UOBSP 3.500% 27Feb2029 Corp (SGD)

Bond Factsheet

Matured/ Called

United Overseas Bank Limited (UOB)

Indicative

Full Lot

Bid Price

100.016

Change in Bid Price

0.016

Bid Yield (%)

Change in Bid Yield

Ask Price

100.092

Change in Ask Price

remove 0.014

Ask Yield (%)

Change in Ask Yield

Indicative price as of 27 Feb 2024, 12:00am

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Bond Information

United Overseas Bank Limited provides a wide range of financial services including personal financial services, wealth management, private banking, commercial and corporate banking, transaction banking, investment banking, corporate finance, capital market activities, treasury services, futures broking, asset management, venture capital management and insurance.

Bond Issuer

United Overseas Bank Limited (UOB)

Guarantor

Announcement Date

20 Feb 2017

Issue Date

27 Feb 2017

Maturity Date

27 Feb 2029

Years to Maturity / Next Call

2.409 / -

Modified Duration

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

3.500

Coupon Type

Variable

Annual Coupon Rate

3.500

Coupon Frequency

Semi Annually

Seniority

Subordinated

Capital Structure

Subordinated

Reference Rate

Reset Rate: 5Y SGD SOR + Initial Spread (1.08%)
Reset Date: Year 7

ISIN

SG79A8000002

CUSIP

AM5815528

Bond Currency

SGD

Total Issue Size

750,000,000

Min. Investment Quantity (Nominal)

SGD 250,000

Incremental Quantity (Nominal)

SGD 250,000

Bond Type

Corporate

Bond Sector

Financials

Bond Sub Sector

Banks

Issuer Credit Rating (S&P/ Fitch)

***/ AA-

Bond Credit Rating (S&P/ Fitch)

***/ A

Shariah Compliant

Exchange Listed

SGX

Bond Feature(s)

Loss Absorption

Tier 2

LOSS ABSORPTION EVENT: Earlier of the MAS notifying the Issuer in writing (i) that it is of the opinion that a write down or conversion is necessary, without which the Issuer would become non-viable or (ii) of its decision to make a public sector injection of capital, or equivalent support, without which the Issuer would have become non-viable, as determined by MAS

WRITE–DOWN (PARTIAL ALLOWED):

In respect of each Tier 2 Subordinated Note, the Issuer shall reduce the principal amount and cancel any accrued but unpaid interest by an amount as the Issuer shall, in consultation with the MAS, determine or as the MAS may direct, which is required to be reduced and cancelled for the Issuer to cease to be non-viable
Write-down of Tier 2 securities will only occur after Additional Tier 1 Capital Securities with loss absorption features are fully written off or converted to equity, and pro rata with all other Tier 2 Capital Securities with loss absorption features
Write–down is permanent and irrevocable

Issuer Call

One-time issuer call option at par in year 7 (27 February 2024), subject to prior consent of the MAS.

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