Podřízený dluhopis EGB Fix-To-Float/2024

ISIN: AT000B120464  

2020/07/10 00:00:00
Bid Ask
101.38 106.85
Minimum yield -
Difference 0.07%(0.07)
General attributes
Type of bond Subordinated bonds
Bond style subordinated
Issuer type financial institution
Country of issue AT
Current coupon 3.300%
Coupon style floating
Coupon payment date 2014/08/07
Coupon payment period semi annually
Yield to maturity p.a. (before capital gains tax) -
Value date 2014/02/07
Maturity 2024/02/07
Repayment value 100
Currency CZK
Nominal value 10,000
Capital gains tax -
EU withholding tax Yes
Accrued Interest 145.75
since inception

Performance since inception. Performances under 12 month have only little informative value because of the short maturity. Information about previous performance does not guarantee future performance.
Source: Česká spořitelna, a. s.
Advantages Details you should be aware of
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Do you trust the financial strength of the Erste Group Bank and would you like to be part of the success of this renowned Central European financial group? The EGB Fix-To-Float/2024 Subordinated Bond with fixed as well as floating interest-bearing offers an interesting yield potential.

During its term, this Subordinated Bond offers its clients two types of coupons: fixed and floating. In the short-term horizon of two years, in the current low-interest environment it offers an above-standard fixed coupon of 4% p.a. In the following years until bond maturity, the yield will be derived from the development of the current market rate of six-month PRIBOR, the minimum coupon being 3.3% p.a. and the maximum bond yield disbursed being 6% p.a.

The  EGB Fix-To-Float/2024 Subordinated Bond is ideal for anybody who expects an increase of interest rates over a longer period of time.

What does “Subordinated” mean?
In case of liquidation or insolvency of the issuer, in this case the Erste Group Bank AG, any unsubordinated liabilities (such as mortgage bonds and senior bonds) would be first covered, and only then the funds of investors holding subordinated bonds would be paid out. With a view to this risk, subordinated bonds offer a higher yield as a reward.

Payment notes
  • In the first two years, the fixed interest rate of 4% p.a. shall be applied to the bond (fixed coupon).
  • In the following years, a floating interest rate shall be applied to the bond. The floating interest rate shall be determined every six months on the basis of the  current six-month PRIBOR  interbank interest rate, and shall range from the minimum of 3.3% p.a. to the maximum 6% p.a.
  • If the six-month PRIBOR is fixed in the range from 3.3 to 6%, the investor shall receive a coupon in the amount corresponding to this specific value.
  • If the six-month PRIBOR is fixed under 3.3% (e.g. 1%), the investor shall receive a coupon in the amount of 3.3% p.a.
  • If the six-month PRIBOR is fixed  above 6% (e.g. 8%), the investor shall receive a coupon in the amount of 6% p.a.
  • Coupons shall be disbursed on a six-monthly basis.
  • The maturity date of the bond shall be 7 February 2024.
  • The disbursement of the yield as well as the nominal value shall be conducted by Česká spořitelna.
  • The bond purchase as well as sale settlement takes 3 business days.
Secondary market
  • Minimum purchased quantity: 1 piece.
  • The bond may be sold also prior to its maturity date for the price specified by the current exchange rates table.

As of 1 August 2013 with the provision of state aid the principles are enforced as contained in the Communication from the Commission on the application of state aid rules to support measures in favour of banks in the context of the financial crisis (2013/C 216/01). According to these principles prior to the provision of aid for restructuring in any form, whether for the recapitalisation or rescue of impaired bank assets, all measures are to be taken for capital formation, including conversion of subordinated debts into equity. For subordinated debt holders these rules entail that they must contribute to reducing the capital shortfall, so their contributions can take the form of either a conversion of a bond to a share or a full write-down of their principal.

In the period before maturity, the bond price can fluctuate above and below the bond face value depending on the development of the interest rate and underlying asset. A bond can ben sold even before the maturity date, for the price pursuant to the pricelist of the issuer. Our consultants will give you detail information on the advantages and risks of investment in bonds. The information sources used are generally regarded as reliable, although Česká spořitelna and Erste Group Bank AG cannot guarantee the correctness and completeness of the information contained therein. The aim of this web page is to give information on the services and products contained therein; it is not a binding proposal establishing any rights and obligations for participants. All information you can find here is of informative nature only. Before using the web page for investment, a specialized Česká spořitelna consultant should be consulted.