Open Joint Stock Company ‘‘Severstal’’ (the ‘‘Borrower’’ or ‘‘Severstal’’)
with its registered office and business headquarters at Ul. Mira 30, 162600
Cherepovets, Russia
Offering
U.S.$375,000,000 9.25% Loan Participation Notes due 2014
Trustee
The Law Debenture Trust Corporation p.l.c.
Principal Paying Agent and Transfer Agent
Citibank, N.A., London Branch
Registrar
Citibank, N.A., London Branch
Paying Agent and Transfer Agent
Citibank, N.A. Agency & Trust
Luxembourg Paying Agent and Transfer Agent
Dexia Banque Internationale a`Luxembourg, socie´te´ anonyme
Issue Price of Notes
100 percent of the principal amount of Notes.
Settlement Date
19 April 2004
Maturity Date
19 April 2014
Interest
9.25% per annum
Security Codes
Applications have been made to admit the Notes to the Official List of the
UK Listing Authority and to trading on the London Stock Exchange’s market for
listed securities