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Erste Group Subordinated Fix-to-Float Notes 2015-2023


Date: 2020/04/03 10:25:02
Bid Ask
99.30 101.70
Difference 0.00% (0.00)

General attributes

Type of bondErste Group subordinated bonds
Bond stylesubordinated
Issuer typefinancial institution
Country of issueAT
Current coupon3.000%
Coupon stylefloating
Coupon payment date2020/04/30
Coupon payment periodquarterly
Yield to maturity p.a. (before capital gains tax)-
Value date2015/01/30
Repayment value100.00
Minimum unit1,000

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Final TermsPDF Download
Key Information DocumentPDF Download

Scale: ABS REL         Instrument

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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: Erste Group Bank AG
Advantages Risks you should be aware of

  • After the first year minimum coupon of 3.00 % p.a.
  • Quarterly interest payments
  • Redemption at 100 % of nominal value at maturity by Erste Group Bank AG
  • Redemption at 100 % of nominal value also in case of premature redemption by Erste Group Bank AG due to legal or tax changes

  • The variable coupon is capped at 6.00 % p.a., even if the 3-Month-Euribor shows a better performance
  • In the event of insolvency of Erste Group Bank AG your claims as investor of this subordinated bonds are settled only after satisfaction of those of all non-subordinated debt instruments.
  • Redemption at 100 % of nominal value is only valid at maturity, if there is no insolvency of Erste Group Bank AG or statutory loss sharing obligation according to BaSAG (Austrian law for restructuring and liquidation of banks). In these cases, there are no further interest payments and the redemption can be limited or there is no redemption at all. A total loss of invested capital is possible.
  • You bear the credit risk of Erste Group Bank AG regarding the redemption of nominal value. The credit risk refers to the risk that the debitor fails to fullfill his obligations partly or comleteley.
  • Redemption at 100 % of nominal value is only valid at maturity or in case of extraordinary early repayment by Erste Group Bank AG based on legal or tax changes. If you sell the bond prior to maturity you may incur capital loss.
  • This bond is not covered by any deposit guarantee scheme. Investors are exposed to the risk that Erste Group Bank AG may not be able to meet its obligations arising from the bond in the event of insolvency or over-indebteness or from an official order (bail-in regime). In the event of insolvency of Erste Group Bank AG your claims as investor of this subordinated bonds are settled only after satisfaction of those of all non-subordinated debt instruments. A total loss of invested capital is possible.


The bond has a term of 8 years. Interest is paid quarterly. In the first year the coupon is fixed at 5.00 % p.a. Afterwards, the coupon is paid according the 3-Month-Euribor p.a., min. 3.00 % p.a. and max. 6.00 % p.a. The redemption is on 30.01.2023 at 100 % if there is no premature redemption caused by legal or tax changes or statutory loss sharing obligation. In case of premature redemption the redemption is also 100 % of nominal value.

Possible conflict of interest: Erste Group Bank AG has an interest especially in the issue of subordinated bonds.
Please refer to the final terms for more details of this bond.

Payment notes

30.01.2015 (incl.) - 30.01.2016 (excl.): 5.00 % p.a. fix
30.01.2016 (incl.) - 30.01.2023 (excl.): variable interest according the 3-Month-Euribor p.a., minimum 3.00 % p.a., maximum 6.00 % p.a.

Interest is paid quarterly, on 30.04., 30.07., 30.10. and 30.01. of each year, starting with 30.04.2015.


This bond is redeemed on 30.01.2023 at 100 % (please read to information regarding possible premature redemption or statutory loss sharing obligation).

Secondary market

During the term it is possible to sell the product during the trading hours at the exchanges, where the product is listed.



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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