MFCCN 3.000% 21Nov2029 Corp (SGD)

Bond Factsheet

Matured/ Called

Manulife Financial Corp

Indicative

Full Lot

Bid Price

99.916

Change in Bid Price

remove 0.008

Bid Yield (%)

Change in Bid Yield

Ask Price

100.015

Change in Ask Price

remove 0.002

Ask Yield (%)

Change in Ask Yield

Indicative price as of 21 Nov 2024, 12:00am

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Bond Information

Manulife Financial Corporation provides financial protection products and investment management services to individuals, families, businesses, and groups. The Company conducts operations in Canada, the United States, and Asia, as well as reinsurance operations on a global basis. Manulife offers products such as annuities, pension products, life insurance, health insurance, and mutual funds.

Bond Issuer

Manulife Financial Corp

Guarantor

Announcement Date

14 Nov 2017

Issue Date

21 Nov 2017

Maturity Date

21 Nov 2029

Years to Maturity / Next Call

3.131 / 0.128

Modified Duration

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

3.000

Coupon Type

Variable

Annual Coupon Rate

3.000

Coupon Frequency

Semi Annually

Seniority

Subordinated

Reference Rate

Reset Date = 21 Nov 2024
Reset Rate = Prevailing 5Y SGD SOR plus the Initial Spread (83.2bps)

ISIN

XS1717080524

CUSIP

AQ0237612

Bond Currency

SGD

Total 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

Insurance

Issuer Credit Rating (S&P/ Fitch)

***/ A+

Bond Credit Rating (S&P/ Fitch)

***/ A-

Shariah Compliant

Exchange Listed

SGX

Bond Feature(s)

Issuer Call

MFC may, at its option, redeem the Notes, with the prior approval of the Superintendent, on not less than 30 nor more than 60 days' prior notice to the registered holder, in whole, but not in part, on the First Call Date and thereafter on each interest payment date at a redemption price equal to 100% of the principal amount thereof, together with accrued and unpaid interest to but excluding the date fixed for redemption. Unless MFC defaults in payment of the redemption price, the Notes will cease to accrue interest on their respective redemption date. Once redeemed by MFC, the Notes will be cancelled and will not be reissued.

The Notes may be redeemed at 100 on [21] November 2024 (First Call Date) and every interest payment date thereafter, subject to regulatory approval and as described in the Offering Circular

Additional Note

Redemption for Regulatory Event

If a Regulatory Event (as defined below) has occurred and is continuing, the Notes will be subject to redemption in whole, but not in part, at the option of MFC, with the prior approval of the Superintendent, at any time, on not less than 30 nor more than 60 days' prior written notice, at a redemption price equal to 100% of the principal amount thereof together with accrued and unpaid interest thereon to, but excluding, the redemption date.

A "Regulatory Event" is deemed to have occurred on the date specified in a letter from the Superintendent to MFC on which the Notes will no longer be recognised in full as eligible Tier 2 Capital of MFC or included as risk based Total Available Capital on a consolidated basis, such date falling on a day on or after the issue date, excluding, for the avoidance of doubt, non-recognition or non-inclusion solely by virtue of MFC already having in issue securities with an aggregate principal amount up to or in excess of the limit of Tier 2 Capital permitted from time to time by the Office of the Superintendent of Financial Institutions Canada ("OSFI") or solely as a result of any discounting requirements as to the eligibility of the Notes for such inclusion pursuant to the relevant requirements issued by OSFI.

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