corporate · EUR
The current coupon is the rate for the current period according to available data. The benchmark and margin formula comes from issue documents; it does not confirm the current fixing or a conditional margin.
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Fixed interest is to be paid annually on 23 November from 2024 until the first issuer call date. The floating-rate schedule is internally inconsistent: it lists 23 November 2026 as the first payment even though that phase starts on the same date, ends the list on 23 August 2027, while maturity is 23 November 2027. The correct floating-coupon payment dates cannot be confirmed from the reviewed documents.
Final Terms pp. 2–4 conflict on first and final floating-coupon payment dates; base Condition 6.2(a), physical p. 55, does not supply a corrected series-specific schedule. An authenticated correction is required before a definite payment calendar can be released.
(a) Rate(s) of Interest: 5.500 per cent. per annum payable in arrear on each Interest Payment Date up to and including the Optional Redemption Date
The key terms from the issue documents, explained in plain language.
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The currency is EUR. The minimum denomination of a single note is EUR 100,000; the terms permit higher denominations in integral multiples of EUR 1,000 up to EUR 199,000 in definitive form. The EUR 1,000 calculation amount is not the minimum denomination.
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Payment Dates: interest will be payable on each of 23 November 2026,
23 February 2027, 23 May 2027 and 23 August 2027, with the first interest payable on 23 November 2026, subject to adjustment in accordance with the Business
7. Maturity Date: 23 November 2027
the Modified Following Business Day Convention, such Interest Payment Date shall be postponed to the next day which is a Business Day unless it would thereby fall into the next calendar month, in which event such Interest Payment Date shall be brought forward to the immediately preceding Business Day; or (D) the Pr
The issuer has a redemption option on 23 November 2026 at EUR 1,000 per EUR 1,000 calculation amount, with required notice of 15 to 45 days. The terms also provide for selected early redemptions for tax reasons, MREL and clean-up; their exercise has not been established.
16. Issuer Call: Applicable (a) Optional Redemption Date(s): 23 November 2026 (b) Optional Redemption Amount: EUR 1,000 per Calculation Amount (c) Notice period: Minimum period: 15 days
Maximum period: 45 days
21. Redemption for tax reasons: Applicable
19. MREL Disqualification Event: Applicable
18. Clean-up Call Option: Applicable
These are unsecured Senior Non-Preferred MREL obligations of the issuer: subordinated to the specified higher-ranking classes of claims and ranking equally with other Senior Non-Preferred Liabilities. The reviewed terms do not identify a separate guarantor.
Status: Senior Non-Preferred MREL Notes
This Condition 3.2 is applicable in relation to Notes specified in the applicable Final Terms as being Senior Non- Preferred MREL Notes and references to “Notes” in this Condition 3.2 shall be construed accordingly. In such case, the Notes constitute direct, unconditional and unsecured obligations of the Issuer. The Senior Non-Preferred MREL Notes are intended to qualify as MREL Eligible Liabilities. Subject to any other ranking that may apply as a result of any mandatory provision of law, the rights of the holders of the Notes to payments on or in respect of the Notes shall rank: (a) junior to: (A) any liabilities of the Issuer falling into categories 1 to 5 (inclusive) of the Issuer’s liabilities in accordance with art. 440 section 2 of the Insolvency Law; and (B) any other present and future obligations of the Issuer which rank senior to the Senior Non-Preferred MREL Notes in accordance with the Insolvency Law; (b) pari passu among themselves and with any other Senior Non-Preferred Liabilities; and (c) senior to: (A) any liabilities of the Issuer falling into categories 7 to 10 (inclusive) of the Issuer ’s liabilities in accordance with art. 440 section 2 of the Insolvency Law; and (B) any other present and future obligations of the Issuer which rank junior to Senior Non -Preferred Liabilities in accordance with the Insolvency Law. For
Notes constitute direct, unconditional and unsecured obligations of the Issuer. The Senior Non-Prefe
These are contractual terms. They do not confirm the current coupon, completed payments or the issuer’s financial position.
5. (a) Specified Denominations: EUR 100,000 and integral multiples of EUR 1,000 in excess thereof up to and including EUR 199,000. No Notes in definitive form will be issued with a
Calculation Amount: EUR 1,000
Until 23 November 2026, the coupon is fixed at 5.500% per annum. If the issuer does not redeem the notes on that date, interest for the period from that date until maturity is specified as 3M EURIBOR + 2.40 percentage points per annum, with a 0% floor. The documents do not establish the current fixing.
8. Interest Basis: From and including the Issue Date up to but excluding the Optional Redemption Date, the Notes will bear interest at the fixed rate of 5.500 per cent. per annum (see paragraph 13 below) If not redeemed on the Optional Redemption Date, for the period from (and including) the Optional Redemption Date up to (but excluding) the Maturity Date, the Notes will bear interest at 3 month EURIBOR + 2.40 per cent. per annum (see paragraph 14 below)
(a) Rate(s) of Interest: 5.500 per cent. per annum payable in arrear on each Interest Payment Date up to and including the Optional Redemption Date
Reference Rate: 3 month EURIBOR
(i) Margin(s): 2.40% per annum
Fixed interest is to be paid annually on 23 November from 2024 until the first issuer call date. The floating-rate schedule is internally inconsistent: it lists 23 November 2026 as the first payment even though that phase starts on the same date, ends the list on 23 August 2027, while maturity is 23 November 2027. The correct floating-coupon payment dates cannot be confirmed from the reviewed documents.
Final Terms pp. 2–4 conflict on first and final floating-coupon payment dates; base Condition 6.2(a), physical p. 55, does not supply a corrected series-specific schedule. An authenticated correction is required before a definite payment calendar can be released.
(a) Rate(s) of Interest: 5.500 per cent. per annum payable in arrear on each Interest Payment Date up to and including the Optional Redemption Date
Payment Dates: interest will be payable on each of 23 November 2026,
23 February 2027, 23 May 2027 and 23 August 2027, with the first interest payable on 23 November 2026, subject to adjustment in accordance with the Business
7. Maturity Date: 23 November 2027
the Modified Following Business Day Convention, such Interest Payment Date shall be postponed to the next day which is a Business Day unless it would thereby fall into the next calendar month, in which event such Interest Payment Date shall be brought forward to the immediately preceding Business Day; or (D) the Pr
Maturity is 23 November 2027. Unless previously redeemed or cancelled, principal is to be repaid at 100% of nominal value.
7. Maturity Date: 23 November 2027
9. Redemption Basis: Subject to any purchase and cancellation or early redemption, the Notes will be redeemed on the Maturity Date at 100% of their nominal amount
The issuer has a redemption option on 23 November 2026 at EUR 1,000 per EUR 1,000 calculation amount, with required notice of 15 to 45 days. The terms also provide for selected early redemptions for tax reasons, MREL and clean-up; their exercise has not been established.
16. Issuer Call: Applicable (a) Optional Redemption Date(s): 23 November 2026 (b) Optional Redemption Amount: EUR 1,000 per Calculation Amount (c) Notice period: Minimum period: 15 days
Maximum period: 45 days
21. Redemption for tax reasons: Applicable
19. MREL Disqualification Event: Applicable
18. Clean-up Call Option: Applicable
The series 1 terms mark the contractual early redemption option at the noteholder's request as “Not Applicable”.
17. Investor Put: Not Applicable
These are unsecured Senior Non-Preferred MREL obligations of the issuer: subordinated to the specified higher-ranking classes of claims and ranking equally with other Senior Non-Preferred Liabilities. The reviewed terms do not identify a separate guarantor.
Status: Senior Non-Preferred MREL Notes
This Condition 3.2 is applicable in relation to Notes specified in the applicable Final Terms as being Senior Non- Preferred MREL Notes and references to “Notes” in this Condition 3.2 shall be construed accordingly. In such case, the Notes constitute direct, unconditional and unsecured obligations of the Issuer. The Senior Non-Preferred MREL Notes are intended to qualify as MREL Eligible Liabilities. Subject to any other ranking that may apply as a result of any mandatory provision of law, the rights of the holders of the Notes to payments on or in respect of the Notes shall rank: (a) junior to: (A) any liabilities of the Issuer falling into categories 1 to 5 (inclusive) of the Issuer’s liabilities in accordance with art. 440 section 2 of the Insolvency Law; and (B) any other present and future obligations of the Issuer which rank senior to the Senior Non-Preferred MREL Notes in accordance with the Insolvency Law; (b) pari passu among themselves and with any other Senior Non-Preferred Liabilities; and (c) senior to: (A) any liabilities of the Issuer falling into categories 7 to 10 (inclusive) of the Issuer ’s liabilities in accordance with art. 440 section 2 of the Insolvency Law; and (B) any other present and future obligations of the Issuer which rank junior to Senior Non -Preferred Liabilities in accordance with the Insolvency Law. For
Condition 11.3 applies to this class: an ordinary payment delay does not itself permit contractual acceleration; specified judicial insolvency, liquidation or dissolution events may allow a noteholder to demand repayment under the described procedure. The documents do not establish whether such an event has occurred.
Events of Default: Condition 11.3 (Events of Default relating to Senior MREL Notes, Senior Non-Preferred MREL Notes, Senior Subordinated Notes or Tier 2 Subordinated Notes) applies
Save as provided below, there are no events of default under the Senior MREL Notes, Senior Non-Preferred MREL Notes or Senior Subordinated Notes or Tier 2 Subordinated Notes, which could lead to an acceleration of the relevant Senior MREL Notes, Senior Non-Preferred MREL Notes or Senior Subordinated Notes or Tier 2 Subordinated Notes. However, if an order is made by any competent court commencing insolvency proceedings against the Issuer or if any order is made by any competent court or resolution passed for the winding up or dissolution of the Issuer and such order is continuing, then any Holder of a Note may, unless there has been a resolution to the contrary by the Noteholders, by written notice addressed by the Noteholder thereof to the Issuer and delivered to the Issuer and to the specified office of the Issuing and Principal Paying Agent (and addressed to the Issuer), that the Notes shall be declared immediately due and payable, whereupon the principal amount of such Notes together with any accrued and unpaid interest thereon to the date of payment shall become immediately due and payable without further action or formality. 11.4 Notices relating to Events of Default Neither a reduction or cancellation, in part or in full, of the principal or any other redemption amount of, or any
The issuer of EMTN series 1 (ISIN XS2724428193) is Bank Polska Kasa Opieki S.A.
Bank Polska Kasa Opieki S.A.
1. (a) Series Number: 1
(i) ISIN Code: XS2724428193
The issuer states its intention to allocate the proceeds of the green issue to eligible green projects under the Sustainable Finance Framework. This is the stated use of proceeds, not evidence of their actual allocation.
The Issuer intends to issue the Notes as Green Bonds (as defined in the Base Prospectus) and use the net proceeds from this issue of Notes (or any amount equal thereto) to finance or refinance eligible projects and activities that are described in the Sustainable Finance Framework (as defined and further described in the section of the Base Prospectus entitled “Use of Proceeds”). Further details are included in (i) Reasons for the offer: the Issuer’s Sustainable Finance Framework.
The programme's negative pledge is limited to Ordinary Senior Notes, so it does not protect this Senior Non-Preferred MREL series. The two reviewed documents do not identify a separate financial ratio to be maintained for series 1.
This Condition 4 is applicable only in relation to Ordinary Senior Notes. So long as any Ordinary Senior Note remains outstanding, the Issuer shall not create or permit to subsist any Security Interest other than a Permitted
Status: Senior Non-Preferred MREL Notes
The terms prohibit offering, selling or otherwise making the notes available to retail investors in the EEA; the minimum denomination is EUR 100,000. This is an issue intended for professional participants, not an ordinary retail offering.
PROHIBITION OF SALES TO EEA RETAIL INVESTORS – The Notes are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the European Economic Area (EEA).
5. (a) Specified Denominations: EUR 100,000 and integral multiples of EUR 1,000 in excess thereof up to and including EUR 199,000. No Notes in definitive form will be issued with a
These are contractual terms. They do not confirm the current coupon, completed payments or the issuer’s financial position.
Notes constitute direct, unconditional and unsecured obligations of the Issuer. The Senior Non-Prefe