Corporate · RU000A101TT2

RZD 001B-01

RU000A101TT2

Floater Put 06.30 Perpetual

21.79%

yield under the scenario (current rate)

Price 91.39% 976 ₽ with accrued interest

Coupon 17.26% 5-year OFZ yield

Put/call 14.06.2030 perpetual

Duration 0.4 y coupon tracks the rate

Daily turnover 87.0 k ₽ 30-day average

Credit risk AA+(RU) ACRA · low

Price and spread over the ratehow the bond traded and how much it pays over the base rate

Bond price, % of par

Incomewhat your investment will earn and when payments arrive

Yield calculator

Investment amount, ₽ Or quantity, units Broker fee, % Purchase price, % Yield (YTM), % Discount margin, bp

Bonds for the amount—

Purchase price per unit (with accrued interest)—

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Fee—

Coupon income to maturity—

Principal repayment—

Total profit—

If the margin changes: price sensitivity and stress

Price at ±1 pp of margin—

Stress on margin

bp of margin

Price, %—

Change—

Position P&L—

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Effective YTM under the MOEX convention (ACT/365). The floater's coupons are projected under the "flat" scenario - the yield is indicative.

Floating coupon

Coupon base5-year OFZ yield · 16.03%

Current coupon rate17.26%

Premium over the base+205 bp

Simple margin+442 bp

How the coupon is calculated. Coupon rate = OFZ yield at the 5-year tenor (Moscow Exchange G-curve) + a margin of +205 bp. Paid twice a year.

Coupon scenario Flat · Implied

Upcoming coupons

18.12.202686.06 ₽ (17.26%)

18.06.202786.06 ₽ (17.26%)

17.12.202786.06 ₽ (17.26%)

16.06.202886.06 ₽ (17.26%)

15.12.202886.06 ₽ (17.26%)

15.06.202986.06 ₽ (17.26%)

14.12.202986.06 ₽ (17.26%)

14.06.203086.06 ₽ (17.26%)

Issuer credit qualityrating, financials and the issuer's debt

Credit risk

Low

issuer rating AA+ · default probability ≈ 0.03%/yr

Altman Z″ 1.78 · Grey

issuer balance sheet · RAS 2021 · the data is out of date · not representative for a holding company

Interest coverage1.9×

Liabilities to equity0.5×

Return on sales7.9%

Figures are from the issuer's RAS statements for 2021 - the data is out of date. RAS covers a single legal entity without its subsidiaries. If the issuer is a holding company, the main business is run by subsidiaries, and the group's position is better reflected in consolidated IFRS statements.

Group financials and issuer debt

The issuer's debt outstanding

Circulating1.74 tn ₽of which 56.68 bn ₽ in FX (CHF, CNY)

Issues69 +2 in FX

Due within a year11%

Cost of rouble debt15.05% market 14.97%

2026

2027

2028

2029

2030

2031

2032

2033

in roublesin FX, at the Bank of Russia rate

From 2040 onwards — another 60.2 bn ₽. Issues with a put are assigned to the put date rather than to maturity.

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Historywhat the bond returned in the past

Issue parametersterms, buying now, yields and spreads

Terms

Coupon17.26% a year · 5-year OFZ yield · 2 payments/yr

Coupon, ₽86.06

Par1 000 ₽

Maturity—

Put/call14.06.2030

Issue

Listing level3

Issue size30 bn ₽

Lot1 units

Buying now

Order book91.30 / 100.00% no market: the sides are 8.7% of par apart

Accrued interest, ₽61.94 as of 28.10.2026

Trades today1 · turnover 456.9 k ₽

Yields

After-tax yield18.56% / 18.07% at 15%

- with the long-term holding relief (3+ years)18.82%

Spreads and valuation

MOEX ISS data. Not an individual investment recommendation. Yields, spreads and the fair price are calculated from the exchange quote and are for reference: a real trade goes through at the order book price and depends on the issue's liquidity. The calculations exclude broker and exchange fees; tax is shown on a separate line and simplified (no accrued interest at purchase).