Business
Modification to 2018 Notes
Modification to 2018 Notes.
About this update from Nationwide Building Society
[{"type":"text","content":"\n \nRNS Number : 1537G Nationwide Building Society 27 February 2018 \n\n \nNationwide Building Society\n(incorporated in England under the Building Societies Act 1986, as amended)\n(the Society)\nNOTICE OF MODIFICATION\nto all holders of its outstanding\n£125,000,000 8 5/8 per cent. Subordinated Notes Due 2018 (ISIN: XS0047364947) (the Notes)\nNOTICE IS HEREBY GIVEN to the holders (the Noteholders) of the above Notes that pursuant to Clause 15 of the Trust Deed dated 21 November 1990 (the Principal Trust Deed) as supplemented by the Fourth Supplemental Trust Deed dated 29 November 1993 constituting the Notes (the Fourth Supplemental Trust Deed) Nationwide Building Society (the Society) and The Law Debenture Trust Corporation p.l.c. (the Trustee) have executed a Fifth Supplemental Trust Deed (the Supplemental Trust Deed) to give effect to the modifications to the terms and conditions of the Notes to amend the status and related provisions as set out in the following extract of the Supplemental Trust Deed with effect from 27 February 2018:\n\"2. The provisions of the Fourth Supplemental Trust Deed are hereby modified in relation to the Notes only as follows:\n(a) The reference to \"Subordinated\" (i) on the front page; (ii) in the definition of \"New Notes\" in Clause 2(A); (iii) in the Form of New Global Note in the First Schedule; (iv) in the Form of Definitive New Note in the Second Schedule; and (v) on the last page, is hereby deleted;\n(b) The reference to \"Subordinated\" in the first line of the first paragraph of the Terms and Conditions of the Notes as set out in the Second Schedule to the Fourth Supplemental Trust Deed is hereby deleted;\n(c) Condition 2 (Status and Subordination) of the Terms and Conditions of the Notes as set out in the Second Schedule is hereby deleted and replaced as follows:\n\"Condition 2. Status\nThe Notes and Coupons constitute direct, unconditional and unsecured obligations of the Society and rank pari passu and without any preference among themselves and (subject to any applicable statutory exceptions or preferences) at least equally with all othe...