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Prémiový dluhopis MULTI 9


ISIN:
AT0000A282E8

Date: 2020/07/14 00:00:00
Bid Ask
99.29 -
Difference -0.03% (-0.03)

General attributes

Type of bondStructured bonds and notes
Bond stylesenior
Issuer typefinancial institution
Country of issueAT
Current coupon0.000%
Coupon stylevariable
Coupon payment date2023/06/15
Coupon payment periodat maturity
Yield to maturity p.a. (before capital gains tax)-
Value date2019/04/29
Maturity2023/06/15
Repayment value100.00
CurrencyCZK
Nominal value10,000
Capital gains tax-
Accrued Interest0.00
Investor tolerance2 (scale 1-7)
Last trading day2023/06/07

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CZ ReportPDF Download
Key Information DocumentPDF Download

Legal note

This product is no longer publicly offered. The product-specific content published here is for information purposes only for those who are already invested and does not constitute marketing communication. Erste Group Bank AG no longer consents to the use of the prospectus for a public offering of this product by third parties.
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.

Description

Every rationally thinking person looks for ways to get the most effective return on his money. For many it is then important to know in advance how the investment may grow and, most of all, what is its yield potential and the market risk he takes. If these parameters are also important to you then you might be interested in investing in Prémiový dluhopis MULTI 9 (PD MULTI 9). The four-year PD MULTI 9 is designed for clients who do not require regular disbursements of the yield, but prefer growth of their investment depending on the trend in capital markets.

An interesting yield potential of up to 40% in four years with a minimum 100% return on the nominal value (see Note) of  PD MULTI 9 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 method is used for the Prémiový dluhopis MULTI 9 whose yield depends on the trend of the Solactive ERSTE Multi Asset Index 35 VC index. The global index uses “Volatility Control” as a mechanism to monitor volatility which once it exceeds the limit it automatically reduces its exposure to the basic portfolio and begins to target the money market more. The basic portfolio of Solactive ERSTE Multi Asset Index 35 VC index represents eight underlying assets out of three different asset classes (shares, bonds and commodities). The underlying assets in the basic portfolio have a fixed weight and this allocation is renewed at the start of each quarter. Its target volatility of about 7% is crucial for the structure of the index.

Payment notes

How does the Prémiový dluhopis MULTI 9 work?

  • The yield of the four-year PD MULTI 9 depends on the trend of global Solactive ERSTE Multi Asset Index 35 VC index.
  • The initial value of the underlying asset shall be determined on 30 May 2019.
  • 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 these 4 values acquired during observation. This is then 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 100% of the Premium Bond nominal value (see Note) is always paid out at maturity thanks to the guarantee.
  • For the duration of the Premium Bond its price may fall even below 100% 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 40% of the Premium Bond nominal value for the duration of PD MULTI 9, 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 PD MULTI 9. 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

Settlement

  • Maturity of the Premium Bond is 15 June 2023
  • Česká spořitelna pays out the yield and the nominal value
  • Liquidity: daily according to current market prices in the Exchange Rate List of Česká spořitelna, a.s.
  • It takes three working days to settle the buying and selling of the Premium Bond

Secondary market

  • Minimum purchased amount: 1 piece
  • The Premium Bond can be sold even before the maturity date for the price 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

Index Solactive ERSTE Multi Asset Index 35 VC
DE000SLA5QD2
Globálně zaměřený index využívající flexibilní, diverzifikovaný investiční přístup, aktivně reagující svým složením na měnící se tržní podmínky. Pro dosahování svých cílů pravidelně upravuje složení svého portfolia. Podkladová aktiva v portfoliu mají pevně nastavenou váhu (základní portfolio) a tato alokace je obnovována na počátku každého čtvrtletí. Základní portfolio indexu reprezentuje 8 pokladových aktiv ze 3 různých tříd aktiv (akcie, dluhopisy, komodity). Akciový podíl činí 35 %, dluhopisy tvoří 50 % a zbylých 15 % představují komodity (z toho 10 % připadá na zlato). Při zvýšené volatilitě se index snaží omezit riziko poklesu své hodnoty pomocí sledování volatility. Index využívá pro sledování volatility mechanismus „Volatility Control“, který při překročení úrovně automaticky sníží svou expozici na základní portfolio a začne více cílit na peněžní trh. V okamžiku snížení volatility je expozice na základní portfolio odpovídajícím způsobem navyšována. Pro složení indexu je klíčová jeho cílová volatilita okolo 7 %.

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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