NATIONAL STOCK EXCHANGE OF INDIA LIMITED DEPARTMENT : WHOLESALE DEBT MARKET Download Ref. No: NSE/WDM/23695
Date : June 17, 2013
Circular Ref. No. : 657/2013 Dear Trading Members and Participants, Sub: Three Non-convertible Redeemable Debenture of Citicorp Finance (India) Limited Two Nifty Linked Bonds maturing in 2015 & 2017 and One Equity Linked Bond maturing in 2015 issued by Citicorp Finance (India) Private Limited, has been made available for trading on the WDM segment of the Exchange w.e.f. June 17, 2013 under the category of zero coupon bond. The details of these bonds is enclosed in Annexure I. The total consideration and yield displayed on the trading system shall be indicative and derived from existing interest rate displayed in the coupon rate field. Trading Members and Participants are advised to refer to the detailed offer document by the company available at http://www.nseindia.com/corporates/offerdocument/recent_issue.htm on Exchange website > Citicorp Finance (India) Private Limited > Shelf Offer Document dated May 28, 2013 for Series- 468, Shelf Offer Document dated May 22, 2013
for Series- 469 and Shelf Offer
Document dated May 28, 2013 for Series- 471 prior to executing any trades in these securities.
For and on behalf of National Stock Exchange of India Ltd. Suprabhat Lala Vice President Telephone No
Fax No
Email id
+91-22-26598285/87/89
+91-22-26598286/90
[email protected]
Regd. Office : Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051
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Series-468:-
Security Description
Citicorp Finance Equity Linked RESET 2015 (Sr-468)
Sec Type
DC
Security
CITI15Q
Issue
RESET
Date of Allotment
31-May-2013
Date of Redemption
30-Jun-2015
Issue Size (Rs. in lakhs)
1162
ISIN
INE136E07OZ1
Face Value of each Debenture (in Rs.)
1,00,000/-
Issue Price of each Debenture (in Rs.)
1,00,000/-
Rating
“PP-MLD(AA+)” from ICRA vide its letter dated 08-Feb-2013 and Rationale dated February, 2013
Reference Index Linked Return payable on Redemption Date and paid with the Redemption Amount:
The Share Linked Return shall be the only interest due and payable on the Debentures and shall be calculated as per the following: A) If the Trigger Condition has been satisfied, then the Share Linked Return payable for the period between a) the Deemed Date of Allotment and the Trigger Date (inclusive of both days) shall be - Face Value of Debentures x 15% x Days Accrued / 365 b) the Conversion Date and the Scheduled Valuation Date (inclusive of both days) shall be Face Value of Debentures x 15% X Actual Days/365 Days Accrued shall mean – Number of calendar days from the Deemed Date of Allotment to Trigger Date Actual Days shall mean number of calendar days from the Conversion Date to the Scheduled Valuation Date Conversion Date shall mean 30 days subsequent to the Trigger Date B) If Trigger Condition has not been satisfied, then Share Linked Return = NIL
Regd. Office : Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051
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Barrier Observation Date(s)
Trigger Condition shall be satisfied, if on any Barrier Observation Date, for each i = 1 to 4, SFinali >= (SInitiali * 103%) (Provided that the Barrier Observation Date on which each stock satisfies this requirement need not be the same Barrier Observation Date and the requirement may be satisfied by different shares on different Barrier Observation Dates.) Trigger Date shall mean the Barrier Observation Date on which the Trigger Condition is satisfied. No Share Linked Return shall be payable for the period between the Trigger Date and the Conversion Date. August 28, 2014, September 25, 2014, October 30, 2014, November 27, 2014, December 24, 2014, January 29, 2015, February 26, 2015 and March 26, 2015. All the dates are subject to Business Day Convention.
“Sharei” shall mean and include, the ordinary or common share as specified in the following table Share Issuer/Share – REUTERS (i) Ticker Exchange Initial Price Observation Price (SInital) / Final Price (SFinal) State Bank of SBLNS NSE Official closing Official Closing India price of one Price of one common equity common equity ICICI Bank ICBKNS NSE share on the share on the Limited National Stock National Stock Axis Bank AXBKNS NSE Exchange for each Exchange for each Limited share on the share on the HDFC Bank HDBKNS NSE Deemed Date of relevant Limited Allotment. Observation Date
Interest Period
The period starting from the Deemed Date of Allotment to the Redemption and Maturity Date or such prior date on which the Debenture is redeemed pursuant to the exercise of the Call Option by the Issuer.
Call Option
The Issuer will have the option to call the Debenture in full, for redemption on the Call Option Date.
Call Option Date
Call Option Price
The Issuer may, (with one Business Day‟s prior written notice) elect any Business Day between the Conversion Date and one day prior to the Redemption and Maturity Date (inclusive of both days), to be the Call Option Date. Share Linked Return as determined on the Call Option Date.
Scheduled Valuation Date
One Business Day prior to the Redemption and Maturity Date or the Call Option Date pursuant to exercise of the Call Option by the Issuer, whichever is earlier, subject to Business Day Convention.
Put Option (Redemption at the Option of the Debenture Holders) Put Option Date Put Option Price Put Notification Time
NA
Regd. Office : Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051
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Valuation Agency
ICRA Limited The Valuation Agency will publish a valuation on its website at least once every calendar week. The valuation shall be available on the website of the Valuation Agency at www.icra.in. The Issuer will also make available, as soon as practicable, the valuation provided by the Valuation Agency on the website of the Issuer at www.citicorpfinance.co.in. The cost of valuation shall be in the range of 0.05% p.a. to 0.15% p.a. and shall be borne by the Issuer. The latest and historical valuations for the Debentures will be published on the website of the Issuer at www.citicorpfinance.co.in and on the website of the Valuation Agency at www.icra.in. Upon request by any Debenture Holder for the valuation of the Debentures, the Issuer shall to provide them with the latest valuation.
Series-469:Security Description
Citicorp Finance Nifty Linked RESET 2015 (Sr-469)
Sec Type
DC
Security
CITI15R
Issue
RESET
Date of Allotment
28-May-2013
Date of Redemption
29-Jun-2015
Issue Size (Rs. in lakhs)
455
ISIN
INE136E07OY4
Face Value of each Debenture (in Rs.)
1,00,000/-
Issue Price of each Debenture (in Rs.)
1,00,000/-
Rating
“PP-MLD(AA+)” from ICRA vide its letter dated 08-Feb-2013 and Rationale dated February, 2013
Regd. Office : Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051
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Reference Index Linked Return payable on Redemption Date and paid with the Redemption Amount:
The Reference Index Linked Return shall be the only interest due and payable on the Debentures and shall be calculated as per the following: Reference Index Linked Return shall be = Face Value of Debenture * Reference Index Return Factor Reference Index Return Factor shall mean, A) If the Trigger Condition is satisfied, then Reference Index Return Factor for the period between – a. the Deemed Date of Allotment and Annual Date (inclusive of both days) shall be 11% [The annualised interest payable on the Debentures on a simple interest basis may be computed by dividing the sum arrived at as per the formula provided above by (Actual Days1/365)] b. One day after the Annual Date and the Call Date (inclusive of both days) shall be = 10% p.a. (simple interest) * Actual Days2/365 B) If the Trigger Condition is not satisfied, then Reference Index Return Factor for the period between – a. the Deemed Date of Allotment and Annual Date (inclusive of both days) shall be = 9% [The annualised interest payable on the Debentures on a simple interest basis may be computed by dividing the sum arrived at as per the formula provided above by (Actual Days1/365)] b. One day after the Annual Date and the Call Date (inclusive of both days) shall be = 10% p.a. (simple interest) * Actual Days2/365
Interest Payment Date Call Option
Call Option Date Call Option Price
Annual Date shall mean May 30, 2014 Trigger Condition shall be satisfied if the Official Closing Level of Reference Index on May 29, 2014 is at or above 125% of Start Reference Index Level Actual Days1 shall mean number of calendar days between Deemed Date of Allotment and the Annual Date (inclusive of both days). Actual Days2 shall mean number of calendar days between one day after the Annual Date and the Call Date (inclusive of both days). Please note that no interest shall be payable between the Call Date and the date on which the debentures are redeemed pursuant to the Issuer‟s Call Option. If the Call Option is not exercised no interest shall be paid for the 30 calendar days (including the Redemption and Maturity Date ) prior to the Redemption and Maturity Date. On the Redemption and Maturity Date or such prior date on which the Debenture is redeemed pursuant to the exercise of the Call Option by the Issuer subject to Business Day Convention. The Issuer will have the option, to elect a Call Option Date and for the Debentures to be redeemed in full, on the Business Day falling 30 days after the Call Option Date. The Issuer may, (with one Business Day‟s prior written notice) elect any Business Day between Annual Date and 31 days prior to the Redemption and Maturity Date (inclusive of both days), to be the Call Option Date. Reference Index Linked Return as determined on the Call Option Date.
Regd. Office : Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051
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Scheduled Valuation Date Put Option (Redemption at the Option of the Debenture Holders) Put Option Date Put Option Price Put Notification Time Valuation Agency
Series – 471:Security Description
One Business Day prior to the Redemption and Maturity Date or one Business Day prior to the date on which the Debenture is redeemed pursuant to exercise of the Call Option by the Issuer, subject to Business Day Convention. NA
ICRA Limited The Valuation Agency will publish a valuation on its website at least once every calendar week. The valuation shall be available on the website of the Valuation Agency at www.icra.in. The Issuer will also make available, as soon as practicable, the valuation provided by the Valuation Agency on the website of the Issuer at www.citicorpfinance.co.in. The cost of valuation shall be in the range of 0.05% p.a. to 0.15% p.a. and shall be borne by the Issuer. The latest and historical valuations for the Debentures will be published on the website of the Issuer at www.icra.in and on the website of the Valuation Agency at www.citicorpfinance.co.in. Upon request by any Debenture Holder for the valuation of the Debentures, the Issuer shall to provide them with the latest valuation.
Citicorp Finance Nifty Linked RESET 2017 (Sr-471)
Sec Type
DC
Security
CITI17K
Issue
RESET
Date of Allotment
31-May-2013
Date of Redemption
28-Feb-2017
Issue Size (Rs. in lakhs)
465
ISIN
INE136E07PA1
Face Value of each Debenture (in Rs.)
1,00,000/-
Issue Price of each Debenture (in Rs.)
1,00,000/-
Rating
“PP-MLD(AA+)” from ICRA vide its letter dated 08-Feb-2013 Rationale dated February, 2013.
Regd. Office : Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051
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Interest Period
The period, starting from the Deemed Date of Allotment to (i) the Redemption and Maturity Date (inclusive of both days) or (ii) the Call Option Exercise Date (inclusive of both days). No interest shall be payable between the Call Option Start Date and the date on which the Debentures are redeemed pursuant to the Call Option of the Issuer on the Call Option Exercise Date. If the Call Option is not exercised by the Issuer no interest shall be paid for the 90 calendar days prior to and including the Redemption and Maturity Date.
Regd. Office : Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051
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Reference Index Linked Return payable on Redemption Date and paid with the Redemption Amount
The Reference Index Linked Return shall be the only interest due and payable on the Debentures and shall be calculated as per the following: Reference Index Linked Return shall be = A) If the Trigger Condition is satisfied, then Reference Index Linked Return for the period between – a. the Deemed Date of Allotment and Call Option Start Date (inclusive of both days) shall be 45% [The annualised interest payable on the Debentures on a simple interest basis may be computed by dividing the sum arrived at as per the formula provided above by (Actual Days1/365)] b. One day after the Call Option Start Date and the Call Option Exercise Date or Redemption and Maturity Date (as the case may be) (inclusive of both days) shall be = [10% p.a. (simple interest) * Actual Days2/365] * (Face Value of Debenture + Sum arrived at as per „a‟ above) B) If the Trigger Condition is not satisfied, then Reference Index Linked Return for the period between – a. the Deemed Date of Allotment and Call Option Start Date (inclusive of both days) shall be = Max [0%, Accrued Bonus Coupon, 115% * {(Observation Value of the Reference Index / Start Reference Index Value) – 100%}] [The annualised interest payable on the Debentures on a simple interest basis may be computed by dividing the sum arrived at as per the formula provided above by (Actual Days1/365)] b. One day after the Call Option Start Date and the Call Option Exercise Date or Redemption and Maturity Date (as the case may be) (inclusive of both days) shall be = [10% p.a. (simple interest) * Actual Days2/365] * (Face Value of Debenture + Sum arrived at as per „a‟ above) Start Reference Index Value shall mean 1/7 * [Sum of Official Closing Level of Reference Index on (Deemed Date of Allotment, June 27, 2013, July 25, 2013, August 29, 2013, September 26, 2013, October 31, 2013, November 28, 2013)] Observation Value of the Reference Index shall mean 1/6 * [Sum of Official Closing Level of Reference Index on (September 24, 2015, October 29, 2015, November 26, 2015, December 31, 2015, January 28, 2016, February 25, 2016)] Trigger Condition shall be satisfied if the Official Closing Level of Reference Index on any Observation Dates starting from December 26, 2013 is at or above 180% of Start Reference Index Value. Actual Days1 shall mean number of calendar days between Deemed Date of Allotment and the Call Option Start Date (inclusive of both days). Actual Days2 shall mean number of calendar days between one day after the Call Option Start Date and the Call Option Exercise Date or the day falling 90 days before the Redemption & Maturity Date (as the case may be) (inclusive of both days). Please note that no interest shall be payable between the Call Date and the date on which the debentures are redeemed pursuant to the Issuer‟s Call Option. If the Call Option is not exercised no interest shall be paid for the 90 calendar days (including the Redemption and Maturity Date ) prior to the Redemption and Maturity Date.
Regd. Office : Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051
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Accrued Bonus Coupon
Interest Payment Date Call Option
Call Option Date
Call Option Price
Sum of [N1 + N2 + N3 + N4 + N5 + N6 + N7] Where; N1 = 9.75%; If Official Closing Level of Reference Index on any Observation Dates starting from December 26, 2013 is at or above 110% of Start Reference Index Value N2 = 9.75%; If Official Closing Level of Reference Index on any Observation Dates starting from December 26, 2013 is at or above 120% of Start Reference Index Value N3 = 9.75%; If Official Closing Level of Reference Index on any Observation Dates starting from December 26, 2013 is at or above 130% of Start Reference Index Value N4 = 9.75%; If Official Closing Level of Reference Index on any Observation Dates starting from December 26, 2013 is at or above 140% of Start Reference Index Value N5 = 9.75%; If Official Closing Level of Reference Index on any Observation Dates starting from December 26, 2013 is at or above 150% of Start Reference Index Value N6 = 9.75%; If Official Closing Level of Reference Index on any Observation Dates starting from December 26, 2013 is at or above 160% of Start Reference Index Value N7 = 9.75%; If Official Closing Level of Reference Index on any Observation Dates starting from December 26, 2013 is at or above 170% of Start Reference Index Value On the Redemption and Maturity Date or such prior date on which the Debenture is redeemed pursuant to the exercise of the Call Option by the Issuer subject to Business Day Convention. The Issuer will have the option, to elect a Call Option Exercise Date and for the Debentures to be redeemed in full, on the Business Day falling 90 days after the Call Option Exercise Date. The Issuer may, (with one Business Day‟s prior written notice) elect any Business Day between Call Option Start Date and 91 days prior to the Redemption and Maturity Date (inclusive of both days), to be the Call Option Exercise Date. Reference Index Linked Return as determined on the Call Option Exercise Date and paid with the Redemption Amount.
Put Option (Redemption at the Option of the Debenture Holders) Put Option Date Put Option Price Put Notification Time
NA
Scheduled Valuation Date
One Business Day prior to the Redemption and Maturity Date or one Business Day prior to the date on which the Debenture is redeemed pursuant to exercise of the Call Option by the Issuer, subject to Business Day Convention.
Regd. Office : Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051
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Valuation Agency
ICRA Limited The Valuation Agency will publish a valuation on its website at least once every calendar week. The valuation shall be available on the website of the Valuation Agency at www.icra.in. The Issuer will also make available, as soon as practicable, the valuation provided by the Valuation Agency on the website of the Issuer at www.citicorpfinance.co.in. The cost of valuation shall be in the range of 0.05% p.a. to 0.15% p.a. and shall be borne by the Issuer. The latest and historical valuations for the Debentures will be published on the website of the Issuer at www.icra.in and on the website of the Valuation Agency at www.citicorpfinance.co.in. Upon request by any Debenture Holder for the valuation of the Debentures, the Issuer shall to provide them with the latest valuation.
Regd. Office : Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051
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