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Erste Group Capped-Floored Floater 19 (2013-2020)

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General attributes

Type of bondErste Group senior bonds
Bond stylesenior
Issuer typefinancial institution
Country of issueAT
Current coupon1.500%
Coupon stylefloating
Coupon payment date-
Coupon payment periodquarterly
Yield to maturity p.a. (before tax)-
Value date2013/03/06
Repayment value100.00
Minimum unit1,000

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Source: FactSet
Advantages Risks you should be aware of
  • attractive interest payments
  • 100% capital guarantee for the nominal value (subject to the default risk of the issuer)
  • periodic interest payments
  • Your investment horizon is long-term.
  • The bond is redeemed at 100% only at the end of maturity by Erste Group Bank AG, with the capital guarantee only referring to the nominal value. The capital guarantee is based on the settlement scenario of the bearer bond.
  • Investors are subject to the risk of the issuer’s insolvency and thus default. This means that in case of the issuer’s default, the investor may incur a loss of up to 100%.
  • The price of the bond may fluctuate during its life.
  • Selling prior to the end of maturity may lead to losses.
  • The variable interest rate is capped at 4.00% p.a. even if the 3M Euribor exceeds that rate.
  • The minimum interest rate is 1.50% p.a.


The "Erste Group Capped-Floored Floater 19 (2013-2020)" is a bearer bond issued by Erste Group Bank AG (the "issuer") with a maturity of seven years. The product comes with a quarterly, variable coupon and is redeemed at 100% at the end of maturity (subject to the default risk associated with the issuer). Terms of the variable coupon:

quarterly payment at 3M Euribor p.a., a minimum of 1.50% p.a. and a maximum of 4.00% p.a. pro rata for the respective interest period. This means that every quarter a minimum of 1.50% p.a. is paid out as interest. However, quarterly interest payments are capped at 4.00% p.a. The 3M Euribor p.a. closing rate on the respective referential date applies to the immediately following interest period.

The bearer bond is geared to investors with a long-term investment horizon who
  • expect moderately rising, stagnating, or falling interest rates
  • require quarterly interest payments
  • require redemption of 100% at the end of maturity, i.e. capital guarantee for the nominal value (subject to the default risk associated with Erste Group Bank AG).

Payment notes

This bearer bond pays a variable interest rate of at least 1.50% (floor) and at most 4.00% (cap) per year.


This bearer bond is redeemed on 6 March 2020 at 100% (subject to the default risk associated with Erste Group Bank AG).

Secondary market

The bearer bond will be publicly offered in Germany and listed in Austria. Listing at Baden-Württembergische Wertpapierbörse as well as at Frankfurter Wertpapierbörse is scheduled for 6 March 2013. From the value date onwards the bearer bond can be traded on each stock exchange day during trading hours. However, Erste Group Bank AG cannot guarantee the existence or maintenance of an active market throughout the entire life of the bond. The issuer will, as a rule, continuously quote prices, but is not obligated to do so. Neither is the issuer obligated to redeem the bonds. During the life of the bond its price will be significantly determined by the general development of interest rates, the fluctuations on the capital market, and the general economic scenario. The bearer bond will be issued on a continuous basis.

Legal note

The content on this page is for informational purposes only for existing investors. This product is not offered for subscription and is not a public offering.



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