On May 18 this year, AB Bank SNORAS begins to distribute two emissions of one-year fixed interest bonds. For these securities, purchased in Euros, Bank SNORAS will pay 8 per cent, for those purchased in Litas - 10 per cent annual interest. This investment instrument will enable the bank's clients to earn more than saving up money in the time deposit.
The clients will be able to acquire the bonds distributed by Bank SNORAS from 18 May till 10 June. While investing in the bank's bonds in Litas with 10 per cent annual return, the minimum possible investment sum is 100 Litas. The nominal value of one bond in Euros is 100 Euros. The bonds will be redeemed and the accrued interest will be paid out on 14 June 2010.
“The main advantage of investing in the bonds is that the investor while purchasing the bonds already knows the amount of the investment return he will receive. Flexibility is also important - if more profitable investment alternatives appear or the circumstances change, if all or part of the invested money is needed, the investor will be able to sell the bonds to the bank without forfeiting the already accrued interest,” says Remigijus Bartaška the deputy director of AB Bank SNORAS Investment Business Division.
The fixed remittance price of AB Bank SNORAS bonds on the secondary market is determined for every week of the bond validity period. After purchasing these bonds, you will be able to sell them without forfeiting 8 or 10 per cent annual return since 13 July this year, i.e. after 32 days since the bonds effective date.
Bank SNORAS applies neither the bond purchase fee nor the anticipated bond selling fee. As usual, during the bond distribution period the price is variable: the sooner the client purchases the securities, the less he pays.
The bonds in Euros and Litas are distributed in all Bank SNORAS customer service subdivisions: in the branches, branch outlets and mini-banks (mini “Snoras”). Bank SNORAS Brokerage Department also provides consultations and recommendations. You can familiarize yourselves with the conditions of the new bond emission at the bank's website
www.snoras.com as well as by calling at the toll-free bank information phone No. 8 800 27272.
This year it is already the seventh and eighth AB Bank SNORAS bond emissions, which are distributed in accordance with the base 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.