In June, the range of securities on the MICEX was significantly replenished. New OFZs appeared, bonds of Kazakhstan and organizations from Russia, new shares of foreign companies and exchange-traded funds.
Part of the new bonds we do not mention. These are papers for trained financiers, bonds maturing 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.
Worth reminding, that from 2021 all bonds are withheld from coupons tax at a rate of thirteen percent for residents of Russia 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 coupon size and efficiency before tax payments. If you are a resident of Russia and do not apply a type B deduction for IIS, the coupon size for you will be thirteen percent less, in other words, 0.87 of what is indicated in the digest. If you are a non-resident - thirty percent less, or 0,7 from designated. Consequently, efficiency will be lower by about the same amount.
Bonds sorted by type: initially OFZ and bonds of Kazakhstan, later corporate. Inside types - by maturity: small to long. Stocks and exchange-traded funds - at the end of the material.
This is a review, but not an investment recommendation. All decisions you make without the help of others.
And where are these papers in Tinkoff investments?
Readers ask in the comments, why almost all new securities cannot be purchased at Tinkoff Investments. The bottom line is, that new papers get there later: first of all there are those, for which measured highest liquidity. If the paper from the review is already available in Tinkoff Attachments, we will put a link to it in the fields.
However, the digest Т—Ж is not tied to Tinkoff investments: we study the news of the exchange in general and cannot ignore those readers, who uses the services of other brokers.
State bond bond
OFZ-PD 26237
Issuer — Ministry of Finance of Russia.
Repayment — 14 Martha 2029 of the year.
Nominal — 1000 R.
Coupon rate — 6,7 % per annum. There will be 16 coupon periods, 1-The first coupon will be paid on September 22, 2021 in the amount of 17.99 R, then everyone will pay 182 days in the amount of 33.41 R.
2 July this bond was traded on average for 98,25 % denomination. The current efficiency at this cost is 6.82 %, ordinary efficiency to maturity — 7,03%, effective efficiency to maturity - 7,12 % per annum.
State bond bond
OFZ-PD 26239
Issuer — Ministry of Finance of Russia.
Repayment — 23 July 2031.
Nominal — 1000 R.
Coupon rate — 6,9 % per annum. There will be 20 coupon periods, 1-The first coupon will be paid on February 2, 2022 in the amount of 43.67 R, further they will pay 34.41 R for all 182 days.
2 July this bond was traded on average for 98,16 % denomination. The current efficiency at this cost is 7,03%, ordinary efficiency to maturity — 7,19 %, effective efficiency to maturity - 7,29 % per annum.
Municipal bond
The Republic of Kazakhstan 05
Issuer — Ministry of Finance of the Republic of Kazakhstan.
Repayment — 22 June 2026.
Nominal — 1000 R.
Coupon rate — 7,48 % per annum. There will be 10 coupon periods of 182 days each, 1-The first coupon will be paid on December 27, 2021 in the amount of 37.3 R.
2 July, this bond was traded at an average of 100.09% of the face value. The current efficiency at this cost is 7.47 %, ordinary efficiency to maturity — 7,45 %, effective efficiency to maturity - 7,6 % per annum.
Municipal bond
The Republic of Kazakhstan 08
Issuer — Ministry of Finance of the Republic of Kazakhstan.
Repayment — 19 June 2028 of the year.
Nominal — 1000 R.
Coupon rate — 7,69% per annum. There will be 14 coupon periods of 182 days each, the first coupon will be paid on December 27, 2021 in the amount of 38.34 R.
2 July, this bond was traded at an average of 100.5% of the face value. The current yield at this price is 7.65%, simple yield to maturity — 7,57%, effective yield to maturity — 7.74% per annum.
Government bond
The Republic of Kazakhstan 12
Issuer — Ministry of Finance of the Republic of Kazakhstan.
Repayment — 16 June 2031 of the year.
Nominal — 1000 R.
Coupon rate — 7.92% per annum. There will be 20 coupon periods of 182 days each, the first coupon will be paid on December 27, 2021 in the amount of 39.49 R.
2 July this bond was traded on average for 100,08% denomination. The current yield at this price is 7.91%, simple yield to maturity — 7,9%, effective yield to maturity — 8.06% per annum.
Government bond
The Republic of Kazakhstan 13
Issuer — Ministry of Finance of the Republic of Kazakhstan.
Repayment — 16 June 2031 of the year.
Nominal — 1000 R.
Coupon rate — 7.92% per annum. There will be 20 coupon periods of 182 days each, the first coupon will be paid on December 27, 2021 in the amount of 39,49 R.
2 July, this bond was traded at an average of 100.07% of the face value. The current yield at this price is 7.91%, simple yield to maturity — 7,9%, effective yield to maturity — 8.07% per annum.
Corporate bond
VTB B-1-228
Issuer — PJSC VTB Bank.
Repayment — 20 June 2022 of the year.
Nominal — 1000 R.
Coupon rate — 6% per annum. There will be 4 coupon periods of 91 days each. The first will end on September 20, 2021, will pay 14.96 R.
2 July this bond was traded on average for 100,22% denomination. The current yield at this price is 5.99%, simple yield to maturity — 5,75%, effective yield to maturity — 5.89% per annum.
Corporate bond
S-Innovation BO-P02
Issuer — S-Innovations LLC.
Repayment — 7 June 2023.
Nominal — 1000 R.
Coupon rate — 11% per annum. There will be 8 coupon periods of 91 days each, the first coupon will be paid on September 8, 2021 in the amount of 27.42 R.
2 July, this bond was on average traded at 100.87% of par. The current yield at this price is 10.91%, simple yield to maturity — 10,39%, effective yield to maturity — 10.91% per annum.
Corporate bond
Rosselkhozbank BO-06-002R
Issuer — JSC Rosselkhozbank.
Repayment — 16 June 2023 of the year.
Nominal — 1000 R.
Coupon rate — 5,5% per annum. There will be 24 coupon periods of 31 days each. The first coupon was paid on July 3, 2021 in the amount of 4.67 R, and the next one will be August 3rd.
2 July this bond was traded on average at 98.2% of par. The current yield at this price is 5.6%, simple yield to maturity — 6,51%, effective yield to maturity — 6.68% per annum.
Corporate bond
Sberbank 001Р-SBER22
Issuer — PJSC "Sberbank".
Repayment — 19 June 2023 of the year.
Nominal — 1000 R.
Coupon rate — 6,9% per annum. There will be 4 coupon periods of 182 days each, the first coupon will be paid on December 20, 2021 in the amount of 34.41 R.
2 July this bond was traded on average for 100% denomination. The current yield at this price is 6,9%, simple yield to maturity — 6,89%, effective yield to maturity — 7.02% per annum.
Corporate bond
Magnet BO 002R-04
Issuer — PJSC "Magnit".
Repayment — 29 May 2024 of the year.
Nominal — 1000 R.
Coupon rate — 7,05% per annum. There will be 6 coupon periods of 182 days each. The first payment will take place on December 1, 2021 in the amount of RUB 35.15.
2 July, this bond was traded at an average of 99.04% of the face value. The current yield at this price is 7,12%, simple yield to maturity — 7,41%, effective yield to maturity - 7,56% per annum.
Corporate bond
Magnet BO 001R-05
Issuer — PJSC "Magnit".
Repayment — 29 May 2024 of the year.
Nominal — 1000 R.
Coupon rate — 7,05% per annum. There will be 6 coupon periods of 182 days each. The first payment will take place on December 1, 2021 in the amount of RUB 35.15.
2 July this bond was traded on average for 100% denomination. The current yield at this price is 7,05%, simple yield to maturity — 7,01%, effective yield to maturity — 7.17% per annum.
Corporate bond
RESO-Leasing BO-P-14
Issuer — RESO-Leasing LLC.
Repayment — 2 June 2024 of the year.
Nominal — 1000 R.
Coupon rate — 7.5% per annum. There will be 36 coupon periods of 30 days each. The first payment is scheduled for July 18, 2021 and is equal to 6.16 R.
2 July, this bond traded at an average of 100% of par. The current yield at this price is 7.5%, simple yield to maturity — 7,47%, effective yield to maturity — 7.76% per annum.
Corporate bond
Alfa-Bank B2R12
Issuer — Alfa-Bank JSC.
Repayment — 4 June 2024 of the year.
Nominal — 1000 R.
Coupon rate — 7.15% per annum. There will be 6 coupon periods of 183 days each, the first coupon will be paid on December 2, 2021 in the amount of 35.85 R.
2 July, this bond was traded on average at 99.17% of par. The current yield at this price is 7.21%, simple yield to maturity — 7,45%, effective yield to maturity — 7.61% per annum.
Corporate bond
Biforcom Only BO-P01
Issuer — Biforcom Technologies LLC.
Repayment — 4 June 2024 of the year.
Nominal — 1000 R.
Coupon rate — 11,25% per annum. There will be 12 coupon periods of 91 days each, the first coupon will be paid on September 7, 2021 in the amount of 28.05 R. In June 2023 the 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 9 June 2023 of the year, applications for participation in it must be submitted from 31 May to 6 June 2023. Participation in the offer may be paid, therefore, it is worth checking the tariffs of your broker in advance.
2 July, this bond was traded at an average of 100.41% of the face value. The current yield at this price is 11.2%, simple yield to the offer — 10,9%, effective yield to offer - 11.47% per annum. Yield to maturity cannot be calculated, since the size of not all coupons is known.
Corporate bond
Harvest BO-02
Issuer — Harvest LLC.
Repayment — 4 June 2024 of the year.
Nominal — 1000 R.
Coupon rate — 11,5% per annum. There will be 12 coupon periods of 91 days each. The first payment is scheduled for September 7, 2021, its size is 28,67 R.
2 July this bond was traded on average at 99.97% of par. The current yield at this price is 11.5%, simple yield to maturity — 11,43%, effective yield to maturity — 12.02% per annum.
Corporate bond
Promsvyazbank 003Р-05
Issuer — PJSC Promsvyazbank.
Repayment — 7 June 2024 of the year.
Nominal — 1000 R.
Coupon rate — 7.6% per annum. There will be 6 coupon periods of 182 days each. The first payment will take place on December 10, 2021, its size is 37,9 R.
2 July, this bond traded at an average of 99.5% of par. The current yield at this price is 7.64%, simple yield to maturity — 7,78%, effective yield to maturity — 7.94% per annum.
Corporate bond
Tatneftekhim 02
Issuer — Tatneftekhim LLC.
Repayment — 8 June 2024.
Nominal — 1000 R.
Coupon rate — 11% per annum. There will be 18 coupon periods of 60 days each. The first payment is scheduled for August 23, 2021, its size is 18,08 R.
Depreciation. The bond is redeemed gradually: in April 2024 years together with the coupon will be paid 50% denomination, and the remaining 50% will be paid off in June 2024 of the year. After the amortization payment, the coupon size in rubles will decrease.
2 July, this bond was traded at an average of 101.14% of the face value. The current yield at this price is 10.88%, simple yield to maturity — 10,16%, effective yield to maturity — 11.01% per annum.
Corporate bond
Restaurant 001P-01
Issuer — LLC "Restor".
Repayment — 13 June 2024 of the year.
Nominal — 1000 R.
Coupon rate — 8,1% per annum. There will be 12 coupon periods of 91 days each. The first payment is scheduled for September 16, 2021, its size is 20,19 R.
2 July this bond was traded on average for 100,19% denomination. The current yield at this price is 8,08%, simple yield to maturity — 7,99%, effective yield to maturity — 8.27% per annum.
Corporate bond
Specinvestlizing 001R-03
Issuer - Special Investment Leasing LLC.
Repayment — 17 May 2025.
Nominal — 1000 R.
Coupon rate — 10% per annum. There will be 48 coupon periods of 30 days each. The first payment is scheduled for July 7, 2021, its size is 8,22 R.
Depreciation. The bond is redeemed gradually: starting from September 2021, once every 4 months, along with coupons, they will pay 6.25% of the face value. After depreciation payments, the coupon size in rubles will decrease.
2 July, this bond traded on average for 99.67% of the face value. The current yield at this price is 10.03%, simple yield to maturity — 5,3%, effective yield to maturity — 10.68% per annum.
Corporate bond
Vita Line 001R-03
Issuer – Vita Line LLC.
Repayment — 29 May 2025.
Nominal — 1000 R.
Coupon rate — 10% per annum. There will be 16 coupon periods of 91 days each. The first payment is scheduled for September 2, 2021, its size is 24,93 R. In May 2024, the 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 scheduled for June 6, 2024, applications for participation in it must be submitted from 24 until May 30, 2024. Participation in the offer may be paid, therefore, it is worth checking the tariffs of your broker in advance.
2 July this bond was on average traded at 100.34% of par. The current yield at this price is 9.96%, simple yield to the offer — 9,77%, effective yield to offer — 10.23% per annum. Yield to maturity cannot be calculated, since the size of not all coupons is known.
Corporate bond
Energotechservice 001R-04
Issuer – Energotechservice LLC.
Repayment — 5 June 2025.
Nominal — 1000 R.
Coupon rate — 9,9% per annum. There will be 16 coupon periods of 91 days each. The first payment is scheduled for 9 September 2021 of the year, its size is 24,68 R.
Depreciation. The bond is redeemed gradually: starting from September 2022, together with coupons, 6.7% of the face value will be paid. The last 26.3% will be repaid in June 2025. After depreciation payments, the coupon size in rubles will decrease.
2 July this bond was traded on average for 100,35% denomination. The current yield at this price is 9,87%, simple yield to maturity — 6,97%, effective yield to maturity - 10,11% per annum.
Corporate bond
Energonika 001R-02
Issuer – Energonika LLC.
Repayment — 26 May 2026.
Nominal — 1000 R.
Coupon rate — 13% per annum. There will be 20 coupon periods of 91 days each. The first payment is scheduled for August 31, 2021, its size is 32,41 R.
Depreciation. The bond is redeemed gradually: in May 2022, together with coupons, 10% of the face value will be paid, in May 2023, 2024 and 2025 - by 25%, and in May 2026 - the remaining 15%. After depreciation payments, the coupon size in rubles will decrease.
2 July, this bond was traded on average at 101.49% of par. The current yield at this price is 12.81%, simple yield to maturity — 7,48%, effective yield to maturity — 12.97% per annum.
Corporate bond
HCF Bank BO-04
Issuer — HKF Bank LLC.
Repayment — 1 June 2026 of the year.
Nominal — 1000 R.
Coupon rate — 8% per annum. There will be 20 coupon periods of 91 days each. The first payment is scheduled for September 6, 2021, its size is 19,95 R.
2 July this bond was traded on average for 100,01% denomination. The current yield at this price is 8%, simple yield to maturity — 7,96%, effective yield to maturity — 8.24% per annum.
Corporate bond
Bank FK Otkritie BO-P08
Issuer — PJSC Bank FC Otkritie.
Repayment — 4 June 2026 of the year.
Nominal — 1000 R.
Coupon rate — 7,3% per annum. There will be 10 coupon periods of 182 days each. The first payment is scheduled for December 9, 2021, its size is 36,4 R. In June 2023 the 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 scheduled for June 14, 2023, applications for participation in it must be submitted from 2 until June 8, 2023. Participation in the offer may be paid, therefore, it is worth checking the tariffs of your broker in advance.
2 July, this bond traded at an average of 100% of par. The current yield at this price is 7,3%, simple yield to the offer — 7,29%, effective yield to offer — 7.43% per annum. Yield to maturity cannot be calculated, since the size of not all coupons is known.
Corporate bond
Transmashholding PBO-06
Issuer — JSC "Transmashholding".
Repayment — 5 June 2026 of the year.
Nominal — 1000 R.
Coupon rate — 8,05% per annum. There will be 10 coupon periods of 182 days each. The first payment is scheduled for December 10, 2021, its size is 40,14 R.
2 July this bond was traded on average for 100,66% denomination. The current yield at this price is 8%, simple yield to maturity — 7,83%, effective yield to maturity — 8.04% per annum.
Corporate bond
Aeroflot P01-BO-01
Issuer — PJSC Aeroflot.
Repayment — 11 June 2026.
Nominal — 1000 R.
Coupon rate — 8.35% per annum. There will be 20 coupon periods of 91 days each. The first payment is scheduled for September 16, 2021, its size is 20,82 R.
2 July this bond was traded on average for 101,05% denomination. The current yield at this price is 8.26%, simple yield to maturity — 8,03%, effective yield to maturity — 8.34% per annum.
Corporate bond
Sberbank 001Р-SBER27
Issuer — PJSC "Sberbank".
Repayment — 15 June 2026 of the year.
Nominal — 1000 R.
Coupon rate — 7,4% per annum. There will be 10 coupon periods of 182 days each. The first payment is scheduled for December 20, 2021, its size is 36,9 R.
2 July this bond was traded on average for 100,14% denomination. The current yield at this price is 7.39%, simple yield to maturity — 7,35%, effective yield to maturity — 7.5% per annum.
Corporate bond
Atomenergoprom 001R-01
Issuer — JSC Atomenergoprom.
Repayment — June 19, 2026.
Nominal — 1000 R.
Coupon rate — 7.5% per annum. There will be 10 coupon periods of 182 days each. The first payment is scheduled for December 24, 2021, its size is 37,4 R.
2 July, this bond was traded at an average of 100.05% of the face value. The current yield at this price is 7.5%, simple yield to maturity — 7,48%, effective yield to maturity — 7.63% per annum.
Promotions
Foreign companies
1 June, shares and depositary receipts began to be traded on the Moscow Exchange 20 foreign companies. Here is their list:
- Bank of America.
- BlackRock.
- CF Industries Holdings.
- eHealth.
- G1 Therapeutics.
- Incyte.
- MicroStrategy.
- Momo.
- Morgan Stanley.
- Palantir Technologies.
- Southern Copper.
- Splunk.
- Square.
- The Goldman Sachs Group.
- The Mosaic Company.
- ViacomCBS.
- Virgin Galactic Holdings.
- Western Digital.
- Zoom Video Communications.
- Zynerba Pharmaceuticals.
Trades go for rubles, dividends are paid in dollars. So that the tax on dividends is 10 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 - US Treasury bonds with inflation protection and ruble hedge (FXIP)
This ETF FinEx company consists of TIPS - US Treasury debt securities, protected from inflation. The nominal value of such bonds is indexed for inflation., also have coupons, the rate of which is a fixed percentage of the changing face value. Received coupons are reinvested.
The fund is very similar to the FXTP launched in May, but there is an important difference: FXIP uses ruble hedging. Because of this, the price of FXIP does not depend on the dollar exchange rate..
Overall ETF Spending Rate - 0,35% 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 FXIP.
Trades go for rubles. 2 July alone stock FXIP cost about 102 R.
Exchange traded fund
Alpha — Medicine (AKMD)
This exchange-traded mutual fund allows you to invest in shares of foreign companies from such industries, as pharmaceuticals, biotechnology and medicine. Inside - American Funds XLV, XPH, XBI, ARKG in proportions 30/30/30/10. Received dividends are reinvested.
The total expenditure level of this BPIF is 1,61% per year of the fund's net asset value. Expenses are gradually deducted from the fund's assets and thus included in the exchange price of AKMD. Funds inside AKMD also have a commission, its weighted average - 0,32% in year.
Bidding goes for rubles and dollars. 2 July one share of AKMD cost about 74 R, or about 1,012 $.
Exchange traded fund
Dokhod — Russian Growth Stock Index (GROD)
This exchange-traded mutual fund tracks the IRGROTR index, where do the shares of Russian companies with growing revenues go?, profit and quotes and low volatility. The fund can be considered multifactorial. Received dividends are reinvested.
The total expenditure level of this BPIF is 0,99% 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 GROD exchange price.
Trades go for rubles. 2 July, one GROD share cost about 1002 R.
Exchange traded fund
Sber - Conservative (SBCS)
This is an exchange-traded money market mutual fund, low risk and low potential return. The income received is reinvested.
The total expenditure level of this BPIF is 1,07% 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 SBCS.
Trades go for rubles. 2 July, one share of SBCS cost about 10,1 R.
Exchange traded fund
Sber - Cautious (SBRS)
This is a slightly more risky and potentially more profitable mutual fund.. In him 10% hold shares of Russian companies, 30% - ruble-denominated corporate bonds with a duration of 1-3 years and 60% - money market instruments. The income received is reinvested.
The total expenditure level of this BPIF is 1,17% per year of the fund's net asset value. Expenses are gradually written off from the assets of the fund and are thus included in the exchange price of SBRS.
Trades go for rubles. 2 July one share of SBRS cost about 10,1 R.
Exchange traded fund
Sber - Weighted (SBWS)
More risky and potentially more profitable exchange-traded mutual funds, than the previous. 40% of it is occupied by shares of Russian companies, 30% - ruble-denominated corporate bonds with a duration of 1-3 years and 30% - money market instruments. The income received is reinvested.
The total expenditure level of this BPIF is 1,27% per year of the fund's net asset value. Expenses are gradually deducted from the fund's assets and thus included in the exchange price of SBWS.
Trades go for rubles. 2 July, one share of SBWS cost about 10,1 R.
Exchange traded fund
Sber - Progressive (SBPS)
More risk for potentially higher returns. In the fund 30% allotted for shares of US companies in the form of ETF SPY, 60% — under the shares of Russian companies, 10% — for money market instruments. The income received is reinvested.
Overall spending level - 1,37% 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 SBPS. SPY fund spending level - more 0,09% in year.
Trades go for rubles. 2 July, one share of SBPS cost about 10,1 R.
Exchange traded fund
Sber - Dynamic (SBDS)
The most risky and potentially profitable exchange-traded mutual fund launched by Sberbank in June. 40% allotted for shares of US companies in the form of ETF SPY, and 60% — under the shares of Russian companies. The income received is reinvested.
The total expenditure level of this BPIF is 1,57% per year of the fund's net asset value. Expenses are gradually deducted from the fund's assets and thus included in the exchange price of SBDS. SPY fund spending level - more 0,09% in year.
Trades go for rubles. 2 July, one share of SBDS cost about 10,3 R.
Exchange traded fund
Finam - Dividend aristocrats of the Russian Federation (FMRU)
This exchange-traded mutual fund tracks the index of Russian dividend aristocrats - companies with high dividend yields. Received dividends are reinvested.
The total expenditure level of this BPIF is 1,05% per year of the fund's net asset value. Expenses are gradually deducted from the fund's assets and thus included in the exchange price of FMRU.
Trades go for rubles. 2 July one share of FMRU cost about 9,8 R.
