2003 Media Releases
Deutsche Bank launches 10 new rolling instalment warrants
Deutsche Bank today announced it will be launching 10 new rolling instalment warrants tomorrow, over a range of predominantly mid cap underlying stocks. The new issues cover a range of stocks that to date have no individual instalment warrants available over them.
The details of the warrants are:
| Company | Strike Price | Installment Code | Stock Code |
| Boral Limited | $5.00 | BLDIDH | BLD |
| Futuris Corporation Limited | $1.75 | FCLIDH | FCL |
| Iluka Resources Limited | $4.25 | ILUIDH | ILU |
| Mirvac Group | $4.25 | MGRIDH | MGR |
| Oil Search Limited | $0.75 | OSHIDH | OSH |
| Peptech Limited | $2.00 | PTDIDH | PTD |
| Smorgon Steel Group Limited | $1.20 | SSXIDH | SSX |
| Sons of Gwalia Limited | $2.75 | SGWIDH | SGW |
| Ten Network Holdings Limited | $2.25 | TENIDH | TEN |
| ERG Ltd | $1.00 | ERGIDH | ERG |
These warrants will expire June 2010 with an annual 12 month roll over at 15 June. They are Highly Leveraged Deutsche Instalments that have a loan amount of between 80% and 100% of the price of the underlying security at the time the loan amount is determined.
Commenting on the new products, Pia Cooke, Sales & Trading, Equity Derivatives, Deutsche Bank said, “The aim of these new instalments is to create more choice in the market. There is currently great demand for the ordinary shares of these companies. We believe there will be special interest in these warrants with private investors as there are no other individual instalment warrants available over these underlying shares. They specifically give investors the opportunity to leverage into the small to mid cap market which has outperformed the larger cap market since April/May this year.”
“With many issuers having pulled out of the warrant market, it has become increasingly difficult for investors to gain access to more volatile mid cap stocks. Deutsche Bank is committed to providing its expertise and balance sheet to its clients through innovative solutions”.
These products are attractive to retail investors as they only part pay the cost of the underlying security upfront but still get access to the benefits of owning the ordinary share including any capital appreciation, dividends and franking credits. Some investors also use warrants rather than ordinary stock as it allows them to gain greater exposure for the same cost.
Deutsche Instalments are a packaged financial product tradeable on the ASX which consist of a limited recourse loan and an interest in an underlying security.
For a copy of the Offering Circular, together with a Supplementary Offering Circular dated 21 July 2003, or for further information please see Deutsche Bank’s warrants website at #
Further information
Sue Mathews, Communications & Marketing
(61 2) 9258 2792
Kate Abrahams, Communications & Marketing
(61 2) 9258 2416
Deutsche Instalments may be purchased on ASX or subscribed for. Subscription may only be made on an application form attached to the Offering Circular.