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LONDON - Zurich Finance (Ireland) II DAC, backed by Zurich Insurance Company Ltd, has initiated a pre-stabilization period as of today, according to a statement by J.P. Morgan Securities plc, the stabilization coordinator. The firm may engage in transactions to stabilize the market price of its USD Fixed Rate Reset Subordinated Notes, which have been listed on the Luxembourg stock exchange.
The notes, described as USD 30.5NC10.5 Reg S Bearer, have an aggregate nominal amount set at a USD benchmark, with an offer price to be confirmed. The stabilization managers, including HSBC, Credit Agricole (OTC:CRARY) CIB, and Deutsche Bank (ETR:DBKGn) alongside J.P. Morgan, are authorized to over-allot the securities by up to 5% of the aggregate nominal amount.
The stabilization activities, which are regulated under the Market Abuse Regulation (EU/596/2016), are expected to commence today and will not extend beyond June 15, 2025. These measures are intended to support the securities’ market price post-offering and may include over-allotment or other transactions. However, there is no guarantee that stabilization will occur, and if initiated, it can be halted at any time within the stipulated period.
The announcement clarifies that the securities have not been registered under the United States Securities Act of 1933 and, as such, cannot be offered or sold within the United States absent registration or an exemption from registration. Consequently, there will be no public offer of these securities in the United States.
The information released indicates that the offer is aimed at qualified investors outside the United Kingdom (TADAWUL:4280) or those within the UK who have professional experience in investment matters or are high net worth individuals, as defined by the Financial Services and Markets Act 2000.
This news is based on a press release statement and is intended to inform market participants and investors about the potential stabilization actions and should not be considered as an invitation or offer to underwrite, subscribe for, or otherwise acquire or dispose of any securities.
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