Internal War Loans Belligerent Countries

Government of Switzerland
5% Federal Loan of 1914
Dated—December i, 1914.
(Second Mobilization Loan)
Due—Serially by drawings in sixteen equal annual installments
at par from December 1, 1919 to December 1, 1934.
Drawings take place September 1 of each year for payment
the following December 1.
Period of Subscription—November 2, 1914 to November 9,
1914.
Right of Redemption—Government reserves the right on or
after December 1, 1919, on three months' notice to repay
the loan on any interest date in whole or in part, or to
increase the annual drawings.
Interest Dates—June 1 and December 1.
Issue Price—100.
Form and Denomination—Coupon bonds in denominations of
100, 500 and 1,000 francs. Coupon bonds with an aggregate
par value of not less than 1,000 francs could be deposited
without charge at the Federal Treasury at Berne in exchange
for registered certificates.
Method of Subscription—This loan was underwritten by a
banking syndicate and subscriptions received by practically
all the banking institutions of Switzerland. Subscriptions
subject to reduction in proportion to oversubscription.
Method of Payment—Subscriptions upon allotment were payable
in installments 50% November 16, 1914, under discount
at the rate of 5% to December 1, 1914, and 50% January
15, 1915, plus interest at 5% from December 1, 1914.
Fiscal Service—Principal and interest payable in money of
Switzerland at the Federal Treasury at Berne, all Swiss
district post offices and custom houses, the Swiss National
Bank and its branches, all banks which were parties to the
underwriting agreement and other banks subsequently designated.
Taxation—Payment of principal and interest exempt from all
taxes, deductions or stamp duties of the Federal Government.
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