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ING Bank Bond

ING Bank Bond

While offering an income opportunity for small savings at the prevailing market interest rate, it also provides the ability to be converted into cash without losing interest.

It is subject to a lower rate of withholding tax compared to deposits* and generates additional income compared to government bonds.

Features

ING Bank A.Ş. 174-day maturity ING Bank Bond

  • Term starting date of the bond: 24/01/2014
  • Maturity date of the bond: 17/07/2014
  • Demand collection period: Februaray 21-22-23
  • Nominal Value: 150.000.000.- TL 
  • Minimum demand amount: 1.000.-TL 
  • Demand multiples: 1.- TL and multiples 
  • Ek Getiri Oranı: +%0,65 
  • Underlying index for the determination of the bond price: TRT110614T13 ve TRT240914T15
  • IPO hours: 09.00-17.00

The description of the bond distribution:
The underlying “Index Annual Compound Interest Rate” for the bank bond that will be issued based on the discount principle will be calculated with the linear approximation method as of the last day of the demand collection period, between the averages of weighted average annual compound interest rates with same day value date formed in the last 3 trading days in the BİST Debt Securities Market as of the last day of the demand collection period of the indicator Government Domestic Debt Securities above. The interest rate of the Bank Bond will be determined by adding the additional return to the Indicator Interest Rate (Simple). Proportional distribution method will be used. The distribution will be performed based on the supply and demand ratio.

The announcement of the IPO results: The results will be announced to the public on the first business day following the finalization of the distribution list, by being posted at www.ingbank.com.tr and KAP (Public Disclosure Platform.)

Payment for the amount demanded: The nominal amount demanded by the investors will be deposited in cash.

Investment of the deposited money during the demand period: The money will be invested in overnight repo until the ING Bank Bonds demanded are wired to the accounts.

Early Exit: It is no different from the Government Domestic Debt Securities. A secondary market is available. The daily purchase-sale prices will be posted on the screens that our bank's security prices are announced.

Advantages offered by ING Bank Bond: : It offers investors an opportunity to invest their small savings at the prevailing market interest rate. ING Bank Bond can be converted into cash before maturity at market conditions. It is subject to a lower rate of withholding tax compared to deposits (While the withholding tax on deposits is 10% for 6-month term, the withholding tax on the bond is 10% for real persons, and 0% for legal entities). It offers an opportunity for additional income compared to government bonds.

This information is provided for informative purposes only, and does not constitute any direct or indirect investment advice or investment offer, or information regarding the potential risks. The content of the information and comments in this document is based on reliable information sources that are open to public, and does not constitute a declaration of guarantee for third parties on which they can base their investments. Before investing in the ING Bank Bond, the investors should take into consideration the matters explained in the prospectus (Issuer Information Document, Capital Market Instrument Note and Summary). You can access the prospectus (Issuer Information Document, Capital Market Instrument Note and Summary) of the bond through www.ingbank.com.tr and ING Bank branches. Investment products cannot be sold to “American Persons” by our Bank. American Persons include persons who are associated in any way with the United States of America (Being a US citizen, holding a Greencard, having a residence, postal address, or telephone in the US, or acting as a proxy for a person associated with the US.)