Bond Factsheet
OCBCSP 1.832% 10Sep2030 Corp (USD)
Oversea-Chinese Banking Corporation Limited
Indicative
Full Lot
Bid Price 100.027
Change in Bid Price 0.001
Bid Yield (%) -
Change in Bid Yield
-
Ask Price 100.034
Change in Ask Price 0.001
Ask Yield (%) -
Change in Ask Yield
-
Indicative price as of 10 Sep 2025, 12:00am
Bond Issuer
Oversea-Chinese Banking Corporation Limited
Guarantor
-
Announcement Date
02 Sep 2020
Issue Date
10 Sep 2020
Maturity Date
10 Sep 2030
Years to Maturity / Next Call
3.933 / -
Modified Duration
-
Issue / Reoffer Price
100.000
Issue / Reoffer Yield
1.832
Coupon Type
Variable
Annual Coupon Rate
1.832
Coupon Frequency
Semi Annually
Seniority
Subordinated
Capital Structure
Subordinated
Reference Rate
Reset Date: 10 Sep 2025
Reset Rate: Prevailing 5-year U.S. Treasury Rate + Initial Margin (1.58%)
ISIN
US69033DAD93
CUSIP
69033DAD9
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/ MARC)
***/ AA-/ AAA
Bond Credit Rating (S&P/ Fitch/ MARC)
***/ A/ N.R
Shariah Compliant
No
Exchange Listed
SGX
Loss Absorption
Loss absorption event:
Earlier of (i) the MAS notifying the Issuer in writing that it is of the opinion that a write down 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
Write-down (Partial allowed):
- In respect of each Note, the Issuer shall reduce the principal amount and cancel any accrued but unpaid interest by an amount as the Issuer, (in accordance with the MAS), determines 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 the Notes will only occur after Additional Tier 1 Capital Securities with loss absorption features are fully written off or converted to equity, and pro rata and proportionate basis with all other Tier 2 Capital Securities with loss absorption features
- Write-down is permanent and irrevocable
Singapore bail-in power
Notwithstanding and to the exclusion of any other term of the Notes or any other agreements, arrangements, or understandings between the Issuer and the Trustee or any Noteholder, the Trustee and each Noteholder (which, for the purposes hereof, includes each holder of a beneficial interest in the Notes by its acquisition of the Notes acknowledges and accepts that the Notes (including but not limited to any Amounts Due thereunder), may be the subject of a Bail-in Certificate, and subject to the exercise of Bail-in Powers by the MAS under the MAS Act without any prior notice, and acknowledges, accepts, consents, and agrees to be bound by the exercise of any provision of the Bail-in Certificate in accordance with its terms (which will take effect without any other or further act by the Issuer and which shall be binding on the Issuer, the Trustee and each holder of any Notes), and the effect of the exercise of the Bail-in Powers by the Resolution Authority, that may include and result in one or more of the following: (a) the cancellation of the whole or a part of such Notes; (b) the modification, conversion or change in form of the whole or a part of such Notes; (c) that such Notes are to have effect as if a right of modification, conversion or change of their form had been exercised under them; and (d) any incidental and supplementary matters, including a requirement that the Issuer or any other person must comply with a general or specific direction set out in the Bail-in Certificate
Issuer Call
First Call Date: September 10, 2025
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