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.
