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Erste Group bonitätsabhängige Schuldverschreibung auf LafargeHolcim LTD 2019-2026


ISIN:
AT0000A268F4
WKN:
EB0FMT

Date: 2024/03/28 17:17:23
Bid Ask
95.062 -
Difference 0.00% (0.00)

General attributes

Type of bondErste Group credit linked notes
Bond stylesenior
Issuer typefinancial institution
Country of issueAT
Reference entities-
Current coupon2.330%
Coupon stylefix
Coupon payment date2025/01/20
Coupon payment periodannually
Yield to maturity p.a. (before tax)4.04%
Value date2019/01/28
Maturity2026/01/20
Repayment value100.00
CurrencyEUR
Minimum unit10000

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Performance since inception. Performances under 12 month have only little informative value because of the short maturity. Information about previous performance does not guarantee future performance.
Source: Erste Group Bank AG
Advantages Risks you should be aware of
  • attractive coupon in the absence of a credit event
  • A credit-linked bond offers a higher coupon than bonds issued by the refenrence debtor would pay.
  • redemption at 100% of face value if no credit event occurs
  • Investors are subject to the risk of the insolvency and thus default of the issuer and may incur capital losses of up to 100%.
  • Investors also bear the default risk of the reference debtor. If a credit event occurs, investors will not receive any further coupon payments, and the redemption equals a cash settlement amount, that may amount to zero. Therefore investors bear not only the risk of losing out on coupon payments, but also the probability of receiving back only a fraction or indeed nothing of their initial investment. The occurence or the possibility of the occurence of a credit event may also trigger a modification of the original coupon dates or the due date.
  • The bond price is subject to fluctuations during the life of the bond, which may result in losses.

Description

This bond refers to LafargeHolcim LTD (reference debtor). It has a fixed maturity and falls due on 20/01/2024. The magnitude of coupon and redemption payments basically depend on the creditworthiness of the reference debtor. In one of the following events affecting the solvency of the reference debtor (a "credit event"), the coupon payment is cancelled in full, and the redemption is omitted either partially or even completely. Furthermore, the end of maturity of the bond will be adjusted.

The following events represent a credit event:
- bankruptcy
- failure to pay
- restructuring

In the absence of a credit event, the investor receives a coupon payment and the bond is redeemed at the end of maturity at 100% of face value.

If the reference debtor is subject to a credit event, the maturity date is modified. No further coupon payments are made. The investor receives a cash settlement amount that depends on the market value of the reference debtor’s debts after the occurrence of the credit event. The market value tends to fall significantly short of 100% of face value and may also amount to zero. The cash settlement amount is paid 30 days after the determination of the market value. This means, that the redemption can be executed before or after the due date of the credit-linked bond.

Payment notes

This credit-linked bond pays a coupon of 2.33 % p.a., provided no credit event has occured.

Settlement

This credit-linked bond will be redeemed on 20/01/2026 at 100 % of face value, provided no credit event has occured and subject to the default risk of Erste Group Bank AG.

Secondary market

The bond will be issued on a continuous basis and publicly offered in Germany and Austria. From the issue date onwards the bond can basically be traded on a stock exchange or over-the-counter. Under normal trading conditions the issuer will continuously quote indicative prices. Listing at the unofficial market of Stuttgarter Wertpapierbörse (Baden-Württembergische Wertpapierbörse)and Frankfurter Börse is scheduled. The decision about the admission to the respective market and the actual listing will be taken by the board of the respective stock exchanges. From admission onwards the bond can be traded on each stock exchange during trading hours.

Underlying


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