The issuing organization is the party that pays the principal and interest of the bond through the Payment Agent. In case NVS is also the Bond Payment Agent, after receiving the money from the issuing organization, NVS will distribute the money to the bondholders according to the ownership ratio and according to the provisions of the Bond Terms and Conditions.

The principal and interest of the bond will be transferred to the customer’s account registered at NVS when conducting the bond purchase and sale transaction.