Podřízený dluhopis ČS / 2034
ISIN: CZ0003708679  

 
2024/05/07 11:05:00
Bid Ask
98.34 101.27
Minimum yield -
Difference 0.00%(0.00)
General attributes
Type of bond Subordinated bonds
Bond style subordinated
Issuer type financial institution
Country of issue CZ
Current coupon 5.550%
Coupon style fix
Coupon payment date 2025/03/01
Coupon payment period annually
Yield to maturity p.a. (before capital gains tax) -
Value date 2024/03/01
Maturity 2034/03/01
Repayment value 100
Currency CZK
Nominal value 25,000
Capital gains tax -
Accrued Interest 265.94
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
Why buy Podřízený dluhopis ČS 2034?
  • It reflects the quality of Česká spořitelna, a.s., as one of the strongest Czech banks that is part of the major Central European financial Erste Group, and at the same time it offers a higher yield as compared with the classic bond investment instruments.
  • Attractive fixed annual yield of 5.55% p.a.  in     the first five-year duration of the ten-year Podřízený dluhopis ČS/2034 with the option of its early repayment after five years of duration.

  • The electronic version of the Basic Prospectus is posted on the Issuer’s website https://www.csas.cz/cs/
    dokumenty­ke­ stazeni#/1437
    or at www.investicnicentrum.cz/ prospekty.
  • The electronic version of the Key Information Document is posted on the investment portal www.investicnicentrum.cz.
Please note that the target market of this investment instrument is listed below. If you do not meet any of the listed parameters, you may be outside the specified target market!
The target market defines the set of investors (retail clients) for whom the investment product is intended.
This investment product  is intended for investors who (positive target market):
  • have adequate knowledge applying to bonds
  • are able to accept a rate of risk that is in accordance with the risk weight 5
  • strive to appreciate invested funds
  • are able to bear any loss of invested funds stated in the Key Information Document (KID)
  • are interested in keeping the product for the entire period of its duration, i.e. to maturity
This investment product is not intended for investors who (negative target market):
  • do not have adequate knowledge applying to bonds
  • are not willing to accept the possible loss of the invested funds stated in the Key Information Document (KID).
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* Podřízený dluhopis ČS/2034 II holder bears the issuer’s credit risk.
Specific risks connected with the subordinated bond
* If the issuer gets into a situation requiring an increase in regulatory capital, it is necessary, in accordance with European legislation, to firstly use all measures for generating internal capital. The Regulatory Body can order the conversion of subordinated bonds into equity (shares), decrease of their principal or their full write-off. In this case the investor can lose the whole investment amount. 

More information you will find in the leaflet.
Description
  • An attractive fixed annual interest yield of 5.55% p.a. paid out annually in the first five years.
  • An attractive variable annual interest yield determined every half year, the amount of which is fixed as a six-month reference interest rate of PRIBOR 6M + 1,85 % p.a., paid out semi-annually in the 6th to 10th year of duration. 
  • Podřízený dluhopis ČS/2034 can be repaid early by the issuer after five years of its duration. The issuer issues a subordinated bond for the purpose of meeting the regulatory capital requirements. But subordinated bonds cannot be fully incorporated into regulatory capital if the period of their final maturity is less than 5 years. Therefore their early repayment and replacement with a new issue is common market practice. However when making a decision about early repayment, the issuer will also consider the market situation, and early repayment is also subject to the approval of the Czech National Bank. 
  • PRIBOR (Prague InterBank Offered Rate) is an estimate of the interest rate for which the reference bank would be willing to provide a deposit to another bank on the interbank market. The administrator of the PRIBOR reference rate is Czech Financial Benchmark Facility s.r.o., which each working day calculates (fixes) the PRIBOR as the average rate from indicative quotations of reference banks. The PRIBOR is used as the price source for determining interest rates and yields of various financial products (financial derivatives, bonds including government bonds, corporate or mortgage loans, etc.)

  • Issuer: Česká spořitelna, a. s.
  • Subscription period: 7. 2. až 28. 2. 2024
  • More information you will find in the leaflet.
Payment notes
This ten-year subordinated bond with the option of early repayment after five years, offers clients an annual fixed interest of 5.55 % p.a. during the course of the first five years of its duration. Then in the sixth to tenth year of duration it offers clients a variable interest yield with a semi-annual payment, the amount of which is determined as a six-month reference interest rate of PRIBOR 6M + 1.85% p.a. The bond can be repaid early by the issuer after the first five years.
Settlement
  • Maturity shall be 01.03.2034
  • Česká spořitelna pays out the yield and the nominal value 
  • It takes two working days to settle the buying and selling of the Premium Bond
Secondary market
  • Minimum investment: 1 piece
  • Maximum investment at subscription: 120 pieces (3 mil. CZK)
  • Price for early redemption: according to the current Price List (balance at the bond issue date: 2% of the transaction volume)
  • Subscription price: 100 %, no fee
  • Liquidity: daily according to current market prices, indications in the Česká spořitelna, a. s. Exchange Rate List
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Note.: You can find the exact product costs in the Instruction for Subscription of Podřízený dluhopis ČS/2034.

Note. 2: On a scale from 1 to 7 from potentially lowest risk and yield 1 to potentially highest risk and yield 7 provided that you keep the product to the maturity date. The real risk may differ substantially if you sell early.
 
Disclaimer
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.