WA1DCS Hits 22,858.7506 Points on Dax Performance-index
WA1DCS on the dax performance-index carries a knock-out threshold of 22,858.7506 points and unlimited maturity. If the DAX crosses that level during the term, the Open-End Knock-Out Optionsschein becomes immediately worthless.
The product is a leveraged Call on the DAX, so moves in the index feed through disproportionately to the security. That leaves holders exposed to outsized gains when the index rises and an abrupt loss if the threshold is breached.
WA1DCS and the DAX level
22,858.7506 points is the basis price and knock-out threshold attached to WA1DCS, with a subscription ratio of 0.01. If exercised on specified dates during the term, repayment is calculated from the difference between the DAX price and that level, adjusted by the ratio.
DE000WA1DCS1 identifies the product, and the issuer retains the right to terminate the warrant with notice. For investors, that means the instrument is not a simple buy-and-hold exposure to the index; it is a leveraged structure tied to a fixed trigger and an issuer-controlled exit right.
Open-End risk on WA1DCS
0.01 is the subscription ratio that scales the payoff, which can make the product move far more sharply than the DAX itself. Because the structure is open-end, the position does not have a fixed maturity date, but the knock-out threshold can end it immediately if the index trades through that level during the term.
1998 to 2026 appears in Onvista’s copyright notice, and the provider also says approval of the base prospectus by BaFin is not an endorsement of the securities offered. That warning sits alongside a recommendation that interested parties and potential investors read the base prospectus and the final terms before making an investment decision.
BaFin and the prospectus
2026 is the end year in the copyright notice, but the more immediate issue is operational: the product can disappear at once if the DAX breaks 22,858.7506 points. Anyone considering WA1DCS needs to check the base prospectus and final terms before entering a trade, because the payoff, the trigger level and the issuer’s termination right are all built into the instrument itself.
