Term
| 10 years, as from the respective value date of each subscription |
Interest Rate
| Calculated on a monthly basis on the second-last business day on the month, to be in force during the month ensuing, according to the formula below:
E3+1% where E3 is the average amount of the three month Euribor recorded over the previous ten business days, rounded off to the third decimal point.
From the formula above cannot result an interest basis tax superior to 3.5% neither inferior to 0%
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Interest Period
| Each subscription will accrue interest on a quarterly basis. The interest becomes due on the day of the month equal to the subscription's value date. Should this day not exist in the maturity month, the interest will become due on the first day of the subsequent month.
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Holding premium in percentage points
| The premiums shown below accrue at the rate base:
- 0.5% - from the second year (beginning) to the fifth year (ending);
- 1.0% - from the sixth year (beginning) to the tenth year(ending).
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Capitalisation
| Automatic capitalisation of the accrued interest (net of income tax). |
Reimbursement
| Of capital and capitalised interest on the 10st anniversary of the subscription's settlement date. The amounts will be credited in an account (the International Bank Account Number (IBAN) must be indicated when taking out the 1st subscription).
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Early redemption
| Total or partial, as from the date on which the subscription's first interest payment becomes due. The redemption establishes the repayment of the nominal amount of the units redeemed and of the amount of the interest capitalised up until the redemption date.
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Transfer/Prescription
| Series E Savings Certificates expire in favor of the FRDP within a period of 10 years from the respective expiration date, in accordance with Law No. 7/98, of February 3
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