Bond DOM.RF Mortgage Bonds 0% ( RU000A107SY1 ) in RUB

Issuer	DOM.RF Mortgage Bonds
Market price	100 % ▲
Country	Russia
ISIN code	RU000A107SY1 ( in RUB )
Interest rate	0%
Maturity	28/11/2033
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Minimal amount	/
Total amount	45 499 876 000 RUB
Detailed description	DOM.RF Mortgage Agent Bonds provide surety bonds to mortgage loan originators in Russia, ensuring compliance with regulatory requirements and protecting consumers against financial losses resulting from agent misconduct. The financial instrument under review is a bond, identified by ISIN code RU000A107SY1, issued by DOM.RF Mortgage Agent Bonds, a key entity within the Russian Federation's housing finance sector. DOM.RF (DOM.RF Joint Stock Company) is a state-owned housing development institution, established to facilitate the development of the mortgage market and housing construction in Russia. As a mortgage agent, DOM.RF Mortgage Agent Bonds plays a pivotal role in securitizing mortgage loans, effectively acting as an issuer of mortgage-backed bonds, which are crucial for channeling investment into the housing market and supporting the national housing policy. This particular bond, issued in Russia with the Russian Ruble (RUB) as its currency, has an impressive total issue size of 45,499,876,000 RUB, indicating a significant capital raising effort. Notably, the bond is classified as a zero-coupon instrument, meaning it does not provide periodic interest payments to bondholders; instead, investors typically derive their return from acquiring the bond at a discount to its face value and receiving the full principal amount at maturity. The current market price for this bond stands at 100% of its nominal value, which, in the context of a zero-coupon bond, implies that any yield to maturity from this point would be negligible unless acquired at an earlier discount. With a distant maturity date set for November 28, 2033, this bond represents a long-term investment vehicle. The reported payment frequency of "1" for a zero-coupon bond typically refers to the single principal repayment occurring at the bond's maturity date. Investors considering this instrument would be evaluating exposure to the Russian housing finance market, with the credit quality underpinned by the state-backed nature of DOM.RF, alongside an assessment of currency risk associated with the Russian Ruble and the unique return profile of a zero-coupon bond trading at par.