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Erste Group Subordinated Floater 2018-2028


ISIN:
AT0000A21BT9
WKN:
EB0FG1

Date: 2020/08/06 08:25:32
Bid Ask
90.60 -
Difference 0.00% (0.00)

General attributes

Type of bondErste Group subordinated bonds
Bond stylesubordinated
Issuer typefinancial institution
Country of issueAT
Current coupon1.500%
Coupon stylefloating
Coupon payment date2021/06/20
Coupon payment periodannually
Yield to maturity p.a. (before tax)-
Value date2018/06/20
Maturity2028/06/20
Repayment value100.00
CurrencyEUR
Minimum unit1,000

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Legal note

This product is no longer publicly offered. The product-specific content published here is for information purposes only for those who are already invested and does not constitute marketing communication. Erste Group Bank AG no longer consents to the use of the prospectus for a public offering of this product by third parties. Purchases and sales are made exclusively on the secondary market.
Scale: ABS REL         Instrument

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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

Description

This bond is a security that establishes unsecured and subordinate debt of Erste Group Bank AG (issuer). It constitutes an instrument of Tier 2 capital in accordance with article 63 of Regulation 575/2013/EU (CRR). Due to the subordinate status of bond, claims made by creditors in the event of the liquidation or insolvency (i.e. excessive debt or default) of the issuer will only be fulfilled once all other claims by non-subordinate creditors of the issuer have been satisfied.

This bond pays a variable coupon with a floor of 1.50 % and a cap of 3.00 %. At the end of maturity, which is ten years, the bond is redeemed at 100 % in terms of face value. The creditor has no right to demand early redemption of the bond. However, the issuer is entitled to cancel the bond for tax or regulatory reasons and to redeem it prematurely at 100.00% in terms of face value plus any interest accrued until the date of redemption.

Payment notes

This bond pays a variable coupon with a floor of 1.50 % and a cap of 3.00 % in the following years.

Settlement

This bond will be redeemed on 20/06/2028 at 100 % of face value (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, Austria and Slovak Republic. 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, as well as at the regulated unofficial market of Wiener 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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