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Hypoteční zástavní listy ČS 3,25%/2023

ISIN:
CZ0002002751

Date: 2019/07/22 00:00:00
Bid Ask
108.14 109.69
Difference -0.00% (-0.01)

General attributes

Type of bondMortgage bonds
Bond stylesenior
Issuer typefinancial institution
Country of issueCZ
Current coupon3.250%
Coupon stylefix
Coupon payment date2013/06/10
Coupon payment periodannually
Yield to maturity p.a. (before capital gains tax)0.71
Value date2012/12/10
Maturity2023/06/10
Repayment value100.00
CurrencyCZK
Nominal value1
Capital gains tax-
Accrued Interest0.00
Investor tolerance1 (scale 1-7)
Last trading day2023/05/25

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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
  • 10,5-year investment horizon
  • guaranteed payment of the nominal value at the maturity date,
  • the bond may be sold at any time before the maturity date; then the yield will be a difference between the price of purchase and the price of sale,
  • the issuer and administrator is Česká spořitelna,
  • the payment charge for the placement of order of the HZL is not charged.
  • when holding a bond to the maturity, you do not pay any entry or exit fees.
  • the current yield till maturity at the time of sale will apply if the investor holds HZL till maturity
  • with the shortening period till maturity, the price gets closer to the nominal value, therefore a change in the bond price is logical and will not reduce the yield till maturity as quoted at the time of sale
  • the selling price and purchase price of HZL change every day, also due to a change in yields on the bond market, if the investor holds HZL till maturity, price fluctuations will not affect the yield till maturity
  • the prices of bonds are quoted as percentage of the nominal value.
    The “purchase” price means the the client sells, the “sale” price means that the client buys.
  • minimum investment: 10 000 CZK
  • the redemption price is 1% of the trade volume.

Description

Hypoteční zástavní list is a bond which is covered by claims on provided mortgage loans. The payment of yields and the principal in the determined amount and at the determined dates is guaranteed by Česká spořitelna. It is one of the safest forms of investment. At the time when current yields on HZL derived from yields on the bond market are lower than the interest, HZL are sold at a higher price than their nominal value, and vice versa. Therefore the current yield till maturity, calculated on the basis of the current selling price and yields payable in the future, is lower or higher than the determined interest.

Payment notes

  • a fixed interest rate of 3,25 % p.a. is applied to the bond

Settlement

  • Coupon: 3,25 % p.a.,
  • The coupon will be paid once a year, back, as at 10/6.
  • The interest yield and nominal value will be paid by Česká spořitelna, a.s.

Secondary market

  • HZL may be sold at any time before the maturity date; then the yield will be a difference between the price of purchase and the price of sale. The bond price also includes the aliquot interest yield. They are sold for the quotation that is known in advance and is published daily in the pricelist of ČS. The price is affected by current yields on the market and the time till the bond maturity. The aliquot interest yield is a part of the nominal yield allocated to a HZL holder for the period from the issue of HZL or payment of the last coupon, HZL purchase in the period between payments of the interest yield (coupon) is also connected with the inclusion of the aliquot interest yield in the selling price.
  • The price is affected by current yields on the market and the time till the bond maturity. The aliquot interest yield is a part of the nominal yield allocated to a HZL holder for the period from the issue of HZL or payment of the last coupon, HZL purchase in the period between payments of the interest yield (coupon) is also connected with the inclusion of the aliquot interest yield in the selling price

Underlying


Know-How

 
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