Piraeus Bank would like to inform the investment public that the “Diamond 3Y Callable – Euribor I” term deposit of the «PIRAEUS DIAMONDS» capital guaranteed product range will be recalled on 24 November 2004 (1st period expiry date), in line with the “Early termination right” stated in the product information material.
Therefore, customer accounts will be credited with the initial capital plus the expected annualised 4.40% return, to be finalized on 22/11/04 (observation date), on the aforementioned date.
Piraeus Bank will continue to offer pioneering capital guaranteed products under the “PIRAUES DIAMONDS” range, with the aim to to meet the needs of depositors/investors for alternative placement solutions, enabling them to take advantage of market progress estimates.
“Diamond 4Υ Callable – Euribor IV”
It is a maximum 4-year term deposit in Euro, whereby the Bank reserves the right to terminate it prior to the expiry of the 4-year period. The return on the deposit is linked to the 6m Euribor. Specifically, investors receive annualised return of 4% every six months, provided that 6m Euribor lies within a predefined range at the end of each 6 month period.
The Bank reserves the right to proceed to early termination of the deposit in its entirety when the first six months have elapsed (on the interest payment date specifically), and every six months thereafter, paying 100% of the capital plus interest (if any) for the specific period.
This is a capital guarantee product, and investors will only receive their initial capital unless the aforementioned terms and conditions are met.
Interest, if any, will be paid to investors at the end of each six month period.
The minimum capital requirement is €15,000 and the starting date of the deposit is Monday 3rd of January 2005.
For detailed information about these products, please contact the Piraeus Bank branches calling 801.802.803.804 or visit the Bank’s website at www.piraeusbank.gr