Business
Pricing of $1bn 2.95% subordinated notes
Pricing of $1bn 2.95% subordinated notes.
About this update from Prudential Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 4738Q\n Prudential PLC\n 27 October 2021\n \n \n \n \n \n Prudential plc\n \n \n \n \n \n Successful pricing of US$1,000,000,000 2.95 per cent. Subordinated Notes due 3 November 2033 by Prudential plc (\"Prudential\")\n \n \n \n \n \n Further to the announcement of 25 October 2021, Prudential today announces that it has successfully priced US$1,000,000,000 2.95 per cent. Subordinated Notes due 3 November 2033 (the \"Notes\") to be issued pursuant to Prudential's US$10,000,000,000 Medium Term Note Programme. \n \n \n \n \n \n A summary of the principal terms of the Notes is set out below for the purposes of information only, and will be qualified by the more detailed information to be contained in the Final Terms relating to the Notes (the \"Final Terms\"), which will be made available in due course, and should be read in conjunction with the prospectus dated 21 September 2021 relating to Prudential's US$10,000,000,000 Medium Term Note Programme (the \"Prospectus\").\n \n \n \n \n \n · \n \n Issuer:\n \n Prudential plc\n \n \n · \n \n Issue date:\n \n 3 November 2021 (the \"Issue Date\")\n \n \n · \n \n Maturity date:\n \n 3 November 2033\n \n \n · \n \n Aggregate nominal amount:\n \n US$ 1,000,000,000\n \n \n · \n \n Rate of interest:\n \n 2.95 per cent. per annum payable semi-annually in arrear, subject to reset on the seventh anniversary of the Issue Date (as defined above)\n \n \n · \n \n Ratings:\n \n A- (S&P) / A3 (Moody's)\n \n \n · \n \n Listing / trading venue:\n \n FCA Official List / London Stock Exchange's Regulated Market\n \n \n · \n \n Capital qualification:\n \n Intended to qualify as Tier 2 group capital of Prudential under the Insurance (Group Capital) Rules of Hong Kong (Cap. 41O of the Laws of Hong Kong).\n \n \n \n \n \n As announced on 25 October 2021, the expected use of proceeds of the issuance is general corporate purposes including the planned redemption of Prudential's US$725 million 4.375 per cent. Undated Tier 2 Notes (ISIN: XS1488414464).\n \n \n \n \n \n This announcement is not provided for, or directed at, persons in the United States. \n \n \n \n \n \n Enquiries to:\n \n \n \n \n \n \n \n \n Media:\n \n \n \n \n \n \n \n \n \n \n \n Investors/Analysts:\n \n \n \n \n \n \n \n \n \n \n \n \n \n Addy Frede...