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LONDON - Nationwide Building Society (LON:NBS) announced it will redeem its £50 million Fixed Rate Reset Senior Non-Preferred Notes in full on August 1, 2025, according to a press release statement issued Friday.
The notes, which were due to mature in August 2026, will be redeemed at their principal amount along with any unpaid interest accrued through August 1, 2025. The redemption is being executed under Condition 5.5 of the notes, which allows for redemption at the issuer’s option.
Nationwide confirmed it has satisfied all preconditions required for the redemption in accordance with Condition 5.12 of the notes, which governs redemption, purchase, substitution, or variation of Senior Non-Preferred Notes.
Following the redemption, the notes will be cancelled with no further interest payments to be made. Nationwide will also request the Financial Conduct Authority to cancel the notes’ listing on the Official List and their admission to trading on the London Stock Exchange (LON:LSEG)’s regulated market.
The notes (ISIN:XS2660276218) were originally issued under Nationwide’s U.S.$25 billion European Note Programme.
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