Maturity
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10 years, counting from the value date of each subscription
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Interest Rate |
In the subscription was fixed and guaranteed interest rate that will be earned in year 10 and in 5th grade, as well as which will be distributed annually from 1st to 4th year, these rates listed lug delivered upon subscription
Interest shall be distributed as follows:
i) From the 1st to the 5th year, interest shall be paid annually using the BT or 12-month Euribor rate fixed on the date of subscription.;
ii) In the 5th year, interest shall be paid according to the difference between the return on the BT or 12-month Euribor and 5-year OT so as to ensure a return linked to the OT during the respective investment period (spread);
iii) From 5th to 9th year, interest shall be paid annually based on the 5-year OT rate guaranteed on the subscription date;
iv) In the 10th year, interest shall be paid according to the difference between the return on the 5- and 10-year OT so as to ensure a return linked to these OT during the respective investment period (spread). |
Interest Period |
Each subscription shall bear interest on an annual basis to be credited in the respective account via the International Bank Account Number (IBAN). Interest shall become due on the anniversary of the subscription value date. Should this day not exist in the settlement month, the interest shall be paid on the first day of the subsequent month.
There is no interest capitalization.
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Repayment |
The capital shall be automatically repaid at nominal value on the 10th anniversary of the subscription value date. Should this day not exist in the settlement month, the interest shall be paid on the first day of the subsequent month. The capital shall be credited in the account via the IBAN.
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Early Redemption |
a) All subscriptions may be totally or partially redeemed 6 months after the subscription value date. In the case of partial redemption, the remaining number of units subscribed may not be less than the minimum number of units required for a new subscription.
b) c) The redemption may be ordered by the certificate holders or their nominee in the due exercise of their duties.
c) Should redemption take place outside the interest payment date, interest shall not be paid between the last annual payment date and the redemption date.
d) The redemption amount shall always be credited in the account via the IBAN. |
Transfer/Presccription |
Treasury Certificates are transferable only on the death of the respective holder and prescribe in favour of the FRDP (Fund for the Repayment of National Debt) within 10 years after the death of the holder under general civil law.
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