Conditions For Anti-Inflationary St. Bond, 2013-2020, Cpi%

Original Language Title: emisní podmínky pro Proti-inflační st. dluhopis, 2013-2020, CPI %

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Read the untranslated law here: https://portal.gov.cz/app/zakony/download?idBiblio=79947&nr=130~2F2013~20Sb.&ft=txt

130/Sb.



The COMMUNICATION FROM the



The Ministry of finance



of 13 October. may 2013,



which determine the conditions for the anti-inflationary savings State

the bond of the Czech Republic, 2013-2020, CPI%



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

Anti-inflationary savings Government bond of the Czech Republic,

2013-2020, CPI% (hereinafter referred to as "IOU", or "bonds").



1. Basic description of bonds:



Issuer: Czech Republic-Ministry of finance



Name: anti-inflationary State savings bond of the Czech Republic,

2013-2020, CPI%



Abbreviated name: SSD-as well as the CZECH REPUBLIC, CPI%, 20



Serial number: 83 emissions.



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



Emission rate: 100% of the nominal value of the



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. 12.2019



Issuing date: 12. 6.2013



Maturity date: 12. 6.2020



The yield of the bond: determined by the variable interest rate



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



Isin: CZ0001003990



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 only to a natural person or civic association

natural persons (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 amounts to 150

000 000 000 € (in words: one hundred and 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. the Bonds will be, with the exception of bonds referred to in section 12 of these emissions

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 it secures

the Ministry and the person to whom the conduct of such activities (a bit early

"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 bond issue

can no longer be used to subscribe to the bonds. In the case of reaching or exceeding the

the forecast total nominal value of the bond issue, according to point 6 of the

These emission conditions, a Ministry to decide on the reduction of the number of

pieces of the subscribed bonds by bond bond requests submitted to the

the closing date of the subscription period of the relevant tranche of bonds.

Unmet or partially uspokojeným subscribers will return them

paid the price of 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. one underwriter may submit requests through distributors

Bond bond bond when the bond to each of the tranches referred to in points 11 and 13

These emission conditions in the total number of pieces not exceeding 5 000 000

(in words: five million) for each tranche of the bond issue.



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

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

whichever occurs first.



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

revenue bonds issued in previous instalments referred to in points 15 and 16

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

date of reinvestment of the bond yield.



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

tranches referred to in points 11 and 12 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.



14. The request for conversion of the bonds is served by the Distributor.

The bonds are transferred 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.

2020.



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

variable interest rate. The interest rate for six months (p. s., per

semestre) for the period ending date 12. 6. shall be determined

as the percentage change in the consumer price index (basic living

the cost) for the month of April of the year against bazickému index

consumer prices (cost of living) for the month of October of the year

prior, to the extent of six decimal places, plus 0.25;

on this basis, the interest rate shall be rounded to five decimal places.

The interest rate for six months (p. s., per semestre) for the period,

ending date of 12. 12. shall be fixed as a percentage change basis

index of consumer prices (cost of living) for the month of October

that year against the consumer price index (bazickému of living

the cost) for the month of April of the same year, to the extent of six decimal

places, plus 0.25; on this basis, the interest rate is rounded up to

five decimal places. The minimum interest rate in any výnosovém period

shall be determined in the amount of 0.25% p. a., (per semestre). The interest rate for

the relevant period and its calculation shall be published on the

Ministry's website at the date of 20. 5. and to date 20. 11.

of the relevant year. Income determined on the basis of interest rates are

reinvested in accordance with section 16 of the emission conditions, always on the date

12.6. and to date, 12. 12., starting from the date 12. 12.2013, except for the last

the yield, which is the owner of the bonds shall be paid together with the repayment of the

the nominal value of the bonds at maturity of the bonds according to item 24

These emission conditions, except where the owner of the bond request

the last time reinvestment of the proceeds and the nominal value of all or the relevant

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

about the reinvestment of bond ") in accordance with point 25 of the issue conditions.


If the owner submits a request for early repayment of the bonds in accordance with point 22

These terms and conditions, the amount of emissions of the respective yield for the period,

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

early repayment, with the nereinvestuje, but is to be paid to the owner

bonds referred to in section 22 of these emission conditions.



16. 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 section 25 of this issue 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, according to point 24 of the

issue conditions.



17. The yield shall be determined as the six-month period, from 12. 6.

to 12. 12. the relevant year and from 12. 12. the year to 12. 6.

the following year. The first period for the reinvestment of the proceeds from

12.6. 2013 to 12. 12.13. Second period for reinvested

the yield is from 12. 12.2013 to 12. 6.2014.



18. Basic index of consumer prices (cost of living) to the

to the competent basic (reference) period is published monthly on the

the website of the Czech Statistical Office according to the calendar

dates of publication, with the appropriate base period (reference)

used for its calculation of the relevant month establishes the Czech

the Statistical Office. To determine the interest rate for the relevant revenue

the period referred to in section 15 of these terms and conditions shall apply to the aggregate emissions of basic

indices of consumer prices (cost of living) for households in

The Czech Republic. If the basic consumer price index

(cost of living) for the month of April and the month of October in the year in

The Czech Statistical Office published at all, or if it is published in the

the year to date, 20. 5. date or up to 20. 11. the, the

to determine the interest rate for the relevant period referred to in section 15

These emission conditions last known basic index of consumer

prices (cost of living) published by the Czech Statistical Office and

the basic consumer price index (cost of living) of the

months prior to the respective month of about six months, or

This month.



19. The yield determined in points 15 and 16 of these emission conditions receives the

always the person who is the owner of the bonds on the date 12. 11. starting in

2013 and the data 12. 5. and 12. 11. starting in 2014. The yield in the form of

reinvestment of the proceeds for the first period from the date of issue until 12. 12.

2013 will receive the person who is the owner of the bonds on the date 12. 11.13.



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



21. 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

pursuant to paragraph 22 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.



22. 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 |

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

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

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

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

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

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

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

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

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

| 1.10. 2018 | 31.10. 2018 | 12.12. 2018 |

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

| 1.4. 2019 | 30.4. 2019 | 12.6. 2019 |

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

| 1.10. 2019 | 31.10. 2019 | 12.12. 2019 |

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



The nominal value of the bonds and the yield after taxes taxes collected

the crash according to the special tax rate for the period from the start date to the date

their respective revenue the period just preceding or

identical to the relevant early redemption date, will be paid out to the person

who is the owner of the bonds on the first working day of

following after the last possible date of submission of the

the early repayment. Request for early repayment given owner

the bonds through a Distributor. From the moment of submission of the

the early repayment of the bonds cannot be in the number of pieces, in which it was filed

the appropriate request for early repayment, transfer. One owner

bonds may one date of early repayment through

one request for early repayment request early repayment of it

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

In the case that the number of units owned by the bonds on the securities account

the owner of the bonds is less than 1000 (in words: one thousand), you may

the owner of the request early repayment of bonds owned

bonds in the number of pieces smaller than 1000 (in words: one thousand), if

asks for early repayment of all the pieces owned by the bonds

registered on the securities account in the register of the Ministry. One

the owner of the bonds may one date of early repayment request

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

to the number of pieces of 500 000 (five hundred thousand) including and up to 50%


(in words: fifty percent) owned a bond over the number of 500 pieces

000 (five hundred thousand). Early repayment of the bonds cease to exist

at the same time with the right owner to yield. The amount corresponding to the nominal

the value of the bonds and the owner proceeds after taxes taxes

charge deduction according to the special tax rate will be the owner of the bonds

for the early repayment of the paid by bank transfer payment

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.

If the date falls in the early repayment 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 this postponement of the payments. Possible change

payment account shall notify the owner of the bonds the Ministry through the

Distributor. The total amount of the relevant piece of the proceeds of the bonds,

in which the request for early repayment, paid

the owner of the bonds for the period from the start date to end date

the relevant period after tax income taxes collected by deduction

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



23. The bonds will be paid off at their nominal value at the date of 12. 6.2020

If the owner fails to file a request for early repayment of the bonds in accordance with point 22

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

bonds referred to in section 25 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. the 2020. 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. the 2020. 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.



24. 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 section 25 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.



25. 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 will not be repaid

the total nominal value or the relevant part of the

payment by bank transfer on the account according to point 24 of the emission

conditions, but will be in the amount required to be reinvested to owner

designated by the Ministry of Treasury bonds. Submitting an application for

reinvestment of the bonds cannot reinvest the nominal value of the bonds

loaded with rights of third parties, in particular the right of a mortgage, or a nominal

the value of the bonds, which is registered in the register of the Ministry of

the suspension of the exercise of the right of the owner to dispose of bonds. The notice of

the date from which it is possible to request a bond, and reinvested in the

Government bonds, to which it is possible to last yield and the nominal

the value of the bonds to reinvest, shall be published sufficiently in advance

on 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 for the last period

after taxes taxes collected by deduction according to the special tax rate for

the purpose of reinvestment of the last income and the nominal value of bonds

rounded up to the nearest Crown upwards. The last day for the submission of

application for reinvestment of the bonds is 11. 5. the 2020. In the case of owners

bonds, who have applied for the last time reinvestment of the proceeds, it will be

reinvestována above the last tax charge after tax deduction

According to the special tax rate on the date of reinvestment of the bonds. In the case of

Bond owners, who submits the document from which it follows the residence, and

affidavit of beneficial ownership of income, cannot be applied

the reduced withholding tax rate under the special tax rate

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

the income tax act. If there is a proof of the above

documents after the date of the bonds, so the amount of reinvestment tax refund 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 in the securities account owner

in the records of the Ministry of bonds, according to point 24 of the emission

terms and conditions.



26. 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, 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.



27. 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.



28. 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.



29. all 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.



30. 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.



31. the operational rules of evidence 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.



32. 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.



33. these conditions can 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.