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Date: 2024/04/26 10:25:00
Bid	Ask
99.28	101.75
Difference	0.00% (0.00)

General attributes

Type of bond	Subordinated bonds
Bond style	subordinated
Issuer type	financial institution
Country of issue	CZ
Current coupon	5.550%
Coupon style	fix
Coupon payment date	2025/03/01
Coupon payment period	annually
Value date	2024/03/01
Maturity	2034/03/01
Repayment value	100.00
Currency	CZK
Nominal value	2,000,000
Accrued Interest	18,191.70
Yield to maturity p.a. (before capital gains tax)	-
Investor tolerance	5 (scale 1-7)
Last trading day	2029/02/22

Basic bond documents (prospectuses, supplements,..)

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CZ Flyer

CZ Key Information Documents of structured bonds and notes

Scale: ABS REL Instrument

Interactive chart

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The chart is composed of values which are the arithmetic average values of bid / ask (MID) from previous working day. Performances under 12 month have only little informative value. Information about previous performance does not guarantee future performance.

Source: Česká spořitelna, a. s.

Advantages

Details you should be aware of

Why buy Podřízený dluhopis ČS / 2034 II ?

It reflects the quality of Česká spořitelna, a.s., as one of the strongest Czech banks that is part of the major Central European financial Erste Group, and at the same time it offers a higher yield as compared with the classic bond investment instruments.
Attractive fixed annual yield of 5.55% p.a. in the first five-year duration of the ten-year Podřízený dluhopis ČS/2034 II. with the option of its early repayment after five years of duration.

The electronic version of the Basic Prospectus is posted on the Issuer’s website https://www.csas.cz/cs/dokumenty-kestazeni
/1437 or on www.investicnicentrum.cz/prospekty.
The electronic version of the Key Information Document is posted on the investment portal www.investicnicentrum.cz.

Please note that the target market of this investment instrument is listed below. If you do not meet any of the listed parameters, you may be outside the specified target market!

The target market defines the set of investors (retail clients) for whom the investment product is intended.

This investment product is intended for investors who:

have adequate knowledge applying to bonds
are able to accept a rate of risk that is in accordance with the risk weight 5
strive to appreciate invested funds
are able to bear any loss of invested funds stated in the Key Information Document (KID)
are interested in keeping the product for the entire period of its duration, i.e. to maturityThis investment product is not intended for investors who (negative target market):

Podřízený dluhopis ČS / 2034 II is not intended for investors (negative product target market):

do not have adequate knowledge applying to bonds
are not willing to accept the possible loss of the invested funds stated in the Key Information Document (KID)

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Podřízený dluhopis ČS/2034 II holder bears the issuer’s credit risk.

Specific risks connected with the subordinated bond

If the issuer gets into a situation requiring an increase in regulatory capital, it is necessary, in accordance with European legislation, to firstly use all measures for generating internal capital. The Regulatory Body can order the conversion of subordinated bonds into equity (shares), decrease of their principal or their full write-off. In this case the investor can lose the whole investment amount.

You will find more information in the leaflet.

Description

An attractive fixed annual interest yield of 5.55% p.a. paid out annually in the first five years.
An attractive variable annual interest yield determined every half year, the amount of which is fixed as a six-month reference interest rate of PRIBOR 6M + 1,85 % p.a., paid out semi-annually in the 6th to 10th year of duration.
Podřízený dluhopis ČS/2034 II. can be repaid early by the issuer after five years of its duration. The issuer issues a subordinated bond for the purpose of meeting the regulatory capital requirements. But subordinated bonds cannot be fully incorporated into regulatory capital if the period of their final maturity is less than 5 years. Therefore their early repayment and replacement with a new issue is common market practice. However when making a decision about early repayment, the issuer will also consider the market situation, and early repayment is also subject to the approval of the Czech National Bank.
PRIBOR (Prague InterBank Offered Rate) is an estimate of the interest rate for which the reference bank would be willing to provide a deposit to another bank on the interbank market. The administrator of the PRIBOR reference rate is Czech Financial Benchmark Facility s.r.o., which each working day calculates (fixes) the PRIBOR as the average rate from indicative quotations of reference banks. The PRIBOR is used as the price source for determining interest rates and yields of various financial products (financial derivatives, bonds including government bonds, corporate or mortgage loans, etc.)

Issuer: Česká spořitelna, a. s.
Subscription period: 7. 2. až 28. 2. 2024

You will find more information in the leaflet.

Payment notes

This ten-year subordinated bond with the option of early repayment after five years, offers clients an annual fixed interest of 5.55 % p.a. during the course of the first five years of its duration. Then in the sixth to tenth year of duration it offers clients a variable interest yield with a semi-annual payment, the amount of which is determined as a six-month reference interest rate of PRIBOR 6M + 1.85% p.a. The bond can be repaid early by the issuer after the first five years.

Settlement

Maturity shall be 1. 3. 2034, with an option of early repayment after duration of five years
Česká spořitelna pays out the yield and the nominal value
It takes two working days to settle the buying and selling of the Premium Bond

Secondary market

Minimum investment: 1 pc
Price for early redemption: according to the current Price List (balance at the bond issue date: 2% of the transaction volume)
Subscription price: 100 %, no fee
Liquidity: daily according to current market prices, indications in the Česká spořitelna, a. s. Exchange Rate List

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Note.: You can find the exact product costs in the Instruction for Subscription of Podřízený dluhopis ČS/2034 II.

Note. 2: On a scale from 1 to 7 from potentially lowest risk and yield 1 to potentially highest risk and yield 7 provided that you keep the product to the maturity date. The real risk may differ substantially if you sell early.

Underlying

Know-How

In our know-how area you can find all relevant details on the different types of bonds. The tutorial gives you selected information about the functionality of bonds and assists you in making your investment decision. In our glossary we explain the most important keywords and within the FAQ section you can find answers to the most common questions concerning this topic.