Bond VTBank 0% ( RU000A102ZW1 ) in RUB

Issuer	VTBank
Market price	100 % ⇌
Country	Russia
ISIN code	RU000A102ZW1 ( in RUB )
Interest rate	0%
Maturity	22/04/2027
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Minimal amount	1 000 RUB
Total amount	1 000 000 000 RUB
Detailed description	VTB Bank is a major Russian state-owned bank offering a wide range of financial services including corporate and retail banking, investment banking, and asset management, both domestically and internationally. An in-depth examination of a specific debt instrument reveals a bond issued by VTB Bank, a prominent financial institution based in Russia. Identified by the unique International Securities Identification Number (ISIN) RU000A102ZW1, this obligation provides a clear window into certain structured aspects of the Russian fixed-income market. VTB Bank, standing as a cornerstone of the Russian financial system, is a leading state-owned banking and financial services company. With its headquarters in Moscow, VTB encompasses a wide array of banking operations, including corporate, retail, and investment banking, serving millions of clients across Russia and internationally. Its strategic importance to the Russian economy is undeniable, often acting as a key player in major infrastructure projects and state-backed initiatives. Despite its substantial domestic footprint and critical role, VTB Bank has been subject to various international sanctions, particularly following geopolitical events, which have impacted its global operations and access to certain international financial markets. As a majority state-owned entity, VTB's activities are closely aligned with national economic policy, underscoring its systemic relevance and robust backing within the country's financial landscape. This particular bond, issued out of the Russian Federation, is denominated in Russian Rubles (RUB), aligning it with the domestic currency market. A notable characteristic is its current market price, which stands precisely at 100% of its face value, indicating it is currently trading at par. Further distinguishing this instrument is its stated interest rate of 0%. This classifies the bond as a non-interest-bearing security, meaning it does not disburse periodic coupon payments to bondholders. Given its current market price at par, the bond effectively offers no yield through traditional interest payments, and its return for investors, if any, would typically derive from purchasing the bond at a discount to its par value for redemption at par, which is not the case at its current trading level. The maturity date for this bond is set for April 22, 2027, positioning it as a medium-term debt instrument within the market's duration spectrum. The total volume of this specific bond issue is substantial, amounting to 1,000,000,000 Russian Rubles, reflecting a significant capital raise undertaken by VTB Bank in the domestic market. For potential investors, the minimum purchase size is set at 1,000 RUB, making it accessible to a relatively broad range of participants in the fixed-income sector. The indicated payment frequency of 1, in the specific context of a zero-coupon bond trading at par, signifies that the primary and sole cash flow event for investors will be the single principal repayment occurring precisely at the bond's stated maturity date, with no interim interest distributions.