Finnish bank Pohjola to list index-linked bond on NasdaqOMX
Pohjola Bank is issuing a €40m domestic index-linked bond, Pohjola Tutkimuksen Tähdet V/2012 (Pohjola Research Stars V/2012), which will list on NasdaqOMX Helsinki and targets retail investors.
The bond has a five-year maturity and will be issued on 25 April under Pohjola’s domestic bond programme. The subscription period begins on 5 March 2012.
The bond is offered in either ‘Neutral’ or ‘Plus’ versions, with respective issue prices of 100% and 110%. The index-linked yield is calculated by multiplying the return rate by the relative positive change between the initial and final value of the equity basket formed by quoted company shares.
The equity basket index comprises the following nine Finnish companies with the same weightings, selected by Pohjola Research: Fortum, Kone, Metso, Nokia, Nokian Tyres, Sampo, Stora Enso, TeliaSonera and Wärtsilä.
Pohjola Bank is manager of the issue, and branches of OP-Pohjola Group member banks and op.fi/joukkolainat will serve as subscription agents.