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VTB Capital issues rouble bonds linked to the MICEX index - update

December 4, 2012
VTB Capital Finance, part of VTB Capital, has issued rouble bonds with a yield linked to the MICEX index. The volume of transaction is RUB 1bn with a tenor up to 23 January 2014.

Moody’s has assigned the bonds a rating of Baa1 and they have been placed on the MICEX exchange. VTB Bank will act as the guarantor for all payments connected to the bonds.

Under the terms of the bond issue, investors’ profits will come from the rising of the MICEX index during the term of the bonds. The maximum value of the variable coupon, which payment is tied to the MICEX index, is limited to 20%. In the event that the MICEX index falls, clients’ initial investments would be returned fully in addition to receiving a fixed coupon of 0.1% p.a.

This is the fourth such bond issue under the unique domestic structured bond programme initially registered by VTB Capital Finance in December 2011. Previous tranches were linked to MICEX and gold, and were issued in June, August and November 2012.

Dmitry Suspitsyn, Head of Equity Structuring at VTB Capital, noted: "VTB Capital continues to create new investment products as part of the domestic structured bond programme. This new bond issue confirms the growing interest of Russian investors in structured investment products, and in particular, instruments with capital protection. The Russian stock market continues to be attractive to investors, and we are confident that financial instruments linked to Russian securities will continue to be in high demand for a wide range of investors."
  • Status
    early redeemed
  • Country of risk
    Russia
  • Redemption (put/call option)
    *** (***)
  • Amount
    1,000,000,000 RUB
  • М/S&P/F
    — / — / —
  • Full name
    "VTB Capital Finance" Limited Liability Company
  • Registration country
    Russia
  • Industry
    Financial institutions