281/2011 Sb.
The COMMUNICATION FROM the
The Ministry of finance
of 15 November 2004. September 2011
which determine the conditions for Reinvestment savings State bond
The United States, 2011-2016, VAR,%
The Ministry of Finance issued Treasury bonds in accordance with the provisions of section
25 of the Act No 190/2004 Coll. on bonds, as amended
(hereinafter referred to as the "law on bonds") and specifies the terms and conditions
Reinvestment savings Government bond of the Czech Republic, 2011-2016,
VAR%:
1. basic characteristics of the bonds:
Issuer: Czech Republic-Ministry of finance
Name: Reinvestment savings State bond of the Czech Republic, 2011-2016,
VAR%
Abbreviated name: SSD-R CR, VAR%, 16
Serial number of the emission: 66.
Nominal value: 1.0-Eur (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
Date of beginning of the emission period: 3.10. 2011
The end date of the emission period: 11. 11.2015
Issuing date: 11. 11.2011
Maturity date: 11. 11.2016
Interest income for the first period from 11. 11.2011 to 11. 11.
2012:0.85% p. a.
Interest income for the second period from 11. 11.2012 to 11. 11.
2013:1.50% p. a.
Interest income for the third period from 11. 11.2013 to 11. 11.
2014:3.00% p. a.
The interest yield for the fourth period from 11. 11.2014 to 11. 11.
2015:4.50% p. a.
Interest income for the period from 11 to five. 11.2015 to 11. 11.2016:
6.00% p. a. 1
The taxation of interest income: according to the legislation of the Czech Republic
Isin: CZ0001003297
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, which release
Government bonds.
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 the budgetary rules, in the
as amended, the Ministry of Finance (hereinafter referred to as "evidence
the Ministry ").
4. Bonds may subscribe for only:
and) means a natural person,
(b)) Civic Association
(c)) of the Foundation or Endowment Fund,
(d)) a registered church or religious society,
e) charitable or
(f)) a foreign person with similar activities as one of the persons referred to in
(b)) to (e)).
5. the Ministry of finance as the issuer does not intend to apply for admission
bonds to trading on a regulated European market or in
multilateral trading system located in a Member State of the European
Union. Bond trading on the transfer parts
out of the question.
6. The total projected nominal value of the bond issue is 4 000 000
000. Bonds may be in accordance with the provisions of section 11 of the Act on
bonds issued in a small or large volume of emissions than was
estimated total nominal value of the bond issue.
7. Bonds to be issued after each of the sections (tranches). Sale
the first tranche will take place in the form of subscription. The release of the second and each additional tranche
a reinvestment of interest income bonds issued in
previous instalments, the date of reinvestment of interest income.
8. Bonds are offered to subscribe for the first tranche in the Czech Republic.
Activities associated with the subscription of bonds ensures the Czech National Bank and
the person to whom the conduct of such activities, together they have appointed the Ministry of
Finance and the Czech National Bank (hereinafter referred to as "distributors"). For a list of
distributors shall be published on the website of the Ministry of
finances.
9. The underwriters mentioned in point 4 of the application for the first tranche of bond
bonds of this issue through the Distributor. One underwriter
You may subscribe to a subscription request through one of the bonds in the number of pieces
at least 1 000 (one thousand). Underwriters are required when submitting a
request for subscription to a distributor in a credible way demonstrate that they belong
among the persons referred to in point 4. Subscription price means the total nominal
the value of the subscribed bonds multiplied by the emission rate. The Subscriber is
obliged to pay the price of the bond within five working days of the date of
request for subscription through the Distributor. At the moment of payment of the price
subscription of the originator of the cash account of the distributor with the request for bond becomes
a valid, binding and cannot be cancelled. From the date of payment of the subscription price in the
the issue date is not this amount shall bear interest. The first tranche of bonds of this subscription
the emission is terminated by a decision of the issuer, or on 1 January 1999. 11.2011 depending on
whichever is the earlier. After the day on which the first tranche of subscription ended already
subscription requests will not be accepted. Underwriters who make an application for
the first tranche of bond not later than the day preceding the day of the termination of the subscription
the first tranche, shall be entitled to five working days, to reimburse the price of the subscription
on the cash account of the Distributor.
10. The request for conversion of the bond a bond owner served through
Distributor. The bonds are converted without a settlement.
The bonds can be converted only to the persons referred to in point 4 of these emissions
terms and conditions. The person to which the bonds are transferred, is obliged to, when you subscribe
Distributor credible way demonstrate that belongs to the people
referred to in point 4. On the last day there will be transfers
in the records of the Ministry, the bonds is 11. 10.2016.
11. The bonds shall be remunerated at a fixed rate of interest, which for each revenue
the period is increasing. Interest income (coupons) are reinvested, and always to
11.11. starting in 2012, with the exception of the last interest income, which
the owner of the bond is paid together with the nominal value at the date of
the maturity of the bond. Reinvestment conditions, interest income means that the
the owner of the securities account as of the date the bonds are interest reinvestment
revenue credited to the bonds of the same issue in the total nominal value
corresponds to the volume of interest income from all bonds of the same owner
emissions over a given period. If the day falls in the reinvestment interest rate
the yield on a day which is not a working day, the bonds
credited to the securities account of the owner of the bonds, the first of the following
working day. The volume of interest income from all the bonds the owner
the interest period for the purpose of reinvestment rounded up to whole
Crown upwards. Reinvestment conditions, interest income increases the number of
pieces of the bond owner and the volume of emissions. The total amount of the last
interest income from all bonds of the owner to be paid to the owner of the
shall be rounded down to pennies.
12. Record day for the right to interest income in the form of reinvestment
one month preceding the day of the reinvestment of interest income. Interest income
in the form of reinvestment will receive always the person who is the owner of the bond 11.
10. starting in 2012. Interest income in the form of reinvestment in the first
period from the date of issue up to 11. 11.2012 receives a person who is
the owner of the bond 11. 10.2012.
13. calculation of aliquot interest is based on the actual number of
calendar days in a year and the actual number of days in the period (standard
Act/act). Dilute an aliquot portion of accrued interest income is added to the price of a bond
calculated from the date of issue.
14. Department of law on interest income of the bond from the bond is eliminated.
15. the Ministry of finance as issuer is not entitled to repaying
bonds issued before the due date, unless a premature
the repayment of the bond owner, or take to own property.
16. the owner of the bond has the right to ask the Ministry of finance as a
the issuer through the Distributor, early repayment of all or
part owned bonds in the following terms:
+-------------------+-------------------+-------------------+
| The first possible | The last | Date |
| date of filing | possible day | early |
| request | submitting the application | repayment |
| about premature | about premature | |
| repayment | repayment | |
+-------------------+-------------------+-------------------+
| 31.8. 2012 | 29.11. 2012 | 31.12. 2012 |
+-------------------+-------------------+-------------------+
| 3.12. 2012 | 27.2. 2013 | 2. the 4. 2013 |
+-------------------+-------------------+-------------------+
| 1.3. 2013 | 29.5. 2013 | 1.7. 2013 |
+-------------------+-------------------+-------------------+
| 31.5. 2013 | 29.8. 2013 | 30.9. 2013 |
+-------------------+-------------------+-------------------+
| 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 |
+-------------------+-------------------+-------------------+
The owner of the bond is entitled to a proportional part of the accrued interest income
for the period from the date of issue until the date of early repayment. One owner
can a single date of early repayment through a single request
early repayment request early repayment of owned
bonds in a number of pieces of at least 1000 (one thousand). One owner can
one date of early repayment request early repayment of 100% of the
owned bonds to a number of pieces of 500 000 (five hundred thousand) including
and not more than 50% owned bonds over the number of pieces of 500 000 (five
hundred thousand). Early repayment of the bonds expire at the same time with the law
the owner for payment of future interest income. The nominal value
the owner of the bonds, and the proportion of the relevant interest income will be
paid to the owner in the early repayment by bank transfer to the
the cash account, which is denominated in the domestic currency and the country in which it is
the owner of the bonds must indicate when the subscription, transfer or gradient
the bond. Any amendment shall notify the owner of the bond money account
through a Distributor.
17. the issuer declares that the due date of each owner owes
Bond nominal value of bonds owned. The bonds will be
repaid at their nominal value on the day 11. 11.2016. This day ends
the remuneration on bonds. The nominal value of all bonds of the owner will be
together with the final interest yield is paid to the person who is the owner of
bond on 11 July. 10.2016. If the day goes to the repayment of the nominal value
bond and payment of interest income on the last day, which is not
business day, the payment of the first following working day
without the right to return for this postponement of the payment.
18. the issuer agrees to repay the nominal value of bonds together with
the final interest yield of the bonds according to the owners of these emissions
terms and conditions. Payment is the Czech National Bank. The nominal value
bonds together with the final interest yield is paid
by bank transfer to the bank 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 bond. Any amendment to the monetary account shall notify the
the owner of the bond through a Distributor.
19. 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.
20. 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.
21. all the rights attaching to the bonds and coupons are issued to them in
the meaning of the provisions of section 42 of the Act on the expiration of the ten forfeited bonds
years from the date on which it could be invoked for the first time.
22. these terms and conditions shall be published in the statute book. Notifications for
the public on these bonds shall be published on the Internet
the Ministry of finance and other ways that allow remote
access.
23. a separate code of conduct register of government bonds held
The Ministry of finance is binding for all owners of bonds and
published on the website of the Ministry of finance.
24. The Ministry of finance reserves the right to make all acts
related to the keeping of the Ministry, by subscription, transfer,
early repayment, entries in the register of the Ministry, changes to the data and the
other related activities defined Operational regulations separate
evidence of government bonds held by the Finance Ministry.
25. these conditions can be translated into foreign languages. If there is a
a conflict between the different language versions, the issue conditions, shall decide
Czech version.
Minister:
Ing. Kalousek in r.
