/24
MaturityOpen end
Management fee0.00%

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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
  • Investors benefit from the performance of the Silver Future.
  • As the Silver Future is quoted in US Dollar, a stronger US Dollar against the Euro has a positive effect on the price of the Euro-denominated certificate.
  • Ongoing tradability on each exchange trading day.
  • Physical delivery of silver is not possible.
  • The underlying is the Silver Future. Futures may perform differently than the spot market.
  • As the Silver Future is traded in US Dollar, but the certificate is quoted in Euro, exchange rate changes affect the certificate. Capital losses can occur even if the underlying asset rises.
  • Due to the monthly roll over, costs are incurred which result in a lower ratio in the certificate. A future increase in value is only to a lesser extent taken on the certificate.
  • The roll over can lead to roll losses. In this case, the ratio is reduced and a future increase in value is only applied to the certificate to a lesser extent.
  • There is no capital guarantee and capital losses are possible.
  • Investors bear the risk of the issuer Erste Group Bank AG.
  • This participation certificate 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 participation certificate 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.

2021/05/07 17:29:19
Bid Ask
22.52 22.57
Difference -1.10% (-0.25)

General attributes

IssuerErste Group Bank AG
Product typeIndex/Participation Certificates
Stock exchangeVIE, STU
UnderlyingSILVER Future
Current underlyingSILVER Future JUL21
Underlying ISIN-
Underlying stock exchangeCMX
Underlying currencyUSD
Issue date2021/04/06
Issue price21.39
Last rollover2021/04/26
Expected next rollover2021/06/24
MaturityOpen end
First trading day2021/04/06
Last trading dayOpen end
Management fee0.00%

Index/Participation Certificates | Description

The performance of the certificate depends on the performance of the price of the underlying futures contract ("Future") on silver. The value of the certificate corresponds to the underlying price multiplied by the current multiplier, converted into euros. 
The certificate has an unlimited term. Since the underlying asset is a future and futures have a fixed term, they are replaced before expiry by a new, longer-term contract with the same structure. This process is called a "roll-over". Based on the roll-over costs incurred, the multplier is adjusted accordingly. On the one hand, this is affected by the costs of selling and buying the futures, and on the other hand, roll profits or losses can be realised. Roll-profits arise when the value of the expiring future is higher than the new future. As a result, more can be invested in the new future and a higher multiplier can thus be achieved. This situation is also called backwardation. Roll losses occur when the reverse occurs. In this case, the expiring future is valued lower than the new future (Contango). Since less can be invested in the new future in this case, the multiplier also decreases.
Since the certificate is quoted in Euro, the value of the certificate is also influenced by the development of the exchange rate between Euro and US Dollar.

Price information

Today open22.62
Today high22.82
Today low22.39
Close (previous day)22.77
Spread in %0.22 %
Spread absolute0.05
Spread harmonised0.05
High price (52 weeks)22.78
Low price (52 weeks)20.77


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 %+5.07%

2021/05/07 17:29:19
Bid Ask
22.52 22.57
Difference -1.10% (-0.25)

Date: 2021/05/07 17:40:06
Underlying Quote
27.50 USD
Difference +0.08% (0.02)

General attributes underlying

NameSILVER Future
Stock exchange (underlying)CMX
Currency (underlying)USD
Start value underlying25.2310
Current underlyingSILVER Future JUL21
Last rollover2021/04/26
Expected next rollover2021/06/24
Time21/05/07 - 17:40:06
Change in %0.08%
Today high27.80
Today low27.23
High price (52 weeks)30.85
Low price (52 weeks)15.891

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

Notice on chart (only applicable for future as underlying)

The chart displays the performance of the future currently serving as underlying. The underlying changes monthly or quarterly, as shortly before the future expires there is a roll-over in the next due future. Therefore, the price history in the chart solely represents the current future underlying. Please note the additional information for ISINs AT0000A0CNC5 and AT0000A0CND3 in the product news.

Composition of underlying (in units) - see product news for additional information


In our know-how area you can find all relevant details on the different types of certificates. The tutorial gives you selected information about the functionality of structured products and assists you in making your investment decision. In our glossary we explain the most important keywords and within the FAQ section you can find answers to the most common questions concerning this topic.


Do you have any further questions which are not covered in our know-how area? Please ask directly our product specialists via our contact form.

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