Prospectus UBI Banca Covered Bond Programme

More documents

Recommendations

Info

Prospectus Capital gains realised by non-Italian resident Covered Bondholders from the sale or redemption of Covered Bonds issued by an Italian resident issuer and traded on regulated markets are not subject to the imposta sostitutiva. Capital gains realised by non-Italian resident Covered Bondholders from the sale or redemption of Covered Bonds issued by an Italian resident issuer not traded on regulated markets are not subject to the imposta sostitutiva, provided that the effective beneficiary is: (a) (b) (c) (d) resident in a country which allows for a satisfactory exchange of information with Italy (i.e. a country included in the list of States, as per the decree referred to in Article 168 bis, paragraph 1 of Decree No. 917, allowing for an adequate exchange of information with the Italian tax Authorities); an international entity or body set up in accordance with international agreements which have entered into force in Italy; a Central Bank or an entity which manages, inter alia, the official reserves of a foreign State; or an "institutional investor", whether or not subject to tax, which is established in a country which allows for a satisfactory exchange of information with Italy (i.e. a country allowing for a satisfactory exchange of information with the Italian Tax Authorities according to the legislative provisions mentioned above). If none of the conditions above is met, capital gains realised by non-Italian resident Covered Bondholders from the sale or redemption of Covered Bonds issued by an Italian resident issuer and not traded on regulated markets are subject to the imposta sostitutiva at the current rate of 12.5 per cent. However, Covered Bondholders may benefit from an applicable tax treaty with Italy providing that capital gains realised upon the sale or redemption of the Covered Bonds are to be taxed only in the resident tax country of the recipient. Inheritance and gift taxes Transfers of any valuable asset (including shares, Covered Bonds or other securities) as a result of death or donation are taxed as follows: (a) (b) (c) transfers in favour of spouses and direct descendants or direct ancestors are subject to an inheritance and gift tax applied at a rate of 4 per cent. on the value of the inheritance or gift exceeding Euro1,000,000; transfers in favour of relatives to the fourth degree or relatives-in-law to the third degree are subject to an inheritance and gift tax at a rate of 6 per cent. on the entire value of the inheritance or the gift. Transfers in favour of brothers/sisters are subject to the 6 per cent. inheritance and gift tax on the value of the inheritance or gift exceeding Euro100,000; and any other transfer is subject to an inheritance and gift tax applied at a rate of 8 per cent. on the entire value of the inheritance or gift. Transfer tax Contracts relating to the transfer of securities are subject to a Euro 168 registration tax as follows: (i) public deeds and notarised deeds are subject to mandatory registration; (ii) private deeds are subject to registration only in the case of voluntary registration. EU Savings Directive Under EC Council Directive 2003/48/EC (the "EU Savings Directive") on the taxation of savings income, each Member State is required, from 1 July 2005, to provide to the tax authorities of another Member State details of payments of interest or other similar income (within the meaning of the EU Savings Directive) paid by a person within its jurisdiction to, or collected by such a person for an individual resident or certain limited types of entity established in that other Member State; however, for a transitional period, Austria, Belgium and Luxembourg are permitted to apply an optional information reporting system, whereby if a beneficial owner (within the meaning of the EU Savings Directive) does not comply with one of two procedures for information reporting, the relevant Member State will levy a withholding tax on payments to such beneficial owner. The withholding tax system applies for a transitional period during which the withholding tax rate will raise, over time, to 35 per cent. (20 per cent. from 1 July 2008 to 30 June 2011 and 35 per cent. as from 1 July 2011). The transitional period is to - 198 -
Prospectus terminate at the end of the first full tax year following agreement by certain non-EU countries to the exchange of information relating to such payments. Also with effect from 1 July 2005, a number of non-EU countries, including Switzerland and certain dependent or associated territories of certain Member States, have agreed to adopt similar measures (either provision of information or transitional withholding) in relation to payments made by a person within its jurisdiction to, or collected by such a person for an individual resident or certain limited types of entity established in a Member State. In addition, the Member States have entered into provision of information or transitional withholding arrangements with certain of those dependent or associated territories in relation to payments made by a person in a Member State to, or collected by such a person for an individual resident or certain limited types of entity established in one of those territories. On 13 November 2008, the European Commission published a proposal for amendments to the EU Savings Directive, which included a number of suggested changes which, if implemented, would broaden the scope of the requirements described above. Investors who are in any doubt as to their position should consult their professional advisers. Implementation in Italy of the Savings Directive Italy has implemented the Savings Directive through Legislative Decree No. 84 of 18 April 2005 (Decree No. 84). Under Decree No. 84, subject to a number of important conditions being met, for interest paid from 1 July 2005 to individuals which qualify as beneficial owners of the interest payment and are resident for tax purposes in another Member State, Italian qualified paying agents shall not apply the withholding tax. Instead, they shall report to the Italian Tax Authorities details of the relevant payments and personal information on the individual beneficial owner. Such information is transmitted by the Italian Tax Authorities to the competent foreign tax authorities of the State of residence of the beneficial owner. - 199 -
Page 1 and 2:
Prospectus UNIONE DI BANCHE ITALIAN
Page 3 and 4:
Prospectus Figures included in this
Page 5 and 6:
Prospectus INFORMATION INCORPORATED
Page 7 and 8:
Prospectus SUPPLEMENTS, FINAL TERMS
Page 9 and 10:
Prospectus Structure Overview • P
Page 11 and 12:
Prospectus on any Interest Payment
Page 13 and 14:
Prospectus the Conditions and the D
Page 15 and 16:
Prospectus deferral will occur auto
Page 17 and 18:
Prospectus AAA Aaa AAA Governing La
Page 19 and 20:
Prospectus Guarantee in respect of
Page 21 and 22:
Prospectus of each individual Cover
Page 23 and 24:
Prospectus Securitisation and Cover
Page 25 and 26:
Prospectus securities. Generally, t
Page 27 and 28:
Prospectus Catastrophic events, ter
Page 29 and 30:
Prospectus Reliance on Swap Provide
Page 31 and 32:
Prospectus There is no guarantee th
Page 33 and 34:
Prospectus • the right to request
Page 35 and 36:
Prospectus (e) Monte Titoli Mandate
Page 37 and 38:
Prospectus "Calculation Agent" mean
Page 39 and 40:
Prospectus "D 1 " is the first cale
Page 41 and 42:
Prospectus (ii) (iii) (iv) (v) an a
Page 43 and 44:
Prospectus "Optional Redemption Dat
Page 45 and 46:
Prospectus "Relevant Dealer(s) " me
Page 47 and 48:
Prospectus 4. Status and Guarantee
Page 49 and 50:
Prospectus (d) ISDA Determination I
Page 51 and 52:
Prospectus (b) Extension of maturit
Page 53 and 54:
Prospectus Bondholder. Once deposit
Page 55 and 56:
Prospectus withheld or assessed by
Page 57 and 58:
Prospectus (v) Invalidity of the Co
Page 59 and 60:
Prospectus all respects except for
Page 61 and 62:
Prospectus 1. GENERAL RULES OF THE
Page 63 and 64:
Prospectus "Voter" means, in relati
Page 65 and 66:
Prospectus 5. VALIDITY OF BLOCK VOT
Page 67 and 68:
Prospectus where applicable, modifi
Page 69 and 70:
Prospectus 15.2 The Chairman and a
Page 71 and 72:
Prospectus Removal and Remuneration
Page 73 and 74:
Prospectus TITLE III THE REPRESENTA
Page 75 and 76:
Prospectus 28.6 Discretions Save as
Page 77 and 78:
Prospectus 29.2.16 shall not, if in
Page 79 and 80:
Prospectus 30.7 Certificates of Par
Page 81 and 82:
Prospectus 32.5 Notice of waiver If
Page 83 and 84:
Prospectus FORM OF FINAL TERMS Set
Page 85 and 86:
Prospectus [Instalment] [The Covere
Page 87 and 88:
Prospectus (xv) Fall back provision
Page 89 and 90:
Prospectus (i) Optional Redemption
Page 91 and 92:
Prospectus These Final Terms compri
Page 93 and 94:
Prospectus 5. [Fixed Rate Covered B
Page 95 and 96:
Prospectus USE OF PROCEEDS The net
Page 97 and 98:
Prospectus Calabria, Vibo Valentia,
Page 99 and 100:
Prospectus (ix) a banking network o
Page 101 and 102:
Prospectus The actual Supervisory B
Page 103 and 104:
Prospectus Name Position Principal
Page 105 and 106:
Prospectus The Supervisory Board al
Page 107 and 108:
Prospectus General Management Name
Page 109 and 110:
Prospectus approvals from CONSOB an
Page 111 and 112:
Prospectus (thousands of Euro) UNIO
Page 113 and 114:
Prospectus (thousands of Euro) UNIO
Page 115 and 116:
Prospectus Defaulted and problem lo
Page 117 and 118:
Prospectus Introduction THE GUARANT
Page 119 and 120:
Prospectus Banca Popolare di Bergam
Page 121 and 122:
Prospectus ( * ) Member of Executiv
Page 123 and 124:
Prospectus Figures in thousands of
Page 125 and 126:
Prospectus Name Franco Bossoni( * )
Page 127 and 128:
Prospectus (In thousands of Euro) 3
Page 129 and 130:
Prospectus of the bank. In accordan
Page 131 and 132:
Page 133 and 134:
Prospectus Management Banca Regiona
Page 135 and 136:
Prospectus INCOME STATEMENT (In tho
Page 137 and 138:
Prospectus Detail of amounts due to
Page 139 and 140:
Page 141 and 142:
Prospectus Funding Banca Carime's p
Page 143 and 144:
Page 145 and 146:
Prospectus Funding Banca di Valle C
Page 147 and 148: Prospectus (In thousands of Euro) 3
Page 149 and 150: Prospectus Direct funding from cust
Page 153 and 154: Prospectus Direct funding from cust
Page 157 and 158: Prospectus Loans to customers as at
Page 159 and 160: Prospectus Covered Bond Guarantee S
Page 161 and 162: Prospectus Master Loans Purchase Ag
Page 163 and 164: Prospectus Master Servicer shall al
Page 165 and 166: Prospectus receive instructions fro
Page 167 and 168: Prospectus notice substantially in
Page 169 and 170: Prospectus price reasonably availab
Page 171 and 172: Prospectus Rating Downgrade Event U
Page 173 and 174: Prospectus in the name and on behal
Page 175 and 176: Prospectus CREDIT STRUCTURE The Cov
Page 177 and 178: Prospectus "Z" stands for the weigh
Page 179 and 180: Prospectus "Z" stands for the weigh
Page 181 and 182: Prospectus Pre-Issuer Event of Defa
Page 183 and 184: Prospectus (f) (g) (h) (i) Sixth, t
Page 185 and 186: Prospectus • the payment of which
Page 187 and 188: Prospectus DESCRIPTION OF CERTAIN R
Page 189 and 190: Prospectus The issuing bank The Ban
Page 191 and 192: Prospectus and the Covered Bond Gua
Page 193 and 194: Prospectus Finally the Prepayment P
Page 195 and 196: Prospectus authorised intermediary,
Page 197: Prospectus Where an Italian residen
Page 201 and 202: Prospectus and (3) an annual net tu
Page 203 and 204: Prospectus Listing and Admission to
Page 205 and 206: Prospectus GLOSSARY "Accounts" mean
Page 207 and 208: Prospectus "Commercial Mortgage Loa
Page 209 and 210: Prospectus guarantee) by an entity
Page 211 and 212: Prospectus "Initial Portfolio" mean
Page 213 and 214: Prospectus "Luxembourg BdB Interest
Page 215 and 216: Prospectus "Post-Enforcement Priori
Page 217 and 218: Prospectus "Representative of the C
Page 219 and 220: Prospectus "Transfer Date" means: (
Page 221: Prospectus PRINCIPAL PAYING AGENT T
show all

Prospectus UBI Banca Covered Bond Programme

Create successful ePaper yourself

Delete template?

Save as template?