Rabobank Certificates are issued by “Stichting AK Rabobank Certificaten” and represent interest in a corresponding number of participations with a nominal value of EUR 25,00 each, issued by Rabobank Nederland. The participations are classified as Common Equity Tier 1 capital. Currently, a number of 297,961,365 Rabobank Certificates are outstanding with a nominal value of EUR 25,00 each. The Rabobank Certificates are listed on Euronext Amsterdam.
Rabobank has assessed the applicability of the EU-Regulation on key information documents for packaged retail and insurance-based investment products (PRIIPs) to its Rabobank Certificates (ISIN: XS1002121454) and concluded that the Rabobank Certificates do not constitute a PRIIP under the Regulation. Consequently, no key information document is necessary in order to advise on or sell Rabobank Certificates to EEA retail investors.
The value of your investment can fluctuate. Past performance offers no guarantee of future results.
The actual payment policy of Rabobank pursuant to the Participation Rules in respect of the Participation issued by Rabobank (and via AK Foundation in respect of the Rabobank Certificates) is as follows.
Rabobank expects to make a Payment on a Participation (and via AK Foundation on a Rabobank Certificate) in respect of the Payment Period ending on that date on every Payment Due Date, of whichever of the following is higher:
(1) EUR 0.40625; and
(2) the three-monthly arithmetical average (rounded off to two decimal places) on an annual basis of the effective return on the most recent Reference Loan (or, if there is no Reference Loan, on the most recent Alternative Reference Loan) for the previous Calculation Period ending prior to the start of that Payment Period¹ plus 1.5%, calculated on the nominal value of EUR 25 divided by four.
The intended distribution for the Rabobank Certificates for the period ending on 29 September 2019 has been fixed at € 0.40625 on 26 June 2019. In the calculation period from 26 March 2019 up and until 25 June 2019 the amount under 2) was € 0.099029 (0.08% +1.5% over € 25 divided by 4). Therefore the intended distribution per Rabobank Certificate for the period ending on 29 September 2019 is fixed at € 0.40625.
Please see the prospectus below for detailed information regarding the Rabobank Certificates.
- Participation rules as of 1 January 2016
- Minutes Rabobank Certificatesholders Meeting May 2019 (only available in Dutch)
- Articles of Association STAK
- Report on the activities of Stichting AK Rabobank Certificates in 2018
- Articles of Association of Rabobank
The defined terms above have the following meaning, insofar not defined in the Participation Rules (refered to above):
“Alternative Reference Loan”: one or more loans which, in the opinion of the executive board of Rabobank, coincide(s) as closely as possible as regards yield, nature, remaining term and creditworthiness of the debtor(s) with a Netherlands State loan having a remaining term between 9.5 and 10.5 years;
“Calculation Period”: each period running from 26 March to 25 June, from 26 June to 25 September, from 26 September to 25 December and from 26 December to 25 March in each year;
“Payment Period”: if a Payment is made, each period running from 30 December to 29 March, from 30 March to 29 June, from 30 June to 29 September and from 30 September to 29 December in each year; and
“Reference Loan”: a Netherlands State loan with a remaining term between 9.5 and 10.5 years or, if there is no such loan, a Netherlands State loan with a remaining term between 9 and 11 years.
The payment policy is an indication only. Rabobank is in no way bound by this payment policy and has full discretion to make higher, lower or no Payment at all on the Participations. Whether or not Payments are made on the Participations (and via AK Foundation on the Rabobank Certificates), the amounts of those payments and their payment date are at the full discretion of the executive board of Rabobank (as set out in the Participation Rules).