Corporate · RU000A102564

RZD 001B-03

RU000A102564

Floater Put 09.30 Perpetual

6.58%

yield under the scenario (implied)

the bond barely trades - the yield may be out of date

Price 85.18% 869 ₽ with accrued interest

Coupon 18.30% 5-year OFZ yield

Put/call 18.09.2030 perpetual

Duration 0.1 y coupon tracks the rate

Daily turnover — no data for 30 days

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—

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Total profit—

If the margin changes: price sensitivity and stress

Price at ±1 pp of margin—

Stress on margin

bp of margin

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Position P&L—

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

Floating coupon

Coupon base5-year OFZ yield · 16.03%

Current coupon rate18.30%

Premium over the base+215 bp

Simple margin+596 bp

Upcoming coupon · 24.03.202791.25 ₽ (18.30%)

How the coupon is calculated. Coupon rate = OFZ yield at the 5-year tenor (Moscow Exchange G-curve) + a margin of +215 bp. Paid twice a year.

Coupon scenario Flat · Implied

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issuer balance sheet · RAS 2021 · the data is out of date · not representative for a holding company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Figures are from the issuer's RAS statements for 2021 - the data is out of date.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

Coupon18.30% a year · 5-year OFZ yield · 2 payments/yr

Coupon, ₽91.25

Par1 000 ₽

Maturity—

Put/call18.09.2030

Issue

Listing level3

Issue size100 bn ₽

Lot1 units

Buying now

Order book84.95 / 85.18%spread 0.23% (≈161 bp of yield)

Cost of entry≈ 135 ₽ per 100,000 ₽ · quote 27.10 18:45

Accrued interest, ₽17.54 as of 28.10.2026

Trades today0

Yields

After-tax yield5.65% / 5.51% at 15%

- with the long-term holding relief (3+ years)6.18%

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).