Company Announcements

Notice of Redemption

Source: RNS
RNS Number : 0738W
SBAB Bank AB (publ)
20 April 2021
 

 

Notice of Redemption

Prevailing Principal Amount (SEK)

Description of Notes

Common Code

ISIN

775,000,000

Fixed to Floating Rate Perpetual Additional Tier 1 Capital Notes (the "Fixed to Floating Rate Notes")

141240650

XS1412406503

725,000,000

Floating Rate Perpetual Additional Tier 1 Capital Notes

(the "Floating Rate Notes")

141240889

XS1412408897

Reference is made to the Fiscal Agency Agreement dated 17 May 2016 in respect of the Floating Rate Notes and the Fiscal Agency Agreement dated 17 May 2016 in respect of the Fixed to Floating Rate Notes entered into by amongst others SBAB Bank AB (publ) (the "Issuer") and The Bank of New York Mellon, London Branch (the "Fiscal Agent) (jointly, the "Agency Agreements").

All capitalised terms used herein and not defined shall have the meanings assigned to such terms in the Agency Agreements.

1.             The Issuer hereby notifies the Noteholders of the redemption of all of the outstanding Notes, pursuant to Clause 7(b) of the Conditions applicable to the Floating Rate Notes and the Fixed to Floating Rate Notes respectively as follows:

Redemption Date:                                               17 June 2021

Principal Amount of Notes to be Redeemed:

Fixed to Floating Rate Notes:                             All, being SEK 775,000,000

Floating Rate Notes:                                           All, being SEK 725,000,000

Total                                                                   SEK 1,500,000,000

Redemption Price:                                           An amount equal to 100% of the Prevailing Principal Amount of the  Fixed to Floating Rate Notes and the Floating Rate Notes, together, if appropriate, with interest accrued (if any) to (but excluding) 17 June 2021.

2.             Notes called for Redemption must be surrendered at the Specified Office of any Paying Agent outside the United States by SEK cheque drawn on, or by transfer to a SEK account maintained by the payee with, a bank in Stockholm to collect the Redemption Price.

3.             Unless the Issuer defaults in its obligation to pay the Redemption Price, interest on Notes called for redemption will cease to accrue on and after the Redemption Date.

4.             No representation is made as to the correctness or accuracy of any ISIN or Common Code number listed above or printed on any Note.

Dated and validly sent through the relevant clearing system on 20 April 2021.

_____________________

Yours sincerely,

 

The Issuer

 

SBAB Bank AB (publ)

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