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Erste Group Warrant ANDRITZ 21.06.2024

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General attributes

IssuerErste Group Bank AG
Product typeWarrants
Exercise methodamerican
Underlying price57.50 EUR
Date2024/06/20 17:35:11
Strike65.0000 EUR
MoneynessOut of the money
Implied volatility80.3802%

The calculation of the key figures is based on the most recently delivered price of the underlying (see date/time stamp in tab underlying).

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Key Information DocumentPDF Download

Advantages Risks you should be aware of
  • Chance to benefit without limits from rising prices in the underlying instrument
  • Disproportionate participation in the performance of the underlying (leverage effect)
  • Gains possible amid rising volatilities of the underlying
  • Redemption does not only hinge on the performance of the underlying. Other factors crucial to the composition of the option value such as in particular the (declining) remaining life of the option, changes in the volatility of the underlying, interest rates, and the dividend policy of underlying shares, if any, may also strongly affect the price of the option.
  • It is important to constantly monitor these factors.
  • The leverage effect exacerbates price fluctuations during the life of the option and scales up the participation in the performance of the underlying.
  • Risk of capital loss of up to 100%.
  • Redemption hinges on the solvency of Erste Group Bank AG (default risk).
  • Call options are generally subject to the risks outlined in the respective prospectus.

Secondary market

From the value date onwards the certificates can be traded on each stock exchange day during trading hours. However, Erste Group Bank AG cannot guarantee the existence or maintenance of an active market throughout the entire life of the certificate. The issuer will, as a rule, continuously quote prices, but is not obligated to do so. Neither is the issuer obligated to redeem the certificates. During the life of the certificate its price will be significantly determined by the general development of interest rates, the fluctuations on the capital market, and the general economic scenario.

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General attributes

IssuerErste Group Bank AG
Product typeWarrants
Exercise methodamerican
Stock exchangeVIE, STU
Underlying ISINAT0000730007
Underlying stock exchangeVIE
Underlying currencyEUR
Underlying price57.50 EUR
Date2024/06/20 17:35:11
Strike65.0000 EUR
MoneynessOut of the money
Implied volatility80.3802%
Historical volatility 30 days-
Historical volatility 200 days-
Gamma 0.0028
Theta -0.0070
Issue date2023/05/26
Start price product1.48
First trading day2023/05/26
Last trading day2024/06/18

The calculation of the key figures is based on the most recently delivered price of the underlying (see date/time stamp in tab underlying).

Warrants | Description

What are warrants?
Warrants offer investors the chance to benefit at a disproportionate degree (leveraged) from the performance of the underlying instrument. The investment in warrants requires less capital outlay than the direct investment in the underlying. Shares, currencies, interest rates, or commodities among others, can serve as underlying.

Warrants transfer the right to the holder to buy (call options) or sell (put options) a specified amount of the underlying instrument during (American) or at the end of the life (European) of the warrant at a fixed price. The holder may exercise this right, but does not have to do so. In practice, the holder will tend not to exercise the right but to sell the warrant on the stock exchange or settle in cash. This is easier and more economical.

The price of an warrant is composed of the intrinsic value and the time value. The difference between the price of the underlying and the strike price is equal to the intrinsic value. At the end of its life, the warrant expires and becomes worthless if the intrinsic value is zero or negative. The time value represents a sort of premium and depends on numerous factors. The remaining life of the warrant is a crucial factor. The longer it is, the higher is the probability that the underlying will rise (relevant for call options) or fall (relevant for put options), which in turn results in a higher time value. The time value decreases over the life of the warrant, and it does so more rapidly towards the end of the life than at the beginning. In addition, factors like interest rates, dividends (if the underlying is a share), and the volatility of the underlying affect the time value.

How do call options work?

Holders of a call option expect the price of the underlying instrument to rise. They acquire the right to buy the underlying, and in return they pay the so-called option premium. It makes economic sense to exercise the right when the underlying can be bought through the option at a lower price than on the stock exchange. For most call options, however, the underlying instrument is actually never physically bought and delivered; rather, settlement is in cash. This means that the value of the option is credited to the investor’s account.

Investors benefit without limits from rising prices in the underlying. If the underlying records a negative performance, the maximum loss the investor will incur is the option premium he/she paid (i.e. total loss).

Price information

Today open-
Today high-
Today low-
Close (previous day)-
Spread in %95.00 %
Spread absolute0.02
Spread harmonised0.19
High price (52 weeks)-
Low price (52 weeks)-


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 %-

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Date: 2024/06/20 17:35:11
Underlying Quote
57.50 EUR
Difference -0.61% (-0.35)

General attributes underlying

Stock exchange (underlying)VIE
Currency (underlying)EUR
Start value underlying54.6000
Time24/06/20 - 17:35:11
Change in %-0.61%
Today high58.25
Today low57.10
High price (52 weeks)62.15
Low price (52 weeks)41.12

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


In our know-how area you can find all relevant details on warrants. The tutorial gives you selected information about the functionality of warrants 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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By agreeing to this hereto, the Interested Party confirms that
(i) It has read, understood and accepted this Information and the Disclaimer;
(ii) It informed itself about any possible legal restriction and warrants that it is not restricted or prohibited to enter the Websites according to any law applicable; and
(iii) It does not make available the contents of the Websites to any person who is not qualified by law to enter the Websites.