Issue conditions in Final Terms

Dept 20 - Debt and Financial Assets Management Department
Dept 20 - Debt and Financial Assets Management Department

Published

  • State Debt
  • T-Bonds

The Czech Republic
acting through the Ministry of Finance

Issue of € 300,000,000 Floating Rate Notes due October 2015
€ 10,000,000,000 Euro Medium Term Note Programme

(Final Terms dated 30 September 2009)

 

This document constitutes the Final Terms relating to the issue of Notes described herein.

Terms used herein shall be deemed to be defined as such for the purposes of the Terms and Conditions set forth in the Amended and Restated Fiscal Agency Agreement dated 7 September 2009 (the “Fiscal Agency Agreement”).  These Final Terms contain the final terms of the Notes and must be read in conjunction with the Terms and Conditions of the Notes as set forth in the Fiscal Agency Agreement and the Listing Document dated 7 September 2009 (the “Listing Document”).

PART A – CONTRACTUAL TERMS
1. Issuer: The Czech Republic, acting through the Ministry of Finance
2. (i) Series Number: 3
  (ii) Tranche Number: 1
3. Specified Currency or Currencies: Euro (“€”)
4. Aggregate Principal Amount:  
  (i) Series: €300,000,000
  (ii) Tranche: €300,000,000
5. Issue Price: 101.33 per cent. of the Aggregate Principal Amount
6. (i) Specified Denominations: €1,000
  (ii) Calculation Amount: €1,000
7. (i) Issue Date: 5 October 2009
  (ii) Interest Commencement Date: Issue Date
8. Maturity Date: 5 October 2015
9. Interest Basis: 6-Month EURIBOR + 100 bps. Floating rate
10. Redemption/Payment Basis: Redemption at par
11. Change of Interest or Redemption/Payment Basis: Not Applicable
12. Put/Call Options: Not Applicable
13. (i) Status of the Notes: Senior
  (ii) Date approval for issuance of Notes obtained: Not Applicable
14. Method of distribution: Non-syndicated

 

PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
15. Fixed Rate Notes Provisions: Not Applicable
16. Floating Rate Notes Provisions: Applicable
  (i) Interest Period(s): As defined in Condition 5.11
  (ii) Specified Interest Payment Dates:

 

5 April and 5 October in each year from and including 5 April 2010 to and including the Maturity Date, all subject to adjustment in accordance with the Business Day Convention specified below

 

  (iii) First Interest Payment Date: 5 April 2010
  (iv) Business Day Convention: Following Business Day Convention
  (v) Business Centre(s): Not Applicable
 

 

(vi) Manner in which the Rate(s) of Interest is/are to be determined:

 

Screen Rate Determination
 

 

(vii) Party responsible for calculating the Rate(s) of Interest and/or Interest Amount(s) (if not the Agent):

 

Not Applicable
  (viii) Screen Rate Determination:  
  – Reference Rate: 6-Month EURIBOR
  – Interest Determination Date(s):

 

The date falling two Target Business Days prior to the first day of the relevant Interest Accrual Period

 

  – Relevant Screen Page: Reuters page EURIBOR01
  (ix) ISDA Determination: Not Applicable
  (x) Margin(s): + 100 bps per annum
  (xi) Minimum Rate of Interest: Not Applicable
  (xii) Maximum Rate of Interest: Not Applicable
  (xiii) Day Count Fraction: Actual/360
 

 

(xiv) Fall back provisions, rounding provisions, denominator and any other terms relating to the method of calculating interest on Floating Rate Notes, if different from those set out in the Conditions:

 

As set out in the Conditions
17. Zero Coupon Note Provisions: Not Applicable
18. Index-Linked Interest Note Provisions: Not Applicable
19. Dual Currency Note Provisions: Not Applicable

 

PROVISIONS RELATING TO REDEMPTION
20. Call Option: Not Applicable
21. Put Option: Not Applicable
22. Final Redemption Amount of each Note: €1,000 per Calculation Amount
23. Early Redemption Amount  
 

 

Early Redemption Amount(s) per Calculation Amount payable on redemption for taxation reasons or on event of default or other early redemption and/or the method of calculating the same (if required or if different from that set out in the Conditions):

 

As set out in the Conditions

 

GENERAL PROVISIONS APPLICABLE TO THE NOTES
24. Form of Notes:

Temporary Global Note exchangeable for a Permanent Global Note which is exchangeable for Definitive Notes in the limited circumstances specified in the Permanent Global Note.

 

25. New Global Note: Yes
26.

Financial Centre(s) or other special provisions relating to payment dates:

 

Not Applicable
27.

Talons for future Coupons or Receipts to be attached to Definitive Notes (and dates on which such Talons mature):

 

No
28.

Details relating to Partly Paid Notes (amount of each payment comprising the Issue Price and date on which each payment is to be made and consequences (if any) of failure to pay, including any right of the Issuer to forfeit the Notes and interest due on late payment):

 

Not Applicable
29.

Details relating to Installment Notes: amount of each installment, date on which each payment is to be made:

 

Not Applicable
30.

Redenomination, renationalization and reconventioning provisions:

 

Not Applicable
31. Consolidation provisions: Not Applicable
32. Other final terms: Not Applicable

 

DISTRIBUTION
33. (i) If syndicated, names of Managers: Not Applicable
  (ii) Stabilising Manager(s) (if any): Not Applicable
34. If non-syndicated, name of Dealer: Not Applicable. Notes issued pursuant to Section 4.2 of the Fiscal Agency Agreement
35. U.S. Selling Restrictions: TEFRA D
36. Additional selling restrictions: Not Applicable

 

PURPOSE OF FINAL TERMS

These Final Terms comprise the final terms required to list the issue of Notes described herein pursuant to the €10,000,000,000 Euro Medium Term Note Programme of The Czech Republic acting through the Ministry of Finance.

RESPONSIBILITY

The Issuer accepts responsibility for the information contained in these Final Terms.

Signed on behalf of The Czech Republic acting through the Ministry of Finance:

By: Eduard Janota
Duly authorized

 

PART B - OTHER INFORMATION
1. LISTING
  (i) Listing: Luxembourg
  (ii) Admission to trading:

 

Application has been made by the Issuer (or on its behalf) for the Notes to be admitted to trading on the regulated market of the Luxembourg Stock Exchange with effect from the Issue Date.

 

  (iii) Estimate of total expenses related to admission to trading:
€ 3,610
2. RATINGS
  Ratings: The Notes to be issued have been rated:
    S & P: A
    Moody’s: A1
    Fitch: A+
3. INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE/OFFER
 

 

Save as discussed in “Distribution of the Notes” in the Listing Document, so far as the Issuer is aware, no person involved in the offer of the Notes has an interest material to the offer.

 

4. REASONS FOR THE OFFER, ESTIMATED NET PROCEEDS AND TOTAL EXPENSES
  (i) Reasons for the offer: Funding the state budget
  (ii) Estimated net proceeds:
€265,987,851.30
5. OPERATIONAL INFORMATION
  ISIN Code: XS0453511577
  Common Code: 045351157
  Any clearing system(s) other than Euroclear Bank S.A./N.V. and Clearstream Banking, société anonyme and the relevant identification number(s): Not Applicable
  Delivery: Delivery against payment
  Names and addresses of initial Paying Agent(s): Citibank, N.A.
21st Floor, Citigroup Centre
Canada Square, Canary Wharf
London E14 5LB, United Kingdom
  Names and addresses of additional Paying Agent(s) (if any): Not Applicable
  Intended to be held in a manner which would allow Eurosystem eligibility: Yes

 

Note that the designation “yes” simply means that the Notes are intended upon issue to be deposited with one of the ICSDs as common safekeeper and does not necessarily mean that the Notes will be recognized as eligible collateral for Eurosystem monetary policy and intra day credit operations by the Eurosystem either upon issue or at any or all times during their life. Such recognition will depend upon the ECB being satisfied that Eurosystem eligibility criteria have been met.