Bond Factsheet
STANLN 5.700% 26Mar2044 Corp (USD)
Standard Chartered PLC
Indicative
Full Lot
Bid Price 88.499
Change in Bid Price 0.426
Bid Yield (%) 6.838 %
Change in Bid Yield 0.046
Ask Price 89.024
Change in Ask Price 0.410
Ask Yield (%) 6.781 %
Change in Ask Yield 0.044
Indicative price as of 02 Oct 2026, 4:33pm
Bond Issuer
Standard Chartered PLC
Guarantor
-
Announcement Date
21 Mar 2014
Issue Date
26 Mar 2014
Maturity Date
26 Mar 2044
Years to Maturity / Next Call
17.484 / -
Modified Duration
10.507 @ 02 Oct 2026
Issue / Reoffer Price
99.800
Issue / Reoffer Yield
5.714
Coupon Type
Fixed
Annual Coupon Rate
5.700
Coupon Frequency
Semi Annually
Seniority
Subordinated
Capital Structure
Tier 2
Reference Rate
-
ISIN
XS1049699926
CUSIP
EK1427070
Bond Currency
USD
Total Issue Size
2,000,000,000
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)
***/ BBB+
Shariah Compliant
No
Exchange Listed
Others
Loss Absorption
Notes issued under the Programme may be subject to statutory write-down or bail-in powers
Under the Regulatory Capital Write-Down Powers in the proposed Directive on the recovery and resolution of banks and investment firms (the “RRD”), Resolution Authorities will have the power to write-down Tier 1 and Tier 2 Capital instruments issued by a bank or bank holding company before determining that the relevant institution has reached a point of non-viability (“PONV”) and, accordingly, taking any form of resolution action or applying any resolution power set out in the RRD. It is proposed under the RRD that Resolution Authorities will also have the power under the RRD to convert the interests of holders of writtendown Tier 1 and Tier 2 Capital instruments into Common Equity Tier 1 Capital instruments (e.g., ordinary shares) of the institution. The RRD is subject to the EU legislative process and may be amended before it is finalised, but it is currently proposed that any measures that are ultimately adopted in this connection will apply to Tier 1 and/or Tier 2 Capital instruments that are in issue on the date the RRD comes into force and, consequently, that no transitional rules will apply. Moreover, the RRD does not contain any explicit provisions regarding grandfathering of outstanding regulatory capital instruments.
It is also proposed under the RRD that Resolution Authorities will be able to exercise Bail-In Powers to write-down certain unsecured liabilities of banks and bank holding companies that meet the conditions for resolution (which include a determination that a PONV has been reached or is likely to be reached) or to convert such unsecured liabilities into equity, either to recapitalise the relevant Institution (subject to appropriate restructuring of the Institution’s business) or to provide capital for any bridge institution that the Resolution Authorities establish in connection with the resolution of the Institution. Subject to certain exemptions set out in the RRD (including secured liabilities, bank deposits guaranteed under an EU member state’s deposit guarantee scheme, liabilities arising by virtue of the holding of client money, liabilities to other non-group banks or investment firms that have an original maturity of fewer than seven days and certain other exceptions), it is intended that all liabilities of Institutions should potentially be ‘bailin- able’ (“Eligible Liabilities”). Resolution Authorities will apply the Bail-In Powers to the shares and other Eligible Liabilities of a failing Institution in accordance with a hierarchy prescribed by the RRD, pursuant to which, for example, subordinated debt instruments are to be written down or converted ahead of senior unsecured debt. The Bail-In Powers that are proposed to be given to Resolution Authorities include the ability to write-down or convert certain unsecured debt instruments into shares of the Institution, to reduce the outstanding amount due under such debt instruments (including reducing such amounts to zero) or to cancel such debt instruments. The RRD does not exempt Eligible Liabilities recognised or issued before a particular date from the scope of the Bail-In Powers, although it is currently proposed that transposition of the Bail-In Powers need not be carried out by Member States until at the latest four years after the entry into force of the Directive.
Additional Note
“Regulatory Capital Event” is deemed to have occurred if as a result of a change in law or regulation, or interpretation thereof applicable to the Notes occurring after the date on which agreement is reached to issue the first Tranche of the Notes including, amongst other things (but not limited to), as a result of amendments to Capital Regulations to give effect to Basel III and/or CRD IV, the whole of the outstanding principal amount of the Notes would not be eligible in full to form part of the Capital Resources of the Issuer under applicable Capital Regulations (save where such failure to be so eligible is solely (A) a result of any applicable limitation on the amount of such capital, or (B) in accordance with any requirement that recognition of the Notes as part of the Issuer's Capital Resources be amortised in the five years prior to maturity of the Notes, in either (A) or (B) in accordance with applicable Capital Regulations in force as at the date on which agreement is reached to issue the first Tranche of the Notes);
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