Sb 385/2013.
The COMMUNICATION FROM the
The Ministry of finance
from day 4. November 2013
which determine the conditions for the State's voucher savings bond
The Czech Republic, 2013-2018 II FIX%
The Ministry of Finance (hereinafter referred to as "the Ministry") issued State bonds
to the extent provided for by a special law and determines their conditions
in accordance with the provisions of section 26 of Act No. 190/2004 Coll. on bonds, in
as amended, (hereinafter referred to as the "law on bonds"). These
conditions define the rights and obligations of the issuer and the owners
bonds, as well as information about the bond issue and requirements Kuponového
saving the State of the bond of the Czech Republic, 2013-2018 II FIX% (
also, the "bond", or the "bonds").
1. the basic description of the bonds:
Issuer: Czech Republic-Ministry of finance
Name: the State's voucher savings bond of the Czech Republic, 2013-2018 (II),
FIX%
Abbreviated name: SSD-to the CZECH REPUBLIC, FIX%, 18 (II)
Serial number of the emissions: 85.
Nominal value: 1 € (in words: one koruna Czech)
The emission rate for the date of the issue: 100% (in words: one hundred percent) of the nominal value
Form of a bond: a valuable paper bearer
Form of a bond: zaknihovaný paper
Type of bond: bond
Currency in which the bonds are denominated: Czech koruna (CZK)
The date of commencement of the period for subscription issue: 4.11. 2013
End date for the subscription period emissions: 12. 12.2017
Issue date: 12. 12.2013
Maturity date: 12. 12.2018
The yield of the bond: the specified fixed interest rate laid down for the
the first period
from the 12. 12.13 to 12. 12.2014
at a rate of 0.50% p. a.
the second period
from the 12. 12.2014 to 12. 12.2015
in the amount of 1.00% p. a.
the third period
from the 12. 12.2015 to 12. 12.2016
in the amount of 3.00% p. a.
the fourth period
from the 12. 12.2016 in 12. 12.2017
of 4.00% p. a.
Fifth period
from the 12. 12.2017 to 12. 12.2018
of 5.50% p. a.
Taxation of income of the bond: according to the legislation of the Czech Republic
ISIN: CZ0001004188
2. Bonds are within the meaning of the provisions of § 25 paragraph. 2 of the law on
bonds issued on the basis of special laws. Issue of bonds
the Ministry provides.
3. the following bearer Bonds issued in dematerialised form and
are recorded in a separate register, according to the provisions of § 35
paragraph. 1 (a). (d)) of law No 218/2000 Coll., on the budgetary rules and the
changes to some related acts (budgetary rules), as amended by
amended, the Ministry (hereinafter referred to as "the register of the Ministry").
4. Bonds may subscribe only:
and) means a natural person,
(b)) Civic Association of natural persons or the shooting of the Fellowship,
(c) a trade union or organization) employers
(d)) of the Foundation or Endowment Fund,
e) public benefit corporation,
f) professional Chamber or professional organisations,
(g)), the Board of the legal person, whose founder is the Ministry,
County, municipality or municipalities within the meaning of section 124, paragraph. 2 Act No. 561/2004
Coll. on pre-school, primary, secondary, higher vocational and other
Education (the Education Act), as amended,
(h)), Economic Chamber of the Czech Republic or the agrarian Chamber of the Czech
the Republic established by Act No 301/1992 Coll., on the Czech Economic Chamber
Republic and agrarian Chamber of the Czech Republic, as amended
regulations,
I) public high school established in accordance with Act No. 111/1998 Coll., on
universities and amending and supplementing other laws (the law on high
schools), in the wording of later regulations,
j) public research institution established in accordance with Act No. 341/2005 Coll.
public research institutions, as amended by later regulations,
for the Czech television, established by law) no 483/1991 Coll., on the Czech television, in
as amended, Czech Radio, established by Act No. 484/1991
Coll., on the Czech Radio, as amended, or Czech
Press Office, established by law No. 517/1992 Coll., on the Czech press
the Office, in the wording of later regulations,
l General health insurance company) of the Czech Republic established by law No.
551/1991 Coll., on general health insurance company in the Czech Republic, in the
as amended, or departmental, departmental, corporate and other
health insurance company established pursuant to Act No. 280/1992 Coll., on the
departmental, industry, corporate, and other health insurance companies,
in the wording of later regulations,
m) territorial self-governing units and higher territorial self-governing units, Czech
Republic or the capital city of Prague,
n) voluntary townships established by Act No. 128/2000 Coll., on the
municipalities (municipal establishment), as amended,
the Union of towns and municipalities), the Czech Republic, Association of local authorities of the Czech
Republic or the Association of regions of the Czech Republic,
p) community of owners of units within the meaning of Act No. 72/1994 Coll.
adjusting some of the co-ownership to the buildings and some
ownership of the flats and non-residential spaces and added some
laws (the law on the ownership of flats), as amended, or
q) foreign legal person with similar activities as one of the persons
referred to in points (b) to (f))),
(hereinafter also referred to as "underwriter" or the "Underwriters").
5. The Ministry does not intend to apply for admission of the bonds to trading on the
the European regulated market or in a multilateral trading system,
established in a Member State of the European Union. Bond trading on the
referred to the transfer points is out of the question.
6. The estimated total nominal value of the bond issue is 500 000
USD (in words: five hundred million Czech Crowns). Bonds may be in
accordance with the provisions of section 7 of the Act on the bonds issued in smaller or in
the larger the volume of emissions, it was estimated the total nominal value
the bond issue. The possible range of magnification of the volume of the bond issue is 50
0000 0000 0000 € (in words: fifty billion Czech Crowns).
7. the issue of bonds may be issued within the time limits for the emission of subscription
increments (tranches).
8. the bonds offered for subscription in the Czech Republic. The activities of the
associated with the subscription of bonds, the Ministry provides, and the persons that
for the performance of the selected actions, the Ministry instructed, (hereinafter referred to as
"distributors" or "distributor"). To date the beginning of distributors
the deadline for subscription to the emissions are Česká spořitelna, a.s., Československá
Commercial Bank, a. s., J T & BANKA, a.s., Komerční banka, a.s.
The bonds will be called upon to subscribe also to selected branches of Česká Pošta, s.p.
The current list of distributors, and ways of distribution points
organizational and technical assurance subscription of bonds shall be published on the
the website of the Ministry.
9. The underwriters mentioned in point 4, the following emission conditions served
application for subscription of bonds of the relevant tranche bond issue
through a Distributor, and under the conditions specified and published
the issuer also through the Ministry (hereinafter referred to as "subscription request").
One underwriter may subscribe through a subscription request
bonds in a number of pieces of at least 1000 (in words: one thousand). One
an underwriter may submit a request/application for a subscription when the subscription of bonds each of
tranche bond issue according to points 12 and 13 of these emission conditions in
the total number of pieces not exceeding 50 0000 0000 (in words: fifty million) for
each tranche of the bond issue. Underwriters are required to
request a subscription to the Distributor or the Ministry of trusted
way to certify that they belong among the persons referred to in point 4 of these
the emission conditions, and show their permission to act on behalf of the following persons
or for such persons. The price of the subscription of the relevant tranche of bonds issue
the bond means the total nominal value of bonds upisovaných
one by one the Subscriber requests for bond multiplied by the
their emission rate (hereinafter referred to as "the price of the subscription of bonds"). An underwriter is a
obliged to pay the price of the subscription of bonds within five working days from the date of
the end of the subscription period of the relevant tranche bond issue, unless
the Ministry no later than the start date of the subscription period, the competent
tranche bond issue otherwise. The moment of payment of the price of the subscription of bonds
means of crediting of funds on a payment account distributor
or the Ministry and this moment with a request to subscribe to
Underwriters binding and an underwriter it cannot cancel. In the case of
submission/subscription requests directly to the Ministry, it is possible to pay the price
subscription of the bonds only non-cash transfer on a payment account
of the Ministry. From the moment of payment of the price of the subscription of the bonds to the date of issue
the relevant tranche bond issue is not this amount shall bear interest. After
published by the end of the subscription period of the relevant tranche of the issue
bonds bonds cannot be the relevant tranche bond issue to underwrite,
If the Ministry does not specify otherwise.
10. The underwriters request for bond's signature binding, affirm that the purpose and
the intended nature of (reason) subscription of bonds including the beneficial owner
bonds is in accordance with the nature and requirements laid down by these
conditions and these conditions do not circumvent. The underwriters
by signing the application for subscription on binding, affirm that all the information and
the information stated in the context of applications for subscription, are complete and
true. In particular, data and information relating to the legal
the status and the identification of the persons referred to in the request directly to the underwriters of the
subscribe, such data and information provided by the underwriter
the Distributor or the Ministry under the identification/registration
forms or the conclusion of related contracts, which are in any way
refer to the subscription of bonds. In cases of application/subscription requests
bonds in the total number of pieces of more than 30 0000 0000 (in words: thirty
million), then it is, in particular, the data and information relating to the
the origin of the funds, of which the price is paid for by subscription of bonds,
including the identification of resources and the range of income or other assets
Underwriters, and indirectly, through which the payment of the subscription price has occurred
bonds. In cases of subscription bonds in the total number of pieces in the amount of
According to the previous sentence is always an underwriter must indicate the required information and
information regarding the origin of the financial resources intended to cover prices
subscription of bonds including the identification of the intended purpose of subscription bonds,
through the presentation and the signature of the relevant statutory
the Declaration; If an underwriter submits multiple applications for subscription, number of pieces
upisovaných bonds are added together. Such an underwriter submits
the Ministry of the affidavit, together with a request for subscription, which will
exceeding the total number of bonds, i.e.. 30 0000 0000
(in words: thirty million), with an underwriter is obliged to indicate in this
solemn declaration data and information that are related to the also
previous requests for subscription. Good faith regarding the fulfilment of underwriters
all terms and conditions and the related requirements for subscription of bonds according to the
These emission conditions must take on the part of the Subscriber from the moment
request a subscription to the subscribed bonds by the issuer.
Good faith on the part of the Subscriber must take and then, what happens
the owner of the subscribed bonds. In the case of a transfer or gradient bonds
must include good faith on the part of the transferee of the bonds, so the new
the owner of the bonds, in addition to good faith regarding the completeness and veracity
data and information on the nature and identification of your person, also the fact
that the transfer or gradient of the bonds is in accordance with the nature and requirements of the
laid down in these conditions. The Issuer reserves the right to
Verify the existence and duration of good faith on the part of the Subscriber, respectively.
Subsequently, on the part of the owner of the bonds, and that from the moment of submission of the application
about the subscription until the time of repayment of the bonds by the issuer. In the case of
doubts about the good faith of the other underwriters, or subsequently on
side of the owner of the bonds, the issuer is entitled to demand proof
good faith on the part of the Subscriber in the form of additional
data, information and documents relating in particular to the nature and
the identification of the person, the intended purpose of the bond underwriters of bonds and
the source of funds used to pay the price or subscription
bonds. The underwriter, or the owner of the bonds is
bound to the data, information and documents to submit directly to
the Ministry.
11. in the case of exceeding the forecast total nominal value of the issue
bonds according to item 6 of these conditions of issue, the issuer may, during the period from
the start date of the subscription period to the date of issue of the relevant tranche of the issue
bonds according to points 12 and 13 of these emission conditions, decide on the
a proportional reduction in the number of units of the relevant tranche of bonds upisovaných
bond issue to each Subscriber; the result of the proportional reduction in
individual subscriber shall be rounded to the whole of the Crown downwards.
Reduction of upisovaných bonds takes place so that the first are relatively
shortened applications for subscription for one Subscriber in aggregate
exceed the total number of pieces of 10 0000 0000 (in words: ten million), while
the reduction applies only to the bonds in a number of pieces exceeding this total
the number of pieces. In the event that such reduction leads to the achievement of the maximum
the forecast total nominal value of the bond issue, the application for subscription
each of the underwriters to the total number of pieces in the amount of 10 0000 0000
(in words: ten million) has already been shortened not any subscribers. If
in this way, the reduction is not achieved a maximum estimated total
the nominal value of the bond issue, then in the second round
reduction of the proportional reduction bond underwriters without upisovaných all
regardless of the total number of pieces of the upisovaných bonds of one Subscriber.
The issuer further reserves the right to refuse an individual's request for a completely
the bond in the event that the issuer, doubts remain about the good
faith on the part of the Subscriber. In particular, doubts as to the
the veracity of the provided data and information, doubts about whether it is
subscription of the bonds in accordance with the nature and requirements laid down by these
conditions and even these do not circumvent, especially with regard to the
the circle of persons entitled to acquire these bonds according to item 4 of these
issue conditions and other obligations of the underwriters from these emission
conditions, including doubts about the information provided on the origin
the financial resources intended to cover or used subscription prices
bonds. For the avoidance of doubt shall be that on the part of the issuer
doubts remain about the good faith of the other underwriters in particular in
When the underwriter to the issuer fails to submit the required information,
information or documents in accordance with point 10 of these emission conditions. For
in case the doubts about the good faith of the other underwriters, in particular in the
the context of the purpose of the subscription of bonds or the origin of the financial resources
the funds will be on the side of the issuer of the bonds persist, or
arise only in relation to the part of the upisovaných bonds, the issuer is
shall be entitled to refuse a request for subscription and only in relation to such part
upisovaných bonds. If, as a result of this partial refusal
request for subscription amounted to subscribe one Subscriber less than 1 000 (in words:
one thousand) bonds, thereby violating the conditions on
the minimum subscription of one subscription request according to the second sentence of point 9
These emission conditions, the issuer is entitled to refuse a request for subscription for shares in the
full range. Neuspokojeným or partly uspokojeným investors returns
the Ministry of the prices paid by subscription of the bonds, which were subscribed,
but they were no longer the Subscriber paid to the payment account of the Distributor or
the Ministry, without undue delay, only non-cash transfer on
payment account from which the funds were remitted to the competent
the account of the Distributor or the Ministry, or payment account referred to in
request for subscription in the case of payment of the subscription price of the bond in cash for
Distributor.
12. the subscription period for the first tranche of the bond issue is terminated as of the date
29.11. 2013, or a date to be determined by the issuer, from which date
whichever is the earlier.
13. On the issue of possible further tranche bond issue the following
After the first tranche of the bond issue, according to item 12 of these emission conditions
the issuer may decide and specify a start date and end date
the subscription period of the relevant additional tranche bond issue. The notice of
any other tranches of bonds issue shall be published on the
the website of the Ministry. The emission rate of any of the bonds
issued by emission of this point the conditions will always be determined by the issuer with the
taking into account the prevailing current conditions on the financial market and after
taking into account the possible corresponding proportional yield as of the date of issue
the relevant tranche of the bond issue.
14. The request for conversion of the bonds is served by the Distributor and
under the conditions specified and published by the issuer through
of the Ministry. The bonds are converted without a cash settlement.
The transferability of the bonds in accordance with § 26 paragraph. 6 of the Act on
bonds limited, so that the bonds can be converted only to the person
referred to in point 4 of these emission conditions. The person to whom the
the bonds are transferred, is required when filing a request for conversion of bonds
the Distributor or the Ministry of a trusted way to certify that the
It belongs among the persons referred to in point 4 of the emission conditions, and demonstrate
their permission to act on behalf of such persons or for such persons.
Transferability bonds after the date 12. 11.2018.
15. The yield of a bond (hereinafter referred to as the "yield" or "income") is designed
a fixed interest rate in the amount for each period is increasing
and which is established according to point 1 of these emission conditions. Yields are
paid once a year, and it's always the date 12. 12. starting from the year of
2014. the total amount of the proceeds from all bonds of the owner of this issue
the bonds to be paid to the owner of the bonds, after taxation tax charge
a deduction from the special tax rate shall be rounded down to pennies. If the
the date of the payment of the proceeds on a day which is not a working day, it will be
payment of the proceeds made on the first following working day without
the yield for the transferring.
16. The yield shall be determined as the 12-month period, from 12.
12. the year to 12. 12. of the following year. The first yield
the period for the payment of yield shall be determined from the 12. 12.13 to 12. 12. in 2014.
The calculation of the yield and the relative yield takes place on the basis of the actual number of
calendar days in a year and the actual number of days in the relevant výnosovém
period (act/act). Yield period means the competent
period according to item 1 of these emission conditions. Relative yield
in the price of the bond counts from the date of issue, or from the start date
the relevant period of revenue growth and is calculated as the revenue multiplied by the
the share of the actual number of days from the start date of the relevant revenue
the period to the date of calculation of the relative yield and the actual number of days
the relevant period of revenue growth. The total amount of maximum yield from all
the owner of this bond issue bonds for the purpose of calculating the proportional
the yield is quoted on pennies.
17. The yield specified according to item 15 of the emission conditions, always received
the person who is the owner of bonds to date, 12. 11. starting in
2014. The yield for the first period from the date of issue until 12. 12.2014
receive the person who is the owner of the bonds to the date 12. 11. in 2014.
18. the law on the yield from the bond.
19. the issuer is entitled to write bonds in their first release on
the issuer's securities account in the register of the Ministry according to the provisions of § 15
paragraph. 4 the law on debt and the acquisition of bonds before the date of their
maturity, including the sale of bonds at any time after the issue date for the
any price and under other conditions specified by the Ministry. Custom
bonds acquired by the issuer prior to maturity date, including
bonds purchased by the issuer, do not disappear and is at the discretion of the issuer,
whether it is the property of the issuer and of the leaves or is sold, or whether it decides to
otherwise. The issuer further according to the provisions of section 9 (2). 2 (a). to act on)
bonds to pay off bonds reserves the right prior to the date of their
the due date including proportional yield, when on the side of the issuer in
relation to the owner of the bonds raised doubts as to the
the veracity of the data provided and the information or other doubts,
whether the subscription of bonds in accordance with the nature and the requirements laid down
those conditions or whether they do not circumvent, especially with
regard to the circle of persons entitled to acquire these bonds according to item 4
These emission conditions and other obligations of the underwriters, respectively.
owners of the bonds from these emission conditions, including doubt as to the
the information provided about the origin of the funds or
used to cover the price of the subscription of bonds, and at the same time these doubts
will persist even after the application of the procedure in accordance with point 10 of these emissions
terms and conditions. For the avoidance of doubt shall be that on the part of the issuer
doubts remain about the good faith on the part of the owner of the bonds
in particular, in the case where the owner of the issuer does not submit
the data, information or documents in accordance with point 10 of these
emission conditions. In case of doubt about the good faith of issuer on the
side of the owner of the bonds, in particular in the context of the purpose of the subscription
bonds or the origin of the sources of funds, will persist and
After the application of the procedure in accordance with point 10 of these emission conditions, and only in the
relation to the part of the owner of the bonds, the issuer is entitled to
pay only part of the bond owner concerned before the date of their
the due date. If this procedure would result in the ownership of the
the owner of the bonds remained less than 1 000 (in words: one thousand) units
the bonds, the issuer is entitled to pay off all the bonds owned by
the owner concerned, before the date of maturity. The notification to the issuer of the
repayment of the bonds before their maturity date (hereinafter referred to as the "notification
the issuer of an early repayment) the issuer is entitled to send to the address
referred to in the request for subscription or the registered owner of the securities account
bonds in the Ministry and to do so through
the Distributor, and the issuer or the distributor shall be entitled to deliver
the owner of the bonds, the issuer's notice of early repayment
through the postal service provider. The decision of the issuer of the
the repayment of the nominal value of all or part of the bonds of the
the owner of the bonds before their maturity date is effective at the moment
the delivery of the notification to the issuer of the early repayment to the owner
bonds; If the owner refuses bond acceptance notification
the issuer of the early repayment, the effects occur, the delivery of
notification of the time of the refusal of its adoption. If the owner of the
bonds of the issuer in the notification of early repayment
reached, the effects of the service occurs at the moment when the process of
delivery of the first time he tried, provided that the document was then in the
accordance with applicable postal conditions imposed and the owner of the
Yet it's bonds in due time did. If you fail to
the notification to the issuer of the early repayment to the owner of the bonds
deliver because at the point of delivery delay occur, the effects of
the delivery time of the return of the document to its sender, undeliverable
i.e.. to the issuer or to the Distributor. From the date on which the time
service//the effects of the notification to the issuer of the early repayment
including, not bonds, in number of units, on which the redemption of the bonds prior to the
the date of maturity, the transfer applies. For this purpose, the issuer's
reserves the right from the time of dispatch of the notice to the issuer on early
repayment to the time when the issuer of the delivery has been demonstrated/effects
the delivery of the notification to the issuer of the early repayment to the owner
block the number of pieces of bonds bonds, on which the decision of the issuer
the repayment of the bonds before their maturity date applies. The issuer, or
subsequently applied for the conversion of the bonds fail/on the basis of the statement to
the registration of transfer of the bonds to the issuer, which was delivered on the day and/or after
the date on which the time of delivery of the notification to the issuer/effects
an early repayment. The number of pieces, which are the bonds of the
the issuer paid before the date of maturity, including the date of early
repayment of the bonds thus splácených before the date of maturity shall
the notification to the issuer the issuer in an early repayment period
maturity does not exceed 30 (thirty) days. For the determination and calculation of the
the resulting amount is repaid including the method of taxation shall apply paragraph 20
These emission conditions, mutatis mutandis, with the expectation that the amount will be
repaid to the person who is the owner of the bonds on the date of delivery/effects
the delivery of the notification to the issuer of the early repayment. The amount corresponding to
the nominal value of the bonds to yield competent owner and adding after
taxation the tax levied by deduction from the special tax rate will be
the owner of the bonds at the redemption before the date of maturity
paid only by non-cash transfer to the payment account, that it is conducted
at a bank or a branch of a foreign bank in local currency (LCY), and which is
registered owner of the securities account in the register of bonds
of the Ministry. Repayment of bonds before their maturity date shall expire
at the same time with the right owner to the yield of the bond. The total amount of
corresponding to the total nominal value of the bonds of the splácených before the date of
their maturity and yield or relative yield of
pieces of the bonds paid before the date of maturity of the payment
the owner of the bonds for the period from the start date of the relevant revenue
the period up to the date of early repayment of taxes levied after taxation
a deduction from the special tax rate shall be rounded down to pennies.
20. The owner of the bonds may request the issuer through the Distributor
and under the conditions specified and published by the issuer through
the Ministry for the repayment of the nominal value of all or part of it
owned by the bonds of this bond issue before the fixed date
due date according to the conditions listed below and according to the following timetable
(hereinafter referred to as "request for early repayment"):
+---------------------------------------------------------+----------------------------+
| The period for the submission of applications for early repayment | |
+----------------------------+----------------------------+ |
| The first possible date | The last possible date | Date |
| submission of the application owner | submission of the application owner | early repayment |
| bonds | bonds | |
+----------------------------+----------------------------+----------------------------+
| 1.10. 2014 | 31.10. 2014 | 12.12. 2014 |
| 1.4. 2015 | 30.4. 2015 | 12.6. 2015 |
| 1.10. 2015 | 30.10. 2015 | 12.12. 2015 |
| 1.4. 2016 | 29.4. 2016 | 12.6. 2016 |
| 3.10. 2016 | 31.10. 2016 | 12.12. 2016 |
| 3.4. 2017 | 28.4. 2017 | 12.6. 2017 |
| 2.10. 2017 | 31.10. 2017 | 12.12. 2017 |
| 3.4. 2018 | 30.4. 2018 | 12.6. 2018 |
+----------------------------+----------------------------+----------------------------+
The yield or relative yield for the period from the start date
the relevant revenue period until the date of early repayment will be
taxation the tax levied by deduction from the special tax rate paid and the
the nominal value of the relevant bonds will be repaid to the person who is
the owner of the bonds on the first working day following the
the last possible date of submission of the request for early repayment.
Request for early repayment of the bond owner can submit
through the distributor only in the periods for the submission of applications for
the early repayment of designated by the issuer as of this point of emission
terms and conditions. From the moment of submission of the request for early repayment cannot be
bonds in the number of pieces in which a request was made for early
repayment, to convert. A bond owner can have one date
early repayment of only one request handed the early repayment and the
through asking for repayment of the bonds owned before
set a due date in the number of pieces of at least 1000 (in words: one
thousand). In the event that the number of units owned by the bonds on securities
the account of the owner of the bonds is less than 1 000 (in words: one thousand), may
the owner of the bonds to request repayment of the bonds owned before
set a due date in the number of pieces smaller than 1 000 (in words: one
thousand), if you ask for repayment of all the pieces owned bonds
registered on the securities account in the register of the Ministry before
set a due date. A bond owner can one
the date of early repayment request repayment before the fixed date
100% maturity (in words: one hundred per cent) owned the bonds to the
the number of pieces of 500 000 (five hundred thousand) including and not more than 50% (in words:
fifty percent) owned the bonds over a number of pieces of 500 000
(in words: five hundred thousand). Bonds repayment before the fixed date
the due date shall expire at the same time with the right of the owner of the bonds to yield.
The amounts corresponding to the nominal value of the bonds and the owner to the competent
the yield or relative yield after taxes taxes levied by deduction from
special tax rate will be the owner of the bonds at the redemption before
set due date paid only by non-cash transfer to the
a payment account held at a bank or a branch of a foreign bank in the
the domestic currency (CZK) and that is registered in the securities account owner
bonds in the register of the Ministry. If the date of early
the repayment on a day which is not a working day, payment will be made
the first following working day without the right to payment of the proceeds, or
the proportional proceeds for the transposition of the payment. Change the payment account shall notify the
the owner of the bonds the Ministry through the Distributor, unless
the Ministry otherwise. The total amount corresponding to the total nominal
the value of the bonds before maturity date, splácených and
the relevant yield or relative yield of the bonds, the number of pieces in the
which the application is lodged by the early repayment, payable to
the owner of the bonds for the period from the start date of the relevant revenue
the period up to the date of early repayment of taxes levied after taxation
a deduction from the special tax rate shall be rounded down to pennies.
21. The bonds will be redeemed at their nominal value at the date of 12. 12.2018,
failing to repay the bond before the agreed due date from
section 19 or 20 of these emission conditions or the absence of the owner
Bond request for re-investment bonds according to item 23 of these emissions
terms and conditions. To this date, ending interest bonds. The issuer according to section 17 of the Act
bonds held that the right to repayment of the bonds is a person who
It is entitled to exercise the rights associated with the bonds on the date 12. 11.2018.
The nominal value of all the bonds will be repaid, along with owner
the payment of the last return to the person who is the owner of bonds to
date 12. 11.2018. If the date of repayment of the nominal value of the
bonds and the final yield on a day which is not a working
the date of these payments will be made to the first following working day without
entitlement to payment of the proceeds for the transposition of the payment.
22. the issuer undertakes to ensure the repayment of the nominal value of the
bonds, together with the payment of the last owners of the bonds yield from
These emission conditions exclusively in CZK or another currency,
that will be the date of the implementation of the relevant payments to the legal currency of the Czech
of the Republic. On the security of repayment of the bonds and the payment of the income
involved in the central securities depository, and with the Czech National Bank
and the Ministry. The Issuer reserves the right at any time to delegate to another or
the next person to be involved in the security of repayment of the bonds and
payment of the proceeds. Notice about these possible additional charge
persons will be published on the website of the Ministry. This
the change may not be caused by the owners of the bonds, and any such
the change will take effect no later than thirty days before the date of the earliest
thirty days after the date of their respective revenue period or
early repayment. The nominal value of the bonds will be repaid, along with
the payment of the proceeds after tax last tax levied by deduction from
special tax rate only non-cash transfer on account of payment,
that is kept with the Bank or branch of a foreign bank in domestic currency
(CZK) and that is registered in the securities account of the owner of the bonds in the
the register of the Ministry, the absence of the owner of the bond request
the reinvestment of bonds according to item 23 of these emission conditions. Change
payment account shall notify the owner of the bonds the Ministry through the
the Distributor, if the Ministry does not specify otherwise. The total amount of the last
the yield of all bonds of the owner of this bond issue paid
the owner of the bonds, after tax according to special taxes levied by deduction
the tax rate shall be rounded down to pennies. The owner of the bonds, which is a tax
a resident of the Contracting State with which the contract is concluded on the Elimination
double taxation is for the application of the benefits arising from this
the Treaty obliged to prove the tax residence accompanied by a certificate of tax
residence issued by the competent foreign tax administrator to the appropriate person
contributing to the security of the repayment of the bonds and the payment of the proceeds from
This point of emission conditions. Notification of the designation of this person
be published on the website of the Ministry. If the owner of
bonds does not confirm the actual ownership of the interest income from held
bonds and residence/residence for tax purposes, i.e., in a Contracting State. in
Member State of the European Union and the European economic area, or
in the State or jurisdiction, with which the Czech Republic has concluded a valid
and effective treaty containing provisions on the exchange of tax information, and
the actual owner of the Ministry will have the necessary
the information will be applied to the appropriate rate of tax withholding from
special tax rate according to the income taxes Act designated payers,
who are not residents of the Contracting States.
23. If the Ministry in sufficient time before the
the due date, the owner of the bonds shall be entitled to request
the reinvestment of bond issuer's request through a Distributor and
under the conditions specified and published by the issuer through
the Ministry of revenue and the reinvestment of the last of the nominal value of all
or part owned bonds of this bond issue. In such a
the case will not be the owner of the bonds, their total nominal value
or the relevant part thereof paid non-cash transfer on payment
account from paragraph 22 of the emission conditions, but will be the owner of the
the required amount of reinvestována in government bonds in advance of intended
by the Ministry. The reinvestment of bond request cannot be
reinvest the nominal value of bonds-traffic rights of third
persons, in particular the law of the lien, or nominal value of the bonds,
which is registered in the register of the Ministry of the suspension of the exercise of the right
the owner of the bonds. Notification of the date from which it is possible to
to submit a request for the reinvestment of bond, and Government bonds, to
that the nominal value of the bonds to reinvest, to
published in sufficient time on the website of the
of the Ministry. The owner of the bonds may request through one
the reinvestment of bond request a re-investment by nominal value
owned by the bonds to government bonds intended by the Ministry in
the number of pieces of at least 1000 (in words: one thousand). About the reinvestment of the nominal
the values of all or part of the owned Bonds asks the owner of the
bonds the Ministry reinvested in the bond request
through a Distributor, and under the conditions specified and published
the issuer also through Ministry. The last day for the submission of
applications for the reinvestment of bond is 11. 11.2018.
24. On a securities account of the owner of the bonds established by the Ministry in
the register of the Ministry is registered only one payment account for the purposes of
payment of the proceeds, the repayment of the bonds before maturity date, and
the repayment of the nominal value of the bonds, for all State bonds
owner, that are recorded in the register of the Ministry. All payments
referred to in the first sentence of this point of emission conditions will be remitted on
payment account logged in the records of the Ministry of two working days before the
the date of implementation of the relevant payments.
25. The valid assessment of financial eligibility (rating) of long-term
on CZK-denominated liabilities at the date of the determination of emission conditions made
by Standard Poor's & is at level AA, by Moody's on
level A1 and by Fitch Ratings to AA-level.
26. The bonds are direct, unconditional obligations of the Czech and nepodřízenými
the Republic, which are on the same level with all the other existing
and future direct, unconditional obligations of the Czech and nepodřízenými
of the Republic.
27. All the rights associated with the bonds in accordance with the provisions of section 42
the Act on the bonds expire on the expiry of 10 years from the day when she could
be applied for the first time.
28. These terms and conditions promulgated by the Ministry in the collection of laws.
Any notice to the owners of the bonds and the notification to the public
concerning these bonds shall be published in the Czech language to the
the Ministry's website in the section in which the issuer will publish
information about government bonds issued by him.
29. The operational order of the records of the Ministry is published as amended on
the website of the Ministry and is binding on all owners
bonds and distributors and for all persons involved in the
repayment of the bonds and the payment of security.
30. The Ministry reserves the right to do all the tasks related to the
keeping the Ministry, subscription bonds, bond repayment
before the date of maturity, the reinvestment conditions, the nominal value of bonds,
entries in the register of the Ministry of information, changes, and other related
activities defined the operational order of the records of the Ministry.
31. These conditions can be translated into foreign languages. If there is a
the discrepancy between the different language versions of the emission conditions, will
the Czech version.
Minister:
Ing. Fischer, CSc., r.