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LONDON - Nationwide Building Society (LON:NBS) has completed the offer of GBP 700 million in securities without the need for stabilisation actions, J.P. Morgan Securities PLC announced today. The securities in question are perpetual non-callable December 31 (PNC Dec 31) Additional Tier 1 (AT1) notes, which are direct, unsecured, and subordinated. They are listed on the London Stock Exchange (LON:LSEG).
The offer, which was initially announced on June 3, 2025, was priced at 100.000%. J.P. Morgan Securities PLC served as the stabilization coordinator, with Natwest and Lloyds (LON:LLOY) acting as stabilization managers. However, the firm has confirmed that no stabilisation was undertaken by any of the managers in relation to the offer.
Stabilisation activities are typically conducted to support the market price of securities immediately after their launch to prevent or minimize price decline. The fact that no such measures were needed for Nationwide Building Society’s offering may indicate a stable or supportive market environment for this new issuance.
The announcement made today is intended solely for informational purposes and should not be considered an invitation or offer to underwrite, subscribe for, or acquire or dispose of any securities of the Issuer in any jurisdiction. The information is based on a press release statement and is provided by RNS, the news service of the London Stock Exchange, which is approved by the Financial Conduct Authority in the United Kingdom (TADAWUL:4280) to act as a Primary Information Provider. Terms and conditions relating to the use and distribution of this information may apply.
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