Finance Ministry says to start OFZ bonds sale for households Wed

MOSCOW, Apr 25 (PRIME) -- The Finance Ministry will starts sales of OFZ bonds for households via offices of VTB 24 bank and Sberbank on Wednesday, the ministry said in a statement on Tuesday.

The debut issue maturing in April 2020 is worth 15 billion rubles. The interest rate of the first semiannual coupon stands at 7.5% annually, the second coupon is 8%, the third is 8.5%, the fourth is 9%, the fifth coupon is 10% and the sixth is 10.5%.

The offering price is set at par as of Wednesday-Friday. The bonds purchased at the offering date will have an interest rate of 9.02% annually, agent fee included.

An investor can buy between 30,000 rubles to 15 million rubles worth of bonds.

Individuals may redeem the OFZ bonds at agents’ offices any day before maturity. The bonds are not intended for the over-the-counter market, including transactions between agents with the exception of inheritance.

(56.0794 rubles – U.S. $1)

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