PRUFIN 4.375% Perpetual Corp (USD)

Bond Factsheet

Matured/ Called

Prudential PLC

Indicative

Full Lot

Bid Price

100.000

Change in Bid Price

Bid Yield (%)

4.440 %

Change in Bid Yield

Ask Price

100.000

Change in Ask Price

Ask Yield (%)

4.440 %

Change in Ask Yield

Indicative price as of 28 Jan 2022, 12:00am

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Bond Information

Prudential Public Limited Company provides long term savings and protection products. The Company offers life and health insurance for long term business including asset management services. Prudential serves customers in Asia and Africa.

Bond Issuer

Prudential PLC

Guarantor

Announcement Date

05 Sep 2016

Issue Date

13 Sep 2016

Maturity Date

Perpetual

Years to Maturity / Next Call

Perpetual / 0.043

Modified Duration

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

4.375

Coupon Type

Fixed

Annual Coupon Rate

4.375

Coupon Frequency

Quarterly

Seniority

Subordinated

Reference Rate

ISIN

XS1488414464

CUSIP

QZ4497231

Bond Currency

USD

Total Issue Size

Outstanding Issue Size

725,000,000

Min. Investment Quantity (Nominal)

USD 200,000

Incremental Quantity (Nominal)

USD 1,000

Bond Type

Corporate

Bond Sector

Financials

Bond Sub Sector

Insurance

Issuer Credit Rating (S&P/ Fitch)

***/ A

Bond Credit Rating (S&P/ Fitch)

***/ BBB+

Shariah Compliant

Exchange Listed

Others

Bond Feature(s)

Deferral Interest Payment

Payments of interest under the Tier 2 Notes are conditional on (i) the Issuer satisfying the Solvency Condition both at the time of payment and immediately thereafter and (ii) both the Solvency Capital Requirement and the Minimum Capital Requirement being met both at the time of payment and immediately thereafter.

In addition, the Issuer may elect to defer the payment of interest on the Notes on any Interest Payment Date.

Interest Payment Date which is not a Compulsory Interest Payment Date at its sole discretion. In addition, the Issuer may, at its election, defer any payment of interest on any Interest Payment Date.

Interest Payment Date which is not a Compulsory Interest Payment Date where it determines (by reference to the Issuer's then current financial condition) at its sole discretion that (i) the Capital Adequacy Condition will not be met both at the time of and immediately after making the relevant interest payment or (ii) it is required under the terms of any Parity Security issued prior to 1 January, 2016 to defer the relevant interest payment.

Any payments of interest not made for one or more of the reasons set out above will, so long as they remain unpaid, constitute Arrears of Interest. No interest will accrue on Arrears of Interest. At the option of the Issuer, but subject to satisfying the Solvency Condition, the Solvency Capital Requirement and the Minimum Capital Requirement at the time of such payment and immediately thereafter unless otherwise permitted by the PRA, Arrears of Interest may be settled by the Issuer at any time and shall otherwise become payable on redemption of the Tier 2 Notes or, on purchase of the Tier 2 Notes by or on behalf of the Issuer or upon commencement of the winding-up of the Issuer.

Issuer Call

The Tier 2 Notes may, at the Issuer's election, be redeemed early on the first Interest Payment Date falling after the fifth anniversary of the Issue Date and each Interest Payment Date thereafter at 100 per cent. of their nominal amount.

First Call Date: 20 Oct 2021

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