Bond Factsheet
SDLF 4.016% 13Jun2026 Corp (GBP)
Standard Life PLC
Indicative
Full Lot
Bid Price 100.042
Change in Bid Price 0.001
Bid Yield (%) -
Change in Bid Yield
-
Ask Price 100.101
Change in Ask Price 0.004
Ask Yield (%) -
Change in Ask Yield
-
Indicative price as of 12 Jun 2026, 12:00am
Bond Issuer
Standard Life PLC
Guarantor
-
Announcement Date
06 Jun 2019
Issue Date
13 Jun 2019
Maturity Date
13 Jun 2026
Years to Maturity / Next Call
- / -
Modified Duration
-
Issue / Reoffer Price
100.000
Issue / Reoffer Yield
4.016
Coupon Type
Fixed
Annual Coupon Rate
4.016
Coupon Frequency
Semi Annually
Seniority
Subordinated
Reference Rate
-
ISIN
XS2012048281
CUSIP
AZ5832250
Bond Currency
GBP
Total Issue Size
250,000,000
Min. Investment Quantity (Nominal)
GBP 100,000
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)
***/ A-
Shariah Compliant
No
Exchange Listed
Others
Deferral Interest Payment
The Issuer will be required to defer any payments of interest on the Notes which would otherwise be due on any Interest Payment Date if (i) such payment cannot be made in compliance with the Solvency Condition or (ii) a Regulatory Deficiency Interest Deferral Event has occurred and is continuing or would occur if such payment of interest was made on such Interest Payment Date. See Condition 5(a) (Mandatory Deferral of Interest).
"Regulatory Deficiency Redemption Deferral Event" means (a) any event (including, without limitation, where an Insolvent Insurer Winding-up has occurred and is continuing or any event which causes any Solvency Capital Requirement or Minimum Capital Requirement applicable to the Issuer, the Issuer Group Parent Entity or the Issuer Group to be breached and such Insolvent Insurer Winding-up or, as the case may be, such breach is an event) which under the Relevant Rules means that the Issuer must defer or suspend redemption of the Notes; or (b) the PRA having notified the Issuer in writing that, in circumstances in which it is permitted to do so pursuant to and in accordance with the Relevant Rules, it has determined that the Issuer must defer making a payment of principal under the Notes and the PRA not having revoked such notification.
Issuer Call
Subject to Conditions 3(d), 6(b) and 6(h), if at any time after the Issue Date 80 per cent. or more of the aggregate principal amount of the Notes originally issued (and, for these purposes, any further securities issued pursuant to Condition 15 so as to be consolidated and form a single series with the Notes will be deemed to have been originally issued) has been purchased by the Issuer or any of its Subsidiaries and cancelled pursuant to these Conditions, then the Issuer may, at its option, having given not less than 30 nor more than 60 days’ notice to the Trustee, the Registrar, the Agents and, in accordance with Condition 16, the Noteholders (which notice shall specify the date set for redemption and, subject as aforesaid, be irrevocable), redeem all (but not some only) of the Notes at any time at their principal amount, together with Arrears of Interest, if any, and any other interest accrued to (but excluding) the date of redemption in accordance with these Conditions.
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.
Phoenix Group completes the acquisition of ReAssure Group plc.
Early Redemption at the Option of the Issuer for taxation reasons or upon the occurrence of a Capital Disqualification Event or Ratings Methodology Event
The Issuer may, subject to certain conditions and upon notice to Noteholders, at any time elect to redeem all (but not some only) of the Notes, at their principal amount together with Arrears of Interest (if any) and any other accrued and unpaid interest, (i) for taxation reasons as described in Condition 6(c) (Redemption, Substitution or Variation at the Option of the Issuer for Taxation Reasons), (ii) if a Capital Disqualification Event has occurred and is continuing or (iii) a Ratings Methodology Event has occurred and is continuing or the Issuer satisfies the Trustee that, as a result of any change in, or amendment to, or any change in the application of, any applicable methodology of the Rating Agency, a Ratings Methodology Event will occur within a period of six months. See “Terms and Conditions of the Notes – Redemption, Substitution, Variation, Purchase and Options”
Deferral of redemption date
The Issuer will be required to defer any scheduled redemption of the Notes (whether at maturity or if it has given notice of early redemption in the circumstances described below under "Early Redemption at the Option of the Issuer for taxation reasons or upon the occurrence of a Capital Disqualification Event or Ratings Methodology Event" or "Clean-up Call") if (i) the Issuer is not in compliance with the Solvency Condition, (ii) a Regulatory Deficiency Redemption Deferral Event has occurred and is continuing (or would occur if the Notes were redeemed on such date), (iii) the Regulatory Clearance Condition is not satisfied (to the extent then required under the Relevant Rules) in relation to such redemption and/or (iv) such redemption otherwise cannot be effected in compliance with the Relevant Rules on such date.
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