128/13 Sb.
The COMMUNICATION FROM the
The Ministry of finance
of 13 June. may 2013
which determine the conditions for the State's voucher savings bond
The Czech Republic, 2013-2018, FIX%
The Ministry of Finance (hereinafter referred to as "the Ministry") issued State bonds
to the extent provided for by 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
conditions define the rights and obligations of the issuer and the owners
bonds, as well as information about the bond issue and requirements Kuponového
saving the State of the bond of the Czech Republic, 2013-2018, FIX% (
also, the "bond", or the "bonds").
1. the basic description of the bonds:
Issuer: Czech Republic-Ministry of finance
Name: the State's voucher savings bond of the Czech Republic, 2013-2018, FIX
%
Abbreviated name: SSD-to the CZECH REPUBLIC, FIX%, 18
Serial number issue: 81.
Nominal value: 1 € (in words: one koruna Czech)
Emission rate: 100% (in words: one hundred percent) of the nominal value
Form of a bond: a valuable paper bearer
Form of a bond: zaknihovaný paper
Type of bond: bond
Currency in which the bonds are denominated: Czech koruna (CZK)
Start date of the period for the subscription to the emissions: 13. 5.13
End date for the subscription period emissions: 12. 6.2017
Issue date: 12. 6.2013
Maturity date: 12. 6.2018
The yield of the bond: the specified fixed interest rate laid down for the
the first period
from the 12. 6.2013 to 12. 6.2014
at a rate of 0.50% p. a.
the second period
from the 12. 6.2014 to 12. 6.2015
in the amount of 1.00% p. a.
the third period
from the 12. 6.2015 to 12. 6.2016
in the amount of 3.00% p. a.
the fourth period
from the 12. 6.2016 in 12. 6.2017
of 4.00% p. a.
Fifth period
from the 12. 6.2017 to 12. 6.2018
in the amount of 6.00% p. a.
Taxation of income of the bond: according to the legislation of the Czech Republic
ISIN: CZ0001004014
2. Bonds are within the meaning of the provisions of § 25 paragraph. 2 of the law on
bonds issued on the basis of special laws. Issue of bonds
the Ministry provides.
3. the following bearer Bonds issued in dematerialised form and
are recorded in a separate register, pursuant to the provisions of § 35
paragraph. 1 (a). (d)) of law No 218/2000 Coll., on the budgetary rules and the
changes to some related acts (budgetary rules), as amended by
amended, the Ministry (hereinafter referred to as "the register of the Ministry").
4. Bonds may subscribe only:
and) means a natural person,
(b)) civic association or body, hunting
(c) a trade union or organization) employers
(d)) of the Foundation or Endowment Fund,
e) public benefit corporation,
f) professional Chamber or professional organisations,
(g)), the Board of the legal person, which is not the founder of the Ministry,
County, municipality or municipalities within the meaning of section 124, paragraph. 2 Act No. 561/2004
Coll. on pre-school, primary, secondary, higher vocational and other
Education (the Education Act), as amended,
(h)), Economic Chamber of the Czech Republic or the agrarian Chamber of the Czech
the Republic established by Act No 301/1992 Coll., on the Czech Economic Chamber
Republic and agrarian Chamber of the Czech Republic, as amended
regulations,
I) public high school established in accordance with Act No. 111/1998 Coll., on
universities and amending and supplementing other laws (the law on high
schools), in the wording of later regulations,
j) public research institution established in accordance with Act No. 341/2005 Coll.
public research institutions, as amended by later regulations,
for the Czech television, established by law) no 483/1991 Coll., on the Czech television, in
as amended, Czech Radio, established by Act No. 484/1991
Coll., on the Czech Radio, as amended, or Czech
Press Office, established by law No. 517/1992 Coll., on the Czech press
the Office, in the wording of later regulations,
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, in the
as amended, or departmental, departmental, corporate and other
health insurance company established pursuant to Act No. 280/1992 Coll., on the
departmental, industry, corporate, and other health insurance companies,
in the wording of later regulations,
m) territorial self-governing units and higher territorial self-governing units, Czech
Republic or the capital city of Prague,
n) voluntary townships established by Act No. 128/2000 Coll., on the
municipalities (municipal establishment), as amended,
the Union of towns and municipalities), the Czech Republic, Association of local authorities of the Czech
Republic or the Association of regions of the Czech Republic,
p) community of owners of units within the meaning of Act No. 72/1994 Coll.
adjusting some of the co-ownership to the buildings and some
ownership of the flats and non-residential spaces and added some
laws (the law on the ownership of flats), as amended, or
q) foreign legal person with similar activities as one of the persons
referred to in points (b) to (f))),
(hereinafter also referred to as "underwriter" or the "Underwriters").
5. The Ministry does not intend to apply for admission of the bonds to trading on the
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
USD (in words: five billion Czech Crowns). Bonds may be in
accordance with the provisions of section 7 of the Act on the bonds issued in smaller or in
the larger the volume of emissions, it was estimated the total nominal value
the bond issue. The possible range of magnification of the volume of the bond issue is 50
0000 0000 0000 € (in words: fifty billion Czech Crowns).
7. the issue of bonds may be issued within the time limits for the emission of subscription
increments (tranches).
8. will be the issuer of the Bonds offered for subscription in the Czech Republic
offer to the public. Activities associated with the subscription of bonds secures the
the Ministry and persons for the performance of such activities (a bit early
just the "distributors"). The date of the determination of these distributors to emission
conditions are Česká spořitelna, a.s., Československá obchodní banka, a.
s., and Komerční banka, a.s. Bonds will be called upon to subscribe also to the selected
Èeská Pošta, s.p. current list of distributors and individual
distribution of posts shall be published on the website of the Ministry.
9. The underwriters mentioned in point 4, the following emission conditions served
the application of the relevant tranche of bonds subscriptions through the Distributor.
One underwriter may subscribe through a subscription request
bonds in a number of pieces of at least 1000 (in words: one thousand). The underwriters
are required when applying for the subscription of the bonds to the Distributor
a trusted way to certify that they belong among the persons referred to in point 4
These emission conditions. The price of the subscription of the bonds means the total
the nominal value of bonds of one Subscriber upisovaných multiplied by
their IPO. An underwriter is obliged to pay the price of subscription
bonds within five working days from the date of termination of the subscription period
the relevant tranche. The moment of payment of the price of the subscription of the bonds to the Subscriber
on the account of the Distributor's request for subscription of bonds becomes binding and
underwriter cannot cancel. From the date of payment of the price of the subscription of bonds to
the date of issue of the relevant tranche of bonds, this amount does not include interest. After
the date of the end of the subscription period of the relevant tranche bond issue has already
Unable to subscribe to the relevant tranche of bonds. In the case of the achievement or
exceeded the projected total nominal value of the bond issue
in accordance with section 6 of these terms and conditions of the emission, the Ministry may decide to
reduction of the number of pieces of upisovaných bonds in accordance with the requests for subscription of bonds
submitted to the end date of the subscription period of the relevant tranche of the issue
bonds. Neuspokojeným or partly uspokojeným investors with returns
they paid the price of the subscription of the bonds, which were subscribed, without undue
delay the non-cash transfer on payment account from which they were
the relevant funds remitted to the account of the Distributor, or on payment
account referred to in the application for subscription of bonds in the case of payment of subscription prices
the bond in cash.
10. the subscription period for the first tranche of the bond issue is terminated as of the date
31.5. 2013, or a date to be determined by the issuer, depending on which date
whichever is the earlier.
11. On the issue of possible further tranche bond issue the following
After the first tranche referred to in point 10 of these emission conditions may decide
the issuer and specify the start date and end date of the subscription period
the next tranche concerned. Notice of any other tranches with
be published on the website of the Ministry.
12. The request for conversion of the bonds is served by the Distributor.
The bonds are converted without a cash settlement. The transferability of
bonds in accordance with § 26 paragraph. 6 of the Act on the bonds.
Convert the bonds is only permitted between the persons referred to in point 4
These emission conditions. The person to which the bonds are transferred, is
required when filing a request for conversion of the bonds to the Distributor
credible way, that belongs to the persons referred to in point 4
These emission conditions. Transferability bonds after the date 12. 5.
2018.
13. The yield of a bond (hereinafter referred to as the "yield" or "income") is designed
a fixed interest rate in the amount for each period is increasing
and shall be determined in accordance with point 1 of these emission conditions. Yields are
paid once a year, and it's always the date 12. 6. starting in 2014.
The total amount of the proceeds from all bonds of the owner of this bond issue
paid to the owner of the bonds, after taxation taxes levied by deduction
According to the special tax rate shall be rounded down to pennies. If the date of
payment of the proceeds on a day which is not a working day, payment will be
the proceeds made on the first following working day without the right to return for
This transferring.
14. The yield it receives always the person who is the owner of bonds to date, 12.
5. starting in 2014. The yield for the first period from the issue date to the
12.6. 2014 will receive the person who is the owner of bonds to date, 12. 5.
2014.
15. The calculation of the yield and the relative yield takes place on the basis of the actual number of
calendar days in a year and the actual number of days in the relevant výnosovém
period (act/act). Yield period means the competent
period referred to in point 1 of these emission conditions. Relative yield
in the price of the bond counts from the date of issue and shall be calculated as revenue
multiplied by the proportion of the actual number of days from the start date of the relevant
revenue in the period, data calculation of proportional yield and the actual number of
days of the relevant period of revenue growth. The total amount of the proceeds of the proportional
all of the bonds, the owner of this bond issue is for the purpose of calculating the
proportional yield shall be rounded down to pennies.
16. The Department of Justice on the yield from the bond.
17. the issuer is not entitled to repaying bonds issued before the date of
their maturity, if requests for early repayment of the bond owner
According to section 18 of these emission conditions. The Ministry is authorised to
write the bonds when they are released first on the securities account of the issuer in
the register of the Ministry within the meaning of the provisions of section 15, paragraph. 4 of the law on
bonds and the acquisition of bonds before their maturity date. Custom
bonds acquired by the issuer before the date of maturity do not disappear,
unless the issuer decides otherwise.
18. The owner of the bonds shall be entitled to request the Ministry through the
the distributor of the repayment of the nominal value of all or part of it
owned by the bonds of this issue of bonds before their maturity date
(hereinafter referred to as "request for early repayment") according to the following
timetable:
+-----------------------------------+-----------------------------------+-----------------------------------+
| The date of the first of a possible submission | The last possible date for submission | Date |
| request for early repayment | request for early repayment early repayment | |
+-----------------------------------+-----------------------------------+-----------------------------------+
| 1.4. 2014 | 30.4. 2014 | 12.6. 2014 |
+-----------------------------------+-----------------------------------+-----------------------------------+
| 1.7. 2014 | 31.7. 2014 | 12.9. 2014 |
+-----------------------------------+-----------------------------------+-----------------------------------+
| 1.10. 2014 | 31.10. 2014 | 12.12. 2014 |
+-----------------------------------+-----------------------------------+-----------------------------------+
| 2.1. 2015 | 30.1. 2015 | 12.3. 2015 |
+-----------------------------------+-----------------------------------+-----------------------------------+
| 1.4. 2015 | 30.4. 2015 | 12.6. 2015 |
+-----------------------------------+-----------------------------------+-----------------------------------+
| 1.7. 2015 | 31.7. 2015 | 14.9. 2015 |
+-----------------------------------+-----------------------------------+-----------------------------------+
| 1.10. 2015 | 30.10. 2015 | 14.12. 2015 |
+-----------------------------------+-----------------------------------+-----------------------------------+
| 4. the 1. 2016 | 29.1. 2016 | 14.3. 2016 |
+-----------------------------------+-----------------------------------+-----------------------------------+
| 1.4. 2016 | 29.4. 2016 | 13.6. 2016 |
+-----------------------------------+-----------------------------------+-----------------------------------+
| 1.7. 2016 | 29.7. 2016 | 12.9. 2016 |
+-----------------------------------+-----------------------------------+-----------------------------------+
| 3.10. 2016 | 31.10. 2016 | 12.12. 2016 |
+-----------------------------------+-----------------------------------+-----------------------------------+
| 2.1. 2017 | 31.1. 2017 | 13.3. 2017 |
+-----------------------------------+-----------------------------------+-----------------------------------+
| 3.4. 2017 | 28.4. 2017 | 12.6. 2017 |
+-----------------------------------+-----------------------------------+-----------------------------------+
| 3.7. 2017 | 31.7. 2017 | 12.9. 2017 |
+-----------------------------------+-----------------------------------+-----------------------------------+
| 2.10. 2017 | 31.10. 2017 | 12.12. 2017 |
+-----------------------------------+-----------------------------------+-----------------------------------+
The owner of the bonds shall be entitled to the pro-rata yield for the period from
the start date of the relevant data into the early period of revenue growth
the repayment. Proportional yield for the period from the start date of the relevant
revenue in the period, the date of early repayment will be after taxes taxes
charge according to the special tax rate deduction shall be paid and the nominal
the value of 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 submission of the request for early repayment. The request for
the early repayment of the bond owner is served by
Distributor. From the moment of submission of the request for early repayment cannot be
bonds in the number of pieces in which a request was made for early
repayment, to convert. A bond owner can one date
early repayment through a single request for early repayment
request early repayment of bonds owned by number of pieces
at least 1 000 (in words: one thousand). In the event that the number of pieces
owned by the bonds to the securities account of the owner of the bond is less
than 1000 (in words: one thousand), the owner of the bonds may request
the early repayment of the bonds owned the number of pieces smaller than 1
000 (in words: one thousand), if the request for the early repayment of all the pieces
owned by the bonds that registered on the securities account in the register
of the Ministry. One owner bonds to one early date may
the repayment request early repayment of 100% (in words: one hundred percent) by
owned by the bonds to the number of pieces of 500 000 (five hundred thousand)
including and up to 50% (fifty percent) owned
bonds over the number of pieces of 500 000 (five hundred thousand). Bonds
early repayment shall expire at the same time with the right owner to return.
The amounts corresponding to the nominal value of the bonds and the owner to the competent
relative yield after taxes taxes levied by deduction under special rates
taxes will be the owner of the bonds for early repayment of the paid
non-cash payment by transfer to the account, which is maintained in the territory of the country in
the domestic currency and that is registered in the securities account of the owner of the bonds
in the records of the Ministry. If the date of early repayment on the day
that is not a working day, payment will be made the first
the following working day without entitlement to payment of the proceeds for this
deferring payments. Change payment account shall notify the owner of the
the bonds through a Distributor. The total amount of maximum yield
of the number of bonds, in which a request was made for early
repayment, payable to the owner of the bonds for the period from the start date
the relevant revenue period until the date of early repayment after
taxation the tax levied by deduction under special tax rates shall be rounded
for pennies.
19. The bonds will be redeemed at their nominal value at the date of 12. 6.2018,
in the absence of the owner of the bond request for early repayment in accordance with point 18
These emission conditions or if the owner submits a request for the reinvestment of
the nominal values of all or the relevant part of it owned by the bonds
This bond issue (hereinafter referred to as "the application for the reinvestment of bond") in accordance with
point 21 of these emission conditions. To this date, ending interest bonds.
The issuer within the meaning of § 17 of the Act on the bonds held that the right to
repayment of the bonds is a person who is entitled to exercise the rights associated
with bonds on the date 12. 5.2018. The nominal value of all bonds
the owner will be paid together with the payment of the last return to the person
who is the owner of bonds to date, 12. 5.2018. If the date of
the repayment of the nominal value of the bonds and the final yield on the
the day is not a working day, payment will be made the first
the following working day without entitlement to payment of the proceeds for this
deferring payments.
20. the issuer undertakes to ensure the payment of the proceeds and repayment
the nominal value of the bonds to their owners under these emissions
terms and conditions. On the security of repayment of the bond and the payment of the income
involved in the central securities depository, a.s., the Czech National Bank
and the Ministry. Income after taxes taxes levied by deduction in accordance with the Special
the tax rates are paid by non-cash transfer to the payment account,
that is conducted in the territory of the country in the domestic currency and which is recorded on the
the owner of the securities account in the register of the Ministry of bonds. The same
in a way it is repaid the nominal value of the bonds, also in the absence of
the owner of the bonds, the request for the reinvestment of bond pursuant to paragraph 21 of these
emission conditions. Change payment account shall notify the owner of the
bonds the Ministry through the Distributor.
21. The owner of the bonds shall be entitled to request the reinvestment
the bond request, the Ministry through the distributor of
the reinvestment of the nominal value of all or part of it owned by the
bonds of this bond issue. In this case, the owner of the
the total nominal value of the bonds or the relevant part of the
paid non-cash transfer on account of payment in accordance with section 20 of these
the emission conditions, but will be in the amount of the owner
reinvestována in government bonds designated by the Ministry.
The reinvestment of bond request cannot reinvest the nominal
the value of the bonds of the circumferences of the 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 bond
to dispose of. Notification of the date from which it is possible to request a
the reinvestment of bond, and Government bonds, to which it is possible
the nominal value of the bonds to reinvest, in sufficient
advance on the website of the Ministry. The owner of the bonds
can by means of one request for the reinvestment of bond request
the reinvestment of the nominal value of bonds owned by the State
the number of bonds specified by the Ministry of not less than 1 000 (in words:
one thousand). About the reinvestment of the nominal value of all or part of it
ask the owner of the bonds owned by the bond Department of the filing
applications for the reinvestment of bond through the Distributor. The last
the date for the submission of applications for the reinvestment of bond is 11. 5.2018.
22. 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 their maturity date and
the repayment of the nominal value of the bonds, for all State bonds
owner, that are recorded in the register of the Ministry. All payments
referred to in the first sentence be remitted to the payment account logged in
the register of the Ministry of two working days before the date of implementation of the relevant
payments.
23. The valid assessment of financial eligibility (rating) of long-term
on CZK-denominated liabilities at the date of the determination of emission conditions made
by Standard Poor's & is at level AA, by Moody's on
level A1 and by Fitch Ratings to AA-level.
24. The bonds are direct, unconditional obligations of the Czech and nepodřízenými
the Republic, which are on the same level with all the other existing
and future direct, unconditional obligations of the Czech and nepodřízenými
of the Republic.
25. All the rights associated with the bonds in accordance with the provisions of section 42
the Act on the bonds expire on the expiry of 10 years from the day when she could
be applied for the first time.
26. These conditions are announced by the Ministry in the collection of laws.
Announcements to the public concerning these bonds shall be published on the
the website of the Ministry.
27. The operational order of the records of the Ministry shall be published as amended on
the website of the Ministry 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.
28. The Ministry reserves the right to do all the tasks related to the
keeping the Ministry, subscription bonds, early repayment
bonds, the nominal value of the bonds, to reinvestment conditions, entries in the register
the Ministry of information, changes, and other related activities defined
The operating regulations of the register of the Ministry.
29. These conditions can be translated into foreign languages. If there is a
the discrepancy between the different language versions of the emission conditions, will
the Czech version.
Minister:
Ing. K in r.
