fresco fresco di giornata
http://www.investireoggi.it/forum/1799089-post205.html
Due note veloci veloci : vedo ancora il reinstatement quindi tassazione 12,50% , non puo' esserci rimborso se il nominale non e' stato reintegrato.
La call e' si' variabile ma in modo diametralmente opposto a quanto letto finora : la call e' nel 2021 anticipabile al 2016 e non viceversa.
Anche questo come l'ultimo Unicredit in caso applicazionde della Loss absorption non paghera' cedole fino al completo reintegro del nominale.
Il resto del prospetto non l'ho letto ma per me questo titolo al momento non ha alcun motivo di interesse , molto meglio il "vecchio" 506.
Domanda : con la spada di Damocle del richiamo a 102 nel 2013 per me ci sono poche possibilita' di salita o sbaglio?
In the Conditions, the “First Call Date” means 1 June 2021 but, if
Bank of Italy Regulations are amended at any time after the date of
this Prospectus so that instruments that constitute the Issuer’s Tier 1
Capital may be redeemed at the option of the Issuer after five years
from the relevant issue date, then the First Call Date will be 1 June
2016. See also “Risk Factors – Regulatory uncertainty concerning the First
Call Date”.
7.1 Redemption at the option of the Issuer
7.1.1 Subject to Condition 7.1.2 and the paragraph below,
the Notes may be redeemed at the
option of the Issuer in whole, but not in part, on 1 June 2021 (the “First Call Date”) and on
any Reset Date thereafter at a redemption price equal to their Original Principal Amount
together with interest accrued (if any) up to, but excluding, the date fixed for redemption
and any Additional Amounts on the Issuer, giving not less than 30 but not more than 60
days’ notice to the Noteholders in accordance with Condition 15 (Notices).
In the event that the Bank of Italy Regulations are amended at any time after 1 October 2010
so that instruments that constitute the Issuer’s Tier 1 Capital may be redeemed at the
initiative of the Issuer after five years from the relevant issue date, the First Call Date will be
1 June 2016. For the avoidance of doubt, as soon as amendments to the Bank of Italy
Regulations allowing a first issuer call date for instruments eligible as Tier 1 Capital become
effective, any references to the First Call Date will be deemed to be references to 1 June 2016.
7.1.2 In any case if a Principal Write Down Event has occurred the Notes shall not be redeemed in
accordance with this Condition 7.1 until the obligations of the Issuer relating to the principal
of the Notes have been fully reinstated to their Original Principal Amount.
Italian resident Noteholders — applicability of substitute tax
Under Decree No. 239, payments of interest and other proceeds (including the original issue discount, if any)
in respect of the Notes to Italian resident beneficial owners (either when interest and other proceeds are paid
or when payment thereof is obtained by a beneficial owner on a transfer of the Notes) are subject to a final
substitute tax (imposta sostitutiva) at a rate of
12.5 per cent. in the Republic of Italy if made to Italian resident
beneficial owners that are:
(i) private individuals holding the Notes otherwise than in connection with an entrepreneurial activity
(for individuals holding the Notes in connection with an entrepreneurial activity, see below);