Bond Factsheet
STANLN 6.187% 06Jul2027 Corp (USD)
Standard Chartered PLC
Indicative
Full Lot
Bid Price 100.013
Change in Bid Price 0.001
Bid Yield (%) -
Change in Bid Yield
-
Ask Price 100.014
Change in Ask Price 0.019
Ask Yield (%) -
Change in Ask Yield
-
Indicative price as of 06 Jul 2026, 12:00am
Bond Issuer
Standard Chartered PLC
Guarantor
-
Announcement Date
28 Jun 2023
Issue Date
06 Jul 2023
Maturity Date
06 Jul 2027
Years to Maturity / Next Call
0.749 / -
Modified Duration
-
Issue / Reoffer Price
100.000
Issue / Reoffer Yield
6.187
Coupon Type
Variable
Annual Coupon Rate
6.187
Coupon Frequency
Semi Annually
Seniority
Senior Unsecured
Capital Structure
Senior Unsecured
Reference Rate
Reset Date: 6 July 2026
Reset Rate: UST 1Y + Margin (1.850%)
ISIN
USG84228FU76
CUSIP
ZJ3567089
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)
***/ A
Bond Credit Rating (S&P/ Fitch)
***/ A
Shariah Compliant
No
Exchange Listed
Others
Loss Absorption
(a) Agreement and acknowledgement with respect to the exercise
Notwithstanding and to the exclusion of any other term of any Series of Notes or any other agreements, arrangements or understandings between the Issuer and any Noteholder (or the Trustee on behalf of the Noteholders), by its acquisition of the Notes, each Noteholder acknowledges and accepts that the Amounts Due arising under the Notes may be subject to the exercise of the UK Bail-in Power by the Resolution Authority, and acknowledges, accepts, consents, and agrees to be bound by:
(i) the effect of the exercise of the UK Bail-in Power by the Resolution Authority, that may include and result in any of the following, or some combination thereof:
(A) the reduction of all, or a portion, of the Amounts Due;
(B) the conversion of all, or a portion, of the Amounts Due in respect of the Notes into shares, other securities or other obligations of the Issuer or another person (and the issue to or conferral on the Noteholder of such shares, securities or obligations), including by means of an amendment, modification or variation of the terms of the Notes;
(C) the cancellation of the Notes; or
(D) the amendment or alteration of the maturity of the Notes or amendment of the amount of interest payable on the Notes, or the date on which the interest becomes payable, including by suspending payment for a temporary period;
(ii) the variation of the terms of the Notes, as determined by the Resolution Authority, to give effect to the exercise of the UK Bail-in Power by the Resolution Authority.
Redemption of Senior Notes at the option of the Issuer due to Loss Absorption Disqualification Event
If Loss Absorption Disqualification Event Call is provided hereon and immediately prior to the giving of the notice referred to below a Loss Absorption Disqualification Event has occurred and is continuing, then the Issuer may (with the permission of, or waiver from, the Relevant Regulator if required) redeem the Senior Notes in whole, but not in part, on any Interest Payment Date or, if so specified hereon, at any time, on giving not less than 15 nor more than 30 days' notice to the Noteholders in accordance with Condition 13 (which notice shall be irrevocable), at their Early Redemption Amount (together with any interest accrued to the date fixed for redemption).
In these Conditions:
a "Loss Absorption Disqualification Event" shall be deemed to have occurred in relation to any Series of Senior Notes if as a result of any:
(i) Loss Absorption Regulation becoming effective on or after the date on which agreement is reached to issue the most recently issued Tranche of such Series of Senior Notes; or
(ii) amendment to, or change in, any Loss Absorption Regulation, or any change in the application or official interpretation thereof, in any such case becoming effective on or after the date on which agreement is reached to issue the most recently issued Tranche of such Series of Senior Notes
Please refer 5(f) in Terms and Condition of the Notes in the Prospectus for more information.
Issuer Call
The Final Terms issued in respect of each issue of Notes will state whether such Notes may be redeemed prior to their stated maturity at the option of the relevant Issuer (either in whole or in part) and/or the Noteholders and if so, the terms applicable to such redemption.
If specified in the relevant Final Terms, subject to certain conditions, if 80 per cent. or more of the aggregate principal amount of the Notes originally issued has been redeemed and/or purchased or cancelled, then the Issuer may, at its option (without any requirement for the consent or approval of the Noteholders) redeem all (but not some only) of the Notes at any time at their principal amount, together with any accrued and unpaid interest to (but excluding) the date of redemption.
The Issuer may redeem the Notes in whole on the Optional Redemption Date at par, as further described in the Prospectus.
Optional Redemption Date: 6 July 2026 (3 years)
Clean-up redemption at the option of the Issuer
If Clean-up Call is specified hereon and if the Clean-up Call Threshold or more of the aggregate principal amount of the Notes originally issued (and, for these purposes, any further securities issued pursuant to Condition 12 will be deemed to have been originally issued) has been redeemed and/or purchased and cancelled, then the Issuer may (with the permission of, or waiver from, the Relevant Regulator if required), at its option (without any requirement for the consent or approval of the Noteholders), and having given not less than 15 nor more than 30 days' notice to the Trustee, the Paying Agent, the Registrar and, in accordance with Condition 13, the Noteholders (which notice shall be irrevocable and shall specify the date fixed for redemption), redeem all (but not only some) of the Notes on, or at any time after, the Clean-up Call Optional Redemption Date specified hereon. Any such redemption of Notes shall be at their Call Option Redemption Amount (together with any interest accrued to the date fixed for redemption).
The Issuer may redeem the Notes in whole, at any time in respect of the FXD Notes and on any Interest Payment Date in respect of the FRN Notes, at par, if 75 per cent. or more of the Notes have been redeemed, as further described in the Prospectus
Additional Note
Subject to applicable law, no Noteholder or Couponholder may exercise, claim or plead any right of set-off, counter-claim or retention in respect of any amount owed to it by the Issuer arising under or in connection with the Senior Notes, the Dated Subordinated Notes or the Coupons in respect of them and each Noteholder and Couponholder shall, by virtue of being the holder of any Senior Note, Dated Subordinated Note or, as the case may be, Coupon in relation to them, be deemed to have waived all such rights of such set-off, counter-claim or retention. Notwithstanding the preceding sentence, if any of the amounts owing to any Noteholder or Couponholder by the Issuer under or in connection with the Senior Notes and/or Dated Subordinated Notes is discharged by set-off, such Noteholder or Couponholder, as the case may be, shall, subject to applicable law, immediately pay an amount equal to the amount of such discharge to the Issuer or, in the event of its winding-up or administration, the liquidator or administrator, as appropriate, of the Issuer and, until such time as payment is made, shall hold an amount equal to such amount in trust for the Issuer, or the liquidator or administrator, as appropriate, of the Issuer (as the case may be) and accordingly any such discharge shall be deemed not to have taken place.
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