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Prémiový dluhopis MULTI 11


ISIN:
AT0000A28S82

Date: 2019/11/19 00:00:00
Bid Ask
95.86 -
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 date2023/09/06
Coupon payment periodat maturity
Yield to maturity p.a. (before capital gains tax)-
Value date2019/07/16
Maturity2023/09/06
Repayment value100.00
CurrencyCZK
Nominal value10,000
Capital gains tax-
Accrued Interest0.00
Investor tolerance2 (scale 1-7)
Last trading day2023/08/29

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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 dluhopis MULTI 11?

  • Interesting yield potential of up to 40% for its duration.
  • 120% participation in a regularly observed trend of a broadly diversified underlying asset – the Solactive ERSTE Multi Asset Index 35 VC index.
  • Regular observation of the underlying asset. The resulting yield is calculated as 120% participation of the average annually fixed values of the observed underlying asset.
  • Even with a greater fall in the underlying asset at least 100% of the PD MUTLI 11 nominal value (see Note) is always paid out at maturity thanks to the guarantee.
  • Immediate availability of funds. You can sell the PD MULTI 11, 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 100% of its nominal value. The payout guarantee of a minimum of 100% of its nominal value (see Note) applies to payout at maturity.
  • PD MULTI 11 is issued in Czech crowns, the investor does not bear the currency risk.

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Pozn.: Vyplacení garantované částky je závislé na schopnosti emitenta dostát svým závazkům vyplývajícím z garance.

  • Electronic version of the prospectus is published on the Issuer´s website www.erstegroup.com. ERSTE GROUP BANK AG as the issuer and creator of this product with an investment component, has drawn up the document Notification of Key Information in which you will find basic information about this investment product.
  • You can find the Notification on the creator´s website www.erstegroup.com and on Česká spořitelna investment portal www.investicnicentrum.cz
  • The Premium Bond guarantees a return on the entire invested amount. The PD MULTI 11 guarantees a return of a minimum 100% of its nominal value (see Note) at the maturity date.
  • The guarantee does not apply in situations when the issuer fails or if you sell the Premium Bond before its maturity.
  • The Premium Bond holder bears the issuer´s credit risk.
  • If you use the portfolio method of investment advice, ask your banker or investment specialist to assess whether this product should become part of your investment portfolio.
  • The prices are given as the percentages of the nominal value. The buying price means the client is selling, the selling price means the client is buying.
  • Issuer: Erste Group Bank AG
  • Underlying asset: Solactive ERSTE Multi Asset Index 35 VC
  • Participation: 120% in a regularly observed trend of the underlying asset
  • Guarantee: 100% of the PD MULTI 11 nominal value at the maturity date (see Note)
  • Maximum payout: 140% of the PD MULTI 11 nominal value
  • Selling price: 100%, free of charge
  • Formula for calculating the value at maturity: 100% of the PD MULTI 11 + 120% participation  x (average value from 4 observations of the underlying asset/initial value – 1), minimum 100%, maximum 140%
  • Underlying asset initial value fixing date: 23 August 2019
  • Observation: annual, always at 23 August, with the convention of the following working day
  • Last observation: 23 August 2023
  • Product costs valid at the issue date: 0.59% p.a., (you will find the precise expression of the product costs in the Agreement for Purchase of the PD MULTI 11).
  • Price for the provision of early redemption: 2% of the transaction volume
  • Minimum investment: 1 piece

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 11 (PD MULTI 11). The four-year PD MULTI 11 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 the PD MULTI 11 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 PD MULTI 11, whose yield depends on the trend Solactive ERSTE Multi Asset Index 35 VC index. The globally focused index uses “Volatility Control” as a mechanism to monitor volatility which once it exceeds the limit 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 being renewed at the beginning of each quarter. The target volatility of 7% is crucial for index composition.

Payment notes

How does the Prémiový dluhopis MULTI 11 work?
  • The yield of the four-year PD MULTI 11 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 23 August 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 PD MULTI 11 + participation 120% x (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 PD MULTI 11 nominal value (see Note) is always paid out at maturity thanks to the guarantee.
  • For the duration of the PD MULTI 11 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 the PD MULTI 11, 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 11. 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 6 September 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.

Note 2.: Product risk rate weight 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 until the maturity date. The real risk may substantially differ, if you sell the product prematurely. The product risk-weight is a guide for comparing the rate of risk in comparison with others. It shows how likely it is that you can lose money as a consequence of movements on the markets, or because the issuer will be unable to pay out the money.

 


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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