former name Bonus Hungarian Government Bond (BMÁK)
Bonus Hungarian Government Security (BMÁP) a registered floating rate government security with different tenors. The denomination is HUF 1. The annual interest rate is equal to the sum of the interest base and the interest rate premium. The date of interest rate fixings and the interest rate premium are set in the public offering.
Sales of BMÁP was suspended between 1 June 2019 and 29 September 2022.
The interest payable consists of the base interest rate and the interest premium. For series issued on and after 30 September 2022 the interest base for the given interest period equals to the weighted average of the average yields of the previous four successful auctions of the 3 month Discount Treasury Bills. These series pay interest every three months, and interest amount is paid on the last day of each such period.* The date of interest rate fixings and the interest rate premium are set in the Public Offering.
For the series issued on and after 30 September 2022, a Sales Cap has been set for dealers, the amount of which will be specified in the Offering Circular and in the Public Offering of certain series.
BMÁP sold within a time frame designated by the issuer and all the security of the same series has the same maturity. The repayment of the principal is due in one lump sum at maturity. For series issued on and after 30 September 2022, no interest tax will be charged.
The relevant series of Bonus Hungarian Government Securities issued after 1 June 2019 are exempted from the obligation to pay the social contribution tax set out of Act LII of 2018 on Social Contribution Tax.
BMÁP can be purchased and transferred by resident and non-resident individuals. Persons eligible to acquire the BMÁP on the primary market may purchase and transfer the BMÁP among themselves on the secondary market after the placement.
For terms and conditions of each series, please get informed from the Public Offering and Offering Circular for that series.
The security can be bought and sold in the branch network of the Hungarian State Treasury, through its electronic platform called WebTreasury, and in the branch network of the following dealers: CIB Bank Zrt., Concorde Értékpapír Zrt., Erste Befektetési Zrt., Equilor Befektetési Zrt., Gránit Bank Zrt., K&H Bank Zrt., MBH Befektetési Bank Zrt. (formerly MTB Magyar Takarékszövetkezeti Bank Zrt.), MBH Bank Nyrt. (formerly MKB Bank Nyrt.), OTP Bank Nyrt., UniCredit Bank Hungary Zrt., Raiffeisen Bank Zrt.
*For series issued before 1 June 2019 the interest base for the given interest period equals to the weighted average of the average yields of the previous four successful auctions of the 12 month Discount Treasury Bills. These series were issued with a 4, 6, and 10-year maturity and the series pay interest anually, and interest amount is paid on the last day of each such period.