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Silvero term sheet

Silvero term sheet

Silvero term sheet

Silvero Term Sheet

The general terms and conditions of Silvero security token issuance

Name of the Token:

Silvero (SVR)

Token legal status:

The token has a form of a zero-coupon bond according to Art. 1156 Swiss Code of Obligations. It qualifies as securities according to Art. 2 para. 1 lit. b Swiss Financial Market Infrastructure Act.

Issuer:

Silvero A.G., Zug, Switzerland. The Issuer incorporation is pending the FINMA clearance and permission to launch operations in Switzerland.

Parent:

The Issuer will be a 100% subsidiary of Arca Investments, a.s., Slovak Republic.

Nominal Value:

The nominal value of each Token will be 1 000,00 EUR.

Discounted Issue Price:

74,72582% of the Nominal Value for Tokens (bonds) issued on the Token Generation Event.

Actual Price:

Equals Discounted Issue Price + Accrued Interest to date

Accrued Interest:

The amount of interest that accrues every day is calculated by using a straight-line amortization, which is found by subtracting the Discounted Issue Price from its nominal value and dividing by the number of days in the term of the bond.

Coupon:

Zero-coupon

Hard cap:

30 mil. EUR. Strictly limited to ensure safe and profitable deployment into CEE consumer loan market and to provide quality collateral.

Yield to maturity:

6,0% p.a.

Final Maturity Date:

1.1.2025 - 60 months after the Token Generation Event

Requests collection starts:

1.9.2019

Token Generation Event:

1.1.2020

Sale ends:

30.3.2020 or 31.12.2025

Status of the Bonds:

The Token constitutes direct, general, unconditional, unsubordinated and unsecured obligations of the Issuer and shall at all times rank (i) without any preference among them and (ii) at least pari passu with all direct, unconditional, unsubordinated and unsecured obligations of the Issuer, except those obligations which are mandatorily preferred by law.

Calculation of interest:

Accrued interest shall be calculated based on an actual number of days elapsed.

Minimum investment:

The minimum permissible investment upon issuance of the Bonds is not limited.

Redemption and call structure

 

Redemption at Final Maturity Date:

On the Final Maturity Date, the Issuer shall redeem all of the outstanding Tokens with an amount per Token equal to the Nominal Amount.

Redemption before Final Maturity Date:

Before the Final Maturity Date the Issuer will, upon request, quarterly redeem up to all of the outstanding Tokens with a Value per Token equaling to the value ensuring gross yield before fees for token holders 6,0% p.a. – Actual price.

„Gating clause“ - The Issuer reserves, in case of too many early redemption requests at the same time, the right to apply a “Gating Clause” amounting up to 10% per quarter of total token supply available to token holders (tokens sold). In the case of early redemptions exceeding available capital due to gating clause, unrealized redemptions will be carried to a new quarter with FIFO approach.

“Redemption fee” – The Issuer reserve the right to apply fee upon early redemption. For token owners holding tokens less than 12 months 3% fee apply, for owners holding more than 12 months up to 24 months 2% fee apply, for owners holding more than 24 months to 36 months 1% fee applies, and for tokens holders holding more than 36 months early redemption carries no fees.