387/Sb.
The COMMUNICATION FROM the
The Ministry of finance
from day 4. November 2013
which determine the conditions for the anti-inflationary savings State
the bond of the Czech Republic, 2013-2020 (II), 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 (II), 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 (II), CPI%
Abbreviated name: SSD-as well as the CZECH REPUBLIC, CPI% 20 (II)
Serial number of the emission: 87.
Nominal value: 1 € (in words: one Czech Crown)
The emission rate for the issue date: 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: 4.11. 2013
The end date of the period for the subscription of emissions: 12. 6.2020
Issuing date: 12. 12, 2013.
Maturity date: 12. 12.2020
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: CZ0001004204
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, according 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 of natural persons or the shooting of the Fellowship,
(c)) Trade Union or employers ' organisations,
(d)) of the Foundation or Endowment Fund,
e) charitable,
f) professional Chamber or professional organisations,
g) educational 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,
(h)), 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,
I) 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,
(j)), a public Research Institute, established in accordance with Act No. 341/2005 Coll.
about public research institutions, as amended,
for Czech television, established by law) 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,
l General health insurance company) of the Czech Republic 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,
m) local government units and higher territorial self-governing units the United
Republic or the capital city of Prague,
n) voluntary townships established by Act No. 128/2000 Coll., on the
municipalities (municipal establishment), as amended,
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 (f)),
(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 500 000
000 € (in words: five hundred million 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
0000 0000 0000 € (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. 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., J T & BANKA, a.s., Komerční banka, a.s. Bonds will be
also called upon to subscribe to selected branches of Česká Pošta, s.p. current list
distributors, each distribution of places and ways of organization and
technical securing of subscription of the bonds shall be published on the Internet
Ministry's website.
9. The underwriters mentioned in point 4 of these emission conditions served
request for subscription debentures of the relevant tranche bond issue
through a Distributor and under the conditions specified and published
the issuer also through the Ministry (hereinafter referred to as "request subscription").
A Subscriber can subscribe to through one application for subscription
bonds in a number of pieces of at least 1000 (in words: one thousand). One
the Subscriber may submit a request/application for a subscription when the subscription of bonds each of
tranche bond issue, according to points 12 and 14 of these emission conditions in
the total number of pieces not exceeding 50 0000 0000 (in words: fifty million) for
each tranche of the bond issue. Underwriters are required to
request a subscription by the Distributor or the Ministry of trusted
way to certify that they belong among the persons referred to in point 4 of these
issue conditions, and to prove your authority to act on behalf of the following persons
or for such persons. The price of the subscription of the relevant tranche of bonds issue
bonds means the total nominal value of the bonds underwritten
one by one the originator of the request for bond multiplied by the
their IPO (hereinafter referred to as "the price of the subscription of bonds"). The Subscriber is
obliged to pay the price of the subscription of bonds within five working days from the date of
end of the subscription period of the relevant tranche bond issue, unless the
the Ministry no later than the start date of the subscription period, the competent
tranche bond issue otherwise. At the moment of payment of the price of subscription bonds
means of crediting of funds on a payment account distributor
or the Ministry and this moment with a request to subscribe to
Underwriters binding and the Subscriber can no longer cancel it. In the case of
submission/subscription requests directly to the Ministry it is possible to pay the price
subscription of bonds only by bank transfer to the account of payment
of the Ministry. From the moment of payment of the price of the subscription of the bonds to the date of issue
the relevant tranche bond issue, this amount does not include interest. After
published by the termination date of the subscription period of the relevant tranche of emissions
bonds bonds cannot be the relevant tranche bond issue to underwrite,
unless the Ministry otherwise. Subscription for bonds under this section
issue conditions includes reinvestment of the last income and
the nominal value of all or part of the Government bonds of other emissions
bonds, whose conditions this authorisation of the owner of the bonds
against the issuer acknowledge the bonds of this bond issue, if
the owner of this reinvestment of government bonds the issuer asks; 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
the Distributor or the Ministry under 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 30 0000 0000 (in words: thirty
million) is then consist mainly of data and information relating to the
the origin of the funds, of which the price is paid for by subscription of bonds,
including the identification of resources and the range of income or other assets
Underwriters, and indirectly, through which the settlement price of the subscription
bonds. In cases of subscription of bonds in the total number of pieces in the amount of
According to the previous sentence is an underwriter always obliged to provide the required information and
information regarding the origin of the financial resources intended to cover prices
subscription of bonds including the identification of the intended purpose of subscription bonds,
through submission and signature of the competent Honorary
the Declaration; If a tenderer submits more than one application on the bond underwriter, number of pieces
subscribed bonds are added together. Such Subscriber shall submit
the Ministry of the affidavit, together with a request for subscription, which will
exceeding the total number of bonds, i.e.. 30 0000 0000
(in words: thirty million), while the Subscriber is obliged to specify in this
the sworn statement data and information that are related to the also
previous requests to subscribe. Good faith underwriters regarding the fulfilment of
all the conditions and the necessary requirements for subscription of bonds according to the
These issue conditions on the part of the Subscriber must take from the moment
request a subscription to the subscribed bonds by the issuer.
Good faith on the part of the Subscriber must take and then, what happens
the owner of the subscribed bonds. In the case of a transfer or gradient bonds
must include good faith on the part of the transferee of the bonds, so the new
the owner of the bonds, in addition to good faith regarding the completeness and veracity
data and information on the nature and identification of your person also fact
that the transfer or gradient of the bonds is in accordance with the nature and requirements of the
set out in these conditions. The Issuer reserves the right to
to verify the existence and duration of good faith on the part of investors, respectively.
Subsequently, on the part of the owner of the bonds, and that from the moment of submission of the application
about bond until the time of repayment of the bonds by the issuer. In the case of
doubt regarding good faith on the part of the Subscriber, and then on the
side of the owner of the bonds, the issuer is entitled to demand proof
good faith on the part of the Subscriber in the form of additional
data, information and documents relating in particular to the nature and
the ID of the Subscriber, the intended purpose of subscription bonds and
the source of funds used to pay the price or subscription
bonds. The underwriter, or the owner of the bonds is
must the required data, information and documents to submit directly
the Ministry.
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 of 10 0000 0000 (in words: ten million), while
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 10 0000 0000
(in words: ten million) has already been shortened not any subscribers. If
in this way, the reduction is not achieved a maximum estimated total
the nominal value of the bond issue, then in the second round
reduction of the relative reduction of subscribed bonds all underwriters without
regardless of the total number of units subscribed bonds one originator.
The issuer further reserves the right to deny any individual request for
bond in the event that the issuer side doubts remain about the good
faith on the part of investors. In particular, doubts as to 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. For the avoidance of doubt shall be that on the part of the issuer
doubts remain about the good faith on the part of investors, 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 the doubts of good faith on the part of investors, particularly in the
the context of the purpose of the subscription of bonds or the origin of the source of
resources, on the part of the issuer's bonds will persist, or
arise only in respect of part of the subscribed bonds, the issuer is
shall be entitled to refuse a request for subscription and only in relation to such part
subscribed bonds. If, in consequence of this partial refusal
request for subscription amounted to subscribe one Subscriber less than 1000 (in words:
one thousand) bonds, thereby violating the conditions on
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 Distributor or
the Ministry, without undue delay, only by bank transfer to the
payment account from which the funds were remitted to the
the account of the Distributor or the Ministry, 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 terminated as of the date
29.11. 2013 or to a date to be determined by the issuer, according to the date
whichever occurs first.
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 via the Distributor and
under the conditions specified and published by the issuer through
of the Ministry. The bonds are converted without a settlement.
Transferability of the bonds in accordance with § 26 para. 6 of the Act on
bonds limits, so that the bonds can be converted only to the person
listed in section 4 of these emission conditions. The person to whom the
the bonds convert, is required to request a transfer of bonds
the Distributor or the Ministry of 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.
Transferability bonds shall the date 12. 11.2020.
16. 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 sum of the percentage changes in basic consumer price index
(cost of living) for the month of April of the year against bazickému
index of consumer prices (cost of living) for the month of October of the year
prior, to the extent of six decimal places, and the margin of
0.25% p. s.; on this basis, the interest rate is rounded up to five
decimal places. The interest rate for six months (p. s., per semestre)
for the period ending date 12. 12. shall be determined as the sum of
percentage changes in the consumer price index (basic living
costs) for October that year against bazickému index
consumer prices (cost of living) for the month of April of the same year, and
to the extent of six decimal places, and the margin in the amount of 0.25% p. s.;
on this basis, the interest rate shall be rounded to five decimal places.
The minimum interest rate in any výnosovém period is determined in the amount of
0.25% p. a., (per semestre). The interest rate for the relevant revenue
period and its calculation shall be published on the website
the Ministry always by the date 20. 5. and to date 20. 11. the competent
of the year. Income determined on the basis of this interest rate are reinvested
According to point 17, the issue conditions, always on the date 12. 6. and to date
12.12, starting from the date 12. 6.2014 except the last to yield that is
the owner of the bonds shall be paid together with the repayment of the nominal value
bonds at maturity of the bonds according to item 25 of these emissions
conditions, except where the owner of the bond request for reinvestment of the last
income and the nominal values of all or the relevant part of it owned by the
bonds of this bond issue (hereinafter referred to as "request for reinvestment
bonds ") in accordance with point 26 of these emission conditions. If there is a repayment
bonds before the fixed date of maturity in accordance with point 23 of the emission
conditions, the amount of the relevant revenue for the period, of which the end is
the same as the date of early repayment, the nereinvestuje according to the
point 17, the issue conditions, but shall be paid to the owner
bonds according to points 23 and 25 of these emission conditions; appropriately, the part
a sentence with a semicolon in front of it in the case of redemption of the bonds prior to the date
maturity according to point 22 of these emission conditions that
the relative return is paid to the owner of the bonds in question in accordance with point 22
These emission 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 point 26 of the emission 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
residents of the United States and to residents of the Contracting States must be
to prove taxpayers resident/residence for tax purposes in the Czech Republic
for example, in a Contracting State or a valid proof of identity, the Honorable
Declaration or registration in the appropriate public register. A Contracting State
means the Member State of the European Union and the European economic
area and State, which is closed to the valid and effective contract or
the 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 a proof of the above
those documents after the date of reinvestment of the proceeds, the reimbursement amount
the tax will be paid only by bank transfer, payment account
that is kept at a bank or a branch of a foreign bank in domestic currency
(CZK) and that is registered in the securities account of the owner of the bonds in the
the register of the Ministry, according to item 25 of these emission conditions.
18. The yield shall be determined as the six-month period, from 12. 12.
for the year to 12. 6. the following year, and from 12. 6. to 12. 12.
of the relevant year. The first period for the reinvestment of the proceeds with the
down from 12. 12.2013 to 12. 6.2014. Second period for
reinvestment of the proceeds shall be from 12. 6.2014 to 12. 12.2014.
19. Basic index of consumer prices (cost of living) to the
to the competent basic (reference) period is uveřejňován per month 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
period in accordance with clause 16 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 in accordance with point 16
These emission conditions last known basic index of consumer
prices (cost of living) published 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.
20. Return specified according to points 16 and 17 of these emission conditions always receives
the person who is the owner of bonds to data 13. 5. and 12. 11. starting with the
the year 2014. The yield in the form of reinvestment of proceeds for the first period from
the date of issue until 12. 6.2014 will receive the person who is the owner of bonds to
date 13. 5.2014.
21. the law on the yield from the bond is eliminated.
22. 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 about the good faith on the part of the owner of the bonds
in particular, in the case where the owner of the issuer does not submit
the required data, information or documents in accordance with point 10 of these
issue conditions. In case the doubts concerning the good faith of the issuer
side of the owner of the bonds, in particular in the context of the purpose of the subscription
bonds or the origin of the source of funds will continue
After the application of the procedure in accordance with point 10 of these emission conditions, and only in the
part of the bonds, the issuer of the owner, is entitled to
pay only a portion of the bonds of the owner prior to the date of their
maturity. If, in consequence of this procedure in the ownership of the
the owner of the bonds remained less than 1000 (in words: one thousand) units
the bonds, the issuer is entitled to pay off all the bonds owned by the
the owner concerned before the date of maturity. The notification to the issuer of the
repayment of the bonds before the maturity date (hereinafter referred to as the "notification
the issuer of an early repayment) the issuer is entitled to send to the address
referred to in the application for the subscription or the registered owner of the securities account
in the records of the Ministry and bonds do so through
the Distributor, and the issuer or the distributor shall be entitled to deliver
the owner of the bond issuer concerned about early repayment
through your mail service provider. The decision of the issuer of the
the repayment of the nominal value of all or part of the bonds of the
the owner of the bonds before their maturity date is effective upon
receipt of notice 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 to send the notification to the issuer from the time of 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
block the number of pieces of bonds bonds covered by 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 23
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), and that is
registered owner of the securities account in the register of bonds
of the Ministry. Repayment of the bonds before the maturity date will be considered void
at the same time with the right owner to the yield of the bond. The total amount of
corresponding to the total nominal value of the bonds to be paid before the date of
their maturity and the corresponding yield or relative yield of
pieces of the bonds paid before the date of maturity to be paid
the owner of the bonds for the period from the start date of the relevant revenue
the period until the date of early repayment after taxes taxes collected
the crash according to the special tax rate shall be rounded down to pennies.
23. The owner of the bonds may request the issuer through the Distributor
and under the conditions specified and published by the issuer through
the Ministry about the repayment of the nominal value of all or part of it
owned by the bonds of this bond issue before the fixed date
due date according to the terms set out below and according to the following schedule
(hereinafter referred to as "request for early repayment"):
+---------------------------------------------------------+----------------------------+
| The period for the submission of applications for early repayment | |
+----------------------------+----------------------------+ |
| The first possible date | The last possible date | Date |
| submission of the application owner | submission of the application owner | early repayment |
| bonds | bonds | |
+----------------------------+----------------------------+----------------------------+
| 1.10. 2014 | 31.10. 2014 | 12.12. 2014 |
| 1.4. 2015 | 30.4. 2015 | 12.6. 2015 |
| 1.10. 2015 | 30.10. 2015 | 12.12. 2015 |
| 1.4. 2016 | 29.4. 2016 | 12.6. 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 |
| 1.4. 2020 | 30.4. 2020 | 12.6. 2020 |
+----------------------------+----------------------------+----------------------------+
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 be administered through
the distributor only in the periods for the submission of applications for early repayment
designated by the issuer as of this point of emission conditions. From the time of
the submission of the request for the early repayment of the bonds cannot be in the number of pieces in the
which the application is lodged, early repayment, transfer.
A bond owner can have one date of early repayment
only one handed request for early repayment, and through it
ask for repayment of the bonds owned before the fixed date
due to the number of pieces of at least 1000 (in words: one thousand). In the case of
the number of units owned by the bonds on securities account owner
bonds is less than 1000 (in words: one thousand), the owner of
bonds apply for repayment of the bonds owned before the fixed
the due date in the number of pieces smaller than 1000 (in words: one thousand),
If you ask for repayment of all the pieces owned bonds
registered on the securities account in the register of the Ministry before
laid down by the due date. One owner of the bonds may one
the date of early repayment request early repayment of 100% (in words: one hundred
percent) owned bonds to a number of pieces of 500 000 (in words: five
hundred thousand) including and not more than 50% (fifty percent)
owned by the bonds of a number of pieces 500 000 (five hundred thousand).
Bonds repayment before the due date shall cease at the same time
with the right of the owner of the bonds to yield. The amount corresponding to the nominal
the value of the bonds and the owner proceeds after taxes taxes
taxes collected by deduction from the special tax rate will be the owner of the bonds
When you pay off before the scheduled due 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) and which 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. Change payment
the owner of the bonds, the Ministry shall notify the account through the
the Distributor, unless the Ministry otherwise. The total amount of the corresponding
the total nominal value of the bonds to be paid before a given date
maturity and its proceeds from the number of bonds in which the
appropriate request for early repayment, payable to the owner
bonds for the period from the start date of the relevant income of the period in
the closing date of the respective revenue period after taxes taxes
taxes collected by deduction from the special tax rate shall be rounded down to pennies.
24. The bonds will be paid off at their nominal value at the date of 12. 12.2020
unless the repayment of bonds before maturity date, according to the
section 22 or 23 of the emission conditions, or in the absence of the owner
a reinvestment request bonds bonds according to item 26 of these emissions
terms and conditions. To this date, ending the remuneration on bonds. Issuer pursuant to § 17 of the Act
bonds held that the right to repayment of the bonds to the person
It is entitled to exercise the rights associated with the bonds on the date 12. 11.2020.
The nominal value of all the bonds will be repaid, along with owner
the payment of the last return to the person who is the owner of bonds to
date 12. 11.2020. If the date falls in the repayment of the nominal value of the
bonds and payment of the revenue on the last day which is not 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.
25. 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) and that is registered on the asset
the bond owner account in the records of the Ministry of, except where the owner of the
a reinvestment request bonds bonds according to item 26 of these emissions
terms and conditions. Change payment account shall notify the owner of the bonds, the Ministry of
through a Distributor, unless the Ministry otherwise. Total
amount of latest yield from all bonds of the owner of the
the bonds to be paid to the owner of the bonds after taxes taxes collected
the crash according to the special tax rate shall be rounded down to pennies. The owner of the
bonds, who is a tax resident of the Contracting State with which it is
concluded the Treaty on avoidance of double taxation, it is for the application of the benefits of
arising from the agreement shall be obliged to prove the tax residence
accompanied by a certificate of tax residence issued by the competent international
the tax administrator to the appropriate person involved in security for the repayment of the
bonds and the payment of the proceeds according to this point of emission conditions.
Notification of the designation of this person shall be published on the website
of the Ministry. If the owner does not confirm the actual ownership of the bonds
interest income from bonds owned and residence/residence for tax
purposes, i.e., in a Contracting State. in the Member State of the European Union and
The European economic area or in the State or jurisdiction
which the Czech Republic has concluded a valid and effective contract
containing provisions on the exchange of tax information, and the actual
the owner will not have the necessary information available to the Department,
will be applied on the appropriate rate of tax withholding from a special rate
taxes under the Act on income tax payers who are not designated
residents of the Contracting States.
26. 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 through a reinvestment of the Distributor and
under the conditions specified and published by the issuer through
the Ministry of revenue and the reinvestment of the last of the nominal value of all
or part owned bonds of this bond issue. In such a
the case will not be the owner of the bonds paid their last revenue and
the total outstanding nominal value or the relevant part of the
payment by bank transfer on the account in accordance with section 25 of these emissions
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 in good time
advance on the Ministry's website. The owner of the bonds
can by means of one 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 issuer will ask the bond administration
application for reinvestment of the bonds through a Distributor and for
the conditions specified and published by the issuer through
of the Ministry. The total amount of the proceeds of the bonds the bonds after the owner
taxation tax charge deduction according to the special tax rate for the last
period for the purpose of reinvestment of the last income and rated
the value of the bonds shall be rounded down to the nearest Crown upwards. The last
the date for the submission of applications for the re-investment of bonds is 11. 11.2020. In
the case of the bond owners, who have applied for the last time reinvestment
the yield, the yield will be above the last reinvestována after tax, taxes
taxes collected by deduction from the special tax rate on the date of reinvestment of the bonds.
For the purposes of taxation in the yield rate of the withholding tax according to the Tax Act
revenue intended to residents of the United States and 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 a proof of the above
those documents after the date of the reinvestment amount refund bonds
the tax will be paid only by bank transfer, payment account
that is kept at a bank or a branch of a foreign bank in domestic currency
(CZK) and that is registered in the securities account of the owner of the bonds in the
the register of the Ministry, according to item 25 of these emission conditions.
27. 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.
28. 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.
29. 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.
30. 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.
31. 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.
32. 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.
33. 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.
34. 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. Fischer, CSc., r.
