BAERVX 5.900% Perpetual Corp (SGD)

Bond Factsheet

Matured/ Called

Julius Baer Group Ltd

Indicative

Full Lot

Bid Price

100.000

Change in Bid Price

50.050

Bid Yield (%)

5.985 %

Change in Bid Yield

remove 112.004

Ask Price

100.200

Change in Ask Price

50.150

Ask Yield (%)

5.766 %

Change in Ask Yield

remove 111.772

Indicative price as of 25 Nov 2020, 12:00am

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Bond Information

Julius Baer Group Ltd. offers private banking services. The Bank advises on wealth management, financial planning, and investments, as well as offers mortgage and other lending, foreign exchange, securities trading, custody and execution services.

Bond Issuer

Julius Baer Group Ltd

Guarantor

Announcement Date

11 Nov 2015

Issue Date

18 Nov 2015

Maturity Date

Perpetual

Years to Maturity / Next Call

Perpetual / 0.046

Modified Duration

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

5.900

Coupon Type

Variable

Annual Coupon Rate

5.900

Coupon Frequency

Semi Annually

Seniority

Junior Subordinated

Capital Structure

Junior Subordinated

Reference Rate

Reset Date: 18Nov2020 & every 5yr thereafter
Reset Rate: 5-Yr SOR + Margin (3.32%)

ISIN

XS1322369338

CUSIP

QJ2754621

Bond Currency

SGD

Total Issue Size

Outstanding Issue Size

450,000,000

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)

***/ N.R

Bond Credit Rating (S&P/ Fitch)

***/ N.R

Shariah Compliant

Exchange Listed

SGX

Bond Feature(s)

Loss Absorption

If a Contingent Write-down has not previously occurred and a Writedown Trigger Event has occurred and is continuing on the relevant Subsequent Trigger Test Date, the claims of the Holders against the Issuer to receive repayment of the Original Notional Amount on the Redemption Date (if any) shall be reduced by the relevant Write-down Amount (such reduction, a "Contingent Write-down") and the Holders shall no longer have any rights whatsoever (including, but not limited to, any right to receive interest payments) against the Issuer with respect to the 2015 Tier 1 Bonds.

Reference from Offering Circular Dated 16 November 2015

Deferral Interest Payment

DISCRETIONARY INTEREST

The Issuer may, at its sole discretion but subject to Condition 2(c) below, elect to cancel all or part of any payment of interest which is otherwise scheduled to be paid on an Interest Payment Date or the Redemption Date (if any) by giving notice of such election to the Holders in accordance with Condition 12, and to the Principal Paying Agent, (i) in the case of interest otherwise due on an Interest Payment Date, not more than thirty (30) nor less than ten (10) Business Days prior to the relevant Interest Payment Date, or (ii) in the case of interest otherwise due on the Redemption Date, on the relevant Redemption Notice Date.

NON-CUMULATIVE

Any interest which is not paid, in accordance with this Condition 2(b), shall not accumulate or be payable at any time thereafter, and such non-payment will not constitute an event of default by the Issuer for the purpose of these Terms of the Bonds or any other purpose, and the Holders shall have no right thereto whether in a liquidation, dissolution, insolvency or bankruptcy of the Issuer or otherwise.

DIVIDEND STOPPER

If, on any Interest Payment Date, payment of interest scheduled to be made on such date is not made in full on the Prevailing Notional Amount by reason of Condition 2(b) or 2(c):
- The Board of Directors of the Issuer shall not directly or indirectly recommend to the shareholders of the Issuer, that any Distribution (other than in the form of Ordinary Shares or other capital stock) be paid or made on any Ordinary Shares or other capital stock of the Issuer; and
- The Issuer shall not directly or indirectly, redeem, purchase or otherwise acquire any Ordinary Shares or other capital stock of the Issuer other than ...

Reference from Offering Circular Dated 16 November 2015

Issuer Call

The Issuer may elect, in its sole discretion, to redeem the 2015 Tier 1 Bonds, in whole but not in part, on the First Call Date (18 November 2020) or on 18 November of each year thereafter, by giving not less than thirty (30) days' notice (the date on which such notice has been given, the "Optional Redemption Notice Date") to the Holders in accordance with Condition 12 and notifying the date fixed for redemption (the "Optional Redemption Date"), at their Prevailing Notional Amount together with any accrued interest, but unpaid to (but excluding) the Optional Redemption Date.

Upon the occurrence of a Regulatory Event, the Issuer may, at any time, redeem the 2015 Tier 1 Bonds, in whole but not in part, by giving not less than thirty (30) days' notice (the date on which such notice has been given, the "Regulatory Event Redemption Notice Date") to the Holders in accordance with Condition 12 and notifying the date fixed for redemption (the "Regulatory Event Redemption Date"), at their Prevailing Notional Amount together with any accrued, but unpaid interest to (but excluding) the Regulatory Event Redemption Date.

A Regulatory Event is deemed to have occurred if the Issuer is notified in writing by the Regulator to the effect that the 2015 Tier 1 Bonds are not eligible to be treated as Tier 1 Capital in whole or in part or if the National Regulations are amended with the effect that the 2015 Tier 1 Bonds are not eligible to be treated as Tier 1 Capital in whole or in part.

Reference from Offering Circular Dated 16 November 2015

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