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LONDON - J.P. Morgan SE, acting as the Stabilisation Coordinator, has announced the possibility of stabilizing the market price for securities offered by Banca Monte dei Paschi di Siena SpA. The stabilization measures are in accordance with the relevant European Union regulations and may be implemented during a specified period starting today, May 21, 2025.
Banca Monte dei Paschi di Siena SpA is issuing a 6-year-Non-Call-5-year Senior Preferred Fixed-to-Floating Rate Regs Bearer Dematerialised Notes, with the aggregate nominal amount labeled as EUR Benchmark. These securities are set to be listed on the Luxembourg Stock Exchange, and the offer price is yet to be confirmed.
The stabilization period, which begins today, is expected to last no longer than June 21, 2025. During this time, the Stabilisation Manager(s) have the ability to over-allot securities by up to 5% of the aggregate nominal amount. The main aim of such actions would be to support the market price of the securities at a level higher than what might otherwise prevail in the open market.
The Stabilisation Manager(s) include J.P. Morgan SE, Banca Monte dei Paschi di Siena, BofA Securities, BBVA (BME:BBVA), Credit Agricole (OTC:CRARY) CIB, Jefferies, and UBS. They may engage in transactions over-the-counter to achieve the stabilization, but there is no guarantee that stabilization will occur. Any stabilization action may end at any time but must conclude within the aforementioned period.
This announcement serves as a notice and does not constitute an offer to underwrite, subscribe for, or otherwise acquire or dispose of any securities. The securities in question have not been and will not be registered under the United States Securities Act of 1933, and as such, they may not be offered or sold in the United States absent registration or exemption from registration. There will be no public offering of these securities in the United States.
The information for this article is based on a press release statement.
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