CREDITO VALTELLINESE'S
The bank, in association with Risparmio & Previdenza S.p.A, a company belonging to the Group Cattolica Assicurazioni, is achieving the private placing of its own bonds linked to some Stock Exchange indices.
It is an index-linked bank-insurance dealing. It includes a series of single options with guaranteed minimum return and maximum return linked for 82 per cent to the reference indices, of which bonds are the "financial basis".
The bond issue is lasting 6 years and will be issued below par. It will be repaid with the sum of the capital and the greater value between the guaranteed minimum return and 82 per cent of the reference indices revaluation (indices taken into account are Mib 30-Milan, SMI-Zurich, Nikkei 225-Tokyo).
The bond issue main characteristics are:
"GLOBAL INDEX SERIE III" - your ever-favourable investment.
Issuer: Credito Valtellinese Minimum denomination: 10 million lire Overall amount: 15 billion lire Earmarking: Risparmio & Previdenza underwriting of an index-linked dealing, called "Global Index-Serie III", for Credito Valtellinese's customers. Placement: as from April 6 1998 Start of interest entitlement: May 8 1998 Term: 6 years (May 8 1998-May 8 2004) Repayment: dated single payment Issue price: 92 on 100 Redemption price: from a minimum of 112 on 100 (namely a gross annual nominal 2 per cent) to a maximum price obtained from 82 per cent revaluation of the reference indices). Indices: average revaluation of the three Stock Exchange indices Mib 30-Milan, SMI-Zurich, Nikkei 225-Tokyo, calculated on the base of monthly surveys until May 8 2004. 
