Bond Factsheet
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BNKEA 5.375% 13May2032 Corp (USD)
Bank of East Asia Ltd
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Bond Issuer
Bank of East Asia Ltd
Guarantor
-
Announcement Date
06 May 2026
Issue Date
13 May 2026
Maturity Date
13 May 2032
Years to Maturity / Next Call
5.584 / 4.582
Modified Duration
4.632 @ 12 Oct 2026
Issue / Reoffer Price
100.000
Issue / Reoffer Yield
5.401
Coupon Type
Variable
Annual Coupon Rate
5.375
Coupon Frequency
Semi Annually
Seniority
Senior Non Preferred
Capital Structure
Senior Non Preferred
Reference Rate
Reset Date: 13 May 2031 and annually thereafter
Reset Rate: prevailing 1-year U.S. Treasury Rate + Spread (1.400%)
ISIN
XS3314102842
CUSIP
DK2327585
Bond Currency
USD
Total Issue Size
1,000,000,000
Min. Investment Quantity (Nominal)
USD 250,000
Incremental Quantity (Nominal)
USD 1,000
Bond Type
Corporate
Bond Sector
Financials
Bond Sub Sector
Banks
Issuer Credit Rating (S&P/ Fitch)
***/ N.R
Bond Credit Rating (S&P/ Fitch)
***/ N.R
Shariah Compliant
No
Exchange Listed
HKEX
Loss Absorption
Hong Kong Resolution Authority Power in respect of Non-Preferred Loss Absorbing Notes and Dated Subordinated Notes
Notwithstanding any other term of the Non-Preferred Loss Absorbing Notes or the Dated Subordinated Notes or any other agreement or arrangement, including without limitation Note Condition 7(a), or any other agreement or arrangement, each holder of Non-Preferred Loss Absorbing Notes or Dated Subordinated Notes and the Trustee shall be subject, and shall be deemed to agree, be bound by and acknowledge that they are each subject, to having the Non-Preferred Loss Absorbing Notes or Dated Subordinated Notes held by each being written off, cancelled, converted or modified, or to having its form changed, in the exercise of any Hong Kong Resolution Authority Power by the relevant Hong Kong Resolution Authority without prior notice and which may include (without limitation) and result in any of the following or some combination thereof:
(a) the reduction or cancellation of all or a part of the principal amount of, or interest on, the Non-Preferred Loss Absorbing Notes or the Dated Subordinated Notes;
(b) the conversion of all or a part of the principal amount of, or interest on, the Non-Preferred Loss Absorbing Notes or the Dated Subordinated Notes into shares or other securities or other obligations of the Issuer or another person (and the issue to or conferral on the holder of such shares, securities or obligations), including by means of an amendment, modification or variation of the terms of the Non-Preferred Loss Absorbing Notes or the Dated Subordinated Notes; and
(c) the amendment or alteration of the maturity of the Non-Preferred Loss Absorbing Notes or Dated Subordinated Notes or amendment or alteration of the amount of interest payable on the Non-Preferred Loss Absorbing Notes or the Dated Subordinated Notes, or the date on which the interest becomes payable, including by suspending payment for a temporary period, or any other amendment or alteration of the Note Conditions
Issuer Call
Optional Redemption Date: 13 May 2031, subject to the prior written consent of the Monetary Authority subject to, and in accordance with, Condition 6(l)
Additional Note
Subject to Condition 6(j), following the occurrence of a Capital Event, the Issuer may, having given not less than 30 but not more than 60 days’ prior written notice to the Securityholders in accordance with Condition 15 (which notice shall be irrevocable), redeem in accordance with these Conditions on any Distribution Payment Date (if such Undated Capital Security is at the relevant time a Floating Rate Undated Capital Security) or at any time (if such Undated Capital Security is at the relevant time not a Floating Rate Undated Capital Security) all, but not some only, of the relevant Undated Capital Securities at, subject to adjustment following the occurrence of a Non-Viability Event in accordance with Condition 7, their Early Redemption Amount or, if no Early Redemption Amount is specified hereon, at their principal amount, in each case together with Distribution accrued but unpaid (if any) to (but excluding) the date of redemption in accordance with these Conditions and provided that no such notice of redemption shall be given prior to the compliance with Condition 6(j).
Redemption due to Loss Absorption Disqualification Event:
Subject to Condition 6(j), following the occurrence of a Loss Absorption Disqualification Event, the Issuer may, having given not less than 30 but not more than 60 days’ prior written notice to the Securityholders in accordance with Condition 15 (which notice shall be irrevocable), redeem in accordance with these Conditions on any Distribution Payment Date (if such Undated Capital Security is at the relevant time a Floating Rate Undated Capital Security) or at any time (if such Undated Capital Security is at the relevant time not a Floating Rate Undated Capital Security) all, but not some only, of the relevant Undated Capital Securities at, subject to adjustment following the occurrence of a Non-Viability Event in accordance with Condition 7, their Early Redemption Amount or, if no Early Redemption Amount is specified hereon, at their principal amount together with Distribution accrued but unpaid (if any) to (but excluding) the date of redemption in accordance with these Conditions and provided that no such notice of redemption shall be given prior to the compliance with Condition 6(j)
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