Press Release

BME registers an issue from Caixabank that boosts the Spanish retail bond market

7 March, 2019
  • New structured bond issue linked to the performance of the Eurostoxx 50 index
  • The bonds will have a Liquidity Provider and transparency and will be traded on SEND

BME’s Fixed Income market, AIAF, today admitted to trading a new structured bond issue from CaixaBank with a value of 950 million euros. Through this issue CaixaBank activates the Spanish Fixed Income bond market and offers its Private and Premier Banking clients a new bond investment alternative linked to the performance of the Eurostoxx 50 stock index.

The issue has a term of 5 years, an individual value of 1,000 euros and the minimum subscription amount per investor is 20,000 euros. The bonds will pay a 4% coupon at maturity, depending on the positive or negative difference of the Eurostoxx 50 index between 1st March 2019 and 1st March 2024. The bonds’ final redemption will be in 2024 at par.

"This new issue, for a very significant amount, is a major boost for Spain’s retail bond market and broadens the alternatives for investors," stated Gonzalo Gómez Retuerto, Managing Director of BME’s Fixed Income Markets.

These securities will be traded on SEND, BME’s Multilateral Electronic Trading Platform, This system allows the introduction of purchase and sale orders by market members as well as automatic trade matching. As a result issues traded on this platform benefit from compliance with pre and post transparency criteria, automatic data management and trade execution on a Regulated Market, in accordance with the provisions set by MiFID II Directive and its transposition into the Spanish Securities Market Law.

CaixaBank will act as the Liquidity Provider for the issue through the introduction into SEND of purchase and sale orders throughout the trading session for minimum amounts of 20,000 euros and reference prices fluctuating within a 3% range, in accordance with the conditions set under the terms of the issue.

The performance of the securities can be tracked in the Daily Trading Bulletins published by BME’s Fixed Income market and on its website www.bmerf.es

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