Corporate · RU000A10AYF7

New Technologies 001P-04

RU000A10AYF7 · New Technologies yield curve

Fixed

18.48%

yield to maturity

fair+102 bp

Price 102.04% 1 066 ₽ with accrued interest

Coupon 24.25% 4×/yr

Maturity 19.02.2027 term 0.3 y

Duration 0.3 y price −0.3% per +1 pp of rate

Premium over OFZ +532 bp over OFZ 13.16% at 0.30 yr

Credit risk A-(RU) ACRA · low

Price and premium over OFZhow the bond has traded and how much it pays over OFZ

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 to maturity, % Premium over OFZ, bp

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Effective YTM under the MOEX convention (ACT/365). The fair price discounts the cash flows at the yield of a comparable credit class (a reference point).

Cash flows

Date	Coupon, ₽	Principal, ₽	Total, ₽

Coupon payments and principal repayment by date for one bond. On the chart, coupons use the left axis and face value the right one.

A bond or a deposit?

This bond

18.5%

the rate is fixed for 0.3 y

Deposit

13.1%

top-10 banks, decade 2 of October 2026

Liquidity fund

13.6%

floats with the CBR key rate

The yield is 5.4 pp above the deposit rate, and that difference is payment for the issuer's credit risk: a deposit is insured by the DIA (up to 1.4m ₽), a liquidity fund invests in short risk-free instruments, and a bond can default. The issue's credit assessment is in the credit risk traffic light above.

A pre-tax comparison. Bond coupons are taxed at 13% personal income tax — see the “After-tax yield” row in the bond parameters (≈ 12.9%). Deposit interest is taxed above a tax-free allowance; a liquidity fund qualifies for the long-term holding relief after 3 years.

Issuer credit qualitycredit risk and the issuer's debt on the exchange

Credit risk Low issuer rating A- · ACRA

Default probability ≈ 0.25% per year, by issuer rating

Issuer debt on the exchange 10.21 bn ₽ 11 issues

Due within a year 82% of exchange debt, maturities and puts

Cost of debt 20.00% market 17.98%

Issuer debt maturities by year

20261.8 bn

20277.5 bn

20281.0 bn

All of the issuer's bonds are in the section “Issuer curve”.

Risk-adjusted yield

18.27%

without the adjustment — 18.48%: expected default losses reduce the yield by 21 bp (1 bp = 0.01 pp)

The probability of default is 0.25% a year: the historical average for this rating. In a default, holders recover 30% of face value on average.

What the spread over OFZ is made of

Expected loss 21 bp Exit cost 6 bp Risk premium 505 bp

FairValue score

Attractiveness score49/100

How the score is built

Cheap vs norm 51 weight 15%

Cheap vs group 59 weight 15%

Safety buffer no signal — weight 25%

Liquidity 51 weight 25%

Credit quality 36 weight 20%

Peersthe issuer's other bonds and similar bonds of other issuers

Issuer curve

7 issues · New Technologies. This bond is cheaper than its own curve (yield higher by 83 bp: an issue premium)

duration, years → ● this bond · yield, % ↑

Similar issues

Other issuers' bonds with a fixed coupon, close in maturity and rating

Compare with another bond

Whether to swap New Technologies 001P-04 for another issue - we compare yield (including after tax), credit risk, duration and liquidity

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New Technologies 001P-04 and peers: yield × term

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Historywhat the bond returned in the past

Issue parametersterms, buying now, yields and spreads

Terms

Coupon24.25% a year · 4 payments/yr

Coupon, ₽60.46

Par1 000 ₽

Maturity19.02.2027 · 0.3 y

Issue

Listing level2

Issue size1.1 bn ₽

Lot1 units

Buying now

Order book102.00 / 102.04%spread 0.04% (≈13 bp of yield)

Cost of entry≈ 20 ₽ per 100,000 ₽ · quote 27.10 20:00

Accrued interest, ₽45.17 as of 28.10.2026

Average daily turnover2.2 mn ₽

Trades today79 · turnover 1.0 mn ₽

Yields

Current yield23.77%

Simple yield16.63%

After-tax yield12.93% / 12.10% at 15%

Spreads and valuation

Z-spread over OFZ+530 bp

Spread over swaps (I)+437 bp

Z-spread over swaps+436 bp

Peer assessmentFair +102 bp

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).