|Date: 2023/05/29 18:12:39|
|Type of bond||Erste Group credit linked notes|
|Issuer type||financial institution|
|Country of issue||AT|
|Coupon style||step up|
|Coupon payment date||2023/07/20|
|Coupon payment period||annually|
|Yield to maturity p.a. (before tax)||-|
|Advantages||Risks you should be aware of|
|This bond refers to Volkswagen AG, E.ON SE and Metro AG (reference debtors). It has a fixed maturity and falls due on 20.07.2023 (due date). 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 debtors (a "credit event"), coupon payment and redemption are reduced.|
The following events represent a credit event:
- failure to pay
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 any reference debtor is subject to a credit event, the face value is reduced by the reduction rate of the reference debtor affected. As a result, the coupon payments after the credit event are reduced accordingly, and the bond is redeemed at the cash settlement amount on the due date.
If all reference debtors have been subject to a credit event during the observation period, no further coupon payments are made. There is no redemption as the cash settlement equals zero.
|This credit-linked bond pays a coupon of initially 2.50% p.a. that is gradually increased in steps to 3.00% p.a., provided no credit event has occured.|
|This credit-linked bond will be redeemed on 20. July 2023 at 100 % of face value, provided no credit event has occured and subject to the default risk of Erste Group Bank AG.|
|The bond will be issued on a continuous basis and publicly offered in Germany. 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 Wertpapierbörse 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.|
Any information, material and services regarding financial instruments and securities provided by Erste Group Bank AG or any of its affiliates (collectively “Erste Group“) on this and any linked website hereafter (jointly the “Websites”) shall be exclusively to investors who are not subject to any legal sale or purchase restrictions (the “Interested Party“).
The publication and distribution of information as well as offering and selling of products and services described on the Websites is prohibited by law in some jurisdictions. For this reason, persons in countries in which the publication as well as the offering and selling of products and services described on the Websites are not permitted by law, must not enter the Websites and/or acquire the products displayed on the Websites.
Neither Erste Group nor any third party shall offer access to the Websites or offer the products to especially, but not limited to citizen/residents of the United States and “U.S. person” (as defined in Regulation S under the US Securities Act 1933 as amended). For this reason, the distribution or redistribution of the information, materials and products into United States or into any other jurisdiction where it is not permitted under the applicable law, as well as to the citizens/residents of these countries shall be prohibited. The securities displayed on the Websites have not been and will not be registered under the US Securities Act of 1933 and trading in the securities has not been approved for purposes of the US Commodities Exchange Act of 1936. For this reason the securities may, inter alia, not be offered, sold or delivered within the United States or, for the account and benefit of U.S. persons.
The Interested Party is solely responsible to examine, whether he may enter the Websites under the law applicable to it. Erste Group shall not be responsible for the distribution of content of any of the Websites to individuals or entities which provide false information about their right to enter the Websites. For this reason Erste Group shall not be liable for any legal claims or damages which may result from the unauthorized entering or reading of the Websites.
By agreeing to this hereto, the Interested Party confirms that
(i) It has read, understood and accepted this Information and the Disclaimer;
(ii) It informed itself about any possible legal restriction and warrants that it is not restricted or prohibited to enter the Websites according to any law applicable; and
(iii) It does not make available the contents of the Websites to any person who is not qualified by law to enter the Websites.