How does PD GLOBAL 3 work?

• Final yield of a four-year PD GLOBAL 3 depends on the development of the global STOXX Global 1800 share index.
• On 15 June 2023 the initial value of the underlying asset will be fixed. 
• The underlying asset is observed annually. Each year its value is recorded on the observation date. 
• The average value of the underlying asset is calculated from these four values obtained during the observation. This is compared with its initial value. 
• The total amount of the payout at maturity is calculated: 100% of the nominal value of PD GLOBAL 3 + participation of 150 % × (average value of 4 observations of the underlying asset/initial value – 1), however a minimum of 100% (see Note) and a maximum of 140%. 
• Even if the price of the underlying asset falls, thanks to the guarantee a minimum of 100% of the nominal value (see Note) of PD GLOBAL 3 is paid out at maturity. 
• For the duration period of PD GLOBAL 3 its price may fall even below 100% of its nominal value with regard to the development of the underlying asset and market conditions.
• The maximum yield amount is fixed at 40% of the nominal value of PD GLOBAL 3 for the period of its duration, i.e. for 4 years.
• The regular annual observation and averaging of the obtained values of the index partly protects the investor from any sharp fall of prices of the observed underlying asset just before maturity. The total yield not only depends on the closing value of the observed underlying asset, but also on the ongoing value of the underlying asset of PD GLOBAL 3 on observation dates in previous years. However, regular observations can also reduce the final yield (if, for example, the underlying asset increases just before maturity). 

• The maturity of Prémiový dluhopis is 30 June 2027
• The yield and nominal value is paid out by Česká spořitelna
• The settlement of the buying and selling of Prémiový dluhopis takes 2 working days