Announcement of change in subordination

RNS Number : 5166A

Standard Chartered PLC

02 February 2022

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (A) IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA) (THE "UNITED STATES" OR THE "U.S.") OR TO ANY "U.S. PERSON" AS DEFINED IN REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OTHER THAN A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A UNDER THE SECURITES ACT ("RULE 144A") OR (B) IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT.

Standard Chartered PLC
2 February 2022

STANDARD CHARTERED PLC
(a public limited company incorporated in England and Wales)
(the "Issuer")

Description of Securities	Rule 144A ISIN / Common Code / CUSIP	Reg S ISIN / Common Code / CUSIP	First Call Date
U.S.$2,000,000,000 7.50 per cent. Fixed Rate Resetting Perpetual Subordinated Contingent Convertible Securities (the "2016USDAT1Securities")	US853254BA77 / 147574614 / 853254 BA7	USG84228CQ91 / 147574690 / G84228 CQ9	2 April 2022
U.S.$1,000,000,000 7.75 per cent. Fixed Rate Resetting Perpetual Subordinated Contingent Convertible Securities (the "2017USDAT1Securities")	US853254BH21 / 155097418 / 853254 BH2	USG84228CX43 / 155097477 / G84228 CX4	2 April 2023
SGD 750,000,000 5.375 per cent. Fixed Rate Resetting Perpetual Subordinated Contingent Convertible Securities (the "2019SGD AT1 Securities")	N/A / N/A / N/A	XS2013525253 / 201352525 / NA	3 October 2024
U.S.$1,000,000,000 6.00 per cent. Fixed Rate Resetting Perpetual Subordinated Contingent Convertible Securities (the "2020 USD AT1 Securities")	US853254BT68 / 219141769 / 853254 BT6	USG84228EH74 / 219141793 / G84228 EH7	26 January 2026
U.S.$1,250,000,000 4.75 per cent. Fixed Rate Resetting Perpetual Subordinated Contingent Convertible Securities (the "January 2021 AT1 Securities")	US853254BX70 / 228219282 / 853254 BX7	USG84228EP90 / 228218758 / G84228 EP9	14 July 2031
U.S.$1,500,000,000 4.30% Fixed Rate Resetting Perpetual Subordinated Contingent Convertible Securities (the "August 2021 AT1 Securities")	US853254CD08 / 237652975 / 853254CD0	USG84228EV68 / 237653084 / G84228EV6	19 February 2029

(together, the "AT1 Securities")

Announcement of determination

The Issuer hereby announces that it has today notified the holders of the AT1 Securities that in order to preserve the capital treatment of such AT1 Securities as additional Tier 1 capital of the Group, it has determined that the Preference Shares shall rank senior to the AT1 Securities. This is as a result of the reclassification of the outstanding Preference Shares as Tier 2 capital of the Group following the end of the CRR grandfathering period.

For further information, please contact:

Daniel Banks
Managing Director, Global Head, Debt Investor Relations
1 Basinghall Avenue
London
EC2V 5DD
020 7885 6329

Julie Gibson
Head of Group Media Relations
1 Basinghall Avenue
London
EC2V 5DD
020 7885 2434

Standard Chartered PLC LEI: U4LOSYZ7YG4W3S5F2G91 

END

 

END

 

 

MSCUPUCGPUPPGQP