Profit Participation Certificates

General Characteristics of Profit Participation Certificates

Profit Participation Certificates ("PPCs"), are special securities between stocks and bonds. They secure certain capital rights of the PPC owners. Information about the extent and demarcation of the individual asset rights are provided by the terms and conditions of the respective PPC. Essential characteristics of PPCs are the regulations regarding profit distribution, risk participation and maturity.

Bertelsmann’s Profit Participation Certificates

Currently, two types of Profit Participation Certificates issued by Bertelsmann exist. The PPC from 2001 with the identification number (ISIN) DE0005229942 provides greater trading volume and thus meets the liquidity requirement for stock market trading. Additionally, there is another PPC from 1992 with the identification number (ISIN) DE0005229900. Due to its low volume, the trading volume in the PPC from 1992 is generally very low. For Bertelsmann, the PPC with the ISIN DE0005229942 is therefore the Bertelsmann PPC.