SDLF 5.750% Perpetual Corp (GBP)

Bond Factsheet

Standard Life PLC

Indicative

Full Lot

Bid Price

97.827

Change in Bid Price

0.084

Bid Yield (%)

6.944 %

Change in Bid Yield

remove 0.045

Ask Price

98.413

Change in Ask Price

0.026

Ask Yield (%)

6.618 %

Change in Ask Yield

remove 0.013

Indicative price as of 30 Oct 2026, 3:49pm

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Bond Information

Phoenix Group Holdings PLC operates as a holding company. The Company, through its subsidiaries, provides life insurance and pension funds services. Phoenix Group Holdings serves customers in the United Kingdom.

Bond Issuer

Standard Life PLC

Guarantor

Announcement Date

19 Apr 2018

Issue Date

26 Apr 2018

Maturity Date

Perpetual

Years to Maturity / Next Call

Perpetual / 1.482

Modified Duration

1.388 @ 30 Oct 2026

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

5.750

Coupon Type

Variable

Annual Coupon Rate

5.750

Coupon Frequency

Semi Annually

Seniority

Junior Subordinated

Reference Rate

Reset Date: 26 Apr 2028 and every 5 Years thereafter
Reset Rate : Prevailing UK Govt Bonds 5 Year Note Generic Bid Yield + 4.169%

ISIN

XS1802140894

CUSIP

AS3039276

Bond Currency

GBP

Total Issue Size

500,000,000

Min. Investment Quantity (Nominal)

GBP 200,000

Incremental Quantity (Nominal)

GBP 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)

Loss Absorption

Solvency II Restricted Tier 1

Automatic Conversion

(a) Automatic Conversion upon Trigger Event occurring

The Notes are not convertible into Conversion Shares at the option of the Noteholders at any time. If a Trigger Event has occurred, the Issuer shall:

(i) immediately inform the PRA of the occurrence of the Trigger Event; and

(ii) without delay, give the Trigger Event Notice which notice shall be irrevocable.

Following the determination that a Trigger Event has occurred and, in any event, without delay, an Automatic Conversion shall occur and the Issuer shall deliver the Conversion Shares to the Conversion Shares Depositary (or such other relevant recipient as described below) on the Conversion Date.

Following such Automatic Conversion there shall be no reinstatement of any part of the principal amount of or interest on, the Notes at any time, including where the Trigger Event ceases to occur.

Effective upon, and following, the Automatic Conversion, the Issuer's obligation to repay the principal amount outstanding of each Note shall, without any further action required on the part of the Issuer or the Trustee, be irrevocably released and discharged and Noteholders shall not have any rights against the Issuer in a winding-up or administration of the Issuer or otherwise with respect to:

(i) repayment of the principal amount of the Notes or any part thereof;

(ii) the payment of any interest on the Notes for any period; or

(iii) any other amounts arising under or in connection with the Notes and/or the Trust Deed. Such Automatic Conversion shall take place without the need for the consent of Noteholders or the Trustee.

Deferral Interest Payment

Non-Cumulative Deferral

Interest on the Notes is due and payable only at the sole and absolute discretion of the Issuer and is subject to the provisions of Conditions 3(d), 5(b) and 6. Accordingly, the Issuer may at any time elect to cancel any Interest Payment (or any part thereof) which would otherwise be due and payable on any Interest Payment Date.

If the Issuer does not make an Interest Payment or part thereof on the relevant Interest Payment Date, such non-payment shall evidence the non-payment and cancellation of such Interest Payment (or relevant part thereof) by reason of it not being due in accordance with Condition 3(d), the cancellation of such Interest Payment in accordance with Condition 5(b), the cancellation of interest upon an Automatic Write Down in accordance with Condition 6 or, as appropriate, the Issuer's exercise of its discretion otherwise to cancel such Interest Payment (or relevant part thereof) in accordance with this Condition 5(a), and accordingly such interest shall not in any such case be due and payable.

Issuer Call

Provided that the Redemption and Purchase Conditions are met, the Issuer may, at its option, having given not less than 30 nor more than 60 days' notice to the Trustee, the Principal Paying Agent, the Registrar and, in accordance with Condition 13, the Noteholders (which notice shall (save as provided in Condition 8(o) below) be irrevocable and shall specify the date fixed for redemption) redeem all (but not some only) of the Notes, on the First Call Date or on any Interest Payment Date thereafter at their principal amount together with (to the extent that such interest has not been cancelled in accordance with these Conditions) any accrued and unpaid interest to (but excluding) the date of redemption.

Callable on 26 April 2028 and every 6 months thereafter at par.

Additional Note

Change of name from Phoenix Group Holdings plc to Standard Life plc has been registered at Companies House with effect from 24 February 2026.

Bondsupermart strives to ensure the accuracy and relevance of the information provided here. If the information is not up-to-date or erroneous, we appreciate feedback to keep it accurate.

Coupon Dates	Coupon Receive	Principal Amount	Cash Flow

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