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Erste Group CMS Subordinated Floater 2015-2025 (II)


ISIN:
AT0000A1GQR5

Date: 2019/11/15 08:33:31
Bid Ask
105.60 107.80
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 date2020/10/28
Coupon payment periodannually
Yield to maturity p.a. (before capital gains tax)-
Value date2015/10/28
Maturity2025/10/28
Repayment value100.00
CurrencyEUR
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
  • Coupon of 4.00 % p.a. for the first year
  • Interest payment equals 1.5 times the 10-year-EUR-CMS rate, minimum interest payment is 3.00 % p.a., maximum interest payment is 10.00 % p.a.
  • Annual 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 extraordinary early repayment by Erste Group Bank AG due to legal or tax changes
  • The variable interest starting in the 2nd year is limited to 10.00 % p.a., even if the 10-year-EUR-CMS rate is higher than 6.67 % (multiplied by 1.5 this equals the maximum interest payment of 10.00%)
  • In the event of insolvency of Erste Group Bank AG your claims as investor of this subordinated bond are settled only after satisfaction of those of all non-subordinated debt instruments.
  • Redemption at 100 % of nominal value is only valid 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 carry 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 fulfill his obligations partly or completely. 
  • Redemption at 100 % of nominal value is only valid at maturity or in case of extraordinary early repayment by Erste Group Bank AG due to legal or taxes changes. If you sell the bond prior to maturity you may incur capital loss.

Description

The bond has a term of 10 years. Interest is paid annually, starting with 28/10/2016. The interest is fixed at 4.00 % for the first year and variable thereafter. The variable interest equals 1.5 times the 10-year-EUR-CMS rate, minimum interest payment is 3.00 % p.a., maximum interest payment is 10.00 % p.a. This interest rate is mainly used for long-term, Euro-denominated loans on the capital market with a maturity of 10 years. The interest rate is determined daily by the Intercontinental Exchange (ICE,) historical interest rates are published on https: /www.theice.com/marketdata/reports/180.

This bond is redeemed on 28.10.2025 at 100 % of nominal value, if there is no extraordinary early repayment due to legal or tax changes or no statutory loss sharing obligation. In the event of extraordinary early repayment due to legal and tax changes redemption is at 100 % of nominal value.

Possible conflict of interest: Erste Group Bank AG has an interest to issue their own financial instruments. The interest exists especially in the issue of subordinated bonds which with the possible statutory loss sharing obligation can lead to an increase of equity ratio of Erste Group Bank AG.
 
Please refer to the final terms for more details on subordination, early redemption and possible statutory loss sharing obligation this bond.

Payment notes

The interest is fixed at 4.00 % for the first year and variable thereafter. The variable interest equals 1.5 times the 10-year-EUR-CMS rate, minimum interest payment is 3.00 % p.a., maximum interest payment is 10.00 % p.a.

Interest is paid annually, starting with 28/10/2016.

Settlement

This bond is redeemed on 28.10.2025 at 100 % of nominal value, if there is no extraordinary early repayment due to legal or tax changes or no statutory loss sharing obligation. In the event of extraordinary early repayment due to legal and tax changes redemption is at 100 % of nominal value.

Secondary market

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

Underlying


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