Corporate Events

Financial corporate events Financial corporate events**
Payment of bond interest coupon in euros Orders purged
Payment of bond interest coupon quoted as a clean percentage No impact
Final bond redemption Orders purged
Capital amortisation Orders purged
Drawing Orders purged
Final bond redemption The liquidation of a debt by retiring an outstanding obligation, usually at the issuer's option and prior to a stated final maturity.
Capital amortisation Repayment of the loan. Main repayment modes: bullet repayment, repayment in tranches (or series), also called constant amortisation, and repayment in equal instalments.
Drawing The loan is repaid partially every year by means of a draw for redemption of a number of security numbers.
Coupon payment A remuneration of the lender, which is paid regularly throughout the life of the bond.

**Schedule for the coupon payment of the bonds quoted in %


Cum (With Coupon) Date

A bond trades cum-coupon up until the ex date. On or after this point, the bond trades without its coupon rights.

Ex (Coupon) Date

Determines which party, from a trading perspective, receives the next coupon payment. Transactions settled on or after the ex-dividend date are deemed to be "ex-coupon" and therefore the buyer does not receive the next coupon.

Record Date

Determines, from a custodial perspective, which party is eligible to receive the next coupon payment. It is usually the market day preceding the coupon due date. Ownership of the next coupon payment is determined by who holds the securities after the close of business on the record date.

Payment Date

The date on which coupons are scheduled to be paid. This day is used to calculate the accrued interest due to the holder. If the nominal payment date falls on a non-market day, the actual coupon payment is usually on the next market day.

As a result of this schedule, the trading of debt instruments is not permitted during the three business days before their maturity.