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Erste Group Subordinated CMS Floater 2017-2027 (II)


ISIN:
AT0000A1U9K9

Date: 2024/05/15 14:31:10
Bid Ask
94.90 96.90
Difference 0.10% (0.10)

General attributes

Type of bondErste Group subordinated bonds
Bond stylesubordinated
Issuer typefinancial institution
Country of issueAT
Current coupon2.671%
Coupon stylefloating
Coupon payment date2025/04/05
Coupon payment periodannually
Yield to maturity p.a. (before capital gains tax)-
Value date2017/04/05
Maturity2027/04/05
Repayment value100.00
CurrencyEUR
Minimum unit1,000

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Final TermsPDF Download

Legal note

This product is no longer publicly offered. The product-specific content published here is for information purposes only for those who are already invested and does not constitute marketing communication. Erste Group Bank AG no longer consents to the use of the prospectus for a public offering of this product by third parties. Purchases and sales are made exclusively on the secondary market.
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

Description

The bond has a term of 10 years. Interest is paid annually, starting with 05/04/2018. The interest is fixed at 2.50 % for the first and second year and variable thereafter. The variable interest equals the 10-year-EUR-CMS rate, minimum interest payment is 2.30 % p.a., maximum interest payment is 5.00 % p.a.

The 10-year-EUR-CMS rate is the EUR 10-year constant maturity swap (CMS). 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 05/04/2027 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 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

The interest is fixed at 2.50 % for the first and second year and variable thereafter. The variable interest equals the 10-year-EUR-CMS rate, minimum interest payment is 2.30 % p.a., maximum interest payment is 5.00 % p.a.

Interest is paid annually on 05/04, starting with 05/04/2018.

Settlement

This bond is redeemed on 05/04/2027 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


Know-How

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