Merrill Lynch Intl (DTG) Syndicate Partnership Pre-Stabilisation Notice (1363C)

TIDMPA.

RNS Number : 1363C

Merrill Lynch Intl (DTG) Syndicate

14 January 2015

PRE-STABILISATION ANNOUNCEMENT

14(th) January

Merrill Lynch Intl Syndicate

Not for distribution, directly or indirectly, in or into the United States or any jurisdiction in which such distribution would be unlawful.

Partnership Assurance Group plc

Pre-Stabilisation Notice

Merrill Lynch International (contact: Carina Powolozky telephone: [phone]) hereby gives notice, as Stabilisation Coordinator, that the Stabilisation Manager(s) named below may stabilise the offer of the following securities in accordance with Commission Regulation (EC) No. 2273/2003 implementing the Market Abuse Directive (2003/6/EC).

 
 The securities: 
------------------------------  ------------------------------- 
 Issuer:                         Partnership Assurance 
                                  Group plc 
------------------------------  ------------------------------- 
 Guarantor (if any):             Partnership Life Assurance 
                                  Company Limited 
------------------------------  ------------------------------- 
 Aggregate nominal amount:       GBP100mn 
------------------------------  ------------------------------- 
 Description:                    GBP 10yr T2 Fixed Rate 
                                  Guaranteed Subordinated 
------------------------------  ------------------------------- 
 Other offer terms:              n/a 
------------------------------  ------------------------------- 
 Stabilisation: 
------------------------------  ------------------------------- 
 Stabilisation Manager(s):       Merrill Lynch International 
                                  The Royal Bank of Scotland 
                                  plc 
------------------------------  ------------------------------- 
 Stabilisation period expected   14 January 2014 
  to start on: 
------------------------------  ------------------------------- 
 Stabilisation period expected   13 February 2014 (30 days 
  to end no later than:           after the proposed issue 
                                  date of the securities) 
------------------------------  ------------------------------- 
 Existence, maximum size         The Stabilisation Manager(s) 
  and conditions of use           may over-allot the securities 
  of over-allotment facility:     to the extent permitted 
                                  in accordance with applicable 
                                  law. 
------------------------------  ------------------------------- 
 

In connection with the offer of the above securities, the Stabilisation Manager(s) may over-allot the securities or effect transactions with a view to supporting the market price of the securities at a level higher than that which might otherwise prevail. However, there is no assurance that the Stabilisation Manager(s) will take any stabilisation action and any stabilisation action, if begun, may be ended at any time. Any stabilisation action or over-allotment shall be conducted in accordance with all applicable laws and rules.

This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of the Issuer in any jurisdiction.

This announcement and the offer of the securities to which it relates are only addressed to and directed at persons outside the United Kingdom and persons in the United Kingdom who have professional experience in matters related to investments or who are high net worth persons within article 12(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 and must not be acted on or relied on by other persons in the United Kingdom.

In addition, if and to the extent that this announcement is communicated in, or the offer of the securities to which it relates is made in, any EEA Member State that has implemented Directive 2003/71/EC (together with any applicable implementing measures in any Member State, the "Prospectus Directive") before the publication of a prospectus in relation to the securities which has been approved by the competent authority in that Member State in accordance with the Prospectus Directive (or which has been approved by a competent authority in another Member State and notified to the competent authority in that Member State in accordance with the Prospectus Directive), this announcement and the offer are only addressed to and directed at persons in that Member State who are qualified investors within the meaning of the Prospectus Directive (or who are other persons to whom the offer may lawfully be addressed) and must not be acted on or relied on by other persons in that Member State.

This announcement is not an offer of securities for sale into the United States. The securities have not been, and will not be, registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an exemption from registration. There will be no public offer of securities in the United States.

This information is provided by RNS

The company news service from the London Stock Exchange

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