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Podřízený dluhopis VAR / 2029


ISIN:
AT0000A26Z28

Date: 2019/12/12 00:01:08
Bid Ask
97.61 -
Difference -0.15% (-0.15)

General attributes

Type of bondSubordinated bonds
Bond stylesubordinated
Issuer typefinancial institution
Country of issueAT
Current coupon2.960%
Coupon stylefloating
Coupon payment date2019/09/19
Coupon payment periodsemi annually
Yield to maturity p.a. (before capital gains tax)-
Value date2019/03/19
Maturity2029/03/19
Repayment value100.00
CurrencyCZK
Nominal value10,000
Capital gains tax-
Accrued Interest73.18
Investor tolerance5 (scale 1-7)
Last trading day2029/02/09

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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 the Podřízený dluhopis EGB VAR / 2029?

  • It reflects the quality of the Erste Group Bank as a strong Central European bank.
  • The bond has a flexible interest-bearing rate based on the current six-month interbank PRIBOR interest rate, 0.80% is then added to it.
  • The yield is paid out regularly in half-year intervals, always at 19 March and 19 September.
  • The electronic version of the prospectus and its amendments is published on Erste Group Bank AG website www.erstegroup.com. ERSTE GROUP BANK AG as the issuer and creator of this product elaborated the Notification of Key Information where you will find basic information about this investment product.
  • You can get the Notification on creator´s website www.erstegroup.com, on the investment portal of Česká spořitelna www.investicnicentrum.cz and in printed form at Česká spořitelna, a.s. branches.
  • The prices of bonds are given as the percentage of the nominal value. Purchase price means the client is selling, selling price means the client is buying.
  • The holder of the Premium Bond bears the issuer´s credit risk.
  • If you use the portfolio method of investment advice, ask your banker or investment specialist to assess together with you whether this product should become part of your investment portfolio.
  • Product risk rate is on a scale from 1 to 7 (from a potentially lower risk and yield of 1 to a potentially higher risk and yield of 7) assuming that you will keep the product for 10 years. The real risk may significantly differ in case you sell the product prematurely.
  • Isuer: Erste Group Bank AG
  • Date of issue: 19 March 2019
  • Maturity date: 19 March 2029
  • Coupon level: according to PRIBOR 6M + 0.80% p.a., ACT/360 convention
  • Coupon fixed at: 2 working days before the start of the following coupon period
  • Coupon pay out: half-year, always at 19 March and 19 September
  • Currency: Czech crown (CZK)
  • Selling price: 100% on the first two days of sale, then according to the Exchange Rate List
  • Distributor´s costs valid at the issue date: 0.4% p.a., you can find the exact wording in the Agreement for Purchase of the bond
  • Issuer´s costs valid at the issue date: you can find the exact expression in the Notification of Key Information
  • Price for the provision of early redemption: 2% of the transaction volume
  • Minimum investment: 1 piece
  • Nominal value of a single bond: CZK 10,000
  • Specific risks associated with the subordinated bond
    If the issuer finds itself in a situation requiring increase of regulatory capital, all measures will need to be taken first to internally create capital in accordance with applicable European legislation. The regulatory authority may order the transformation of subordinated bonds into equity (shares), reduction of their principal, or their full write-off. If the issuer, in this case Erste Group Bank AG, is liquidated or becomes insolvent, all unsubordinated debt obligations shall firstly be settled (e.g. mortgage bonds, senior bonds) and only then will investors in subordinated bonds receive their funds. A further risk for subordinated bond holders is the possible limitation of their liquidity. It cannot be ruled out that in future it will not be possible to trade bonds on any market, nor sell them before their maturity date. In view of these risks subordinated bonds offer the bonus of a higher yield.

Description

Do you trust the financial strength of the Erste Group Bank and would you like to be part of the success of this renowned Central European Financial Group? Then you may be interested in investing in the Podřízený dluhopis EGB VAR / 2029 with a variable coupon.

The Podřízený dluhopis EGB VAR/2029 (Subordinated Bond) in the course of its duration offers the possibility of achieving an interest yield. This is determined on the basis of the current six-month PRIBOR rate to which 0.80% is added. The coupon is paid out twice a year.

Payment notes

How the yield is calculated?

  • The bond has a flexible interest-bearing rate. This is determined every six months based on the current six-month PRIBOR interest rate to which 0.80% is added.
  • Example: if the six-month PRIBOR is fixed at 15 March 2019 at 2.07% then the interest rate for the first interest period will be 2.87% p.a. and the bond will pay out at 19 September 2019 to investors for each held bond a coupon of 146.69 CZK (nominal value of 10,000 CZK x 2.87% rate x length of period 184/360).

Settlement

  • The maturity date of the bond shall be 19 March 2029
  • The disbursement of the yield as well as the nominal value shall be conducted by Česká spořitelna.
  • The bond purchase as well as sale settlement takes 3 business days.

Secondary market

  • Minimum purchased quantity: 1 piece
  • Price for the provision of early redemption: 2% of the transaction volume
  • The bond may be sold also prior to its maturity date for the price specified by the current Exchange Rate List 

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.




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