The convertible bond is traded in blocks of 1 convertible bond which is equal to a nominal amount of SEK 16. This means that a block amounts of SEK 16.
You can follow the price of the convertible bonds on NASDAQ OMX Nordic or at internet brokers such as Avanza and Nordnet, simply search on the convertible bonds ticker (PAR KV1).
Trading price in percent
Please note that the trading price of the convertible bond is stated as a percentage of the nominal amount. If you subscribed for convertible bonds at the time of the issue, you paid 100% of the nominal amount which is SEK 16 per convertible bond. If the current price for convertible bonds is for example 78%, it implies that you can buy or sell these convertible bonds for 78% of the nominal amount, i.e. 16 * 0,78 = SEK 12,48 for each convertible bond.
Accrued interest
When buying or selling the convertible bonds, accrued interest must also be taken into consideration. The seller receives interest accrued from the last interest due date, and the buyer pays the accrued interest to the seller. This calculated automatically when the transaction is carried out and is shown on the contract note. Please note that the accrued interest you pay is based on the nominal amount of the convertible bonds purchased, i.e. SEK 16 per convertible bond, and not on the price paid.
Example:
You would like to buy 500 convertible bonds which is equal to a nominal amount of SEK 8,000 (500 * SEK 16). This is the amount you state when you place an order with your bank or brokerage firm. If the price is 78% it implies that you will pay SEK 16 * 0.78 = SEK 12.48 per convertible bond, that is in total SEK 6,240 for 500 convertible bonds (12.48 * 500). Regular commission will be charged, as well as accrued interest on the nominal amount. Accrued interest is calculated from the last interest due date 1) (January 15 each year) until the settlement date.
1) The person registered as holder of the convertible bond on the record date for the interest payment, which occurs on the fifth business day preceding the interest due date, will be entitled to receive the interest. See Section 4 in Terms and conditions for PA Resources convertible bond 2008/2014.
Additional information
Additional information and the complete terms and conditions for the convertible bond can be found in the prospectus available at this web site. You can also order a printed copy of the prospectus on ir@paresources.se.