PT Bank Commonwealth (“Bank”), with its CommBank SmartWealth was selected by the Ministry of Finance of the Republic of Indonesia as a distribution partner for the ST012 series Sukuk Tabungan (ST) in the domestic primary market.
- DEFINITION
Sukuk Tabungan ("ST") is a sharia investment product issued by the government to individual Indonesian citizens that is safe, easy, affordable, profitable, and sharia compliant. Which is distributed through Distribution Partners in the domestic Primary Market.
ST has a floating coupon* with minimum rewards (floating with a floor) and refers to the BI Rate.
* Floating means that the amount of the ST coupon will be adjusted to changes in the BI Rate every 3 (three) months.
** As a new policy interest rate because it can quickly affect the money market, banking, and the real sector.
- DETAIL PRODUCT
Series
ST012T2
ST012T4
Issuer
The Government of the Republic of Indonesia through the Indonesian SBSN Issuing Company
Currency
Rupiah (Rp)/IDR
Minimal Coupon*
6.40 % (BI Rate + 15 bps) gross per annum
6.55% (BI Rate + 30bps) gross per annum
Tenors
2 Years
4 Years
Offering Period
26 April 2024 – 29 May 2024 maximal 10.00 WIB
via CommBank SmartWealthSettlement Date
05 June 2024
Due Date
10 Mei 2026
10 Mei 2028
Maximum Order
IDR1,000,000 and multiplication of IDR1,000,000
Maximum Order
IDR5,000,000,000
in all Selling AgentsIDR10,000,000,000
in all Selling AgentsCoupon Payment
PeriodThe 10th (tenth) of every month
First Coupon
10 July 2024 (long coupon**)
Tradability
Non-tradeable, but has an Early Redemption facility
Early Redemption Feature
Early Redemption Period
25 April 2025 (09:00 WIB) – 05 May 2025 (10:00 WIB)
24 April 2026 (09:00 WIB) – 04 May 2026 (10:00 WIB)
Early Redemption Settlement date (tentative)
10 May 2025
10 May 2026
Max Amount Early Redemption
50% per order
* Minimum Coupon means that the first coupon rate set will be the minimum coupon valid until maturity.
** long coupon is the number of days for yields received for less than one month.
- EXCELLENCE
The advantages of investing in Sukuk Tabungan series ST012T2 and ST012T4:
Safe
Your investment is guaranteed 100% by the StateAffordable
Investment can start from IDR1,000,000 (one million Rupiah.)Competitive Coupon Rate
When issued on the Primary Market, the rewards/coupons off¬ered are higher than the average deposit interest rate.Easy
Invest easily through CommBank SmartWealth.
- PRODUCT RISK
Explanation of the Risks of Sukuk Tabungan series ST012T2 and ST012T4 are as follows:
Default Risk
Default Risk, which is the risk that the Investor is unable to obtain payment of funds promised by the issuer when the investment product's coupon and principal are due.Interest Rate Risk
Interest rate risk, namely the risk of changes in interest rates in the market that have the potential to cause losses to investors.Liquidity Risk
Liquidity risk is a potential loss if prior to maturity the owner of the Sukuk Tabungan series ST012T2 and ST012T4 who requires cash has difficulty selling the Sukuk Tabungan series ST012T2 and ST012T4 because sales can only be made on early redemption period.
- CASHBACK PROGRAM
Get Cashback as shown in the table below for investing in ST012T2 and ST012T4 through CommBank SmartWealth as follows: SchemeTiering Total Accumulated Purchase (IDR)Cashback (nett) per multiplication of IDR100,000,000Early Bird
(26 April 2024 – 2 May 2024)Regular
(3 May 2024 – 29 May 2024)Fresh FundA> 2 billion150,000100,000200,000B500 million - < 2 billion100,00075,000150,000C100 million - < 500 million75,00050,000100,000
General Term & Conditions Program:- Program period Early Bird: 26 April 2024 – 2 May 2024.
- Program period Regular: 3 May 2024 – 29 May 2024.
- Cashback is calculated based on the accumulated nominal purchase (ST012T2 and ST012T4) during the offer period ordered via CommBank SmartWealth and is calculated based on multiplication of IDR100,000,000 (one hundred million Rupiah).
- If the purchase of ST012T2 and ST012T4 carried out in stages over different periods, then cashback calculation will follow the scheme on above table
- Purchase with multiplication below IDR100,000,000 (one hundred million Rupiah)will not be counted for cashback.
- Fresh Funds are funds that do not come from funds already available in the Bank (including total managed funds (AUM) or product disbursement).The Fresh Fund calculation is the difference in total Total Relationship Balance (TRB) funds for the current month (end of the current month) compared to the TRB 1 (one) month before purchasing SR020T3 dan SR020T5 (TRB at the end of the month).
- Cashback is in the form of cash (net) that will be credited to Customer Account in Bank Commonwealth, maximum 60 (sixty) working days from Settlement Date.
- This program cannot be combined with other Bank programs.
Cashback Calculation Simulation:
Scenario 1:No Date
Nominal Purchase
Source of Fund
1
26 April 2024
IDR300,000,000
Existing Fund
2
27 April 2024
IDR200,000,000
Existing Fund
Total Purchase
IDR500,000,000
Cashback Calculation
Cashback tiering will be counted from total purchase, in this case total purchase is IDR500,000,000 so cashback calculation will follwo scheme BNo Program Period
Cashback Amount
per IDR100 millionCashback
1
Early Bird
IDR100,000
IDR300,000
2
Early Bird
IDR100,000
IDR200,000
Total Cashback
IDR500,000
Scenario 2:No Date
Nominal Purchase
Source of Fund
1
2 May 2024
IDR400,000,000
Existing Fund
2
4 May 2024
IDR1,000,000,000
Existing Fund
3
7 May 2024
IDR600,000,000
Existing Fund
Total Purchase
IDR2,000,000,000
Cashback Calculation
Cashback tiering will be counted from total purchase, in this case total purchase is IDR2,000,000,000 so cashback calculation will follow scheme A.No Program Period
Cashback Amount per IDR 100 Mio
Cashback
1
Early Bird
IDR150,000
IDR600,000
2
Regular
IDR100,000
IDR1,000,000
3
Regular
IDR100,000
IDR600,000
Total Cashback
IDR2,200,000
Scenario 3:No Date
Nominal Purchase
Source of Fund
1
18 May 2024
Rp250.000.000,-
Existing Fund
2
21 May 2024
Rp200.000.000,-
Fresh Fund
Total Purchase
Rp450.000.000,-
Cashback Calculation
Cashback tiering will be counted from total purchase, in this case total purchase is IDR 450,000,000 so cashback calculation will follwo scheme CNo Program Period
Cashback Amount per IDR100 mio
Cashback
1
Regular
IDR50,000
IDR100,000
2
Regular (Fresh Fund)
IDR100,000
IDR200,000
Total Cashback
IDR300,000
- ORDERING PROCEDURES
It is mandatory to order ST012T2 and ST012T4 through the online platform. Customers can use CommBank SmartWealth to place orders using product name: ST012T2 and ST012T4.
Register your SID (Single Investor Identification) and Securities Account through the Bank Commonwealth by contacting the nearest Bank Commonwealth Branch or contacting your RM.
- REQUIREMENTS FOR ORDERING RETAIL GOVERNMENT BONDS
- Individuals, Indonesian Citizens are proven by their KTP registered at Directorate of Population and Civil Registry (DUKCAPIL).
- Have Saving Account at Bank Commonwealth.
- Have Securities Account and Single Investor Identification (SID) that have been registered at Bank Commonwealth.
- Activate CommBank SmartWealth.
The Terms and Conditions for this Program refer to the Bank's internal provisions and have been adjusted to the laws and regulations in force in the Republic of Indonesia, including the provisions of the Financial Services Authority.
For information and services, complaints on banking transactions/services can be submitted by the Customer and/or a valid representative of the Customer can submit through the nearest Bank branch office or please contact Call CommBank at 15000 30 / 1500 938 (for CommBank Premier) or (62- 21) 2935 2935 for international access or via email customercare@commbank.co.id.
The mechanism for submitting Customer Complaints can be accessed at
https://www.commbank.co.id/en/static-page_1/the-complaint-handling-submission-mechanism.
Disclaimer: |