In September, new bonds of Russian companies appeared on the Moscow Exchange - both large, and small - and immediately 77 shares and depositary receipts of foreign companies. Several exchange-traded mutual funds also started trading, consisting of stocks and bonds.
Part of the new bonds we do not mention. These are securities for qualified investors., bonds maturing more than 10 years from the date of publication of this material, very short papers, e.g. one-day, investment bonds with yields pegged to some assets and securities, which at the time of preparing the digest had obvious problems with liquidity.
Please note, that now not all securities and derivatives are available to everyone. To access a number of assets, for example, bonds with a rating below AAA, need to take a test. It is not necessary, if before October 1, 2021 the investor had transactions with such assets or if there is a status of a qualified investor. Or you can agree to the risk notice and buy assets, but maximum for 100 000 P or one lot.
We remind, that from 2021 on coupons of any bonds are withheld tax at a rate of 13% for tax residents of the Russian Federation and 30% for non-residents. This can be avoided, if you are a resident of the Russian Federation 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 13% less, i.e 0,87 from the one specified in the digest. If you are a non-resident - 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-1-230
Issuer — PJSC VTB Bank.
Repayment — 19 September 2022.
Nominal — 1000 R.
Coupon rate — 6,9% per annum. There will be 4 coupon periods 91 day every day. The first will end on December 20, 2021, will pay 17,2 R.
1 October, this bond was traded at an average of 100.1% of the face value. The current yield at this price is 6.89%, simple yield to maturity — 6,75%, effective yield to maturity — 6.94% per annum.
Corporate bond
Promsvyazbank 003Р-06
Issuer — PJSC Promsvyazbank.
Repayment — 1 September 2023.
Nominal — 1000 R.
Coupon rate — 7,4% per annum. There will be 4 coupon periods of 182 days each. The first will end on March 4, 2022, will pay 36.9 R.
1 October, this bond was traded at an average of 101.55% of the face value. The current yield at this price is 7.36%, simple yield to maturity — 7,02%, effective yield to maturity — 7.2% per annum.
Corporate bond
Alfa-Bank B2R14
Issuer — Alfa-Bank JSC.
Repayment — 30 September 2023.
Nominal — 1000 R.
Coupon rate — 7,9% per annum. There will be 4 coupon periods of 182 days each. The first will end on March 30, 2022, will pay 39.61 R.
1 October, this bond was traded at an average of 100.5% of the face value. The current yield at this price is 7.86%, simple yield to maturity — 7,59%, effective yield to maturity — 7.76% per annum.
Corporate bond
Reinnolts 001R-01
Issuer — LLC "Reinnolts".
Repayment — 5 September 2024.
Nominal — 1000 R.
Coupon rate - 12.5% per annum. There will be 12 coupon periods of 91 days each. The first will end on December 9, 2021, will pay 31.16 R.
Depreciation. The bond will be redeemed gradually: in September 2022 and 2023, together with the next coupon, 20% of the face value will be paid, the remaining 60% of the face value will be paid in September 2024. After depreciation payments, the coupon size in rubles will decrease.
1 October, this bond was traded at an average of 100.66% of the face value. The current yield at this price is 12.42%, simple yield to maturity — 9,57%, effective yield to maturity — 12.71% per annum.
Corporate bond
Promsvyazbank 003Р-07
Issuer — PJSC Promsvyazbank.
Repayment - September 10, 2024.
Nominal — 1000 R.
Coupon rate — 8,15% per annum. There will be 6 coupon periods of 182 days each. The first one will end 15 March 2022, will pay 40.64 R.
1 October this bond was traded on average at 99.83% of par. The current yield at this price is 8.16%, simple yield to maturity — 8,18%, effective yield to maturity — 8.37% per annum.
Corporate bond
RN Bank BO-001R-09
Issuer — RN Bank JSC.
Repayment — 12 September 2024.
Nominal — 1000 R.
Coupon rate - 7.85% per annum. There will be 6 coupon periods of 183 days each. The first will end on March 12, 2022, will pay 39.36 R.
1 October, this bond traded at an average of 99.99% of par. The current yield at this price is 7.85%, simple yield to maturity — 7,81%, effective yield to maturity — 8% per annum.
Corporate bond
Interlizing 001R-02
Issuer — OOO "Interleasing".
Repayment — 24 September 2024.
Nominal — 1000 R.
Coupon rate — 9,9% per annum. There will be 12 coupon periods of 91 days each. The first will end on December 28, 2021, will pay 24,68 R.
Depreciation. The bond will be redeemed gradually: starting from June 2023, together with coupons, they will pay 16,5% denomination. The last 17.5% of the face value will be paid in September 2024. After each depreciation payment, the coupon amount in rubles will decrease.
1 October, this bond was traded at an average of 100.27% of the face value. The current yield at this price is 9.87%, simple yield to maturity — 7,72%, effective yield to maturity — 10.12% per annum.
Corporate bond
Expobank 001Р-01
Issuer — JSC "Expobank".
Repayment - September 24, 2024.
Nominal — 1000 R.
Coupon rate - 9% per annum. There will be 12 coupon periods of 91 days each. The first will end on December 28, 2021, will pay 22.44 R.
1 October, this bond was traded on average at 99.98% of par. The current yield at this price is 9%, simple yield to maturity — 8,99%, effective yield to maturity — 9.31% per annum.
Corporate bond
Aerofuels 002R-01
Issuer — Aerofuels JSC.
Repayment — 26 September 2024.
Nominal — 1000 R.
Coupon rate — 9,9% per annum. There will be 12 coupon periods of 91 days each. The first will end on December 30, 2021, will pay 24.68 R.
1 October this bond was traded on average at 100.33% of par. The current yield at this price is 9.87%, simple yield to maturity — 9,74%, effective yield to maturity — 10.12% per annum.
Corporate bond
SOPF Infrastructure bonds 01
Issuer - LLC "SOPF" Infrastructure bonds "".
Repayment - November 15, 2024.
Nominal — 1000 R.
Coupon rate — 8% per annum. There will be 6 coupon periods, the first will end on November 15, 2021 with payment 11,62 R, further payments will be made every six months for 39,67 or 40,33 R.
1 October, this bond was traded at an average of 100.03% of the face value. The current yield at this price is 8%, simple yield to maturity — 7,97%, effective yield to maturity — 8.15% per annum.
Corporate bond
Sberbank 001Р-SBERD1
Issuer — PJSC "Sberbank".
Repayment - February 28, 2025.
Nominal — 1000 R.
Coupon rate Missing, since this is a discount bond. Income is generated from, that the bond has been issued and is trading at a price below par, and redeemed at face value.
1 October, this bond was traded on average at 79.06% of par. At this price, the effective yield to maturity is 7.7% per annum.
Corporate bond
Europlan 001R-04
Issuer — PAO "LK "Europlan"".
Repayment — 25 March 2025.
Nominal — 1000 R.
Coupon rate — 8,8% per annum. Will be 14 coupon periods of 91 days each. The first will end on December 28, 2021, will pay 21.94 R.
Depreciation. The bond will be redeemed gradually: starting from December 2022, together with coupons, they will pay 10% of the face value. After each depreciation payment, the coupon amount in rubles will decrease.
1 October, this bond was on average traded at 100.41% of par. The current yield at this price is 8.76%, simple yield to maturity — 5,87%, effective yield to maturity — 8.81% per annum.
Corporate bond
Henderson B01
Issuer — OOO "Tami i ko".
Repayment — 25 March 2025.
Nominal — 1000 R.
Coupon rate - 10.5% per annum. There will be 14 coupon periods of 91 days each. The first will end on December 28, 2021, will pay 26,18 R.
Depreciation. The bond will be redeemed gradually: starting from December 2022, together with coupons, they will pay 5, then 7.5, then 15% of the nominal. After each depreciation payment, the coupon amount in rubles will decrease.
1 October this bond was traded on average at 99.96% of par. The current yield at this price is 10.5%, simple yield to maturity — 7,94%, effective yield to maturity — 10.93% per annum.
Corporate bond
RESO-Leasing BO-P-05
Issuer — RESO-Leasing LLC.
Repayment — 28 August 2025.
Nominal — 1000 R.
Coupon rate — 8,5% per annum. There will be 8 coupon periods of 182 days each. The first will end on March 3, 2022, will pay 42,38 R.
1 October, this bond traded on average for 99.31% of the face value. The current yield at this price is 8.56%, simple yield to maturity — 8,67%, effective yield to maturity — 8.89% per annum.
Corporate bond
First collection bureau 001Р-02
Issuer — NAO "PKB".
Repayment — 19 September 2025.
Nominal — 1000 R.
Coupon rate — 10,75% per annum. There will be 16 coupon periods of 91 days each. The first will end on December 24, 2021, will pay 26,8 R.
Depreciation. The bond will be redeemed gradually: starting from June 2023, together with coupons, 10% of the face value will be paid. After each depreciation payment, the coupon amount in rubles will decrease.
1 October, this bond traded at an average of 99.91% of par. The current yield at this price is 10.76%, simple yield to maturity — 7,72%, effective yield to maturity — 11.22% per annum.
Corporate bond
Region-Product 001R-02
Issuer — JSC "Region-Product".
Repayment - September 3, 2026.
Nominal — 1000 R.
Coupon rate — 10,75% per annum. There will be 20 coupon periods of 91 days each. The first will end on December 9, 2021, will pay 28.67 R.
Depreciation. The bond will be redeemed gradually: starting from December 2024, together with coupons, they will pay 12.5% of the face value. After each depreciation payment, the coupon amount in rubles will decrease.
1 October, this bond traded on average for 100% of the face value. The current yield at this price is 11.5%, simple yield to maturity — 9,39%, effective yield to maturity — 11.99% per annum.
Corporate bond
Russian Agricultural Bank BO-14-002R
Issuer — JSC Rosselkhozbank.
Repayment - September 3, 2026.
Nominal — 1000 R.
Coupon rate — 10,75% per annum. Will be 10 coupon periods of 182 days each. The first will end on March 10, 2022, will pay 38,89 R. In March 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 March 12, 2024, applications for participation in it must be submitted from 1 until March 7, 2024. Participation in the offer may be paid, therefore, it is worth checking the tariffs of your broker in advance.
1 October, this bond traded at an average of 99.64% of par. The current yield at this price is 7.82%, simple yield to the offer — 7,93%, effective yield to offer - 8.12% per annum. Yield to maturity cannot be calculated, since the size of not all coupons is known.
Corporate bond
Avtoban-Finance BO-P03
Issuer — JSC "Autoban-finance".
Repayment — 8 September 2026.
Nominal — 1000 R.
Coupon rate — 8,9% per annum. There will be 10 coupon periods of 182 days each. The first will end on March 15, 2022, will pay 44,38 R. In September 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 September 15, 2023, applications for participation in it must be submitted from 6 until September 12, 2023. Participation in the offer may be paid, therefore, it is worth checking the tariffs of your broker in advance.
1 October, this bond traded at an average of 99.99% of par. The current yield at this price is 8.9%, simple yield to the offer — 8,87%, effective yield to offer — 9.1% per annum. Yield to maturity cannot be calculated, since the size of not all coupons is known.
Corporate bond
Avtodor BO-004R-01
Issuer - State company "Russian Highways".
Repayment — 8 September 2026.
Nominal — 1000 R.
Coupon rate — 7,95% per annum. There will be 10 coupon periods of 182 days each. The first will end on March 15, 2022, will pay 39.64 R.
1 October, this bond was traded on average at 98.8% of par. The current yield at this price is 8.05%, simple yield to maturity — 8,26%, effective yield to maturity — 8.41% per annum.
Corporate bond
LSR BO 001R-07
Issuer — PAO "Gruppa LSR".
Repayment — 11 September 2026.
Nominal — 1000 R.
Coupon rate - 8.65% per annum. There will be 20 coupon periods for 91 day every day. The first will end on December 17, 2021, will pay 21.57 R.
Depreciation. The bond will be redeemed gradually: in September 2024, together with the coupon, 20% of the face value will be paid, in September 2025 and 2026 — by 40%. After each depreciation payment, the coupon amount in rubles will decrease.
1 October this bond was traded on average at 99.95% of par. The current yield at this price is 8.65%, simple yield to maturity — 7,24%, effective yield to maturity — 8.94% per annum.
Corporate bond
Leader-Invest BO-P03
Issuer — JSC "Leader-invest".
Repayment - September 15, 2026.
Nominal — 1000 R.
Coupon rate — 9,1% per annum. There will be 20 coupon periods of 91 days each. The first will end on December 21, 2021, will pay 22.69 R.
Depreciation. The bond will be redeemed gradually: starting from September 2024, together with coupons, they will pay 11% of the face value. The last 12% will be paid in September 2026.
1 October, this bond traded at an average of 99.74% of par. The current yield at this price is 9.12%, simple yield to maturity — 7,34%, effective yield to maturity — 9.49% per annum.
Corporate bond
Mail.ru Finance 001R-01
Issuer — Mail-ru finance LLC.
Repayment - September 15, 2026.
Nominal — 1000 R.
Coupon rate — 7,9% per annum. There will be 10 coupon periods of 182 days each. The first will end on March 22, 2022, will pay 39.39 R.
1 October, this bond traded at an average of 99.9% of par. The current yield at this price is 7.91%, simple yield to maturity — 7,9%, effective yield to maturity — 8.08% per annum.
Corporate bond
CBOM-26
Issuer — CBOM Finance (PAO «MKB»).
Repayment — 15 September 2026.
Nominal — 1000 $.
Coupon rate — 3,875% per annum. There will be 10 coupon periods of 182 days each. The first will end on March 21, 2022, will pay 19.38 $.
1 October, this bond traded at an average of 99.5% of par. The current yield at this price is 3.89%, simple yield to maturity — 3,93%, effective yield to maturity — 3.97% per annum.
Corporate bond
ISK Petroengineering 001R-01
Issuer — ISK Petroengineering LLC.
Repayment - September 18, 2026.
Nominal — 1000 R.
Coupon rate — 9,75% per annum. There will be 20 coupon periods of 91 days each. The first will end on December 24, 2021, will pay 24.31 R. In September 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 assigned to 25 September 2024, applications for participation in it must be submitted from 16 on 20 September 2024. Participation in the offer may be paid, therefore, it is worth checking the tariffs of your broker in advance.
1 October, this bond was traded at an average of 100.01% of the face value. The current yield at this price is 9.75%, simple yield to the offer — 9,72%, effective yield to offer — 10.1% per annum. Yield to maturity cannot be calculated, since the size of not all coupons is known.
Corporate bond
DirectLeasing 001R-07
Issuer — LLC "Directlizing".
Repayment — 23 September 2026.
Nominal — 1000 R.
Coupon rate — 11,5% per annum. There will be 20 coupon periods for 91 day every day. The first will end on December 29, 2021, will pay 28,67 R.
Depreciation. The bond will be redeemed gradually: in June 2022, together with the coupon, 15% of the face value will be paid, in September 2024 — 20%, in September 2025 — 25%. The remaining 40% will be repaid in September 2026. After each depreciation payment, the coupon amount in rubles will decrease.
1 October this bond was traded on average at 99.77% of par. The current yield at this price is 11.53%, simple yield to maturity — 8,59%, effective yield to maturity — 12.08% per annum.
Corporate bond
DOM.RF mortgage agent BO-001R-09
Issuer — Dom.rf Mortgage Agent LLC.
Repayment — 28 August 2031.
Nominal — 1000 R.
Coupon rate - 7.65% per annum. There will be 48 coupon periods of one month. The first will end on November 28, 2021, will pay 17,19 R.
1 October, this bond traded on average for 99.72% of the face value. The current yield at this price is 7.67%, simple yield to maturity — 7,65%, effective yield to maturity — 7.91% per annum.
Promotions
Foreign companies
1 September shares and depositary receipts began to be traded on the Moscow Exchange 77 foreign companies. Here is their list:
- A. O. Smith.
- Abiomed.
- Acadia Pharmaceuticals.
- Aflac.
- Air Products and Chemicals.
- Albemarle.
- Altria.
- ANSYS.
- Assuring.
- Archer-Daniels-Midland.
- Atmos Energy.
- Automatic Data Processing.
- Beckton, Dickinson and Company.
- Beyond Meat.
- Bilibili.
- Brown-Forman.
- Cardinal Health.
- Cincinnati Financial.
- Ribbons.
- Cleveland-Cliffs.
- Clorox.
- Consolidated Edison.
- Dover.
- Devon Energy.
- Enphase Energy.
- Expeditors International of Washington.
- F5 Networks.
- Fastly.
- First Solar.
- Franklin Resources.
- Funko.
- General Dynamics.
- Genuine Parts.
- Heron Therapeutics.
- Hormel Foods.
- Huntington Bancshares.
- Illinois Tool Works.
- J. P. Morgan Chase.
- Jacobs Engineering.
- KeyCorp.
- Kimberly-Clark.
- Morgan children.
- COMPLAIN.
- Leggett and Platt.
- Livent.
- McCormick and Company.
- MSCI.
- News.
- NVR.
- OraSure Technologies.
- Paycom Software.
- PBF Energy.
- People’s United Financial.
- Pinterest.
- Plug Power.
- PPG Industries.
- Quidel.
- Regions Financial.
- Renewable Energy Group.
- Robinhood Markets.
- Roper Technologies.
- Sarepta Therapeutics.
- Sherwin-Williams.
- SolarEdge Technologies.
- Sysco.
- T. Rowe Price.
- Teladoc Health.
- Teledyne Technologies.
- TSMC.
- Tyler Technologies.
- V. F.
- Vulcan Materials.
- W. W. Grainger.
- Walgreens Boots Alliance.
- West Pharmaceutical Services.
- Williams.
- XPeng.
Bidding goes for rubles and dollars, 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
Alpha is Space (AKSC)
This exchange-traded mutual fund from Alfa Capital allows you to invest in shares of companies, space-related, according to the index "Alpha Capital Space". The income is reinvested.
AKSC total expense level - up to 1,81% 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 AKSC.
Bidding goes for rubles and dollars. 1 October one share of AKSC cost about 72 R, or about 0.98 $.
Exchange traded fund
VTB - Fund for Sustainable Development of Russian Issuers (VTBF)
This exchange-traded mutual fund from VTB Capital allows you to invest in shares of Russian companies, paying much attention to the environment and social development. The index "RSPP - Vector of sustainable development of Russian issuers" is monitored. The income is reinvested.
VTBF total expenditure level - up to 1,3% 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 VTBF.
Trades go for rubles. 1 October, one share of VTBF cost about 99 R.
Exchange traded fund
Opening - Asian Stocks (OPNA)
This exchange-traded mutual fund from Otkritie Management Company consists of shares of developed and developing Asian countries without Japan. The largest weight in China, Taiwan and Korea. MSCI All Country Asia ex Japan index tracked, for this, the fund buys shares ETF AAXJ. The income is reinvested.
OPNA total spending level - up to 1,48% 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 OPNA. AAXJ still has expenses 0,7% in year.
Bidding goes for rubles and dollars. 1 October one share of OPNA cost about 70 R, or about 0.96 $.
Exchange traded fund
Opening - Shares of Europe (OPNE)
This BPIF allows you to invest in the shares of the largest European companies according to the Euro Stoxx index 50. To do this, the fund buys shares of ETF CSX5. France has the highest weight, Germany and the Netherlands. The income is reinvested.
OPNE total spending level - up to 1,68% per year of the fund's net asset value. Expenses are gradually deducted from the fund's assets and thus included in the OPNE exchange price. The CSX5 fund still has expenses 0,1% in year.
Bidding goes for rubles and euros. 1 October one share of OPNE cost about 83 R, or €0.99.
Exchange traded fund
Otkritie - RF Shares (OPNR)
This BPIF allows you to invest in shares of the largest Russian companies according to the Moscow Exchange index - 15. The income is reinvested.
OPNR total spending level - up to 1,41% 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 OPNR.
Trades go for rubles. 1 October one share of OPNR cost about 105 R.
Exchange traded fund
Otkritie — Russian Bonds (OPNB)
This BPIF allows you to invest in bonds of Russian companies with a rating from BB− to BBB− according to the corporate bond index RUCBITRBB, wherein 60 Papers. The income is reinvested.
OPNB total spending level - up to 1,31% per year of the fund's net asset value. Expenses are gradually deducted from the fund's assets and are thus included in the OPNB exchange price.
Trades go for rubles. 1 October, one share of OPNB cost about 100 R.
Exchange traded fund
Opening - US Bonds (OPNU)
This BPIF consists of high-yield dollar bonds primarily from US issuers.. Markit iBoxx USD Liquid High Yield Capped Index tracked, why the fund buys shares of ETF SHYU. The income is reinvested.
OPNU total spending level - up to 1,58% 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 OPNU. The SHYU Foundation still has 0,5% in year.
Bidding goes for rubles and dollars. 1 October one share of OPNU cost about 75 R, or about 1.03 $.
Exchange traded fund
Raiffeisen - American Stocks (RCUS)
This exchange-traded mutual fund from Raiffeisen Capital manages the S&P 500, why the fund buys shares of ETF CSPX. The income is reinvested.
The general level of RCUS expenditures is up to 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 RCUS exchange price. The CSPX fund still has 0,07% in year.
Bidding goes for rubles and dollars. 1 October one share of RCUS cost about 98 R, or about 1.34 $.
