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Announcement of auction - 6-months Bills of the European Stability Mechanism (ESM)

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09/18/2020 | 06:35am EDT

Press release

Frankfurt am Main 18 September 2020 Page 1 of 2

Announcement of auction 6-months Bills

of the European Stability Mechanism (ESM)

The European Stability Mechanism (ESM) will launch 6-monthsBills of the European Stability

Mechanism (ESM) by auction. An issue volume up to EUR 2 billion is envisaged.

Members of the "ESM Market Group" are entitled to bid. Bids are to be transmitted electronically through the Deutsche Bundesbank's ESM Bidding System (EBS). The Deutsche Bundesbank acts in the name and for the account of the ESM, which is the seller of the Bills. Bids must be for a par value of not less than EUR 1 million or an integral multiple thereof. The price bids must be expressed as full 0.00005 percentage points. It is possible to make non-competitive bids and to submit several bids at different prices. No yield bids will be considered. The bids accepted by the issuer will be allotted at the price specified in the bid. Non-competitive bids are filled at the weighted average price of the price bids accepted. The right to scale down bids is reserved.

Time schedule of the auction procedure:

Date of invitation to bid:

Monday, 21 September 2020

Bidding period:

Tuesday, 22 September 2020,

from 8:00 a.m. until 12:30 p.m. Frankfurt time

Value date:

Thursday, 24 September 2020

Settlement:

Delivery versus payment-settlement in the night-time

processing of Clearstream Banking AG Frankfurt, beginning on

the eve of the value date.

Deutsche Bundesbank, Communications Department

Wilhelm-Epstein-Strasse 14, 60431 Frankfurt am Main, Germany, Tel: +49 (0)69 9566 3511 or 3512, Fax: +49 (0)69 9566 3077 presse@bundesbank.de, www.bundesbank.de

Reproduction permitted only if source is stated.

Frankfurt am Main 18 September 2020 Page 2 of 2

Characteristics of the new 6-months Bills of the European Stability Mechanism (ESM):

Maturity:

18 March 2021 (177 interest days)

ISIN:

EU000A2SB901

Common Code:

223599125

Denomination:

0.01 Euro

Envisaged issue volume:

Up to EUR 2 billion

In addition, the Auction rules for the issue of Bonds and Bills of the European Stability Mechanism (ESM) and the Special terms and conditions of the Deutsche Bundesbank for auctions of Bonds and Bills of the European Stability Mechanism (ESM) using the ESM Bidding System (EBS) shall apply. The Bills are issued under the ESM Debt Issuance Programme.

The ESM is exempt from Directive 2014/65/EU on markets in financial instruments (MiFID II) and does not constitute a manufacturer under the product governance rules set out in EU Delegated Directive 2017/593. The ESM is therefore not subject to the responsibilities conferred on manufacturers therein.

Deutsche Bundesbank, Communications Department

Wilhelm-Epstein-Strasse 14, 60431 Frankfurt am Main, Germany, Tel: +49 (0)69 9566 3511 or 3512, Fax: +49 (0)69 9566 3077 presse@bundesbank.de, www.bundesbank.de

Reproduction permitted only if source is stated.

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Deutsche Bundesbank published this content on 18 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 September 2020 09:34:01 UTC


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