Bond Factsheet
STANLN 5.300% Perpetual Corp (SGD)
Standard Chartered PLC
Indicative
Full Lot
Bid Price 101.750
Change in Bid Price
-
Bid Yield (%) 4.657 %
Change in Bid Yield 0.001
Ask Price 102.250
Change in Ask Price
-
Ask Yield (%) 4.477 %
Change in Ask Yield
-
Indicative price as of 06 Oct 2026, 4:04pm
Ask Yield to Worst
Bid Yield to Worst
Ask Yield to Maturity
Bid Yield to Maturity
Bond Issuer
Standard Chartered PLC
Guarantor
-
Announcement Date
10 Sep 2024
Issue Date
19 Sep 2024
Maturity Date
Perpetual
Years to Maturity / Next Call
Perpetual / 2.957
Modified Duration
2.706 @ 06 Oct 2026
Issue / Reoffer Price
100.000
Issue / Reoffer Yield
5.300
Coupon Type
Variable
Annual Coupon Rate
5.300
Coupon Frequency
Semi Annually
Seniority
Junior Subordinated
Capital Structure
Additional Tier 1
Reference Rate
Reset Date: 19 March 2030 and every 5 years thereafter
Reset Rate:5YR SORA OIS + Margin (3.077%)
ISIN
XS2845033682
CUSIP
YV7008571
Bond Currency
SGD
Total Issue Size
750,000,000
Min. Investment Quantity (Nominal)
SGD 250,000
Incremental Quantity (Nominal)
SGD 250,000
Bond Type
High Yield Corporate
Bond Sector
Financials
Bond Sub Sector
Banks
Issuer Credit Rating (S&P/ Fitch)
***/ A
Bond Credit Rating (S&P/ Fitch)
***/ BBB-
Shariah Compliant
No
Exchange Listed
Others
Loss Absorption
The Securities may be subject to the exercise of regulatory capital write-down and conversion powers, bail-in resolution powers or other powers by a relevant resolution authority or other government authorities.
Potential investors should also consider the risk that a Securityholder may lose all of its investment in the Securities and all of its claims to unpaid interest. Any principal, interest or other amounts written-off as a result of the application of either regulatory capital write-down or conversion powers or bail-in resolution powers would be irrevocably lost and holders of such Securities would cease to have any claims for: (i) the written-off principal amount of the Securities; and (ii) any unaccrued obligations or claims arising in relation to such amounts. In circumstances where the BoE (as the Resolution Authority) uses its bail-in resolution powers to reduce part of the principal amount of the Securities, the terms of the Securities would continue to apply in relation to the residual principal amount, subject to any modification to the amount of interest payable to reflect the reduction of the principal amount. Regulatory capital write-down or conversion powers or bailin resolution powers could also be exercised in respect of the Securities without the Securityholders receiving any Ordinary Shares or other compensation for the loss of their investment in the Securities. The Banking Act provides that, other than in certain limited circumstances as set out in the Banking Act, extraordinary governmental financial support will only be available to the Issuer as a last resort once all resolution tools, including the bail-in resolution powers above, have been exploited to the maximum extent possible. Accordingly, it is unlikely that Securityholders will benefit from such support even if it were provided.
Conversion
If a Conversion Trigger Event occurs, each Security shall be automatically and irrevocably discharged and satisfied by itsConversion into Ordinary Shares, credited as fully paid, and the issuance of such Ordinary Shares to the Conversion SharesDepositary to be held on trust for the Securityholders. The Conversion shall occur without delay upon the occurrence of a a Conversion Trigger Event.
Conversion Trigger Event
The Conversion Trigger Event shall occur at any time the CET1 Ratio is less than 7.00% The CET1 Ratio is calculated on aconsolidated and fully loaded basis.
Conversion Price
The Conversion Price per Ordinary Share in respect of the Securities is SGD [TBD], subject to certain anti-dilutionadjustments. As at the date of this announcement, the Conversion Price is equivalent to a price of £ [TBD], translated intoSingapore Dollars at an exchange rate of £ 1 = SGD [TBD].
Conversion Shares Offer
Not later than the 10th London business day following the Conversion Date, the Issuer may elect in its sole and absolutediscretion that the Conversion Shares Depositary makes an offer of all or some of the Ordinary Shares to be delivered onConversion to all or some of the Issuer’s Shareholders, at a cash price per Ordinary Share no less than the ConversionPrice.
Deferral Interest Payment
(a) Interest Payments Discretionary Interest on the Securities is due and payable only at the sole and absolute discretion, subject to Conditions 4(a), 6(b) and 7(c), of the Issuer. Accordingly, the Issuer may at any time elect to cancel any Interest Payment (or any part thereof) which would otherwise be 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 either the non-payment and cancellation of such Interest Payment (or relevant part thereof) by reason of it not being due in accordance with Condition 4(a), the cancellation of such Interest Payment (or relevant part thereof) in accordance with Condition 6(b) or 7(c) 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 6(a), and accordingly such interest shall not in any such case be due and payable.
Non-accumulative
Any Interest Payment (or relevant part thereof) which is cancelled in accordance with this Condition 6 or which is otherwise not due in accordance with Condition 4(a) or Condition 7(c) shall not become due and shall not accumulate or be payable at any time thereafter, and Securityholders shall have no rights in respect thereof and any such cancellation or non-payment shall not constitute a default or event of default on the part of the Issuer for any purpose.
Restrictions on Interest Payments
The Issuer shall cancel any Interest Payment (or, as appropriate, part thereof) on the Securities in accordance with this Condition 6 in respect of any Interest Payment Date to the extent that the Issuer has an amount of Distributable Items on such Interest Payment Date that is less than the sum of (i) all payments (other than redemption payments which do not reduce Distributable Items) made or declared by the Issuer since the end of the last financial year of the Issuer and prior to such Interest Payment Date on or in respect of any Parity Securities, the Securities and any Junior Securities and (ii) all payments (other than redemption payments which do not reduce Distributable Items) payable by the Issuer (and not cancelled or deemed cancelled) on such Interest Payment Date (x) on the Securities (including any Additional Amounts which would be payable by the Issuer in respect of the Interest Payment payable on such Interest Payment Date if such Interest Payment were not cancelled or deemed cancelled) and (y) on or in respect of any Parity Securities or any Junior Securities, in the case of each of (i) and (ii), excluding any payments already accounted for in determining the Distributable Items of the Issuer.
The Issuer shall be responsible for determining compliance with this Condition 6(b) and neither the Trustee nor any Paying and Conversion Agent, Transfer Agent, Interest Calculation Agent or Conversion Calculation Agent shall be required to monitor such compliance or to perform any calculations in connection therewith.
Issuer Call
Additional Note
If at any time a Capital Disqualification Event has occurred, then the Issuer may, subject to Conditions 4(a), 8(b) and 8(f) and having given not less than 30 nor more than 60 days' notice to the Securityholders in accordance with Condition 17, the Trustee, the Principal Paying and Conversion Agent and the Registrar (which notice shall, subject as provided in Conditions 4(a), 8(b) and 8(f), be irrevocable), redeem in accordance with these Conditions at any time all, but not some only, of the Securities at their principal amount, together with any Accrued Interest. Upon the expiry of such notice, the Issuer shall, subject to Conditions 4(a), 8(b) and 8(f), redeem the Securities as aforesaid.
a "Capital Disqualification Event" will occur if at any time the Issuer determines that as a result of a change (which the Relevant Regulator considers to be sufficiently certain) to the regulatory classification of the Securities under the Capital Regulations, in any such case becoming effective on or after the Issue Date, all or any part of the outstanding aggregate principal amount of the Securities ceases (or would cease) to be included in, or count towards, the Tier 1 Capital of the Group;
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.
Bond Calculator
Yield Calculation
Investment Amount
Nominal Value-
Principal Amount-
Accrued Interest-
Total Payable-
Cash Flow Information