373/2012 Sb.
The COMMUNICATION FROM the
The Ministry of finance
from day 1. November 2012,
which determine the conditions for Reinvestment savings State bond
The United States, 2012-2017 II, FIX%
The Ministry of Finance issued Treasury bonds to the extent
a special law and determines their conditions in accordance with
the provisions of section 26 of Act No. 190/2004 Coll. on bonds, as amended by
amended, (hereinafter referred to as the "law on bonds"). These emission
the conditions define the rights and obligations of the issuer and of the owners of the bonds,
as well as information about the bond issue and requirements for Reinvestment
saving the State of the bond of the Czech Republic, 2012-2017 II, FIX%.
1. Basic description of bonds:
Issuer: Czech Republic-Ministry of Finance (hereinafter referred to as
"the Ministry")
Name: Reinvestment savings State bond of the Czech Republic, 2012-
2017 II, FIX%
Abbreviated name: SSD-R CR, FIX%, 17 (II)
Serial number of the emission: 75.
Nominal value: EUR 1.0 (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
Currency in which the bonds are denominated: Czech koruna (CZK)
The date of commencement of the period for subscription of emissions: 5.11. 2012
The end date of the period for the subscription of emissions: 12. 12.2016
Issuing date: 12. 12.2012
Maturity date: 12. 12.2017
The yield of the bond: fixed interest rate fixed
for the first period from 12. 12.2012 until 12. 12, 2013.
in the amount of 1.00% p. a.
for the second period from 12. 12.2013 to 12. 12.2014
in the amount of 2.00% p. a.
for the third period from 12. 12.2014 to 12. 12.2015
in the amount of 3.00% p. a.
for the fourth period from 12. 12.2015 to 12. 12.2016
of 4.50% p. a.
for the fifth period from 12. 12.2016 to 12. 12.2017
equal to 6.00% p. a.
Isin: CZ0001003792
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 on the State
bond program issuance of government bonds, which allow you to. Release
Bond 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) registered church or religious society, Union of churches or
religious organisations,
g) professional Chamber or professional organisations,
(h) the Board of a legal person), the founder of the Ministry, are not
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,
I) Chamber of Commerce 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,
j) 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,
to set up a public Research Institute) in accordance with Act No. 341/2005 Coll.
about public research institutions, as amended,
l) established by the Czech Television Act 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,
m) General health insurance company of the United States, established by law No.
551/1991 Coll., on General health insurance company in the Czech Republic
as amended, or employment insurance company established in
pursuant to Act No. 280/1992 Coll., on departmental, industry, corporate, and
other health insurance companies, as amended,
n) territorial self-governing units and higher territorial self-governing units the United
Republic or the capital city of Prague,
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 (h)),
(hereinafter referred to as "Subscriber" or "Underwriters").
5. the Ministry as the issuer does not intend to apply for admission of the bonds to the
trading on a regulated European market or in a multilateral
trading system located in a Member State of the European Union. Trading
with bonds referred to transfer places 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
a larger volume than the estimated 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 subscription
gradually (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, 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 individual distribution locations
shall publish a notice on 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 bonds, this amount does not include interest. After
the date of the end of the subscription period of the relevant tranche of bonds can no longer be
to subscribe to the relevant tranche of 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. the subscription period for the first tranche of bonds is terminated on the date 30. 11.
2012, or on the date designated by the issuer, whichever date occurs
previously.
11. the issue of bonds in other tranches of bonds takes place in the form of
reinvestment of the proceeds of the bond in the previous tranches referred to in point
14 of these emission conditions with the exception of the last of the yield of a bond, and
This reinvestment of the proceeds of the bond to date.
12. On the issue of the bonds in any other tranches with the exception of tranches
in accordance with sections 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 competent
tranche. Notice of any other tranches shall be published on the
the Ministry's website.
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. 11.
2017.
14. The yield of a bond is determined by a fixed interest rate of that for
each period is increasing pursuant to point 1 of these emission conditions
(hereinafter referred to as the "yield" or "income"). The proceeds are reinvested
Once a year, always on the date 12. 12. starting in 2013, except for the
the last time the yield, which is the owner of the bonds shall be paid together with the
repayment of the nominal value of the bonds at maturity of the bonds,
If the owner fails to file a request for a reinvestment of the last bond yield and
the nominal value of the bonds according to point 24 of the issue 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
in the total nominal value, which corresponds to the amount of the proceeds from all
the owner of the bonds of the same issue during the relevant period.
If the date falls in the reinvestment of proceeds on a day which is not a working day,
the bonds will be credited to the securities account of the owner
bonds of the first following working day. The total amount of the proceeds from the
all bonds of the same issue of the owner for the period is
for the purpose of reinvestment rounded up to the nearest Crown upwards.
Reinvestment conditions, yield increases the number of pieces of the bond owner and total
the nominal value of the issue. The total amount of the last return from all
the bonds to be paid to the owner of the owner, except where the
the owner of the application for the reinvestment of the last bond yield and the nominal
the value of the bonds according to point 24 of the emission conditions,
shall be rounded down to pennies.
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. 11. starting in
2013. The yield for the first period from the date of issue until 12. 12, 2013.
receives the entity that is the owner of the bonds on the date 12. 11.13.
17. the calculation of 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 of the bond from the bond is eliminated.
19. Taxation of the yield of the bond shall be carried out according to the applicable laws and
the laws of the United States. For interest income from bonds issued by
before the date of entry into force of article. III, section 6 of Act No. 192/2009 Sb.
It shall apply the provisions of § 36 odst. 3 of Act No. 586/1992 Coll., on income-tax
revenue, in the version in force before the date of entry into force of article. (III) point 6
Act No. 192/2009 Sb.
20. the issuer is not entitled to Ministry as repaying the released
the bonds before the maturity date, unless early repayment
the owner of the bonds referred to in section 21 of these emission conditions. The Ministry of
is authorised to acquire the bonds to their asset within the meaning of the provisions of §
15 paragraph 1. 4 of the Act on bonds. Own bonds acquired by the issuer
before the date of maturity do not expire, unless the issuer decides otherwise.
21. the owner has the right to ask the Ministry of bonds as the issuer
through a Distributor on the early repayment of all or part of it
owned by the bonds according to the following timetable:
-----------------------------------------------------
The date of the first date the date
the last possible early
submission of the application to the possible repayment of the
early submission of the application
for early repayment
the repayment of the
-----------------------------------------------------
2.9. 2013 28. 11.2013 31. 12, 2013.
2.12. 2013 27. 2.2014 31. 3.2014
3.3. 2014 29. 5.2014 30. 6.2014
2.6. 2014 28. 8.2014 30. 9.2014
1. the 9. 2014 27. 11.2014 31. 12.2014
1.12. 2014 26. 2.2015 31. 3.2015
2.3. 2015 28. 5.2015 30. 6.2015
1. the 6. 2015 28. 8.2015 30. 9.2015
1. the 9. 2015 27. 11.2015 31. 12.2015
1.12. 2015 26. 2.2016 31. 3.2016
1.3. 2016 27. 5.2016 30. 6.2016
1. the 6. 2016 30. 8.2016 30. 9.2016
1. the 9. 2016 29. 11.2016 30. 12.2016
1.12. 2016 27. 2.2017 31. 3.2017
1.3. 2017 30. 5.2017 30. 6.2017
-----------------------------------------------------
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 and the nominal value of
the relevant bonds will be paid out 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). One owner of the bonds may
one date of early repayment request early repayment of 100% of the
(in words: one hundred per cent) owned bonds to a number of pieces of 500 000
(in words: five hundred thousand) including and not more than 50% (fifty percent) of the
It is owned by the bonds over a number of pieces of 500 000 (in words: five hundred
a thousand). Early repayment of the bonds expire at the same time with the law
the owner on the yield. The amount corresponding to the nominal value of the bonds
the owner and the relative yield will be the owner when
early repayment paid by bank transfer, payment account
that is denominated in the domestic currency and the country in which the owner of the bonds
must indicate when the subscription, transfer or gradient of the bond. Possible change
payment account shall notify the owner of the bonds through a Distributor.
The total amount of the proceeds of pro rata to the number of pieces, in which it was filed
request for early repayment, payable to the owner for the period from the date of
initiation of the relevant revenue period until the date of early repayment,
shall be rounded down to pennies.
22. Bonds will be redeemed at their nominal value at the date of 12. 12.2017,
If the owner fails to file a request for early repayment of the bonds referred to in point 21
These emission conditions or if the owner fails to file an application for reinvestment
the last of the proceeds and the nominal value of these bonds according to item 24
These emission conditions. To this date, ending 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 has the person who is entitled to exercise the rights associated with the
bonds on the date 12. 11.2017. The nominal value of all bonds
the owner will be repaid, together with the payment of the last return to the person
who is the owner of the bonds on the date 12. 11.2017. If the date falls
the repayment of the nominal value of the bonds and the payment of the final yield on
day that is not a business day, will be carried out following the first
a working day without entitlement to payment of the proceeds for this postponement of the payment.
23. 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
According to these emission conditions. To ensure repayment of the bonds and
payment of the revenues involved in the Czech National Bank and the Ministry.
The contract, which is arranged to ensure repayment of the bond and the payment of
yield is accessible on-demand by the issuer. The nominal value
the bond is repaid along with the payment of the last yield
payment by bank transfer on the account, which is maintained in the country in the
the domestic currency, and that is the owner of the bonds shall state when you subscribe for,
transfer or gradient of the bonds, except where the owner of the bond request
the last time reinvestment of the proceeds and the nominal value of these bonds
According to point 24 of the issue conditions. Change payment account
shall notify the owner of the bonds the Ministry through the Distributor.
24. The owner of the bonds shall be entitled to request the Ministry as the issuer
through a distributor of reinvestment of the last income and
the nominal value of all or part of it is owned by the bonds of this issue
bonds. In this case, will not be the owner of the bonds, their
last yield and the total nominal value or its relevant part
paid by bank transfer to the account of payment in accordance with section 23 of the
issue conditions, but will be in the amount required by the owner
reinvested in bonds designated by the issuer. Notice of the date,
from which it is possible to request a reinvestment of the last income and
the nominal value of the bonds, and bonds, to which it is possible
the last return and nominal value of the bonds to reinvest, to
published in advance on the website
of the Ministry. About the reinvestment of the last income and the nominal value of all
or part owned Bonds asks the owner of the bond administration
application for reinvestment of the last income and the nominal value of bonds
through a Distributor. The total amount of the proceeds of the bonds
the owner of the number of pieces in which a request was made for re-investment
the last of the proceeds and the nominal value of the bonds, the last of the yield
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
applying for the re-investment of the proceeds and the nominal value of the last
bonds is 11. 11.2017.
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 rules of the separate registration of government bonds held
the Ministry is binding for all bond owners and distributors
and published on the Ministry's website.
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 the operational order of the separate register state
bonds held by the Ministry.
31. these terms and conditions may be translated into foreign languages. If there is a
a conflict between the different language versions, the issue conditions, shall decide
This Czech version.
Minister:
Ing. Kalousek in r.
