Bonds | Savings | Ameriabank
My Ameria
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All you need to know about bonds

The Bank issues bonds to raise funds from the public for a specific period. You, as well, may become an investor and obtain interest by purchasing bonds on a regular basis. At the end of the term, you will get the amount of your investment (face value of bonds) back.


Investments in corporate bonds issued by banks are insured by the Deposit Guarantee Fund in the same way as bank deposits.


Once the placement is complete, you may sell the bonds as soon as they are listed on the stock exchange. Typically, bonds are listed within 15-20 days after placement. 


Even if you decide to sell your bonds you will still obtain interest.

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How to buy a bond


What is a bond issued by bank?

The Bank issues bonds to raise funds from the public for a specific period of time. We pay interest to bondholders in a form of coupons on a regular basis. The face value of bonds is paid at maturity.

What is bond placement?

Placement is the initial sale of bonds to investors

How many bonds can I buy?

Generally, investors have to buy at least one bond. The investment cap is typically limited to the number of bonds issued, however, the issuer may introduce limits to the maximum number of bonds to be bought by one investor. Note that the number of bonds that can be purchased can only be expressed in integers.

How long does bond placement last?

Typically, a placement requires 2 to 3 months to be completed.

Does the bond price remain the same as its face value during the entire placement period?

Yes, however, note that bonds are sold to investors together with coupons accrued.

What do I need to sell bonds on stock exchange?

In order to sell bonds on the stock exchange, you will need to access brokerage services. Learn more.

What are the costs associated with sale of bonds?

The following costs are associated with the sale of bonds:

  • Brokerage fee: 0.1% of the trade value, min. AMD 5,000
  • Stock exchange fee: 0.005% of the trade value

How many days will it take to sell bonds?

The period of selling bonds depends on several factors:

  • Number of bonds you want to sell
  • Whether there are buyers in the market interested in that specific number of bonds

May I return or resell bonds back to the Bank?

No, once the investor purchases bonds, he/she cannot sell them back to the issuer.

May I sell my bonds to another person?

Yes, you can sell your bonds to another person.

May I sell bonds on secondary market at any point in time?

Selling bonds on the secondary market depends on several factors:

  • Number of bonds you would like to sell
  • Price, at which you are willing to sell the bonds

The minimum daily quotation provided by the market maker is 1% of the total number of bonds of the given category.

May I purchase bonds again after they reach maturity?

Yes, you can purchase bonds after maturity if there are current placements at that time. You can also use broker services to purchase bonds on the secondary market.

May I pledge bonds?

Yes, you can pledge bonds.

How can I get information on daily prices of bonds?

If you buy bonds during their initial placement (before they are listed on the stock exchange) you can learn about prices on the official website of the Bank. After listing, you can obtain information on the previous day’s price of bonds from your broker.

May I buy bonds for a term of my choice?

No, investors are bound to the maturity periods specified in terms of issue. However, you can sell all or some of your bonds before maturity.

In what currency will I receive interest?

Interest is paid in Armenian drams at the average exchange rate of the Central Bank of Armenia as of the day before.

Will I lose the interest, if I sell my bonds before next coupon payment date?

No, you purchase bonds together with interest accrued.

What is the price at which I will be able to sell bonds?

Listed bonds already have a market price, which may differ from the placement one. The market price can be higher or lower than the face value of bonds. Quotations are typically provided by the market maker and depend on the supply and demand for bonds.

Is the amount of bonds insured?

Investments in corporate bonds issued by banks are insured by the Deposit Guarantee Fund in the same way as bank deposits.

How often does the Bank issue and place bonds?

There is no fixed schedule, however, Ameriabank issues bonds quite frequently and in this respect, it is the most active issuer in Armenia.

Is income received from bonds taxable?

According to the Tax Code of the Republic of Armenia, interest on listed bonds owned by the resident and non-resident individuals and non-resident legal entities is not taxable.


  • Face value of bonds

A value, at which a bond is issued and repaid. E.g., AMD 100,000

  • Quantity of issued bonds

E.g., 50,000 bonds

  • Total value of the issue 

The face value of bonds multiplied by their quantity. E.g., 100,000*50,000 = AMD 5,000,000,000

  • Maturity

A period, for which bonds are issued. E.g., 27 months

  • Coupon

The interest rate of the bond. E.g., 9% per annum

  • Coupon payment 

The interest paid to the investor, calculated based on the face value of the bond. E.g., 100,000*9% = AMD 9,000

  • Frequency of payment

Frequency of coupon payments.

  • Market yield/interest rate

An interest rate, a change of which affects the price of bonds. During the placement, the market rate is equal to the coupon rate of the bond, i.e. within the period when bonds are sold at the face value.

Last updated on 28.09.2021, 10:46