STANLN 7.750% Perpetual Corp (USD)

Bond Factsheet

Matured/ Called

Standard Chartered PLC

Indicative

Full Lot

Bid Price

100.175

Change in Bid Price

Bid Yield (%)

7.732 %

Change in Bid Yield

Ask Price

100.175

Change in Ask Price

Ask Yield (%)

7.732 %

Change in Ask Yield

Indicative price as of 12 May 2023, 12:00am

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Bond Information

Standard Chartered PLC is an international banking group operating principally in Asia, Africa, and the Middle East. The Company offers its products and services in the personal, consumer, corporate, institutional and treasury areas.

Bond Issuer

Standard Chartered PLC

Guarantor

Announcement Date

11 Jan 2017

Issue Date

18 Jan 2017

Maturity Date

Perpetual

Years to Maturity / Next Call

Perpetual / 1.499

Modified Duration

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

7.754

Coupon Type

Variable

Annual Coupon Rate

7.750

Coupon Frequency

Semi Annually

Seniority

Junior Subordinated

Capital Structure

Junior Subordinated

Reference Rate

Reset Date = 02 April 2023 & every 5 years thereafter
Reset Rate = US$ mid swap rate + 5.723%

ISIN

USG84228CX43

CUSIP

AM1320879

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

High Yield Corporate

Bond Sector

Financials

Bond Sub Sector

Banks

Issuer Credit Rating (S&P/ Fitch)

***/ A

Bond Credit Rating (S&P/ Fitch)

***/ BBB-

Shariah Compliant

Exchange Listed

HKEX

Bond Feature(s)

Loss Absorption

Additional Tier 1

Conversion:If the Conversion Trigger Event occurs, each Security shall be automatically and irrevocably discharged and satisfied by its Conversion into Ordinary Shares, credited as fully paid, and the issuance of such Ordinary Shares to the Conversion Shares Depositary to be held on trust for the Securityholders. The Conversion shall occur without delay upon the occurrence of a Conversion Trigger Event

Conversion Trigger Event: The Conversion Trigger Event shall occur at any time the CET1 Ratio is less than 7.00 per cent. The CET1 Ratio is calculated on a consolidated and fully loaded basis.

The Issuer shall issue and deliver to the Conversion Shares Depositary on the Conversion Date a number of Ordinary Shares in respect of each Security determined by dividing the principal amount of such Security by the Conversion Price prevailing on the Conversion Date, subject to Condition 7(l). The "Conversion Price" per Ordinary Share in respect of the Securities is U.S.$7.732, subject to adjustment in the circumstances described in Condition 7(e). Once a Security has been converted into Ordinary Shares, there is no provision for the reconversion of such Ordinary Shares back into Securities.

Deferral Interest Payment

The Issuer shall cancel any Interest Payment (or, as appropriate, part thereof) on the Securities in accordance with this Condition 6 in respect of any Interest Payment Date to the extent that the Issuer has an amount of Distributable Items on such Interest Payment Date that is less than the sum of (i) all payments (other than redemption payments which do not reduce Distributable Items) made or declared by the Issuer since the end of the last financial year of the Issuer and prior to such Interest Payment Date on or in respect of any Parity Securities, the Securities and any Junior Securities and (ii) all payments (other than redemption payments which do not reduce Distributable Items) payable by the Issuer (and not cancelled or deemed cancelled) on such Interest Payment Date (x) on the Securities (including any Additional Amounts which would be payable by the Issuer in respect of the Interest Payment payable on such Interest Payment Date if such Interest Payment were not cancelled or deemed cancelled) and (y) on or in respect of any Parity Securities or any Junior Securities, in the case of each of (i) and (ii), excluding any payments already accounted for in determining the Distributable Items of the Issuer.

NON CUMULATIVE

Any Interest Payment (or relevant part thereof) which is cancelled in accordance with this Condition 6 or which is otherwise not due in accordance with Condition 4(a) or Condition 7(c) shall not become due and shall not accumulate or be payable at any time thereafter, and Holders of the Securities shall have no rights in respect thereof and any such cancellation or non-payment shall not constitute a default or event of default on the part of the Issuer for any purpose.

Issuer Call

At the Issuer’s option, subject to certain conditions (including regulatory consent), at par plus accrued and unpaid interest in full on the First Reset Date (02 April 2023) or any Reset Date thereafter.

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