The invention concerns a security and/or value document, in particular a banknote. The security and/or value document has a support (1) of a paper material and an in particular strip-form or thread-form film element (2) which contains one or more optical security features. The support (1) has one or more window-shaped openings (35) which are closed by means of the film element (2) which projects beyond the openings on all sides. Applied to the side of the support (1) of a paper material, which is in opposite relationship to the film element (2), is a sealing layer (4) which covers the surfaces of the film element (2) at least in the region of the openings.