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MADRID - JP Morgan SE announced Tuesday that no stabilization measures were undertaken for CaixaBank, S.A.’s recent €500 million securities offering, according to a post-stabilization notice.
The Spanish bank’s perpetual non-call 10-year non-cumulative contingent convertible additional tier 1 preferred securities were offered at 100% of face value. The securities are listed on the Spanish AIAF Fixed Income Securities Market.
JP Morgan SE served as the stabilization coordinator for the offering, with Barclays, BofA Securities, CaixaBank, and HSBC acting as stabilization managers. The announcement follows a pre-stabilization notice dated September 15.
Stabilization measures, which can include market purchases to support a security’s price during the initial offering period, were not implemented for this issuance, as stated in the announcement made in accordance with EU Market Abuse Regulation and Financial Conduct Authority rules.
The securities represent a form of additional tier 1 capital, which helps financial institutions meet regulatory capital requirements while providing contingent loss absorption features.
This information was provided through a regulatory news service announcement from the London Stock Exchange.
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