Notice to Series 2024-1 Covered Bondholders

TSB Bank PLC

03 July 2025

 

NOTICE TO SERIES 2024-1 COVERED BONDHOLDERS

Amendment to Series 2024-1 Covered Bond Swap

TSB BANK PLC

(the Issuer)

€500,000,000 Series 2024-1 3.319 per cent. Fixed Rate Covered Bonds due March 2029

ISIN: XS2774411016 Common Code: 277441101

(the Series 2024-1 Covered Bonds)

issued under the £10,000,000,000 Global Covered Bond Programme of TSB Bank plc

unconditionally and irrevocably guaranteed as to payments of interest and principal by  

TSB Covered Bonds LLP (the Programme)

NOTICE IS GIVEN by the Issuer to the holders of the Series 2024-1 Covered Bonds that as of 3 July 2025

the series 2024-1 swap agreement dated 5 March 2024 and entered into between TSB Covered Bonds LLP (the LLP), Bank of Montreal (the Series 2024-1 Covered Bond Swap Provider) and Citicorp Trustee Company Limited (the Security Trustee) (the Series 2024-1 Swap Agreement) relating to the Series 2024-1 Covered Bonds was amended and restated to update the frequency of margining under the credit support annex that forms part of the Series 2024-1 Swap Agreement from weekly to daily, and the definition of "Valuation Date" set out in paragraph 11(c)(ii) to the Credit Support Annex was updated from "the last London Business Day of each week" to "each London Business Day".  

For further information, please contact:

Gina Bouette
Treasury Legal
TSB Bank plc
Telephone: [phone]

DISCLAIMER - INTENDED ADDRESSEES

Please note that the information contained in this announcement may be addressed to and/or targeted at persons who are residents of particular countries only, is not intended for use, and should not be relied upon by any person outside these countries. Prior to relying on the information contained in this announcement you must ascertain from the announcement whether or not you are part of the intended addressees of the information contained therein

Your right to access this service is conditional upon complying with the above requirement. 

 

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