Oversea-Chinese Banking Corporation Limited
Indicative
Full Lot
Indicative price as of 19 Jun 2024, 12:00am
Bond Issuer
Oversea-Chinese Banking Corporation Limited
Guarantor
-
Announcement Date
12 Jun 2014
Issue Date
19 Jun 2014
Maturity Date
19 Jun 2024
Years to Maturity / Next Call
- / -
Modified Duration
-
Issue / Reoffer Price
99.108
Issue / Reoffer Yield
4.361
Coupon Type
Fixed
Annual Coupon Rate
4.250
Coupon Frequency
Semi Annually
Seniority
Subordinated
Capital Structure
Subordinated
Reference Rate
-
ISIN
US69033DAC11
CUSIP
69033DAC1
Bond Currency
USD
Total Issue Size
1,000,000,000
Min. Investment Quantity (Nominal)
USD 200,000
Incremental Quantity (Nominal)
USD 1,000
Bond Type
Corporate
Bond Sector
Financials
Bond Sub Sector
Banks
Issuer Credit Rating (S&P/ Fitch)
***/ AA-
Bond Credit Rating (S&P/ Fitch)
***/ W.R
Shariah Compliant
No
Exchange Listed
SGX
Classified as Tier 2 Capital Securities
If a Trigger Event occurs, the Issuer shall, upon the issue of a Trigger Event Notice, irrevocably and without the need for the consent of the Trustee or the holders of any Subordinated Notes, procure that the Registrar shall reduce the principal amount and cancel any accrued but unpaid interest of each Subordinated Note (in whole or in part) by an amount equal to the Trigger Event Write-off Amount per Subordinated Note (a "Write-off", and "Written-off" shall be construed accordingly).
Once any principal or interest under a Subordinated Note has been Written-off, it will be extinguished and will not be restored in any circumstances, including where the relevant Trigger Event ceases to continue. No Noteholder may exercise, claim or plead any right to any Trigger Event Write-off Amount, and each Noteholder shall be deemed to have waived all such rights to such Trigger Event Write-off Amount.
"Trigger Event" means the earlier of:
(i) MAS notifying the Issuer in writing that it is of the opinion that a Write-off or conversion is necessary, without which the Issuer would become non-viable; and
(ii) a decision by MAS to make a public sector injection of capital, or equivalent support, without which the Issuer would have become non-viable, as determined by MAS
"Trigger Event Write-off Amount" means the amount of interest and/or principal to be Written-off as the Issuer determines is required to be Written-off for the Trigger Event to cease to continue. For the avoidance of doubt, the Write-off will be effected in full even in the event that the amount Written-off is not sufficient for the Trigger Event to cease to continue.