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Prémiový dluhový cenný papír MULTI 2


ISIN:
AT0000A22KD2

Date: 2019/11/14 00:00:00
Bid Ask
93.48 95.05
Difference 0.00% (0.00)

General attributes

Type of bondStructured bonds and notes
Bond stylesenior
Issuer typefinancial institution
Country of issueAT
Current coupon0.000%
Coupon stylevariable
Coupon payment date2022/09/19
Coupon payment periodat maturity
Yield to maturity p.a. (before capital gains tax)-
Value date2018/08/02
Maturity2022/09/19
Repayment value96.00
CurrencyCZK
Nominal value10,000
Capital gains tax-
Accrued Interest0.00
Investor tolerance2 (scale 1-7)
Last trading day2022/09/09

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Key Information DocumentPDF Download

Scale: ABS REL         Instrument

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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 Prémiový dluhový cenný papír MULTI 2?

  • Interesting yield potential of up to 28% for its duration.
  • 100% participation in regularly observed trend of a broadly diversified underlying asset – the Multi Asset Global Futures EUR index.
  • Regular observation of the underlying asset. The resulting yield is calculated as 100% participation of the average annually fixed value of the observed underlying asset.
  • Even with a greater fall in the underlying asset at least 96% of the nominal value of the Premium Bond (see Note) is always paid out at maturity thanks to guarantee.
  • Immediate availability of funds. You can sell the Premium Bond, subject to standard market conditions, through Česká spořitelna at any time before maturity, for the market price shown  in the Exchange Rate List of Česká spořitelna. However in such a case the price may fluctuate even below 96% of its nominal value. The payout guarantee of a minimum of 96% of its nominal value applies to payout at maturity.
  • The Premium Bond is issued in Czech crowns, the investor does not bear the exchange rate risk.
  • Electronic version of the prospectus: on the Issuer´s website www.erstegroup.com.
  • Notification of Key Information: on the website www.erstegroup.com, on Česká spořitelna investment portal www.investicnicentrum.cz and also in printed form at Česká spořitelna, a.s. branches
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    Note: The disbursement of the guaranteed amount depends on the ability of the issuer to meet its commitments arising from the guarantee.
  • The PDCP gives no guarantee of a return on the entire invested amount. It guarantees a return of a minimum 96% of its nominal value (see Note) at the maturity date.
  • The guarantee does not apply in a situation when the issuer fails or if you sell the PDCP before its maturity.
  • The PDCP holder bears the issuer´s credit risk. 
  • The prices are given as the percentages of the nominal value. Purchase price means that the client is selling, selling price means that the client is buying.
  • Issuer: Erste Group Bank AG
  • Underlying asset: Multi Asset Global Futures EUR index (for more information go to: https://sgi.sgmarkets.com)
  • Participation: 100% in a regularly observed trend of the underlying asset
  • Guarantee: 96% of the PDCP nominal value at the maturity date (see Note)
  • Maximum payout: 128% of the PDCP nominal value
  • Selling price: 100%, free of charge, Formula for calculating the value at maturity: 100% of the PDCP nominal value + 100% participation × (average value from 4 observations of the underlying asset/initial value – 1), minimum 96%, maximum 128%
  • Liquidity: daily according to the Exchange Rate List of Česká spořitelna, a.s.
  • Maturity date: 19 September 2022
  • Underlying asset initial value fixing date: 4 September 2018
  • Observation: annual, always at  4 September, with the convention of the following working day
  • Last observation: 5 September 2022
  • Distributor´s costs valid at the issue date: about 0.65% p.a., you will find the precise expression in the Agreement for Purchase of PDCP MULTI 2
  • Issuer´s costs valid at the issue date: you will find the precise expression in the Notification of Key Information
  • Minimum investment: 1 piece
  • Product risk weight is a guide for a comparison of the risk rate of this product  in comparison with others. It shows the likelihood of you losing money as a consequence of fluctuation on markets or because the issuer will be unable to pay out the money.)

Description

Every rationally thinking person looks for ways to get the most effective return on their money. For many it is then important to know in advance how the investment may grow and, most of all, its yield potential and the market risk they take. If these parameters are also important to you then PDCP MULTI 2 is here for you. It is designed for clients who do not require regular disbursements of the yield, but prefer growth of their investment depending on the trends in capital markets. They are also willing to accept any fluctuations of these markets which may result in the fact that they will receive a lower amount at maturity than they originally invested.

An interesting yield potential of up to 28% in four years with a min. 96% return on the nominal value of the PDCP MULTI 2 at its maturity date.

The global “multi asset” investment strategy uses a broad spectrum of underlying assets ranging from bonds, shares to commodities and applies a flexible approach to the management of the market risks taken and the yield potential. This complex investment style is used for the new PDCP MULTI 2 whose yield depends on the trend of the Multi Asset Global Futures EUR index. The globally focused index uses a flexible, diversified investment approach, it actively responds in its composition to the changing market conditions. It is focused on developed markets and in order to achieve its targets it flexibly alters the composition of its portfolio by making allocations in eleven underlying assets out of three basic asset classes – shares, government bonds and commodities. Using futures contracts it can track 4 stock market indexes (S&P 500, EURO STOXX 50, FTSE 100, Nikkei 225), 4 types of government bonds (US Treasury Notes, UK Gilts, the German government bonds so-called bunds and Japanese government bonds), and three commodities (gold, Brent oil and WTI oil). The change of index allocation between individual underlying assets is carried out once a month, and each month a new portfolio is fixed from the available assets. The index’s target volatility of about 6% is crucial for the index’s composition

Payment notes

How does the Prémiový dluhový cenný papír MULTI 2 work?

  • The yield of the four-year PDCP MULTI 2 depends on the trend of global Multi Asset Global Futures EUR index.
  • The initial value of the underlying asset shall be determined on 4 September 2018.
  • The underlying asset is observed annually. Each year its value is recorded on the observation day.
  • The average value of the underlying asset is calculated from the total of these 4 values acquired during observation.
  • This is compared to its initial value.
  • The total amount of the payout at maturity is calculated: 100% of the nominal value of the Premium Bond + 100% participation × (average value of 4 observations of the underlying asset/initial value – 1).
  • Even with a greater fall in the underlying asset at least 96% of the nominal value (see Note) of the Premium Bond is always paid out at maturity thanks to the guarantee.
  • For the duration of the Premium Bond its price may fall even below 96% of its nominal value with regard to the trend in the underlying asset and market conditions.
  • The maximum amount of the premium is fixed at 28% of the nominal value of the Premium Bond for the duration of PDCP MULTI 2, i.e. for 4 years.
  • Regular annual observation and averaging of the acquired index values partly protect the investor from any sharp fall of the prices of the observed underlying asset just before maturity. The total yield does not depend only on the closing value of the observed underlying asset, but on the continuous value of the underlying asset throughout the duration of the PDCP MULTI 2. However regular observation can also reduce the resulting yield (if for example there is a rise in the underlying asset just before maturity).
  • You will find examples of scenarios at maturity in the leaflet
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    Note: The disbursement of the guaranteed amount depends on the ability of the issuer to meet its commitments arising from the guarantee.

Settlement

  • Maturity date of the Prémiový dluhový cenný papír is on 19 September 2022
  • Česká spořitelna pays out the yield and the nominal value
  • It takes three working days to settle the buying and selling of the Prémiový dluhový cenný papír

Secondary market

  • Minimum purchased amount: 1 piece
  • The Premium Bond can be sold even before the maturity date for the price shown in the Česká spořitelna Exchange Rate List which you will find here at the Investment Centre/Exchange Rate Lists

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Note: The disbursement of the guaranteed amount depends on the ability of the issuer to meet its commitments arising from the guarantee.


Underlying

MULTI ASSET GLOBAL FUTURES INDEX
CH0421428944

Globálně zaměřený index využívající flexibilní, diverzifikovaný investiční přístup, aktivně reaguje svým složením na měnící se tržní podmínky. Orientuje se na vyspělé trhy a pro dosahování svých cílů pružně upravuje složení svého portfolia prostřednictvím alokace do jedenácti podkladových aktiv ze tří základních tříd aktiv – akcií, státních dluhopisů a komodit. Pomocí futures kontraktů tak může sledovat 4 akciové indexy (S&P 500, EURO STOXX 50, FTSE 100, Nikkei 225), 4 typy státních dluhopisů (US Treasury Notes, UK Gilts, německé státní dluhopisy tzv. bundy a japonské státní dluhopisy), a trojici komodit (zlato, ropu Brent a ropu WTI). Změna alokace indexu mezi jednotlivá podkladová aktiva probíhá jednou měsíčně, a každý měsíc je z dostupných aktiv stanoveno nové portfolio. Pro složení indexu je klíčová jeho cílová volatilita okolo 6 %. Více informací na: https://sgi.sgmarkets.com)


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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