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Prémiový dluhopis RESPONSIBLE 15


ISIN:
AT0000A2UZV7

Date: 2022/08/19 00:00:00
Bid Ask
90.30 -
Difference 0.23% (0.21)

General attributes

Type of bondStructured bonds and notes
Bond stylesenior
Issuer typefinancial institution
Country of issueAT
Current coupon-
Coupon stylefix
Coupon payment date2026/02/27
Coupon payment periodat maturity
Value date2022/01/17
Maturity2026/02/27
Repayment value100.00
CurrencyCZK
Nominal value10,000
Accrued Interest-
Investor tolerance1 (scale 1-7)
Last trading day2026/02/20

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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 the PD RESPONSIBLE 15?
  • A fixed 8% yield + a yield dependent on the performance of the underlying index with an interesting growth potential.
  • 100% participation on the regularly monitored development of a diversified underlying asset – Solactive ERSTE Fair Invest Index VC index.
  • Regular observation of the underlying asset. Final yield is calculated as 100% participation from the average annually observed changes of the underlying asset price but its total amount is limited by 140% upper limit of PD RESPONSIBLE 15 + fixed yield of 8% for its duration. 
  • Fixed  8% yield for the duration of the Premium Bond is paid out regardless of the development of the underlying index. 
  • Even with a price fall in the underlying asset at least 100% of PD RESPONSIBLE 15 nominal value + fixed 8% yield (see Note) is paid out at the maturity date thanks to guarantee.   
  • Quick availability of funds. You can sell PD RESPONSIBLE 15 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 and the investor incurs loss. The payout guarantee of a minimum of 100% of its nominal value and  8% yield (see Note) applies only to payout at maturity.
  • PD RESPONSIBLE 15 is issued in Czech crowns, the investor does not bear any currency risk. 
  • Electronic version of the prospectus is published on the Issuer´s website www.erstegroup.com or on www.investicnicentrum.cz/prospekty
  • Notification of Key Information can be found on the website www.erstegroup.com, or on the investment portal of Česká spořitelna www.investicnicentrum.cz.
  • PD RESPONSIBLE 15 is a structured Premium Bond with a minimum 108% return on its nominal value (see Note) at the maturity date.
  • The holder of PD RESPONSIBLE 15 bears the issuer´s credit risk. The 108% payout of its nominal value depends on the ability of the issuer to meet its commitments tied to PD RESPONSIBLE 15 in case of insolvency or due to an administrative measure or on your decision to sell PD RESPONSIBLE 15 before its maturity. It is possible that you could lose the entire invested amount.
  • Sustainability and responsible investment in CS: This product was included among Sustainable ESG products. For more information go to the document Information of Česká spořitelna on Sustainability and Responsible Investment published at www.csas.cz.
  • Issuer: Erste Group Bank AG (S&P's A / Moody's A2 / Fitch A) 
  • Underlying asset: Solactive ERSTE Fair Invest Index VC
  • Participation: 100% on the regularly observed development of the underlying asset
  • Guarantee: fixed 8% yield + 100% of the PD RESPONSIBLE 15 nominal value at the maturity date (see Note)
  • Maximum payout: 148% of PD RESPONSIBLE 15 nominal value
  • Selling price: 100%, without a fee 
  • Formula for calculating the value at maturity: 108% of the  PD RESPONSIBLE 15 nominal value+ 100% participation × (average value from 4 observations of the underlying asset / initial value – 1), minimum 100% (see Note), maximum 140%
  • You can find the date of fixing the initial value of the underlying asset and the dates of observation in the leaflet.
  • Information regarding product costs is published in the Notification of Key Information, you will find the precise expression of the product costs in the Instruction for Purchase.

Description

A minimum 108% return on the nominal value (see Note) of the PD RESPONSIBLE 15 at its maturity date – a combination of a fixed 8% yield and a yield dependent on the performance of the underlying index with an interesting growth potential.
 
ESG is also the key “investment theme” for PD RESPONSIBLE 15. Its yield depends on the trend of the Solactive ERSTE Fair Invest Index VC share index, which comprises 50 shares of high quality companies. These selected companies take active account of the policy of sustainable economic development and environmental protection, social principles and sustainable management policies. The index portfolio contains companies such as from the sphere of consumer goods, health and body care etc. The index reviews the volatility of the portfolio and thus stabilises the yield and limits the losses during slumps in the markets. The set algorithm is targeted at 10% volatility and compares it with the historic volatility of the observed portfolio. At high volatility this mechanism reduces exposure to dynamic assets and transfers released funds to the money market.
 
For more information see the leaflet. 
 

Payment notes

How does PD RESPONSIBLE 15 work?
  • The resulting yield of four-year PD RESPONSIBLE 15 depends on the development of Solactive ERSTE Fair Invest Index VC share index in combination with a fixed 8% yield for the duration of PD RESPONSIBLE 15.
  • The initial value of the underlying asset shall be fixed on 17 February 2022.  
  • The underlying asset is observed annually. Its value is recorded each year on the observation day.   
  • The average value of the underlying asset is calculated from these 4 values acquired during individual days of observation. It is then compared to its initial value. 
  • The total amount of the payout at maturity is calculated: 100% of the nominal value of PD RESPONSIBLE 15 + fixed 8% yield + 100% participation × (average value of 4 observations of the underlying asset /initial value – 1).
  • Even with a fall in the underlying asset price at least 108% of PD RESPONSIBLE 15 nominal value (see Note) is paid out at maturity thanks to the guarantee.
  • For the duration of PD RESPONSIBLE 15 its price may fall even below 100% of its nominal value with respect to the development of the underlying asset and market conditions.
  • The maximum amount of the yield is fixed at 48% of the PD RESPONSIBLE 15 nominal value for its duration, i.e. for 4 years.
  • Regular annual observation and averaging of the acquired index values partly protect the investor from any sharp fall of 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 and the fixed yield, but on the continuous value of the underlying asset throughout the duration of PD RESPONSIBLE 15. 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

  • The maturity date of the Premium Bond shall be on 27 February 2026
  • The disbursement of the yield and nominal value shall be conducted by Česká spořitelna
  • Liquidity: daily according to current market prices published in the Exchange Rate List of Česká spořitelna, a.s.
  • It takes 3 working days to settle the buying and selling of the Premium bond 

Secondary market

  • Minimum purchased amount: 1 piece 
  • This premium bond can only be sold on the market, the price the client sells listed in the exchange rate list is only indicative.
  • The price for procuring the sale is determined by the valid price list, it currently amounts to a maximum of 0.5% of the trade volume.
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Note: The payout of 100% of the nominal value and 8% yield depends on the issuer being able to meet its commitments tied to PD RESPONSIBLE 15 in case of insolvency or due to an administrative measure and also whether you retain PD RESPONSIBLE 15 until the maturity date. If you decide to sell PD RESPONSIBLE 15 before its maturity, there is no guarantee that you will receive 100% of the nominal value.

Note 2: The product’s risk weight is on a scale of increasing values from 1 to 7, where value 1 represents potentially the lowest risk and yield, and value 7 the potentially highest risk and yield, provided that you hold the product until its maturity date. The real risk may significantly differ in case you sell the product prematurely. The product risk weight is a guide for a comparison of the risk rate of this product compared with other products. 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 meet his commitments.

Underlying

SOL ERSTE FAIR INVEST VC INDEX (EXCESS RETURN) (EUR)
DE000SL0DHU1
The Solactive ERSTE Fair Invest Index VC includes 50 shares of top quality companies. These selected companies are actively committed to the policy of sustainable economic development and environmental protection, social principles and policies of sustainable management. The index portfolio contains companies, for example from the consumer goods and health and body care sector. The index reviews the volatility of the portfolio, which stabilises the yield and limits loss during market slumps. The set algorithm is targeted at 10% volatility and compares it with the historical volatility of the monitored portfolio. At high volatility this mechanism reduces exposure to dynamic assets and moves released funds to the money market.

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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