Bond Factsheet
Marketplace
FWDGHD 7.635% 02Jul2031 Corp (USD)
FWD Group Holdings Limited
Full Lot
Bid Price 105.165
Change in Bid Price
-
Bid Yield (%) 6.351 %
Change in Bid Yield
-
Bid Volume 200,000
Ask Price 105.465
Change in Ask Price
-
Ask Yield (%) 6.279 %
Change in Ask Yield
-
Ask Volume 200,000
Price as of 05 Oct 2026, 5:58pm
Odd Lot
Bid Price 105.000
Change in Bid Price
-
Bid Yield (%) 6.391 %
Change in Bid Yield
-
Bid Volume 1,000
Ask Price 105.495
Change in Ask Price
-
Ask Yield (%) 6.272 %
Change in Ask Yield
-
Ask Volume 100,000
Price as of 05 Oct 2026, 5:58pm
Ask Yield to Maturity
Bid Yield to Maturity
Bond Issuer
FWD Group Holdings Limited
Guarantor
-
Announcement Date
20 Jun 2024
Issue Date
02 Jul 2024
Maturity Date
02 Jul 2031
Years to Maturity / Next Call
4.741 / -
Modified Duration
3.891 @ 02 Oct 2026
Issue / Reoffer Price
100.000
Issue / Reoffer Yield
7.635
Coupon Type
Fixed
Annual Coupon Rate
7.635
Coupon Frequency
Semi Annually
Seniority
Subordinated
Reference Rate
-
ISIN
XS2850435731
CUSIP
YX8916133
Bond Currency
USD
Total Issue Size
600,000,000
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)
***/ BBB+
Bond Credit Rating (S&P/ Fitch)
***/ BBB-
Shariah Compliant
No
Exchange Listed
HKEX
Deferral Interest Payment
(i) This Condition 5(b) is applicable to Capital Securities only if "Mandatory Distribution Deferral at Maturity" and "Group Capital Requirements Redemption Condition" are specified as applicable in the relevant Pricing Supplement.
(ii) On any Mandatory Distribution Deferral Date, the Issuer shall defer payment of all of the Distribution accrued to that date. The Issuer shall endeavour to give notice thereof in writing to the Fiscal Agent and to the Securityholders (in accordance with Condition 15) no later than such Mandatory Distribution Deferral Date, but any failure to give notice shall not affect the validity of such deferral or constitute a default for any purpose. A notice not given by the relevant Mandatory Distribution Deferral Date shall be given without undue delay thereafter.
"Group Capital Requirements" means the GMCR and the GPCR and any other solvency capital requirements to which the Issuer or the Insurance Group is subject from time to time pursuant to the Applicable Supervisory Rules applicable to the Insurance Group.
Make Whole Call
If “Redemption at the Option of the Issuer (Make Whole Redemption)” is specified as applicable in the relevant Pricing Supplement, the Issuer may, on giving the relevant Notice Period’s (as specified in the relevant Pricing Supplement) notice to the Noteholders and the Fiscal Agent (which notice shall be irrevocable) redeem the Notes in whole on any Make Whole Optional Redemption Date. Any such redemption of Notes shall be at their Make Whole Redemption Amount together with interest accrued to the date fixed for redemption.
“Make Whole Redemption Amount” means, with respect to each Capital Security to be redeemed, either:
(i) an amount calculated by the Determination Agent equal to the higher of (i) the principal amount of such Capital Security and (ii) the sum of (x) the present value of the principal amount of such Capital Security and (y) the present values of Distribution payable for the relevant Distribution Payment Dates from, and including, the relevant Make Whole Optional Redemption Date to the Make Whole Calculation Date (exclusive of Distribution accrued to the Make Whole Optional Redemption Date), in each case, discounted to such redemption date at the Make Whole Reference Rate, plus the Make Whole Redemption Margin; or
(ii) the amount specified in, or determined in the manner specified in, the applicable Pricing Supplement;
Make Whole Optional Redemption Date(s):
Any date from the Issue Date up to (but excluding) the Maturity Date
Make Whole Redemption Margin:0.50 per cent.
Additional Note
Deferral of Maturity Date
In the event a redemption of Capital Securities on the originally scheduled Maturity Date is not permitted due to the application of Condition 6(n) in the Preliminary Pricing Supplement Dated 20 June 2024:
(i) the Issuer shall notify the Fiscal Agent and the Securityholders no less than five Business Days prior to the originally scheduled Maturity Date (failure to give notice, however, shall not have any impact on the validity or effectiveness of such deferral and shall not constitute a default of the Issuer in respect of the Capital Securities or for any other purposes)
Redemption upon a Rating Event
The Capital Securities may be redeemed at the option of the Issuer in whole, but not in part, at any time, on giving the relevant Notice Period’s (as specified in the relevant Pricing Supplement) notice to the Securityholders and the Fiscal Agent (which notice shall be irrevocable) at their Early Redemption Amount (Rating Event) (together with Distributions accrued to the date fixed for redemption, including any Arrears of Distribution and any Additional Distribution Amount), if, immediately before giving such notice, the Issuer delivers to the Fiscal Agent the certificate referred to below stating that an amendment, clarification or change has occurred in the rules, criteria, guidelines or methodologies of relevant Rating Agencies or any of their respective successors to the rating business thereof, which amendment, clarification or change (x) results in, or will result in, a lower equity credit for the Capital Securities than the equity credit assigned on or subsequent to the Issue Date or results in or will result in no equity credit for the Capital Securities, or (y) results in or will result in the shortening of the length of time the Capital Securities are assigned a particular level of equity credit by such rating agency as compared to the length of time the Capital Securities would have been assigned that level of equity credit by such rating agency on or subsequent to the Issue Date (a “Rating Event”).
Redemption upon a Regulatory Event
The Capital Securities may be redeemed at the option of the Issuer in whole, but not in part, at any time, on giving not less than the relevant Notice Period’s (as specified in the relevant Pricing Supplement) notice to the Securityholders and the Fiscal Agent (which notice shall be irrevocable) at their Early Redemption Amount (Regulatory Event) (together with Distributions accrued to the date fixed for redemption, including any Arrears of Distribution and any Additional Distribution Amount), if, immediately before giving such notice, the Capital Securities, having qualified as the Relevant Group Capital Level (as specified in the relevant Pricing Supplement) under the Applicable Supervisory Rules (or, if different, whatever terminology is employed by the then Applicable Supervisory Rules), are no longer capable of qualifying (in whole or in part) as at least the Relevant Group Capital Level under the Applicable Supervisory Rules (or, if different, whatever terminology is employed by the then Applicable Supervisory Rules):
(A) as a result of a change or amendment to the then Applicable Supervisory Rules; or
(B) as a result of a change or amendment to the application or official interpretation of the Applicable Supervisory Rules
provided that such change or amendment to such application or official interpretation is confirmed in writing or by way of a public announcement of general application by the Relevant Regulator (an “Interpretation or Application of the Applicable Supervisory Rules”), except where such non-qualification is as a result of any other applicable limit on the amount of such capital (each, a “Regulatory Event”).
Relevant Group Capital Level: Tier 2 group capital
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