Download Raiffeisen Zentralbank Österreich Aktiengesellschaft, Wien

Raiffeisen Zentralbank Österreich Aktiengesellschaft, Wien, Österreich
CHF 200'000'000 Anleihe mit variablem Zinssatz 2008 – 2010
ISIN: CH 003 845 732 8
In Übereinstimmung mit den Anleihebedingungen wurde folgende Zinssatzfestlegung
durchgeführt:
____________________________________________________________________
Festlegungsdatum
15.06.2009
Periode
17.06.2009 (inkl.) bis 17.09.2009 (exkl.)
Anzahl Tage
92
Basis
aktuell / 360
Neuer Zinssatz
0,79500 % p.a.
Fälligkeit
17.09.2009
____________________________________________________________________
Zürich, 15. Juni 2009
CREDIT SUISSE
Raiffeisen Zentralbank Österreich Aktiengesellschaft, Wien, Österreich
CHF 200'000'000 Anleihe mit variablem Zinssatz 2008 – 2010
ISIN: CH 003 845 732 8
In Übereinstimmung mit den Anleihebedingungen wurde folgende Zinssatzfestlegung
durchgeführt:
____________________________________________________________________
Festlegungsdatum
13.03.2009
Periode
17.03.2009 (inkl.) bis 17.06.2009 (exkl.)
Anzahl Tage
92
Basis
aktuell / 360
Neuer Zinssatz
0,81500 % p.a.
Fälligkeit
17.06.2009
____________________________________________________________________
Zürich, 13.03.2009
CREDIT SUISSE
Raiffeisen Zentralbank Österreich Aktiengesellschaft, Wien, Österreich
CHF 200'000'000 Anleihe mit variablem Zinssatz 2008 – 2010
ISIN: CH 003 845 732 8
In Übereinstimmung mit den Anleihebedingungen wurde folgende Zinssatzfestlegung
durchgeführt:
____________________________________________________________________
Festlegungsdatum
15.12.2008
Periode
17.12.2008 (inkl.) bis 17.03.2009 (exkl.)
Anzahl Tage
90
Basis
aktuell / 360
Neuer Zinssatz
1,21667 % p.a.
Fälligkeit
17.03.2009
____________________________________________________________________
Zürich, 15.12.2008
CREDIT SUISSE
KORREKTUR ZINSSATZ
Raiffeisen Zentralbank Österreich Aktiengesellschaft, Wien, Österreich
CHF 200'000'000 Anleihe mit variablem Zinssatz 2008 – 2010
ISIN: CH 003 845 732 8
In Übereinstimmung mit den Anleihebedingungen wurde folgende Zinssatzfestlegung
durchgeführt:
____________________________________________________________________
Festlegungsdatum
15.09.2008
Periode
17.09.2008 (inkl.) bis 17.12.2008 (exkl.)
Anzahl Tage
91
Basis
aktuell / 360
Neuer Zinssatz
3.11833 % p.a.
Fälligkeit
17.12.2008
____________________________________________________________________
Zürich, 15.09.2008
CREDIT SUISSE
Raiffeisen Zentralbank Österreich Aktiengesellschaft, Wien, Österreich
CHF 200'000'000 Anleihe mit variablem Zinssatz 2008 – 2010
ISIN: CH 003 845 732 8
In Übereinstimmung mit den Anleihebedingungen wurde folgende Zinssatzfestlegung
durchgeführt:
____________________________________________________________________
Festlegungsdatum
15.09.2008
Periode
17.09.2008 (inkl.) bis 17.12.2008 (exkl.)
Anzahl Tage
91
Basis
aktuell / 360
Neuer Zinssatz
2.75833 % p.a.
Fälligkeit
17.12.2008
____________________________________________________________________
Zürich, 15.09.2008
CREDIT SUISSE
Raiffeisen Zentralbank Österreich Aktiengesellschaft, Wien, Österreich
CHF 200'000'000 Anleihe mit variablem Zinssatz 2008 – 2010
ISIN: CH 003 845 732 8
In Übereinstimmung mit den Anleihebedingungen wurde folgende Zinssatzfestlegung
durchgeführt:
____________________________________________________________________
Festlegungsdatum
13.06.2008
Periode
17.06.2008 (inkl.) bis 17.09.2008 (exkl.)
Anzahl Tage
92
Basis
aktuell / 360
Neuer Zinssatz
3.30583 % p.a.
Fälligkeit
17.09.2008
____________________________________________________________________
Zürich, 13. Juni 2008
CREDIT SUISSE
Prospektergänzung
16. April 2008
Dieses Inserat erscheint
ausschliesslich zum Zwecke der
Kotierung der darin aufgeführten
Anleihe an der SWX Swiss
Exchange und stellt keine Offerte
zum Kauf der Anleihe dar.
CHF 200 000 000
Raiffeisen Zentralbank Österreich
Aktiengesellschaft
Wien, Österreich
Anleihe mit variablem Zinssatz
2008-2010
mit Aufstockungsmöglichkeit
PROSPEKTERGÄNZUNG
Dieses Inserat ergänzt den Prospekt dieser Anleihe datiert
vom 14. März 2008.
Outlook for 2008
BUSINESS PROSPECTS
The poor mood in the financial markets in the second half of 2007 lasted into the early
months of 2008. While players in the financial markets were plagued by fears of recession,
there was considerably more confidence in the eurozone’s development in the real
economy. For instance, survey results at the beginning of the current year were much
better than had generally been expected. Indeed, important European business climate
indices like Germany’s Ifo Index, rose. Nonetheless, a weaker global economy, the
relatively strong euro, high commodity prices and, above all, a restrictive financial
environment that is affecting companies and consumers alike will burden the European
economy. Against this background, the expectation is that the eurozone will lose some
momentum but will not suffer a slump or recession. As things stand at the moment, we
expect average GDP growth of 1.6 per cent in the eurozone.
The European Central Bank (ECB) is steering its way through the present turbulence in the
financial markets with less violent movements than the US Federal Reserve. Even so, the
cyclical slowdown should restrain inflation enough to give the ECB some leeway to cut
interest rates. We expect its key rate to be cut by 50 basis points by mid-year. If the
uncertainty in the financial system persists and risk premiums stay unusually high, another
rate cut of 25 basis points to 3.25 per cent may take place in the third quarter.
Cautious optimism about Austria
During the first half of 2008, Austria should continue to profit from the economy’s
momentum in 2007, at least partly bucking the international trend. This assumption is
based on indicators like levels of incoming orders and the positive mood in the Austrian
corporate sector. However, Austria too can expect rougher times. Not only is the eurozone
economy likely to cool off considerably, with GDP growth of 1.6 per cent being forecast for
2008. The signals coming from the US give little reason to expect stimulus from that
quarter. Even if Austria and the US have few direct economic ties, allowance must be made
for the indirect knock-on effects of a weaker US economy on third countries.
Following its best year since 1999, Austria can therefore be cautiously optimistic about
2008. In the wake of growth of 3.4 per cent in 2007, its economic growth can be
expected to slow to 2.5 per cent in the current year.
Slightly slower growth in Central and Eastern Europe
Following record rates of growth during the past two years, the Central and Eastern
European economies are likely to cool off a little in 2008. Real GDP in the CEE region
having grown by 6.8 per cent in 2007, robust growth of 5.3 per cent is still expected this
year. Growth is likely to be weaker because the peak of the business cycle has probably
been passed. Moreover, the economic slowdown that is being predicted for the eurozone
could also have an impact in this region.
Besides foreign demand and investment by the corporate sector, private consumption
began to make an increasingly important contribution to economic growth in the CEE
region last year. It was stimulated by rising employment, faster wage growth and a
sustained strong advance in lending to private individuals.
However, given the anticipated increase in inflation, real wages are likely to grow by slightly
less in 2008 than in 2007. In addition, the price of personal loans will increase as a result
of higher funding costs in the banking industry. On the other hand, a slowdown in private
demand in a number of countries in Southeastern Europe, where the credit boom triggered
a big increase in current account deficits, may have a positive impact when it comes to
sustainable medium to long-term economic growth.
Furthermore, in the past, the Central and Eastern European economies have already
demonstrated their ability to escape the detrimental effects of a temporary economic
slowdown in the eurozone. Consequently, the pace of the catch-up process in the region
should be maintained despite weaker consumer demand. Subsequently, continuation in the
medium term of the real and, in part, nominal appreciation of the Central and Eastern
European currencies should be assured.
A sustained growth path
As in prior years, the sustained catchup process in the CEE region will have a decisive
impact on RZB’s business performance in 2008. RZB’s strategic positioning as one of
Austria’s leading corporate banks and its intensive and broadly based activities as a socalled universal bank in the CEE region combined with the high proportion of its business
activities accounted for by retail banking activities make it more resistant to present
uncertainties in the international financial markets.
RZB will remain on its growth path and is likely to grow more strongly than its competitors.
We expect roughly double-digit growth in our balance sheet total. We will continue to
systematically follow the same successful course as in the past, focusing on qualitative
growth and the achievement of adequate profits. In the Group’s growth markets, this will go
hand in hand with the active acquisition of market shares so as to secure the Group’s
profitability on a sustained basis.
As in prior years, Profit before tax is expected to show close to double-digit growth in
2008. Because of the capital increases carried out in 2007, RZB’s Return on equity is
likely to be roughly static on the previous year despite higher profit.
VALORENNUMMER
SegaInterSettle
ISIN
Common Code
Tickersymbol
3845732
CH0038457328
035190716
RZB08
Investment Banking ! Private Banking ! Asset Management
Supplément au
Prospectus
Le 16 avril 2008
Cette annonce est publiée
uniquement aux fins de cotation de
l’emprunt sous-mentionné auprès
de la SWX Swiss Exchange et ne
constitue pas une offre d’achat de
l’emprunt.
CHF 200 000 000
Raiffeisen Zentralbank Österreich
Aktiengesellschaft
Vienne, Autriche
Emprunt à taux variable 2008-2010
avec claus de réouverture
SUPPLÉMENT AU
PROSPECTUS
Cette annonce est supplémentaire au prospectus de cet
emprunt daté du 14 Mars 2008
Outlook for 2008
BUSINESS PROSPECTS
The poor mood in the financial markets in the second half of 2007 lasted into the early
months of 2008. While players in the financial markets were plagued by fears of recession,
there was considerably more confidence in the eurozone’s development in the real
economy. For instance, survey results at the beginning of the current year were much
better than had generally been expected. Indeed, important European business climate
indices like Germany’s Ifo Index, rose. Nonetheless, a weaker global economy, the
relatively strong euro, high commodity prices and, above all, a restrictive financial
environment that is affecting companies and consumers alike will burden the European
economy. Against this background, the expectation is that the eurozone will lose some
momentum but will not suffer a slump or recession. As things stand at the moment, we
expect average GDP growth of 1.6 per cent in the eurozone.
The European Central Bank (ECB) is steering its way through the present turbulence in the
financial markets with less violent movements than the US Federal Reserve. Even so, the
cyclical slowdown should restrain inflation enough to give the ECB some leeway to cut
interest rates. We expect its key rate to be cut by 50 basis points by mid-year. If the
uncertainty in the financial system persists and risk premiums stay unusually high, another
rate cut of 25 basis points to 3.25 per cent may take place in the third quarter.
Cautious optimism about Austria
During the first half of 2008, Austria should continue to profit from the economy’s
momentum in 2007, at least partly bucking the international trend. This assumption is
based on indicators like levels of incoming orders and the positive mood in the Austrian
corporate sector. However, Austria too can expect rougher times. Not only is the eurozone
economy likely to cool off considerably, with GDP growth of 1.6 per cent being forecast for
2008. The signals coming from the US give little reason to expect stimulus from that
quarter. Even if Austria and the US have few direct economic ties, allowance must be made
for the indirect knock-on effects of a weaker US economy on third countries.
Following its best year since 1999, Austria can therefore be cautiously optimistic about
2008. In the wake of growth of 3.4 per cent in 2007, its economic growth can be
expected to slow to 2.5 per cent in the current year.
Slightly slower growth in Central and Eastern Europe
Following record rates of growth during the past two years, the Central and Eastern
European economies are likely to cool off a little in 2008. Real GDP in the CEE region
having grown by 6.8 per cent in 2007, robust growth of 5.3 per cent is still expected this
year. Growth is likely to be weaker because the peak of the business cycle has probably
been passed. Moreover, the economic slowdown that is being predicted for the eurozone
could also have an impact in this region.
Besides foreign demand and investment by the corporate sector, private consumption
began to make an increasingly important contribution to economic growth in the CEE
region last year. It was stimulated by rising employment, faster wage growth and a
sustained strong advance in lending to private individuals.
However, given the anticipated increase in inflation, real wages are likely to grow by slightly
less in 2008 than in 2007. In addition, the price of personal loans will increase as a result
of higher funding costs in the banking industry. On the other hand, a slowdown in private
demand in a number of countries in Southeastern Europe, where the credit boom triggered
a big increase in current account deficits, may have a positive impact when it comes to
sustainable medium to long-term economic growth.
Furthermore, in the past, the Central and Eastern European economies have already
demonstrated their ability to escape the detrimental effects of a temporary economic
slowdown in the eurozone. Consequently, the pace of the catch-up process in the region
should be maintained despite weaker consumer demand. Subsequently, continuation in the
medium term of the real and, in part, nominal appreciation of the Central and Eastern
European currencies should be assured.
A sustained growth path
As in prior years, the sustained catchup process in the CEE region will have a decisive
impact on RZB’s business performance in 2008. RZB’s strategic positioning as one of
Austria’s leading corporate banks and its intensive and broadly based activities as a socalled universal bank in the CEE region combined with the high proportion of its business
activities accounted for by retail banking activities make it more resistant to present
uncertainties in the international financial markets.
RZB will remain on its growth path and is likely to grow more strongly than its competitors.
We expect roughly double-digit growth in our balance sheet total. We will continue to
systematically follow the same successful course as in the past, focusing on qualitative
growth and the achievement of adequate profits. In the Group’s growth markets, this will go
hand in hand with the active acquisition of market shares so as to secure the Group’s
profitability on a sustained basis.
As in prior years, Profit before tax is expected to show close to double-digit growth in
2008. Because of the capital increases carried out in 2007, RZB’s Return on equity is
likely to be roughly static on the previous year despite higher profit.
NUMÉRO DE VALEUR
SegaInterSettle
ISIN
Common Code
Symbole Ticker
3845732
CH0038457328
035190716
RZB08
Investment Banking ! Private Banking ! Asset Management
Kotierungsinserat
14. März 2008
Dieses Inserat erscheint
ausschliesslich zum Zwecke
der Kotierung der darin
aufgeführten Anleihe an der
SWX Swiss Exchange und
stellt keine Offerte zum Kauf
der Anleihe dar.
CHF 200 000 000
Raiffeisen Zentralbank Österreich
Aktiengesellschaft
Wien, Österreich
Anleihe mit variablem Zinssatz
2008–2010
mit Aufstockungsmöglichkeit
PROGRAMM
RATING
VERZINSUNG
ZINSFÄLLIGKEITEN
ERSTE ZINSPERIODE
LIBERIERUNG
LAUFZEIT
Diese Anleihe wird unter dem «Euro 20 000 000 000
Euro Medium Term Note Programme» (das «Programm») der
Raiffeisen Zentralbank Österreich Aktiengesellschaft ausgegeben.
Die ausstehenden langfristigen Verbindlichkeiten der
Raiffeisen Zentralbank Österreich Aktiengesellschaft werden von
Moody’s mit «Aa2» und von Standard & Poor’s mit «A+» eingestuft.
3-Monats-CHF-LIBOR + 0.40% p.a.
Vierteljährlich am 17. März, 17. Juni, 17. September
und 17. Dezember
17. März 2008 bis 17. Juni 2008
(= 92 Tage auf der Basis aktuell/360)
Der Zinssatz für die erste Zinsperiode, fällig per 17. Juni 2008,
beträgt 3.22167% p.a.
17. März 2008
2 Jahre
VORZEITIGE RÜCKZAHLUNG Nur aus Steuergründen zu pari, unter Einhaltung einer Kündigungsfrist von 30 bis 90 Tagen
RÜCKZAHLUNG
ZUSICHERUNGEN
17. März 2010 zu 100% des Nennwerts (pari)
Pari-Passu-Klausel, Negativ-Pledge-Klausel, Cross-Default-Klausel
VERBRIEFUNG
Globalurkunde auf Dauer;
Investoren haben kein Recht auf Einzelurkunden
STÜCKELUNG
CHF 10 000 und ein Mehrfaches davon
HAUPTZAHLSTELLE
Credit Suisse, Paradeplatz 8, CH-8001 Zürich
PROVISORISCHER HANDEL
Ab dem 14. März 2008 an der SWX Swiss Exchange
KOTIERUNG
Die Kotierung der Anleihe wird im Hauptsegment der
SWX Swiss Exchange beantragt.
ANWENDBARES RECHT
GERICHTSSTAND
FIRMA/
SITZ DES EMITTENTEN
Die Anleihe untersteht englischem Recht
Gerichte von England
Raiffeisen Zentralbank Österreich Aktiengesellschaft
Am Stadtpark 9, 1030 Wien, Österreich
VERKAUFSRESTRIKTIONEN
USA and US Persons, European Economic Area, United Kingdom
DOKUMENTATION
Dieses Kotierungsinserat stellt keinen Emissionsprospekt im Sinne
von Artikel 652a bzw. 1156 OR dar.
Der ausführliche Emissions-/Kotierungsprospekt, der ausschliesslich für die Emission und die Börsenzulassung der Anleihe
massgebend ist, kann tagsüber via Telefon 044 333 28 86 bzw.
im 24-Stunden-Service unter Telefax 044 333 57 79 oder per
e-mail unter «newissues.fi[email protected]» bei der
Credit Suisse bestellt werden.
AKTUELLE KURSE
FEDERFÜHRUNG
VALORENNUMMER
www.primedebt.csfb.ch / Telekurs Finanz: 80,3845732 /
Reuters CSZFI01
Credit Suisse
Zürcher Kantonalbank
SegaInterSettle ISIN
Common Code Tickersymbol
3 845 732
CH0038457328 035190716
RZB08
Investment Banking • Private Banking • Asset Management
Annonce de cotation
14 mars 2008
Cette annonce est publiée
uniquement aux fins de
cotation de l’emprunt sousmentionné auprès de la
SWX Swiss Exchange et
ne constitue pas une
offre d’achat de l’emprunt.
CHF 200 000 000
Raiffeisen Zentralbank Österreich
Aktiengesellschaft
Vienne, Autriche
Emprunt à taux variable
2008–2010
avec clause de réouverture
PROGRAMME
RATING
TAUX D’INTÉRÊT
ÉCHÉANCES D’INTÉRÊT
1E PÉRIODE D’INTÉRÊT
LIBÉRATION
DURÉE
REMBOURSEMENT ANTICIPÉ
REMBOURSEMENT
ASSURANCES
FORME
COUPURES
DOMICILE PRINCIPAL
DE PAIEMENT
NÉGOCE PROVISOIRE
COTATION
DROIT APPLICABLE
FOR JUDICIAIRE
RAISON SOCIALE/
SIÈGE DE L’ÉMETTEUR
RESTRICTIONS DE VENTE
DOCUMENTATION
Cet emprunt est émis sous le «Euro 20 000 000 000
Euro Medium Term Note Programme» (le «Programme») de
Raiffeisen Zentralbank Österreich Aktiengesellschaft.
Les obligations à long terme de Raiffeisen Zentralbank Österreich
Aktiengesellschaft sont assorties du rating «Aa2» par Moody’s et
«A+» par Standard & Poor’s.
3-Mois-CHF-LIBOR + 0.40% p.a.
Trimestriellement le 17 mars, 17 juin, 17 septembre
et 17 décembre
17 mars 2008 à 17 juin 2008 (= 92 jours sur la base actuel/360)
Le taux d’intérêt pour la première période d’intérêt, échéant le
17 juin 2008, s’élève à 3.22167% p.a.
17 mars 2008
2 ans
Pour raisons fiscales uniquement au pair, avec préavis d’au moins
de 30 jours et pas de plus de 90 jours
17 mars 2010 à 100% de la valeur nominale (au pair)
Clause pari-passu, clause négative-pledge, clause cross-default
Certificat global durable;
Les investisseurs ne peuvent exiger la livraison de titres individuels
CHF 10 000 nominal et ses multiples
Credit Suisse
Paradeplatz 8, CH-8001 Zurich
A partir du 14 mars 2008 à la SWX Swiss Exchange
La cotation de l’emprunt sera requise au marché principal de la
SWX Swiss Exchange.
L’emprunt et le programme sont soumis au droit anglais.
Tribunaux de l’Angleterre
Raiffeisen Zentralbank Österreich Aktiengesellschaft
Am Stadtpark 9, 1030 Vienne, Autriche
USA and US Persons, European Economic Area, United Kingdom
La présente annonce de cotation n’est pas un prospectus
d’émission au sens des articles 652a et 1156 CO.
Le prospectus d’émission et de cotation, qui seul est déterminant
pour l’émission et la cotation en bourse, peut être commandé par
téléphone pendant les heures de bureau au numéro 044 333 28 86
ou par télécopie en service continu au numéro 044 333 57 79
ou par e-mail sous «newissues.fi[email protected]»
chez Credit Suisse.
COURS ACTUELS
DIRECTION
NUMÉRO DE VALEUR
www.primedebt.csfb.ch / Telekurs Finance: 80,3845732 /
Reuters CSZFI01
Credit Suisse
Banque Cantonale de Zurich
SegaInterSettle ISIN
Common Code Symbole Ticker
3 845 732
CH0038457328 035190716
RZB08
Investment Banking • Private Banking • Asset Management