New securities on the Moscow Exchange for August 2021

At the end of the summer, new bonds of an organization from Russia and shares of foreign companies appeared on the MICEX. In addition, several exchange-traded funds began to trade..

Part of the new bonds we do not mention. These are papers for trained financiers, bonds maturing in more than 10 years from the date of publication of this material, extremely short papers, for example one-day, investment bonds with performance pegged to some assets and securities, who at the time of preparing the digest had obvious difficulties with solvency.

Please note, that at the moment not all bonds are available to anyone who wants - at least, without the status of a professional financier:

1. To 1 October 2021 bonds of Russian issuers with a credit rating of ruBBB or lower on the scale of "Professional RA" or BBB(RU) on the ACRA scale, also bonds of foreign issuers rated B and below from S&P, Moody's or Fitch are available to financiers with experience in dealing with these securities - in other words with the same ISIN - up to 1 January 2020 years or with the status of a professional financier.
2. With 1 October 2021 year it will change: bonds with a rating below AAA will be available only after the test or with the status of a professional financier, and the experience of agreements will not matter.
3. None of this applies to bonds., registered before 11 June 2021 of the year.

Worth reminding, what with 2021 year from the coupons of all bonds withheld tax at a rate of thirteen percent for Russian tax residents and thirty percent for non-residents. This can really be avoided, if you are a resident of Russia and you have IIS, at the closing of which you will apply the type B deduction.

We write the coupon size and the yield before taxes. If you are a resident of the Russian Federation and do not apply a type B deduction for IIS, the coupon size for you will be on 13% less, i.e 0,87 from the one specified in the digest. If you are a non-resident - on 30% less, or 0,7 from the specified. Respectively, profitability will be lower by about the same amount.

Bonds sorted by maturity date: from short to long. Stocks and exchange-traded funds - at the end of the material.

This is a review, not an investment recommendation. All decisions are yours to make.

Corporate bond
VTB B-1-229

Issuer — PJSC VTB Bank.

Repayment — 1 august 2022 of the year.

Nominal — 1000 R.

Coupon rate — 6,65% per annum. Will be 4 coupon period for 91 day every day. The first one will end 1 november 2021 of the year, will pay 16,58 R.

1 September this bond was traded on average for 100,22% denomination. The current yield at this price is 6,62%, simple yield to maturity — 6,34%, effective yield to maturity - 6,53% per annum.

Corporate bond
Sberbank 001Р-SBER32

Issuer — PJSC "Sberbank".

Repayment — 4 august 2023 of the year.

Nominal — 1000 R.

Coupon rate — 7,3% per annum. Will be 4 coupon period for 182 days every day. The first one will end 4 February 2022 of the year, will pay 36,4 R.

1 September this bond was traded on average for 100,03% denomination. The current yield at this price is 7,3%, simple yield to maturity — 7,23%, effective yield to maturity - 7,4% per annum.

Corporate bond
Russian Agricultural Bank BO-10-002R

Issuer — JSC Rosselkhozbank.

Repayment — 1 august 2024 of the year.

Nominal — 1000 R.

Coupon rate — 7,6% per annum. Will be 6 coupon periods for 182 days every day. The first one will end 3 February 2022 of the year, will pay 37,9 R.

1 September this bond was traded on average for 100,2% denomination. The current yield at this price is 7,58%, simple yield to maturity — 7,47%, effective yield to maturity - 7,65% per annum.

Corporate bond
MV Finance 001R-02

Issuer — MV Finance LLC.

Repayment — 7 august 2024 of the year.

Nominal — 1000 R.

Coupon rate — 8,1% per annum. Will be 12 coupon periods for 91 day every day. The first one will end 10 november 2021 of the year, will pay 20,19 R.

1 September this bond was traded on average for 99,99% denomination. The current yield at this price is 8,1%, simple yield to maturity — 8,06%, effective yield to maturity - 8,34% per annum.

Corporate bond
Ji-group 002R-01

Issuer — JSC "G-group".

Repayment — 12 august 2024 of the year.

Nominal — 1000 R.

Coupon rate — 10,6% per annum. Will be 12 coupon periods for 91 day every day. The first one will end 15 november 2021 of the year, will pay 26,43 R.

Depreciation. The bond will be redeemed gradually: in February 2023 years together with the next coupon will pay 10% denomination, further with each coupon will pay 15% denomination. After each depreciation payment, the coupon amount in rubles will decrease.

1 September this bond was traded on average for 100,8% denomination. The current yield at this price is 10,52%, simple yield to maturity — 7,66%, effective yield to maturity - 10,57% per annum.

Corporate bond
Miratorg Finance 001Р-01

Issuer — OOO Miratorg Finance.

Repayment — 15 august 2024 of the year.

Nominal — 1000 R.

Coupon rate — 8,3% per annum. Will be 6 coupon periods for 182 days every day. The first one will end 17 February 2022 of the year, will pay 41,39 R.

1 September this bond was traded on average for 100,3% denomination. The current yield at this price is 8,28%, simple yield to maturity — 8,14%, effective yield to maturity - 8,34% per annum.

Corporate bond
GK Aircraft BO-P10

Issuer - PAO «GK„ Samolet “».

Repayment — 21 august 2024 of the year.

Nominal — 1000 R.

Coupon rate — 9,15% per annum. Will be 12 coupon periods for 91 day every day. The first one will end 24 november 2021 of the year, will pay 22,81 R.

1 September this bond was traded on average for 100,46% denomination. The current yield at this price is 9,11%, simple yield to maturity — 8,93%, effective yield to maturity - 9,27% per annum.

Corporate bond
Baltic Leasing BO-P04

Issuer — Baltic Leasing LLC.

Repayment — 26 august 2024 of the year.

Nominal — 1000 R.

Coupon rate — 8,4% per annum. Will be 12 coupon periods for 91 day every day. The first coupon will be paid 29 november 2021 years in the amount 20,94 R.

Depreciation. The bond will be redeemed gradually: since May 2023 years, together with coupons, will pay 16,5% denomination. The last 17,5% face value will be paid in August 2024 of the year. After each depreciation payment, the coupon amount in rubles will decrease.

1 September this bond was traded on average for 100,11% denomination. The current yield at this price is 8,39%, simple yield to maturity — 6,61%, effective yield to maturity - 8,6% per annum.

Corporate bond
НПО Химтэк 001Р-01

Issuer — NPO Himtek LLC.

Repayment — 31 July 2025 of the year.

Nominal — 1000 R.

Coupon rate — 13% per annum. Will be 16 coupon periods for 91 day every day. The first payment will take place 4 november 2021 years in the amount 32,41 R.

Depreciation. The bond will be redeemed gradually: in August 2023 and February 2024 together with coupons will pay out on 10% denomination, in August 2024 years will pay 20% denomination, and the remaining 60% will be paid off in July 2025 of the year. After each depreciation payment, the coupon amount in rubles will decrease.

1 September this bond was traded on average for 101,77% denomination. The current yield at this price is 12,77%, simple yield to maturity — 10,43%, effective yield to maturity - 12,91% per annum.

Corporate bond
Sberbank 001Р-SBER29

Issuer — PJSC "Sberbank".

Repayment — 31 July 2026 of the year.

Nominal — 1000 R.

Coupon rate — 7,43% per annum. Will be 10 coupon periods for 182 days every day. The first one will end 4 February 2022 of the year, will pay 37,05 R.

1 September this bond was traded on average for 100,31% denomination. The current yield at this price is 7,4%, simple yield to maturity — 7,3%, effective yield to maturity - 7,48% per annum.

Corporate bond
Europlan 001R-03

Issuer — PAO "LK "Europlan"".

Repayment — 8 august 2031 of the year.

Nominal — 1000 R.

Coupon rate — 8,55% per annum. Will be 20 coupon periods for 182 days every day. The first one will end 18 February 2022 of the year, will pay 42,63 R. In February 2025 year coupon rate and, respectively, coupon size may change, so be careful.

Offer. If you don't like the new coupon, it will be possible to ask the issuer to redeem bonds ahead of schedule, using the offer. She is assigned to 19 February 2025 of the year, applications for participation in it must be submitted from 10 on 14 February 2025 of the year. Participation in the offer may be paid, therefore, it is worth checking the tariffs of your broker in advance.

1 September this bond was traded on average for 99,82% denomination. The current yield at this price is 8,57%, simple yield to the offer — 8,59%, effective yield to offer - 8,79% per annum. Yield to maturity cannot be calculated, since the size of not all coupons is known.

Corporate bond
TransFin-M 001P-07

Issuer — PJSC "Transfin-M".

Repayment — 18 august 2031 of the year.

Nominal — 1000 R.

Coupon rate — 9,8% per annum. Will be 40 coupon periods for 91 day every day, the first coupon will be paid 29 november 2021 years in the amount 24,43 R. In August 2024 year coupon rate and, respectively, coupon size may change, so be careful.

Offer. If you don't like the new coupon, it will be possible to ask the issuer to redeem bonds ahead of schedule, using the offer. She is assigned to 29 august 2024 of the year, applications for participation in it must be submitted from 20 on 26 august 2024 of the year. Participation in the offer may be paid, therefore, it is worth checking the tariffs of your broker in advance.

1 September this bond was traded on average for 100,17% denomination. The current yield at this price is 9,78%, simple yield to the offer — 9,72%, effective yield to offer - 10,09% per annum. Yield to maturity cannot be calculated, since the size of not all coupons is known.

Promotions
Foreign companies

2 August shares and depositary receipts began to be traded on the Moscow Exchange 31 foreign company. Here is their list:

1. Alcoa.
2. AMC Entertainment Holdings.
3. Amphenol.
4. C. H. Robinson Worldwide.
5. Campbell Soup.
6. Charter Communications.
7. Clover Health Investments.
8. CME Group.
9. Coinbase Global.
10. ContextLogic.
11. Copart.
12. Emerson Electric.
13. Fox.
14. Hershey.
15. Humana.
16. Li Auto.
17. Lincoln National.
18. NetApp.
19. NIO.
20. Northrop Grumman.
21. PACCAR.
22. Paychex.
23. Phillips 66.
24. Qorvo.
25. Ralph Lauren.
26. S&P Global.
27. Snap.
28. Stryker.
29. TAL Education Group.
30. Textron.
31. Vipshop.

Trades go for rubles, dividends are paid in dollars. So that the tax on dividends is 10 a plus 3%, but not 30%, you must sign the W-8BEN form. How to do it, will be advised by the support staff of your broker.

Exchange traded fund
FinEx — Bonds with ruble dividends (FXRD)

This ETF от FinEx, like the previously launched FXFA fund, consists of high-yielding dollar bonds of "fallen angels" - companies, who have a downgraded credit rating. But there are two important differences from FXFA.

Firstly, ruble hedging is used, which turns the fund into a ruble asset and at the same time gives it additional ruble yield due to the difference in interest rates in Russia and the USA.

Secondly, The fund pays dividends twice a year. Their size is calculated based on the average level of the key rate of the Central Bank of the Russian Federation for six months before the announcement of dividends, what is added 1,5 percentage point.

Overall ETF Spending Rate - 0,7% per year of the fund's net asset value. Expenses are gradually deducted from the fund's assets and are thus included in the exchange price of FXRD.

Trades go for rubles. 1 September one stock FXRD cost about 103 R.

Exchange traded fund
Aton — High Yield Russian Bonds (AMHR)

This exchange-traded mutual fund from Aton Management consists of high-yield bonds of Russian companies. Detailed information about the composition is not yet available.. Received coupons are reinvested.

The total expenditure level of this BPIF is up to 0,95% per year of the fund's net asset value. Expenses are gradually deducted from the assets of the fund and are thus included in the exchange price of AMRH.

Trades go for rubles. 1 September, one share of AMRH cost about 100,3 R.

Exchange traded fund
Raiffeisen - Money Market Fund (RCMM)

This exchange-traded mutual fund from Raiffeisen Capital manages the RUSFAR money market indicator and is similar in principle to the VTBM fund. The income received is reinvested.

The total expenditure level of this BPIF is up to 0,7% per year of the fund's net asset value. Expenses are gradually deducted from the fund's assets and are thus taken into account in the exchange price of RCMM.

Trades go for rubles. 1 September, one share of RCMM cost about 100,3 R.