AB Bank SNORAS distributes the 11 per cent fixed-interest bond emission

On February 17 - March 13 this year, AB Bank SNORAS distributes one-year bonds with the fixed 11 per cent annual return, which can be regained after keeping the bonds for at least 28 days. This investment instrument will allow to earn more than accumulating money in the time deposit.

“According to our assessment, currently Bank SNORAS bonds on the market are one of the most attractive offers to clients seeking other saving instruments than time deposits. The new Bank SNORAS bond emission merges two criteria which are presently important for the population. On the one part, it allows to earn a considerable 11 per cent return and therefore to obtain more profit than accumulating a time deposit. On the other part, the money invested into the bonds is not frozen - if the funds are needed earlier than the bond validity term specifies, the investor can sell them without forfeiting the return already after 28 days since the bond effective date,” states Nila Pansevičiūtė, the director of AB Bank SNORAS Investment Product Sales Department.

The nominal value of one bond with the fixed 11 per cent interest rate or the minimum possible investment sum is 100 Litas, and there is no bond purchase fee. Bank SNORAS bonds become effective on 16 March this year, the redemption date of these securities is 19 March 2010.

The fixed selling price of AB Bank SNORAS bonds is determined for every week of the bond validity period. After acquiring these bonds, they can be sold without forfeiting the 11 per cent return since 13 April this year, i.e. after 28 days since the bond effective date.

“We want to attract the investors' attention that Bank SNORAS applies neither the bond purchase fee, nor the anticipated bond sale fee. In other words, the investors will not incur any additional expenses,” N. Pansevičiūtė says.

As usual, the bond price during the distribution period is changeable: the sooner the client purchases the securities, the less money he pays.

The 11 per cent fixed-interest bonds are distributed in all customer service subdivisions of Bank SNORAS: in the branches, branch outlets and mini-banks (“mini Snoras”). Bank SNORAS Financial Brokerage Department also provides consultations and recommendations. You can also familiarize yourselves with the conditions of the new bond emission at the bank's website www.snoras.lt and by calling at the toll-free bank information phone No.: +370 800 27272.

It is already the sixth Bank SNORAS bond emission and the first one this year, which is distributed according to the basic prospectus of AB Bank SNORAS LTL 100 million worth non-negotiable securities (bonds) approved by the Republic of Lithuania Securities Commission on 11 February this year.