Issue Closing Date February 28, 2011
Tranche Issue of Series 3 Lower Tier II Bonds of face value of Rs. 10,000 each and Series 4 Lower Tier II Bonds of face value of Rs. 10,000 each aggregating to Rs. 10,000 million, with an option to retain over-subscription upto Rs. 10,000 million for issuance of additional Bonds aggregating to a total of upto Rs. 20,000 million. Over and above this, the Issuer has the option to retain all the over-subscription by Retail Applicants upto the Residual Shelf Limit for this Tranche 1 Issue
Options |
Series 3 Lower Tier II Bonds | Series 4 Lower Tier II Bonds |
Frequency of Interest Payment |
Annual | Annual |
Face Value (Rs./Bond) |
Rs. 10,000 | Rs. 10,000 |
Issue Price (Rs./Bond) |
Rs. 10,000 | Rs. 10,000 |
Mode of Interest Payment |
Through various modes available* | Through various modes available* |
Coupon (%) p.a.** |
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- 1) For Retail Applicants |
9.75 % per annum | 9.95 % per annum |
- 2) For Non Retail Applicants |
9.30 % per annum | 9.45 % per annum |
Effective Yield (per annum) |
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- 1) For Retail Applicants |
9.75 % per annum | 9.95 % per annum |
- 2) For Non Retail Applicants |
9.30 % per annum | 9.45 % per annum |
Put Option |
There is no „put‟ option. | There is no „put‟ option. |
Call Option |
The Bank has a “call option” in an amount of the principal amount outstanding of the Series 3 Lower Tier II Bonds after 5 (five) years following the Deemed Date of Allotment being the payment date falling 5 (five)years and one day after the Deemed Date of Allotment of the Series 3 Lower Tier II Bonds, and subject to the prior approval of RBI. | The Bank has a “call option” in anamount of the principal amountoutstanding of the Series 4 Lower Tier IIBonds after 10 (ten)years following theDeemed Date of Allotment being thepayment date falling 10 (ten)years andone day after the Deemed Date of Allotment of the Series 4 Lower Tier IIBonds, and subject to the prior approvalof RBI. |
Step Up Coupon |
There is no „step up‟ coupon. | There is no „step up‟ coupon. |
Lock-in Clause for interest payments/principal payment |
Nil | Nil |
Tenor |
10 (ten) years | 15 (fifteen) years |
Redemption Date |
10 (ten) years from the Deemed Date of Alloment These Series Bonds are not redeemable at the option of the Bondholders or without the prior consent of RBI. | 15 (fifteen) years from the Deemed Date of Alloment These Series Bonds are not redeemable atthe option of the Bondholders or withoutthe prior consent of RBI. |
Redemption Amount (Rs./Bond) |
Rs. 10,000 | Rs. 10,000 |
Nature of Indebtedness and Ranking |
In terms of the Capital Adequacy Guidelines, to be eligible for inclusion as lower tier II, Series 3 Lower Tier II Bonds are fully paid up, unsecured, subordinated to the claims of all other creditors | In terms of the Capital AdequacyGuidelines, to be eligible for inclusion aslower tier II, Series 4 Lower Tier IIBonds are fully paid up, unsecured,subordinated to the claims of all othercreditors |
Credit Rating |
CARE “AAA” by CARE and “AAA” Stable by CRISIL | CARE “AAA” by CARE and “AAA” Stable by CRISIL |
Particulars |
Retail Applicant | HNI | NII, Corporate, QIB(“Non-individual”) |
Reservation for each Category (to be read with Basis of Allotment) |
50% of Rs. 20,000 million. In addition the Bank has the option to retain all valid Applications from Retail Applicants upto the Residual Shelf Limit | 25% of Rs. 20,000 million | 25% of Rs. 20,000 million |
Minimum Application |
Rs. 10,000 | Rs. 5,10,000 | Rs. 10,000 |
In Multiples of |
Rs. 10,000 | Rs. 10,000 | Rs. 10,000 |
Maximum Application |
Rs. 500,000 | Rs. 250,00,00,000 | Rs. 250,00,00,000 |