99/2014 Sb.
The COMMUNICATION FROM the
The Ministry of finance
of 19 December 2003. may 2014,
which determine the conditions for Reinvestment savings State bond
The Czech Republic, 2014-2019, FIX%
Ministry of Finance (hereinafter referred to as "the Ministry") is issued by book-entry
Government bonds in the range specified by special law, and specifies their
conditions in accordance with the provisions of section 26 of Act No. 190/2004 Coll., on
bonds, as amended, (hereinafter referred to as "the law of
Bonds '). These terms and conditions more fully delineate the rights and
the obligations of the issuer and of the owners of the bonds, as well as information on the issue
and Reinvestment savings bond Government bond
The Czech Republic, 2014-2019, 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, 2014-2019,
FIX%
Abbreviated name: SSD-R CR, FIX%, 19
Serial number of the emission: 92.
Nominal value: 1 € (in words: one Czech Crown)
The emission rate for the date of the issue: 100% (in words: one hundred percent) of the nominal value
Form of a bond: book-entry securities to bearer
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: 19. 5.2014
The end date of the period for the subscription of emissions: 12. 6.2018
Issuing date: 12. 6.2014
Maturity date: 12. 6.2019
The yield of the bond: determined by the fixed interest rate
Tax treatment of the proceeds of the bonds: according to the legislation of the Czech Republic
Isin: CZ0001004303
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 bonds are issued as book-entry securities and are
recorded in a separate register, which leads from the provisions of § 35 para.
1 (b). d) of Act No. 218/2000 Coll. on budgetary rules and amending
certain 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)) a trade union or employers ' organisations,
c) professional Chamber or professional organisations,
(d) the Board of a legal person), whose founder is 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,
(e)), 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,
f) established a public University within the meaning of Act No. 111/1998 Coll., on
universities and amending and supplementing other acts (the Act on the high
schools), as amended,
(g)), a public Research Institute, established in accordance with Act No. 341/2005 Coll.
about public research institutions, as amended,
h) Czech television, established by 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,
I) 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 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,
j) territorial self-governing units and higher territorial self-governing units the United
Republic or the capital city of Prague,
to set up voluntary villages) within the meaning of Act No. 128/2000 Coll., on the
municipalities (municipal establishment), as amended,
l) 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,
m) owners of units within the meaning of Act No. 72/1994 Coll.
the law on the ownership of apartments, as amended, or
owners associations within the meaning of Act No. 513/91 Coll.,
the civil code, as amended, (hereinafter the "civil
Code "), or
n) foreign legal person with similar activities as some of the people
referred to in subparagraphs (a) (b)), and (c)),
(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 5 0000 0000
000 € (in words: five 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 100
0000 0000 0000 € (in words: one hundred 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 the bonds the bonds according to item 13 of the issue conditions
the offer to subscribe for the public in the Czech Republic. Activities associated with the
subscription of bonds, the Ministry provides, and persons for the performance of
the selected actions, the Ministry instructed, (hereinafter referred to as "distributors",
Alternatively, the "distributor"). Distributors to start date deadline for
subscription to the emissions are Česká spořitelna, a.s., Československá obchodní
Banka, a. s., Komerční banka, a.s. and the current list of distributors,
the individual distribution points and ways of organization and technical
ensure the subscription of bonds shall be published on the website
of the Ministry.
9. The underwriters mentioned in point 4 of these emission conditions served
request for subscription debentures of the relevant tranche bond issue, in a manner
allowing remote access through the website
the Ministry and, where applicable, under the conditions specified and published by the issuer
also through distributor (hereinafter referred to as "request subscription"). One
the Subscriber can subscribe through one application for subscription bonds
the number of pieces of at least 1000 (in words: one thousand). One underwriter may
to make a request/application for a subscription when the subscription of bonds each of the tranches of emissions
bonds according to points 12 and 14 of these emission conditions in the total number of
pieces of not more than 1 0000 0000 (in words: one million) for each individual
tranche of the bond issue; If a tenderer submits more than one application on the bond underwriter,
the number of pieces of the subscribed bonds are added together. In the case of the submission of
the application/applications for subscription of bonds for a total of more than 1 000 pieces
000 (in words: one million) will be every single request in excess of the
the total number of pieces is rejected in its entirety. The underwriters are
required to request a subscription to the Ministry or to the Distributor
a trusted way to certify that they belong among the persons referred to in point 4
These emission conditions and prove their authority to act on behalf of such
people or for such persons. Bonds can't subscribe for or acquire for the account of
the Trust Fund within the meaning of § 1448 et seq.. of the civil code. The price of the
subscription of bonds of the relevant tranche bond issue means the total
the nominal value of the bonds underwritten one originator
through a single request for bond multiplied by their IPO
(hereinafter referred to as "the price of the subscription of bonds"). The Subscriber is obliged to pay the price
subscription of the bonds within three working days from the date of each individual
applications for subscription for shares of the relevant tranche bond issue, unless the Ministry of
no later than the start date of the subscription period of the relevant tranche of emissions
bonds otherwise. At the moment of payment of the price of subscription bonds means
crediting of funds on a payment account or Ministry
Distributor and this subscription request at the moment of becoming for underwriters
a binding and an underwriter can no longer cancel it. In the case of the submission of
applications/subscribe requests directly to the Ministry it is possible to pay the price of subscription
bonds only by bank transfer on the payment account of the Ministry.
From the moment of payment of the price of the subscription of the bonds to the date of issue of the relevant
tranche of the bond issue is not this amount shall bear interest. After the published date
end of the subscription period of the relevant tranche bond issue can no longer be
the tranche of bonds bond issue to underwrite, unless the
the Ministry otherwise. Subscription for bonds, according to this point of issue conditions
includes reinvestment of the last income and the nominal value of all
or parts of government bonds, other bonds, whose emissions emission
the terms of this bond against issuer owner permissions
concede in the bonds of this bond issue, if this
the owner of the Government bonds of the issuer a reinvestment request; at the moment the
payment of the price of subscription bonds, in this case, means the filing date of the
This reinvestment request.
10. the underwriters of the bond request signature binding, affirm that the purpose and
the intended nature of (reason) subscription of bonds including the beneficial owner
bonds is in accordance with the nature and requirements laid down by these
conditions and these conditions do not circumvent. Underwriters
by signing the subscription request further affirm that any binding information and
the information provided in connection with an application for subscription, are complete and
true. In particular, data and information on the legal
the status and identification of the person mentioned directly in the underwriters request for
bond, such data and information that the Subscriber has provided
Ministry or to the distributor within the identification/registration
forms or the conclusion of related contracts, which are in any way
refer to the subscription of bonds. In cases of application/subscription requests
bonds in the total number of pieces of more than 500 000 (in words: five hundred
thousand) is the issuer shall be entitled to request further data and, in particular, underwriters
information regarding the origin of the funds, of which the price is
subscription of the bonds paid for, including source identification and range
income or other assets underwriters through which even indirectly
settlement price of the subscription of bonds. In the case of subscription bonds
the total number of pieces in the amount according to the previous sentence is always an underwriter
at any time, at the request of the issuer is obliged to provide the requested data and information
regarding the origin of the financial resources intended to cover subscription prices
bonds, including the identification of the intended purpose of subscription bonds,
through submission and signature of the competent statutory declaration;
If a tenderer submits more than one application on the bond underwriter, the numbers of units subscribed
bonds are added together.
11. in the case of exceeding the forecast total nominal value of the issue
bonds according to item 6 of these emission conditions can an issuer in the period from
the start date of the subscription period to the date of issue of the relevant tranche of emissions
bonds according to points 12 and 14 of these emission conditions, decide on the
a proportional reduction in the number of units subscribed the relevant tranche of bonds
bond issue, the individual originator; the result of the proportional reduction in the
individual subscriber shall be rounded to the nearest Crown downwards.
Reduction of subscribed bonds is done by first are fairly
shortened applications for subscription for one Subscriber in aggregate
exceed the total number of pieces 500 000 (five hundred thousand), with
the reduction applies only to the bonds in a number of pieces exceeding this total
the number of pieces. In the event that such reduction leads to the achievement of the maximum
the forecast total nominal value of the bond issue, the subscription request
individual subscribers to the total number of pieces in the amount of 500 000
(in words: five hundred thousand) already shortened are not any subscribers. If
in this way, the reduction is not achieved a maximum estimated total
the nominal value of the bonds, then in the second round of reduction
the relative reduction of subscribed bonds of all underwriters, regardless of the
the total number of units subscribed bonds one originator. The issuer
further reserves the right to deny any individual subscription request in the
If the issuer side doubts remain regarding the
the veracity of the provided data and information, doubts as to whether the
the subscription of the bonds in accordance with the nature and requirements laid down by these
conditions and even these do not circumvent, especially with regard to the
the circle of persons entitled to acquire these bonds according to item 4 of these
issue conditions and other obligations of the underwriters according to these emission
conditions, including doubts about the information provided on the origin of
or the financial resources intended to cover underwriting prices used
bonds and on the part of the issuer of the doubts will persist, in particular in the
When the underwriter to the issuer fails to submit the required information,
information or documents in accordance with point 10 of these emission conditions. For
in case of doubt on the part of the issuer of the bond will persist,
possibly arise only in respect of part of the subscribed bonds is
the issuer shall be entitled to refuse a request for subscription and only in relation to such
part of the subscribed bonds. If, in consequence of this partial
refusing a request for bond was bond underwriters, one less than 1 000
(in words: one thousand) bonds, thereby violating the terms and conditions
the minimum subscription of one subscription request according to the second sentence of paragraph 9
These emission conditions, the issuer is entitled to reject a request for subscription for shares in the
full. Unmet or partially uspokojeným subscribers of returns
the Ministry paid the price by subscribing to the bonds that have not been subscribed for,
but they were already paid to the originator of the payment account of the Ministry or
the Distributor, without undue delay, only by bank transfer to the
payment account from which the funds were remitted to the
the account of the Ministry or the Distributor, or the account specified in the payment
request for subscription in the case of payment of the price of the subscription of the bond in cash for
Distributor.
12. the subscription period for the first tranche of the bond issue is closed to date 4.
6.2014, or a date to be determined by the issuer, depending on which date occurs
previously.
13. the issue of the next tranches of the bond issue will take place in the form of reinvestment
the proceeds of bonds issued by emission of bonds in the previous tranches according to
points 16 and 17 of these emission conditions except for the final yield
bond, the yield of the bond on the date of reinvestment. The emission rate of all
bonds, issued in the form of reinvestment of the proceeds of the bonds to each date
reinvestment of the proceeds of the bond shall be 100% (in words: one hundred percent) of their
the nominal value.
14. On the issue of possible further tranche bond issue, with the exception of
tranche bond issue, according to points 12 and 13 of these emission conditions can
decide the issuer and identify the start date and the end date of the subscription
the period of the next tranche of the bond issue. Notice of any
other tranches bond issue shall be published on the Internet
Ministry's website. Any bonds issued by emission rate according to
This point of emission conditions will always be determined by the issuer, taking into account
prevailing conditions in the financial market, and after taking into account
any corresponding proportional yield to the date of issue of the relevant
tranche of the bond issue.
15.-request for conversion of the bonds shall be submitted in a manner allowing remote
access through the website of the Ministry and for
the conditions specified and published by the issuer, where appropriate,
through a Distributor. The bonds are transferred without money
the settlement. Transferability of the bonds in accordance with § 26 para. 6 of the Act
of bonds reduces and so the bonds can be converted only to the
person referred to in section 4 of these emission conditions. The person to whom the
the bonds convert, is required to request a transfer of bonds
the Ministry or the reseller is a trusted way to certify that
It belongs among the persons referred to in point 4 of these emission conditions and demonstrate
his or her authority to act on behalf of such persons or for such persons. Bonds
cannot be inserted into the Trust Fund within the meaning of § 1448 et seq.. of the civil
code. Transferability bonds shall, after the date 1. 5.2019.
16. 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 that provided for the first period from 12. 6.2014 (including
This day) to 12. 6.2015 (this day excluded) in the amount of 0.25% p. a.,
the second period from 12. 6.2015 (including this day) to 12. 6.2016
(this day excluded) in the amount of 0.25% p. a., the third period from 12.
6.2016 (including this day) to 12. 6.2017 (this day excluded) in the amount of
0.50% p. a., the fourth period from 12. 6.2017 (including this day)
to 12. 6.2018 (this day excluded) in the amount of 2.00% p. a. and fifth
period from 12. 6.2018 (including this day) to 12. 6.2019
(this day excluded) of 6.00% p. a. Proceeds are reinvested according to the
(17) these emission conditions once a year, always on the date 12.
6. starting in 2015, with the exception of the last of the proceeds, which is the owner of the
the bonds shall be paid together with the repayment of the nominal value of the bonds to the
the due date of the bonds according to item 24 of the emission conditions,
If the owner fails to file a request for a reinvestment of the last bond yield and
the nominal values of all or the relevant part of it owned by the bonds
This issue of bonds according to item 25 of these emission conditions (hereinafter referred to as
"request for re-investment bonds"). If there is a redemption of the bonds prior to the
the due date laid down in accordance with point 22 of the emission conditions,
the amount of the respective yield at the end of the period, which is the same as
date of early repayment, the nereinvestuje according to item 17
These emission conditions, but shall be paid to the owner of the bonds according to the
22 points and 24 of these emission conditions; reasonably be part of the sentence before
a semicolon used in the case of repayment of the bonds prior to the date of their
due in accordance with clause 9 of these emission conditions, with the relative yield
the owner of the bond in question is paid in accordance with clause 9 of these emissions
terms and conditions.
17. Reinvestment conditions yield means that the owner of the securities account
in the records of the Ministry are bonds to the date of reinvestment of the proceeds
bonds credited to the same bond issue in the total nominal value
that corresponds to the amount of the proceeds from all bonds of the same issue owner
bonds, after tax, taxes collected by deduction from the special tax rate
(hereinafter referred to as ' withholding tax ') for 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 the bond owner, after tax, taxes
taxes collected by deduction from the special tax rate for the relevant period
for the purpose of reinvestment of the proceeds shall be rounded down to the nearest Crown toward
up. Reinvestment conditions, yield increases the number of pieces of the bond owner
bonds on its securities account in the register of the Ministry and the total
the nominal value of the bond issue. The total amount of the last return on
all the bonds the owner of this bond issue, to be paid to the owner of the
bonds, except where the owner of a reinvestment request bonds bonds
According to section 25 of this issue conditions, after taxes taxes collected
the crash according to the special tax rate shall be rounded down to pennies. For the purposes of
the revenue of the withholding tax rate taxation according to the income tax Act, a specified
tax to residents of the United States and the tax to residents of the Contracting States
It is necessary to prove to the taxpayers of residence/residence for tax purposes in the United
Republic or in a Contracting State as valid proof of identity,
a sworn declaration or registration in the appropriate public register.
A Contracting State shall mean the Member State of the European Union and the European
economic area and the State, which is closed by force and effect
the contract or agreement that contains the provisions for the exchange of information in tax
matters. For the purposes of the application of the preferential tax rates resulting from the
relevant international treaties for avoidance of double taxation, it is necessary to
tax residence show accompanied by a certificate of tax residence
issued by the competent foreign tax administrator. Furthermore, for the purposes of
applying the relevant rate of withholding tax to demonstrate also the Honorable
statement of beneficial ownership of income. If there is no proof of
the above documents no later than the day that three working days
reinvestment date yield, so the amount of the tax refund will be
paid only by bank transfer to the account of payment, which is
held with banks or branches of foreign banks in the domestic currency (CZK)
territory of the country and that is registered in the securities account of the owner of the bonds in the
the register of the Ministry, according to point 24 of the issue conditions.
18. The yield shall be determined as the 12-month period, from 12.
6. (including this day) in the year to 12. 6. (this day excluded)
the year following. The first period for the reinvestment of the proceeds with the
down from 12. 6.2014 (including this day) to 12. 6.2015 (this day
excluded). The calculation of the yield and the relative yield is based on conventions
the actual number of calendar days in a year and the actual number of the past
days in the výnosovém period (standard "ACT/ACT ICMA). Pro rata
the revenue is counted in the price of the bond from the issue date or from the date of
initiation of the relevant income of the period to the date of calculation of proportional
yield. The proportional amount of the proceeds of the bond for one belonging to the
any period less than one year shall be determined as a multiple of the nominal
the value of the bonds and the interest rate fixed for the relevant
period and the relevant fraction of days calculated as a proportion of
the actual number of days from the start date of the relevant income of the period in
data calculation of relative yield and the actual number of days of the relevant
revenue for the period. The total amount of proportional yield of all bonds of the
the owner of this bond issue is for the purpose of calculating the relative yield
shall be rounded down to pennies.
19. The yield specified under points 16 and 17 of these emission conditions always receives
the person who is the owner of the bonds to the date 13. 5. starting in 2015.
The yield in the form of reinvestment of proceeds for the first period from the date of issue
(including this day) to 12. 6.2015 (this day excluded) to receive the person
who is the owner of the bonds to the date 13. 5. in 2015.
20. The Department of Justice on the yield from the bond is eliminated.
21. the issuer is entitled to write bonds when they are released first on the
the issuer's securities account in the register of the Ministry according to the provisions of § 15
paragraph. 4 the law on debt and the acquisition of bonds before the date of their
maturity, including the sale of bonds at any time after the issue date for the
any price and under other conditions specified by the Ministry. Custom
bonds acquired by the issuer prior to maturity date, including
bonds purchased by the issuer, do not expire, and is at the discretion of the issuer,
whether it is the property of the issuer and of the leaves or is sold, or whether it decides to
otherwise. The issuer further according to the provisions of § 9 para. 2 (a). to) of the
bonds to repay bonds reserves the right prior to the date of their
maturity, including the relative yield in case, when on the side of the issuer in
relation to the owner of the bonds raised doubts as to the
the veracity of the provided data and information or other doubts as to
whether the subscription of the bonds in accordance with the nature and requirements laid down
those conditions or whether they do not circumvent, especially with
regard to the circle of persons entitled to acquire these bonds according to item 4
These emission conditions and other obligations of the underwriters, respectively.
owners of the bonds according to the emission conditions, including doubt as to the
the information provided on the origin of funds or
used to cover the price of the subscription of bonds, and at the same time these doubts
will persist even after the application of the procedure in accordance with point 10 of these emissions
terms and conditions. For the avoidance of doubt shall be that on the part of the issuer
doubts remain, in particular in the case where the owner of the
the issuer fails to submit the required data, information or documents in accordance
with point 10 of these emission conditions. In case of doubt
the issuer will persist even after the application of the procedure in accordance with point 10 of these
issue conditions, and only in relation to the bonds of the
owner, the issuer is entitled to pay only a portion of the bonds of the
the owner before the date of maturity. If, in consequence of this
the procedure in the ownership of the owner of the bonds in question remained less than 1
000 (in words: one thousand) bonds, the issuer is entitled to pay off
all of the bonds owned by the owner concerned before the date of their
maturity. The notification to the issuer on the redemption of the bonds prior to the date of their
due date (hereinafter referred to as "notice of the issuer, an early repayment") is
the issuer shall be entitled to send to the address indicated in the request for subscription or
the registered owner of the securities account in the register of bonds
the Ministry and to do so through the Distributor, while
the issuer or the distributor shall be entitled to deliver the affected owner
notification of the issuer of the bonds early repayment through
your mail service provider. The decision of the issuer on the redemption
the nominal value of all or part of the owner of the bonds
before the date of maturity of the bonds is effective upon delivery
notification of the issuer owner concerned about early repayment
bonds; If the owner refuses bonds receipt of notification
the issuer of an early repayment, there are effects of delivery of this
notification of the time denied his admission. If the owner of the
the bond issuer to deliver notification of early repayment
in the event, the effects of delivery occurs at the moment when the deliveryman about the
for the first time tried to delivery, provided that the document was then in the
accordance with applicable postal conditions imposed and the owner of the
It's bonds still failed to claim within the prescribed period. If you fail to
notification of the issuer owner concerned an early repayment of bonds
deliver because at the point of delivery delay, effects
at the moment the delivery documents to its sender undelivered refund,
i.e.. to the issuer or to the Distributor. From the date on which the time
delivery/receipt of the notification of the issuer effects of early repayment
including, not by number of individual bonds, to which the repayment of the bonds prior to the
the date of maturity refers to convert. For this purpose, the issuer's
reserves the right, from the moment of dispatch of the notice to the issuer on early
repayment to the time when delivery will be demonstrated to the issuer/effects
receipt of notice of the issuer owner concerned about early repayment
bonds, block the number of pieces of the bonds to which the decision of the issuer
about the repayment of the bonds before their maturity date applies. The issuer, or
then it does not make the conversion of the bonds shall not be registered/on the basis of the statement to
registration of a transfer of a bond, which was delivered on the day of the issuer and/or after
the date on which the time of delivery/receipt of the notification of the issuer effects
an early repayment. The number of pieces of the bonds, which are made by the
the issuer paid before the date of maturity, including the date of early
repayment of the bonds, to be paid in this way before the date of maturity shall
notification of the issuer the issuer in an early repayment, with the time
maturity does not exceed 30 (thirty) days. For the determination and calculation of the
the resulting amount is repaid including the method of taxation shall apply paragraph 22
These emission conditions, mutatis mutandis, with the expectation that the amount will be
repaid to the person who is the owner of the bonds on the date of delivery/effects
receipt of notice of the issuer, an early repayment. The amount corresponding to
the nominal value of the bonds and the relative yield owner after
taxation tax charge deduction according to the special tax rate will be
the owner of the bonds at the redemption before the date of maturity
paid only by bank transfer to the account of payment, that is kept
at a bank or a branch of a foreign bank in local currency (LCY) in the Czech Republic and
that is registered in the securities account of the owner of the bonds in the register
of the Ministry. Repayment of the bonds before the maturity date will be considered void
at the same time with the right owner to yield. The total amount of the corresponding
the total nominal value of the bonds to be paid before the date of their
maturity and its yield or relative yield number of pieces
the bonds paid before the date of maturity to be paid to the owner of the
bonds for the period from the start date of the relevant income of the period in
the date of early repayment charge, after tax according to tax deduction
special tax rate shall be rounded down to pennies.
22. The owner of the bonds may request the issuer in a manner allowing remote
access through the website of the Ministry and for
the conditions specified and published by the issuer, where appropriate,
through a Distributor on the repayment of the nominal value of all or
part owned bonds of this bond issue before the fixed
the due date according to the terms set out below and in the following
Schedule (hereinafter referred to as "request for early repayment"):
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The period for the submission of applications for early repayment
The date of the
The date of the first possible date of last possible early
submission of the application by the owner of the request the owner of the repayment
bonds bonds
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1.4. 2015 30. 4.2015 12. 6.2015
1.4. 2016 29. 4.2016 12. 6.2016
3.4. 2017 28. 4.2017 12. 6.2017
3.4. 2018 30. 4.2018 12. 6.2018
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The yield for the period from the start date of the relevant revenue
the period until the date of early repayment will be after taxes taxes collected
deduction of the tax paid by a special rate and the nominal value of the
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 can only be administered in the periods for
submission of applications for the early repayment of designated by the issuer pursuant to this
point of emission conditions. From the moment of submission of the request for early repayment
the piece cannot be in bonds, in which the application is lodged by
the early repayment, transfer. One owner of the bonds may have to
one early redemption date only one handed a request for early
repayment and through it, to ask for the repayment of the owned
bonds before the fixed date of maturity in the number of not less than 1 000
(in words: one thousand). In the case that the number of units owned by the bonds on
the owner of the securities account of the bonds is less than 1000 (in words: one
a thousand), the owner may ask for repayment of the bonds owned
bonds before the fixed date of maturity in the number of pieces smaller than 1
000 (in words: one thousand), if requested by the repayment of all the pieces of it
owned by the bonds that registered on the securities account in the register
the Ministry before the scheduled maturity date. A bond owner
can one apply for the date of early repayment early repayment of 100
% (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). Bonds repayment before the due date will be considered void
at the same time with the right of the owner of the bonds to yield. The amount corresponding to
the nominal value of the bonds and the owner the proceeds after tax
taxes collected by deduction from the special tax rate will be the owner of the
When you repay the bonds before the maturity date paid only
payment by bank transfer on the account, which is maintained at a bank or
branches of foreign banks in the domestic currency (CZK) field in the country and that is
registered owner of the securities account in the register of bonds
of the Ministry. If the date falls in the early repayment on a day which is not a
working day, payment will be made immediately following the
a working day without the right to return for this postponement. Change payment
shall notify the owner of the bonds the Ministry account in a manner allowing
remote access through the website of the Ministry and for
the conditions specified and published by the issuer, where appropriate,
through a Distributor, unless the Ministry otherwise. Total
the amount corresponding to the total nominal value of the bonds to be paid before
laid down by the due date and the corresponding yield number of pieces
bonds, in which the application is lodged, early repayment,
paid to the owner of the bonds for the period from the start date of the relevant
revenue period until the date of early repayment after taxes taxes
taxes collected by deduction from 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. 6.2019,
unless the repayment of bonds before maturity date, according to the
section 21 or 22 of the emission conditions, or in the absence of the owner
a reinvestment request bonds bonds according to item 25 of these emissions
terms and conditions. To this date, ending the remuneration on bonds. 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 to the date 13. 5.2019. 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
immediately following the working day without the right to return for this
the postponement.
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 by yield
These emission conditions exclusively in CZK or another currency,
that will be the date of the payment of the legal currency of the United
of the Republic. On the security of repayment of the bonds and reinvestment and payment of the
the proceeds are involved in the central securities depository, a.s., Czech
the National Bank and the Ministry. The Issuer reserves the right at any time
authorize another or another person, to participate in the security of repayment
reinvestment and payment of the bonds, and the proceeds. Notice of such potential
other accredited persons will be published on the website
of the Ministry. This change may not be caused by the owners of the bonds
the injury and any such amendment will be effective no later than 30 days
before the date, and the first thirty days after the date of their respective
the revenue of the period or early repayment. The nominal value
the bonds will be repaid, together with the payment of the last of the proceeds after tax
taxes collected by deduction from the special tax rate non-cash only
transfer on a payment account held at a bank or a branch
foreign banks in the domestic currency (CZK) field in the country and that is registered 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 re-investment of bonds according to item 25 of these
issue conditions. Change payment account shall notify the owner of the bonds
the Ministry in a way allowing remote access through
the website of the Ministry and under the conditions specified and
published by the issuer or through the Distributor,
unless the Ministry otherwise. The total amount of the last return from all
bonds, the owner of this bond issue, to be paid to the owner of the
bonds after taxes taxes collected by deduction from the special tax rate
shall be rounded down to pennies. The owner of the bonds, which is a tax resident
the Contracting State with which the contract is concluded to avoid double
taxation is for the application of the benefits of this agreement
required to prove tax residence accompanied by a certificate of tax
residence issued by the competent foreign tax administrator to the appropriate person
involved in the repayment of bonds and security payment of proceeds from
This point of emission conditions. Notification of the designation of this person
be published on the website of the Ministry. If the owner of
bonds does not confirm the actual ownership of the interest income from held
bonds and residence/residence for tax purposes, i.e., in a Contracting State. in
Member State of the European Union and the European economic area, or
in the State or jurisdiction, with which the Czech Republic has concluded a valid
and an effective agreement that contains the provisions on the exchange of tax information, and
the actual owner of the Ministry will have the necessary
information, the appropriate rate of tax withholding from
special tax rate according to the income tax Act, the designated payers
who are not tax residents of the Contracting States.
25. If the Ministry in sufficient time before the
the due date, the owner of the bonds shall be entitled to request
ask the issuer of the bonds be reinvested in a manner allowing remote
access through the website of the Ministry,
unless decided otherwise, the Ministry of revenue and the reinvestment of the last
the nominal value of all or part of it is owned by the bonds of this issue
bonds. In this case, the owner of the bonds shall be paid
their last revenue and will not be repaid, the total nominal value or
the relevant part of the payment by bank transfer on the account in accordance with clause
24 the issue conditions, but will be on the owner of the required amount of
reinvested in government bonds designated by the Ministry.
Reinvested in the bond request cannot reinvest the nominal
the value of the bonds loaded with rights of third parties, in particular the law
Lien, or nominal value of the bonds, which is in the records
the Ministry registered the suspension of the rights of the owner of the bonds
to dispose of. Notice of the period in which it is possible to request a
reinvestment of bonds and Government 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. The owner of the bonds through a single request may
reinvested in the bond request a reinvestment of the nominal value by
owned by the bonds to government bonds designed by the Ministry of the
the number of pieces of at least 1000 (in words: one thousand) and about the reinvestment
the last time the yield only in the full. The total amount of the proceeds of
the owner of the bonds the bonds after tax taxes collected by deduction from
special tax rate for the most recent period for the purposes of
the last time reinvestment proceeds and the nominal value of bonds
rounded up to the nearest Crown upwards. 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. For the purposes of taxation
the revenue of the withholding tax rate according to the income tax Act, a specified tax
residents of the United States and the tax to residents of the Contracting States is
need to prove taxpayers resident/residence for tax purposes in the United
Republic or in a Contracting State as valid proof of identity,
a sworn declaration or registration in the appropriate public register.
A Contracting State shall mean the Member State of the European Union and the European
economic area and the State, which is closed by force and effect
the contract or agreement that contains the provisions for the exchange of information in tax
matters. For the purposes of the application of the preferential tax rates resulting from the
relevant international treaties for avoidance of double taxation, it is necessary to
tax residence show accompanied by a certificate of tax residence
issued by the competent foreign tax administrator. Furthermore, for the purposes of
applying the relevant rate of withholding tax to demonstrate also the Honorable
statement of beneficial ownership of income. If there is no proof of
the above documents no later than the day that three working days
reinvestment date of the bonds, so the amount of the tax refund will be
paid only by bank transfer to the account of payment, which is
held with banks or branches of foreign banks in the domestic currency (CZK)
territory of the country and that is registered in the securities account of the owner of the bonds in the
the register of the Ministry, according to point 24 of the issue 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, the repayment of the bonds before the due 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 of this point of emission conditions will be remitted on
payment account logged in the records of the Ministry of two working days before
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 debts the United
States that are on the same level with all the other existing
and future direct, unconditional and nepodřízenými debts the United
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.
Any notice to the owners of the bonds and the notification to the public
on these bonds shall be published in the Czech language to the
the Ministry's website in the section in which the issuer publishes
information about government bonds issued by him.
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, subscription bonds, repayment of the bonds
before the date of maturity, yield and reinvestment conditions last rated
the value of the bonds, the entries in the register of the Ministry, changes to the data and the
other related 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 different language versions, the issue conditions, is
Czech version.
Minister:
Ing. Sport in r.
