Conditions For Reinvestment State Iou, 2013-2018, Fix%

Original Language Title: emisní podmínky pro Reinvestiční státní dluhopis, 2013-2018, FIX %

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Read the untranslated law here: https://portal.gov.cz/app/zakony/download?idBiblio=79946&nr=129~2F2013~20Sb.&ft=txt

129/Sb.



The COMMUNICATION FROM the



The Ministry of finance



of 13 October. may 2013,



which determine the conditions for Reinvestment savings State bond

The United States, 2013-2018, FIX%



Ministry of Finance (hereinafter referred to as "the Ministry") issues Government bonds

within the scope of 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

terms and conditions define the rights and obligations of the issuer and of the owners

bonds, as well as information about the bond issue and requirements

Reinvestment savings Government bond of the Czech Republic, 2013-2018,

FIX% (hereinafter referred to as "IOU", or "bonds").



1. Basic description of bonds:



Issuer: Czech Republic-Ministry of finance



Name: Reinvestment savings State bond of the Czech Republic, 2013-2018,

FIX%



Abbreviated name: SSD-R CR, FIX%, 18



Serial number of the emission: 82.



Nominal value: 1 € (in words: one Czech Crown)



Emission rate: 100% (in words: one hundred percent) of the nominal value



Form of a bond: bearer securities



Form of a bond: book-entry securities



Type of bond: State Treasury bond



Currency in which the bonds are denominated: Czech koruna (CZK)



The date of commencement of the period for subscription of emissions: 1. 5, 2013.



The end date of the period for the subscription of emissions: 12. 6.2017



Issuing date: 12. 6.2013



Maturity date: 12. 6.2018



The yield of the bond: determined by the fixed interest rate laid down for the



the first period

from 12. 6.2013 to 12. 6.2014

of 0.50% p. a.



the second period

from 12. 6.2014 to 12. 6.2015

in the amount of 1.00% p. a.



the third period

from 12. 6.2015 to 12. 6.2016

in the amount of 3.00% p. a.



the fourth period

from 12. 6.2016 to 12. 6.2017

of 4.00% p. a.



Fifth period

from 12. 6.2017 to 12. 6.2018

of 7.00% p. a.



Tax treatment of the proceeds of the bonds: according to the legislation of the Czech Republic



Isin: CZ0001004006



2. Bonds are within the meaning of the provisions of § 25 para. 2 of the law on

bonds issued on the basis of special legislation. Issue of bonds

secures the Ministry.



3. the following shall be added to the bearer Bonds, issued in book-entry form and

are recorded in a separate register, pursuant to the provisions of § 35

paragraph. 1 (b). d) of Act No. 218/2000 Coll. on 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 for only:



and) means a natural person,



(b)) civic association or hunting Fellowship,



(c)) Trade Union or employers ' organisations,



(d)) of the Foundation or Endowment Fund,



e) charitable,



f) professional Chamber or professional organisations,



g) educational legal person whose founder not the Ministry,

County, municipality or municipalities within the meaning of section 124 para. 2 Act No. 561/2004

Coll. on pre-school, primary, secondary, higher vocational and other

Education (the Education Act), as subsequently amended,



(h)), Economic Chamber of the Czech Republic or the agrarian Chamber of the Czech

the Republic established by law No. 301/1992 Coll., on the Czech Chamber of Commerce

Republic and agricultural Chamber of the Czech Republic, as amended

regulations,



I) public University established in accordance with Act No. 111/1998 Coll., on

universities and amending and supplementing other acts (the Act on the high

schools), as amended,



(j)), a public Research Institute, established in accordance with Act No. 341/2005 Coll.

about public research institutions, as amended,



for Czech television, established by law) no 483/1991 Coll., on the Czech television, in

as amended, Český rozhlas, established by Act No. 484/1991

Coll., on the Czech Radio, as amended, or the United

News Agency, established by law No. 517/1992 Coll., on the Czech press

the Office, as subsequently amended,



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

as amended, or departmental, departmental, corporate and other

health insurance fund established in accordance with Act No. 280/1992 Coll., on the

departmental, industry, corporate, and other health insurance companies,

as amended,



m) local government units and higher territorial self-governing units the United

Republic or the capital city of Prague,



n) voluntary townships established by Act No. 128/2000 Coll., on the

municipalities (municipal establishment), as amended,



about) the Union of towns and municipalities of the Czech Republic, Association of local authorities of the Czech

Republic or the Association of regions of the Czech Republic,



p) owners of units within the meaning of Act No. 72/1994 Coll.

to regulate certain co-ownership to buildings and some

matrimonial property regimes to flats and non-residential spaces, and complement some of the

laws (the law on the ownership of flats), as amended, or



q) foreign legal person with similar activities as some of the people

referred to in subparagraphs (a) (b)) to (f)),



(hereinafter referred to as "Subscriber" or "Underwriters").



5. The Ministry does not intend to apply for admission of the bonds to trading on 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 10 000

000 000 € (in words: ten billion Czech Crowns). Bonds may be in

accordance with the provisions of section 7 of the Act on bonds issued in smaller or in

the larger the volume of emissions, it was estimated the total nominal value

bond issue. The possible range of magnification of the volume of the bond issue is 50

000 000 000 € (in words: fifty billion Czech Crowns).



7. the issue of bonds may be issued within the time limits for the emission of subscription

increments (in tranches).



8. with the exception of bonds are Bonds in accordance with section 11 of the emission

the conditions offered by the issuer to bond in the Czech Republic in the form of public

menu. Activities associated with the subscription of bonds provides the Ministry of

and the person to whom the conduct of such activities (hereinafter referred to as instructed,

"distributors" or "distributor"). The date of the determination of distributors

These emission conditions are Česká spořitelna, a.s., Československá

Commercial Bank, and Komerční banka, a.s. Bonds will be called upon to subscribe

also at selected branches of Česká Pošta, s.p. current list

distributors and individual distribution points shall be published on the

the Ministry's website.



9. The underwriters mentioned in point 4 of these emission conditions served

request for subscription debentures of the relevant tranche through the Distributor.

A Subscriber can subscribe to through one application for subscription

bonds in a number of pieces of at least 1000 (in words: one thousand). Underwriters

are required when applying for the subscription of the bonds to the Distributor

a trusted way to certify that they belong among the persons referred to in point 4

These emission conditions. The price of the subscription of the bonds means the total

the nominal value of the bonds underwritten one originator of multiplied by the

their IPO. The Subscriber is obliged to pay the price of the subscription

bonds within five working days of the closing date of the subscription period

the relevant tranche. At the moment of payment of the price of subscription bonds, the originator of the

on the account of the Distributor's request for bond bond firm, and

the Subscriber cannot cancel it. From the date of payment of the price of subscription bonds

the date of issue of the relevant tranche of the bond issue is not this amount shall bear interest.

After the date of termination of the subscription period of the relevant tranche of bonds already

You cannot subscribe to the relevant tranche of bonds. In the case of the achievement or

exceeding the forecast total nominal value of the bond issue

in accordance with section 6 of these terms and conditions of the emission can decide about the Ministry

reduction of the number of units subscribed bonds according to the requests for subscription of bonds

submitted to the closing date of the subscription period of the relevant tranche of emissions

bonds. Unmet or partially uspokojeným subscribers will return

they paid the price of the subscription of bonds that have not been subscribed for, without undue

delay of payment by bank transfer to the account from which they were

the funds remitted to the account of the Distributor, or in the

payment account referred to in the application for the subscription of bonds in the case of payment of the price

subscription of the bond in cash.



10. the subscription period for the first tranche of the bond issue is terminated as of the date

31.5. 2013, or a date to be determined by the issuer, depending on which date

whichever occurs first.



11. the issue of the next tranches of the bond issue will take place in the form of reinvestment

the proceeds of the bond in the previous instalments in accordance with sections 14 and 15

These emission conditions with the exception of the last of the yield of a bond, to

date of reinvestment of the bond yield.



12. On the issue of possible further tranche bond issue, with the exception of

tranches referred to in points 10 and 11 of these issue conditions may decide


the issuer and specify the start date and the end date of the subscription period

the next tranche. Notice of any other tranches emissions

the bonds shall be published on the website of the Ministry.



13.-request for conversion of the bonds is served by the Distributor.

The bonds are converted without a settlement. Transferability

bonds in accordance with § 26 para. 6 of the Act on bonds.

Convert the bonds shall only be permitted between persons referred to in point 4

These emission conditions. The person to which the bonds are transferred, it is

required when applying for the transfer of the bonds to the Distributor

a trusted way to certify that they belong among the persons referred to in point 4

These emission conditions. Transferability bonds shall the date 12. 5.

2018.



14. The yield of the bond (the "yield" or "income") is determined by the

a fixed interest rate in the amount for each period is increasing

and shall be determined in accordance with point 1 of these emission conditions. Yields are

reinvested in accordance with point 15 of the issue conditions once a year, and

It's always the date 12. 6. starting in 2014, with the exception of the last yield

who is the owner of the bonds shall be paid together with the repayment of the nominal

the value of the bonds at maturity of the bonds in accordance with section 22 of the

issue conditions, except where the owner of the bond reinvestment request

the last of the proceeds and the nominal value of all or the relevant part of it

owned by the bonds of this bond issue (hereinafter referred to as "request

reinvested in bonds ") in accordance with point 23 of the issue conditions. In cases where the

the owner of the bonds early repayment request in accordance with section 20 of these

issue conditions, the amount of the relevant revenue for the period, which

the end of the immediately preceding or is the same as the date of early

repayment, with the nereinvestuje, but is to be paid to the owner of the bonds

in accordance with section 20 of these emission conditions.



15. Reinvestment conditions yield means that the owner of the securities account

the bonds are to the date of reinvestment of the proceeds credited to the bonds of the same issue

the total nominal value of bonds, which corresponds to the amount of the proceeds from the

all bonds of the same issue the bond owner, after tax, taxes

charge according to a special deduction for the income tax rates

period. If the date falls in the reinvestment of proceeds on a day which is not a

working day will be the bonds credited to the securities account

the owner of the bonds on the first following working day. The total amount of

the proceeds from all bonds of the same issue of bonds of the owner after tax

taxes collected by deduction according to the special tax rate for the relevant revenue

period, for the purpose of reinvestment of the proceeds shall be rounded down to the nearest Crown

upwards. Reinvestment conditions, yield increases the number of pieces of bonds

the owner and the total nominal value of the bond issue. The total amount of

the last time the yield of all bonds of the owner of this bond issue

paid to the owner of the bonds, except where the owner of the bond request

reinvestment of the bonds referred to in point 23 of the emission conditions, after

taxation tax charge deduction according to the specific tax rates shall be rounded

for pennies. In the case of owners of bonds, who submits proof of

which follows the residence, and the affidavit of beneficial ownership

income, cannot be applied a reduced rate of withholding tax in accordance with

special tax rate resulting from the Treaty on the avoidance of double taxation

or from the domestic to the income tax act. If there is a proof of the above

those documents after the date of reinvestment of the proceeds, the reimbursement amount

the tax will be paid by bank transfer to the account of payment, which is

kept in the territory of the country in the domestic currency and that is registered on a securities account

the owner of the bonds in the records of the Ministry, in accordance with section 22 of the

issue conditions.



16. The yield referred to in points 14 and 15 of these emission conditions always receives

the person who is the owner of the bonds on the date 12. 5. starting in 2014.

Revenue for the period from the date of the first issue to 12. 6.2014 will receive

the person who is the owner of the bonds on the date 12. 5.2014.



17. The calculation of the yield and the relative yield is based on 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 referred to in point 1 of these emission conditions. Relative yield

in the price of the bond counts from the date of issue and shall be calculated as revenue

multiplied by the proportion of the actual number of days from the start date of the relevant

income period to date calculation of relative yield and the actual number of

days of the relevant income of the period. The total amount of the relative return on

all the bonds the owner of this bond issue is for the purpose of calculating the

proportional yield shall be rounded down to pennies.



18. The Department of Justice on the yield from the bond is eliminated.



19. the issuer is not entitled to early repay bonds issued before the date of

their maturity date, unless the owner of the bonds early repayment

in accordance with section 20 of these emission conditions. The Ministry is authorised to

write the bonds when they are released first on the securities account for the issuer in

the register of the Ministry within the meaning of the provisions of article 15, paragraph 2. 4 of the law on

bonds and the acquisition of bonds before their maturity date. Custom

bonds acquired by the issuer before the date of maturity aren't going away,

unless the issuer decides otherwise.



20. The owner of the bonds is eligible to apply through the Ministry

the distributor of the repayment of the nominal value of all or part of it

owned by the bonds of this bond issue before the date of maturity

(hereinafter referred to as "request for early repayment") according to the following

timetable:



+-----------------------------------+-----------------------------------+-----------------------------------+

| The first possible date for submission | The last possible date for submission | Date |

| request for early repayment | request for early repayment early repayment | |

+-----------------------------------+-----------------------------------+-----------------------------------+

| 1.4. 2014 | 30.4. 2014 | 12.6. 2014 |

+-----------------------------------+-----------------------------------+-----------------------------------+

| 1.7. 2014 | 31.7. 2014 | 12.9. 2014 |

+-----------------------------------+-----------------------------------+-----------------------------------+

| 1.10. 2014 | 31.10. 2014 | 12.12. 2014 |

+-----------------------------------+-----------------------------------+-----------------------------------+

| 2.1. 2015 | 30.1. 2015 | 12.3. 2015 |

+-----------------------------------+-----------------------------------+-----------------------------------+

| 1.4. 2015 | 30.4. 2015 | 12.6. 2015 |

+-----------------------------------+-----------------------------------+-----------------------------------+

| 1.7. 2015 | 31.7. 2015 | 14.9. 2015 |

+-----------------------------------+-----------------------------------+-----------------------------------+

| 1.10. 2015 | 30.10. 2015 | 14.12. 2015 |

+-----------------------------------+-----------------------------------+-----------------------------------+

| 4. the 1. 2016 | 29.1. 2016 | 14.3. 2016 |

+-----------------------------------+-----------------------------------+-----------------------------------+

| 1.4. 2016 | 29.4. 2016 | 13.6. 2016 |

+-----------------------------------+-----------------------------------+-----------------------------------+

| 1.7. 2016 | 29.7. 2016 | 12.9. 2016 |

+-----------------------------------+-----------------------------------+-----------------------------------+

| 3.10. 2016 | 31.10. 2016 | 12.12. 2016 |

+-----------------------------------+-----------------------------------+-----------------------------------+

| 2.1. 2017 | 31.1. 2017 | 13.3. 2017 |

+-----------------------------------+-----------------------------------+-----------------------------------+

| 3.4. 2017 | 28.4. 2017 | 12.6. 2017 |

+-----------------------------------+-----------------------------------+-----------------------------------+

| 3.7. 2017 | 31.7. 2017 | 12.9. 2017 |

+-----------------------------------+-----------------------------------+-----------------------------------+

| 2.10. 2017 | 31.10. 2017 | 12.12. 2017 |

+-----------------------------------+-----------------------------------+-----------------------------------+



The owner of the bonds shall be entitled to the pro-rata yield for the period from

the start date of the relevant income to date of early period

the repayment. Proportional yield for the period from the start date of the relevant

revenue period until the date of early repayment will be after taxes taxes

charge according to a special deduction tax rate paid and the nominal

the value of the relevant bonds will be repaid to the person who is the owner of

bonds on the first working day following the respective

the last possible date of application for the early repayment. The request for


the early repayment of the bond owner served through

Distributor. From the moment of submission of the request for early repayment cannot be

bonds in the number of pieces in which the application was submitted early

repayment, to convert. A bond owner can one date

early repayment through a single request for early repayment

request early repayment of bonds owned by number of individual

at least 1000 (in words: one thousand). In the case that the number of pieces

owned by bonds on the securities account of the owner of the bonds is less

than 1000 (in words: one thousand), the owner may apply for a bond

the early repayment of the bonds owned the number of pieces smaller than 1

000 (in words: one thousand), if asks for early repayment of all the pieces

owned by the bonds that registered on the securities account in the register

of the Ministry. One owner bonds to one date of early may

the repayment request early repayment of 100% (in words: one hundred per cent)

owned by the bonds to a number of pieces of 500 000 (five hundred thousand)

including and up to 50% (fifty per cent) owned

bonds over the number of pieces of 500 000 (five hundred thousand). Bonds

early repayment shall expire at the same time with the right owner to yield.

The amount corresponding to the nominal value of the bonds of the owner and to the competent

relative yield after taxes taxes collected by deduction under special rates

taxes will be the owner of the bonds for early repayment of the paid

payment by bank transfer on the account, which is maintained in the country in the

the domestic currency and that is registered in the securities account of the owner of the bonds

in the records of the Ministry. If the date falls on a day of early repayment,

that is not a business day, the payment will be made to the first

the following working day without the right to payment of the proceeds for this

deferring payments. Change payment account shall notify the owner of the

bonds the Ministry through the Distributor. The total amount of

proportional to the number of pieces in the yield of the bonds, in which the application was submitted

the early repayment, payable to the owner of the bonds for the period from the date of

initiation of the relevant revenue period until the date of early repayment,

after tax of taxes collected by the special tax rate deduction

shall be rounded down to pennies.



21. The bonds will be paid off at their nominal value at the date of 12. 6.2018,

If the owner fails to file a request for early repayment of the bonds referred to in section 20

These emission conditions or if the owner fails to file an application for reinvestment

bonds referred to in point 23 of these emission conditions. The date ends

the remuneration on bonds. The issuer within the meaning of § 17 of the Act on bonds held

that the right to repayment of the bonds is a person who is authorized to perform

rights associated with the bonds on the date 12. 5.2018. The nominal value of all

the owner of the bonds will be repaid, together with the payment of the last yield

the person who is the owner of the bonds on the date 12. 5.2018. Falls

date of repayment of the nominal value of the bonds and the payment of the last

the yield on a day which is not a business day, the payment will be made

the first following working day without the right to payment of the proceeds for this

deferring payments.



22. the issuer undertakes to secure the repayment of the nominal value of the

bonds, together with the payment of the last owners of the bonds yield

According to these emission conditions. On the security of repayment of the bonds and

payment of the revenues involved in the central securities depository, a.s.,

The Czech National Bank and the Ministry. The nominal value of the bonds is

repaid along with the payment of the final yield after taxes taxes collected

the crash according to the special tax rate on the payment by bank transfer

the account is denominated in the domestic currency of the country in which it is recorded on the

the owner of the securities account in the register of the Ministry of bonds, except where the

the owner of the bond request for reinvestment of the bonds referred to in point 23 of these

issue conditions. Change payment account shall notify the owner of the

bonds the Ministry through the Distributor. The total amount of

the last time the yield of all bonds of the owner of this bond issue

paid to the owner of the bonds, the tax charge, after tax deduction

According to the special tax rate shall be rounded down to pennies.



23. The owner of the bonds shall be entitled to a reinvestment request

ask the Ministry through the bonds of the Distributor

the last time reinvestment of the proceeds and the nominal value of all or part of it

owned by the bonds of this bond issue. In this case, you will not be

the owner of the bonds paid their last return and repaid the total

nominal value or its relevant part by bank transfer to the

payment account pursuant to paragraph 22 of the emission conditions, but will be in the

the owner of the required amount of the reinvested in government bonds in advance

designated by the Ministry. Reinvested in the bond request cannot be

reinvest the nominal value of the bonds-traffic rights of third

people, in particular the right of a mortgage, 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 request a bond, and reinvested in government bonds, to

where it is possible to last yield and the nominal value of bonds

reinvest, shall be published in sufficient time to

the Ministry's website. The owner of the bonds may

through a single request for a reinvestment request bonds

reinvestment of the nominal value of the bonds to the State owned

bonds designated by the Department of the number of pieces (at least 1000 words:

one thousand) and the reinvestment of the proceeds of the last only in full.

About the reinvestment of the last income and the nominal value of all or part of

It is owned by the owner of the bonds the bonds will ask the Ministry of

reinvested in the bond request through the Distributor.

The total amount of the proceeds from the bonds of the owner of the bonds, after tax, taxes

taxes collected by the special tax rate deduction for the last period

for the purpose of reinvestment of the proceeds and the nominal value of the last

the bonds shall be rounded down to the nearest Crown upwards. The last day for

request a reinvestment of the bonds is 11. 5.2018. In the case of

Bond owners, who have applied for the last time reinvestment of the proceeds,

the reinvestována above the last yield after taxes taxes collected

the crash according to the special tax rate on the date of reinvestment of the bonds. In

the case of the owners of the bonds, who submits the document from which it follows

the residence, and the affidavit of beneficial ownership of income, cannot

apply a reduced rate of withholding tax in accordance with special rates

the tax arising from the Treaty on avoidance of double taxation or of

the domestic law on income taxes. If there is a proof of the above

those documents after the date of the reinvestment amount refund bonds

the tax will be paid by bank transfer to the account of payment, which is

kept in the territory of the country in the domestic currency and that is registered on a securities account

the owner of the bonds in the records of the Ministry, in accordance with section 22 of the

issue conditions.



24. on the 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, redemption of the bonds prior to maturity date, and

the repayment of the nominal value of the bonds, and that for all government bonds

owner, that are recorded in the register of the Ministry. All payments

referred to in the first sentence be remitted to the payment account logged in

the register of the Ministry of two working days before the date of implementation of the relevant

payment.



25. The valid assessment of financial eligibility (rating) of long-term

on CZK-denominated liabilities at the date of the determination of the issue conditions made

by Standard Poor's & is a level AA, Moody's on

level A1 and by Fitch Ratings to AA-level.



26. Bonds are direct, unconditional and nepodřízenými liabilities

States that are on the same level with all the other existing

and future direct, unconditional and nepodřízenými liabilities

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 ten years from the end of the day when she could

be applied for the first time.



28. these terms and conditions announced by the Ministry in the collection of laws.

Announcements to the public concerning these bonds shall be published on the

the Ministry's website.



29. The operational order of the records of the Ministry shall be published as amended on

the Ministry's website 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, by subscribing to bond, early repayment

the last time reinvestment conditions, yield of bonds, and the nominal value of the bonds,

entries in the register of the Ministry, changes to data and other relevant

activities defined a production order register of the Ministry.




31. these terms and conditions may be translated into foreign languages. If there is a

a conflict between the various language versions, the issue conditions

Czech version.



Minister:



Ing. Kalousek in r.