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LONDON - Standard Chartered (LON:STAN) PLC (OTC:SCBFF) announced Friday it will fully redeem its outstanding $1 billion Fixed Rate Resetting Perpetual Subordinated Contingent Convertible Securities on July 26, 2025.
According to the notice of redemption, the bank will repurchase the securities at 100 percent of their principal amount along with any accrued interest. The payment will be made on July 28, 2025, in accordance with the terms and conditions established when the securities were issued on June 26, 2020.
Following the redemption, the securities will be cancelled and no outstanding securities from this issuance will remain in circulation. Standard Chartered stated it will apply to The Stock Exchange of Hong Kong Limited to withdraw the listing of these securities.
The redemption applies to securities with ISINs US853254BT68 for the Restricted Global Certificates and USG84228EH74 for the Unrestricted Global Certificates, which are also identified by stock code 40276.
The redemption is being executed under Condition 8(c) of the securities’ terms and conditions as outlined in the offering circular dated June 17, 2020, which permits redemption at the issuer’s option.
This information is based on a press release statement issued by Standard Chartered PLC.
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