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5.25 % ERSTE Subordinated Bond 23-31


ISIN:
AT0000A324R0

Date: 2023/05/30 13:32:16
Bid Ask
94.781 -
Difference 0.37% (0.36)

General attributes

Type of bondErste Group subordinated bonds
Bond stylesubordinated
Issuer typefinancial institution
Country of issueAT
Current coupon5.250%
Coupon stylefix
Coupon payment date2024/02/06
Coupon payment periodannually
Yield to maturity p.a. (before capital gains tax)5.71%
Value date2023/02/06
Maturity2031/02/06
Repayment value100.00
CurrencyEUR
Minimum unit10,000

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Final TermsPDF Download

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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
  • Fixed coupon of 5.25 % p.a. throughout the term
  • Investors receive annual interest payments.
  • Redemption at 100 % of nominal amount at maturity by Erste Group Bank AG
  • Redemption at 100 % of nominal amount also in case of extraordinary early repayment by Erste Group Bank AG due to legal or tax changes
  • During the term the bond can be traded during the trading hours on those stock exchanges where it is listed. Erste Group Bank AG is legally not obliged to set quotes.
  • In the event of insolvency of Erste Group Bank AG the claims of the investors of this subordinated bond are settled only after satisfaction of those of all non-subordinated debt instruments.
  • Redemption at 100 % of nominal amount is only valid at maturity or in case of extraordinary early repayment by Erste Group Bank AG due to legal or taxes changes. Investors may incur capital loss when selling the bond prior to maturity.
  • Redemption at 100 % of nominal amount 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, further interest payments and the redemption can be limited or there is no interest payment or  redemption at all.
  • Change of market interest rates may lead to price fluctuations and capital loss in case of sale before maturity date.
  • Investors bear the credit risk of Erste Group Bank AG, i.e. the risk of changes of the creditworthiness and the risk of insolvency.
  • 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-indebtedness or from an official order (bail-in regime). A total loss of invested capital is possible.

Description

The bond has a term of 8 years and offers a fixed coupon of 5.25 % p.a.. Interest is paid annually. The denomination of this bond is 10,000 EUR, the minimum order size is 50,000 EUR.

The bond is redeemed on 06/02/2031 at 100 % of nominal amount, 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 amount.

Possible conflicts 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

This bond pays a fixed coupon of 5.25 % p.a., the coupon is paid annually on 06/02, starting with 06/02/2024.

Settlement

This bond is redeemed on 06/02/2031 at 100 % of nominal amount, 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 amount.

Secondary market

During the term it is possible to sell the product during the trading hours at the exchanges, where the product is listed. Erste Group Bank AG is legally not obliged to set quotes. Limitation in trading is possible.

Underlying


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