The securities are issued with the tenor of 5 years, with the denomination of HUF 1 and with fixed interest rates pre-determined for each interest period. From 3 June 2024, it is issued by means of a tap issue.* The Hungarian Government Bond Plus may be purchased during the sales period at a net price of 100% plus accrued interest.
The interest is allocated annually.** On the day of the interest allocation (except for the last one on the maturity date) government securities of the same series (in MÁP Plusz) will be credited to the securities account of the holder of MÁP Plusz at the face value identical to the amount of interest. At the maturity, on the last interest allocation date the holder of MÁP Plusz entitled to the amount of interest in forint.
Within the 5 business days periods after each interest allocation day, the dealers quote a net purchase price of 100% (without loss on capital) and the accrued interest calculated according to the date of purchase. On other business days, the dealers quote their purchase prices to the series of Hungarian Government Security Plus according to their terms and conditions. Consequently, MÁP Plusz can be sold during its tenor.
For the MÁP Plus series, a Sales Cap will be set for the dealers from 3 June 2024, the amount of which is specified in the Public Offering of certain series.
No interest tax will be charged. The relevant series of MÁP Plusz issued after 1 June 2019 are also exempted from the obligation to pay the social contribution tax set out in Act LII of 2018 on Social Contribution Tax.
Hungarian Government Security Plus can be purchased and transferred by resident and non-resident individuals. Non-residents may acquire and transfer this security in accordance with the effective foreign exchange laws.
MÁP Plusz 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., Equilor Befektetési Zrt., Erste Befektetési Zrt., Gránit Bank Zrt., K&H Bank Zrt., MBH Bank Nyrt. (formerly MKB Bank Nyrt.), MBH Befektetési Bank Zrt. (formerly MTB Magyar Takarékszövetkezeti Bank Zrt.), OTP Bank Nyrt., UniCredit Bank Hungary Zrt., Raiffeisen Bank Zrt.
*The series traded until 31 May 2024 were sold by subscription.
**For series sold up to 31 May 2024, interest is paid semi-annually in the first year and annually thereafter.