OCBCSP 3.800% Perpetual Corp (SGD)

Bond Factsheet

Matured/ Called

Oversea-Chinese Banking Corporation Limited

Indicative

Full Lot

Bid Price

100.063

Change in Bid Price

remove 0.062

Bid Yield (%)

3.831 %

Change in Bid Yield

Ask Price

100.163

Change in Ask Price

0.038

Ask Yield (%)

3.827 %

Change in Ask Yield

Indicative price as of 26 Aug 2020, 12:00am

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Bond Information

Oversea-Chinese Banking Corporation Limited offers a comprehensive range of financial services. The Company's services include deposit-taking, corporate, enterprise and personal lending, international trade financing, investment banking, private banking, treasury, stockbroking, insurance, credit cards, cash management, asset management and other financial and related services.

Bond Issuer

Oversea-Chinese Banking Corporation Limited

Guarantor

Announcement Date

18 Aug 2015

Issue Date

25 Aug 2015

Maturity Date

Perpetual

Years to Maturity / Next Call

Perpetual / -

Modified Duration

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

3.800

Coupon Type

Variable

Annual Coupon Rate

3.800

Coupon Frequency

Semi Annually

Seniority

Junior Subordinated

Capital Structure

Junior Subordinated

Reference Rate

Reset Rate=5Yr SGD SOR + Initial Spread (1.51%)
Reset Date= 25August2020

ISIN

SG6YJ3000003

CUSIP

UV5436414

Bond Currency

SGD

Total Issue Size

Outstanding Issue Size

500,000,000

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)

***/ BBB+

Shariah Compliant

Exchange Listed

SGX

Bond Feature(s)

Loss Absorption

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 Securityholders, procure that the Registrar shall reduce the principal amount and cancel any accrued but unpaid Distribution of each Capital Security (in whole or in part) by an amount equal to the Trigger Event Write-off Amount per Capital Security (a "Write-off", and "Written-off" shall be construed accordingly), save that the Trigger Event Write-off Amount per Capital Security shall not exceed the prevailing principal amount and accrued but unpaid Distribution of such Capital Security.

"Trigger Event" Means the earlier of:

the MAS notifying the Issuer in writing that it is of the opinion that a Write-off is necessary, without which the Issuer would become non-viable; and
a decision by the MAS to make a public sector injection of capital, or equivalent support, without which the Issuer would have become non-viable, as determined by the MAS.

Reference from Preliminary Offering Circular Dated 18 August 2015

Deferral Interest Payment

The Issuer may, at its sole discretion, elect to cancel any Distribution which is otherwise scheduled to be paid on a Distribution Payment Date by giving notice (such notice, which shall be conclusive and binding on the Securityholders, a "Distribution Cancellation Notice") of such election to the Securityholders in accordance with Condition 16, the Trustee and the Agents at least 10 business days prior to the relevant Distribution Payment Date.

Reference from Preliminary Offering Circular Dated 18 August 2015

Issuer Call

Subject to Condition 7(f), the Capital Securities may be redeemed at the option of the Issuer in whole, but not in part, at any time on or after the First Reset Date (25 August 2020), on giving not less than 30 but not more than 60 days' irrevocable notice to the Securityholders and the Trustee (which notice shall be irrevocable), at the Redemption Amount.
Reference from Preliminary Offering Circular Dated 18 August 2015

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