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VTB Capital Finance has set the multiplier for series 15 bonds at 1.03

October 11, 2013
Maximum size of the floating rate coupon on the series 15 bond of VTB Capital Finance tied to the equity price of Norilsk Nickel will be up to 30.9%, according to the issuer's report. Following book-building, the issuer set the value of the multiplier at 1.03. Thus, with a decrease in the share price or an increase by no more than 5%, the floating coupon will equal zero; if the shares rise more than 5%, but not more than 35%, the floating coupon rate changes from zero to 30.9%. If the share price grows by more than 35%, the coupon will be fixed at 30.9%. The placement will be held on October 14. The issue size is RUR 1 bln. Face value is RUR 1,000 per bond. The issue tenor is 10 years, with a 2.5-yr. put. The issuer decided to redeem the bonds ahead of maturity date on May 20, 2015, at 100% of par. The coupon rate was set at 0.1% p.a. Previously, it was reported that the issue terms included a possibility of additional income, and the underlying asset was the price of one ordinary share of Norilsk Nickel (GMKN) traded on MICEX. The formula for calculation of the additional income payable per bond: (Face value x Rate)/ 100%. VTB Bank is the Arranger of the issue.
  • 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