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Current placement

USD BONDS ISSUED BY "CONVERSE BANK" CJSC

In accordance with resolution N1/786A of the Chairman of the Central Bank of the RA dated 04.10.2017, a supplement was registered for the Program Prospectus /registered pursuant to resolution N1/297A of the Chairman of the Central Bank of the RA dated 25.04.2017/ related to the bonds issued by Converse Bank CJSC.

Placement of the 3rd tranche of the issued bonds begins on October 16, 2017 and will be completed on December 1, 2017. Within the framework of the third tranche, bonds with nominal value of USD 4,000,000 will be placed.

To buy the bonds, the investors shall fill out the Bond Acquisition Application/s/ in accordance with the specified procedure and submit it/them properly to "Converse Bank" CJSC.

After filling out the Bond Acquisition Application and its proper submission to "Converse Bank" CJSC, but not later than by 16:00 of the same working day, the person willing to buy bonds shall make payment for the bonds to the account number 1930043129906501 opened at "Converse Bank" CJSC.

The program prospectus was posted on the Bank’s website on April 28, 2017 and the supplement to the program prospectus - on October 5, 2017.

You can download the electronic version of the program prospect if you click here, and you can obtain the hard copy of it if you visit "Converse Bank" CJSC’s head office at 26/1 Vazgen Sargsyan Str., Republic Square, 0010, Yerevan.
 

ESSENTIAL BOND TERMS

Issuer Converse Bank CJSC
Type of securities Registered, coupon bond
Pay value USD 100 
Total value of 1st tranche USD 4,000,000
Flotation period 24 months
Coupon 5.25%
Coupon payment frequency Semiannual
Allocator Converse Bank CJSC

Under the RA Law on Guarantee of Remuneration of Bank Deposits of Private Individuals, the funds attracted with registered coupon bonds issued by the Bank are deemed a guaranteed bank deposit and are guaranteed by the Deposit Guarantee Fund.

The buyer of bonds should hold or open:

  1. Securities account with any licensed Account Operator, and
  2. USD and AMD account with any bank.

Converse Bank CJSC is an account operator. All respective accounts can be opened also with Converse Bank CJSC.

The accounts are opened and serviced free of charge throughout the bond circulation period for customers acquiring bonds issued by Converse Bank CJSC.

The minimum quantity of bonds to be acquired is 30, and the maximum number is restrained with the total quantity of issue.

The Bank is reserved the right of a tax agent to calculate and pay in due order the income tax (10%) from interests earned against bonds.

Final Issuance Terms can be downloaded here

 

 

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Bond Program Prospectus
Program Prospectus Supplement
Final Issuance Terms
Bond Price
Buy Order for Legal Entities
Buy Order for Individuals

Special Package for Customers Purchasing USD Bonds of the third tranche

The following special conditions of using banking products apply for the customers purchasing bonds:

The following special conditions of using banking products apply for the customers purchasing USD bonds of the third tranche:

  • Providing the Bank’s cardholder customers with a payment card a class higher than the existing one, applying the Bank’s tariffs and rates of the existing card type, defined for the Bank’s customers
  • Providing a payment card to non-cardholder customers of the Bank, at 50% discount to the existing tariff1
  • Possibility of providing a credit limit for the payment card, on the following conditions:2
Type of the credit limit Revolving, without a grace period
Currency of the credit limit USD
Size of the credit limit Up to 95% of the value of pledged bonds
Annual interest rate 8.25%
Maturity Not more than before the working day preceding the due date of bond(s) redemption
  • Current and savings accounts in AMD and USD are opened for the customers purchasing bonds without a service fee for the years when the customer has an unredeemed bond.
  • The customers purchasing bonds are given the opportunity to conclude repo agreements on reverse purchase condition for the purpose of temporary selling of the customer’s bonds. The conditions of the repo agreement are determined on the basis of the market prices and interest rates applied at the time of execution of the transaction.

1 If the buyer of the bond is a legal entity, then the payment card can be provided in the name of the Director and the Chief Accountant of the company. This provision doesn’t apply to cards covered by other promotions announced by the Bank.
2 The credit limit is provided if not less than 30 calendar days remain until expiry of the bond’s maturity term.

If the Bank’s depositors terminate their term deposit agreement prematurely and invest the total amount of the deposit or a part of it in the bonds issued by the Bank, then the interest amount will not be recalculated for premature termination of the deposit agreement provided that in case of partial investment of the amount into bonds, the remaining amount of the deposit will be redeposited until expiry of the term of the terminated deposit.