NSD Service: BPUT Corporate Action "Early Redemption of Securities or Their Acquisition"

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BPUT Corporate Action: Early Redemption of Securities or Their Acquisition by the Issuer
To ensure that the rights attached to retired bonds are recorded, the Issuer must hold a treasury securities account. To open such an account with NSD, the issuer needs to sign a Treasury Securities Account Agreement (if not already in place). If retirement takes place through the exchange, the Issuer additionally submits to NSD, on paper, an instruction for transfer of securities at the end of clearing (Conditional Instruction) in Form MF014, and open a trading sub-account on the treasury securities account for the Issuer or its retirement agent, by submitting Form AF090 with operation code 90 via the web account for depository and settlement services.
Previously established BPUT Procedure (Without Securities Blocking)

Corporate Action BPUT Procedure

Russian bonds with mandatory centralised safekeeping at NSD, where the start date of placement before 1 January 2020, and any additional issues thereof (excluding government and municipal bonds)
Government and municipal bonds
International bonds with NSD as the Lead Depository, if the Issuer has elected to apply the legacy BPUT procedure

Issuer's Corporate Action Notice to NSD

The Notice of Corporate Action shall also specify

The Notice of Corporate Action is submitted via the web account for corporate actions by creating a BPUT corporate action event.

NSD registers the corporate action based on the Notice of Corporate Action received from the issuer

Notification to clients.

Participation in the Corporate Action

Any person exercising rights under the bond participates in the corporate action by submitting a call or instruction via the method and within the timeframe specified in the corporate action notice.

When participating through NSD, the instruction is submitted using Form CA333, and bonds are not blocked on the client's securities account.

Corporate Action Settlements

Cash payments to bondholders and the transfer of bonds are executed in accordance with the settlement procedure specified in the issuance documents and the corporate action notice.

New BPUT Procedure (With Securities Blocking)

Corporate Action BPUT Procedure

Russian bonds with centralised recordkeeping of ownership at NSD, as well as Russian bonds with mandatory centralised safekeeping at NSD, where the start date of placement was after 1 January 2020 (excluding government and municipal bonds)
Bonds of Russian issuers with rights recorded in the register (issue form: "Uncertificated Registered" or "Uncertificated Recorded in the Register") (excluding government and municipal bonds)
International bonds with NSD as the Lead Depository, if the Issuer has elected to apply the new BPUT procedure

Issuer's Corporate Action Notice to NSD

The Notice of Corporate Action shall also specify

The Notice of Corporate Action is submitted via the web account for corporate actions by creating a BPUT corporate action event.

NSD registers the corporate action based on the Notice of Corporate Action received from the issuer

Notification to clients.

Participation in the Corporate Action

Any person exercising rights under the bond participates in the corporate action by submitting a call or instruction via the method and within the timeframe specified in the corporate action notice.

The corporate action through NSD requires the following forms:

Corporate Action Settlements

Documents
Recording of the webinar for issuers: «Specifics of Conducting a Corporate Action BPUT», May 30, 2024
Presentation «Conducting the corporate action BPUT»
1.2 MB
Instructions for Participating in the BPUT Corporate Action
554 kB
Video Instructions for a BPUT Corporate Action using the Old Technology
Video Instructions for a BPUT Corporate Action using the New Technology
BPUT Corporate Action
1.2 MB
Any questions? Contact us
Telephone
Issuer Relations+7 495 232-05-27
Email
bonds@nsd.ru
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