Prudential PLC Substitution of M&G plc as issuer of securities (3769Q)

TIDMPRU

RNS Number : 3769Q

Prudential PLC

18 October 2019

NEWS RELEASE

18 October 2019

Substitution of M&G plc as the issuer of certain securities

As scheduled and in connection with the proposed demerger of M&G plc ("M&G") from Prudential plc ("Prudential"), with effect from 18 October 2019, M&G has been substituted in place of Prudential as principal debtor in respect of the following securities and their connected coupons:

USD 500,000,000 6.500 per cent. notes due 2048 (ISIN - XS1888930150);

GBP500,000,000 6.250 per cent. notes due 2068 (ISIN - XS1888925747);

GBP750,000,000 5.625 per cent. notes due 2051 (ISIN - XS1888920276);

GBP300,000,000 3.875 per cent. notes due 2049 (ISIN - XS2025521886);

GBP600,000,000 5.56 per cent. notes due 2055 (ISIN - XS1243995302); and

GBP700,000,000 6.34 per cent. notes due 2063 (ISIN - XS1003373047).

The nominal amount (translated, where applicable, into pounds sterling at the exchange rate prevailing as at 30 June 2019 of 1.2727) of this Tier 2 subordinated debt is GBP3,243 million.

It is expected that the demerger will be completed and that M&G's shares will be admitted to trading on the London Stock Exchange's main market for listed securities by no later than 8.00am (UK time) on 21 October 2019.

Enquiries:

 
 Treasury                              Investors/Analysts 
                    + 44 (0) 20 3977                        [phone] 
 Simon Rich          9419              Patrick Bowes         9702 
                                                            [phone] 
                                       William Elderkin      9215 
 
 Media 
                    [phone] 
 Jonathan Oliver     9500 
                    [phone] 
 Tom Willetts        9760 
 
 

About Prudential plc

Prudential plc and its affiliated companies constitute one of the world's leading financial services groups, serving 26 million customers, with GBP717 billion of assets under management (as at 30 June 2019). Prudential plc is incorporated in England and Wales and is listed on stock exchanges in London, Hong Kong, Singapore and New York.

Additional information

Prudential plc is not affiliated in any manner with Prudential Financial Inc., a company whose principal place of business is in the United States of America.

Disclaimer

This announcement does not constitute an offer of securities for sale or a solicitation of an offer to purchase securities in any jurisdiction nor shall it (or any part of it) or the fact of its distribution, form the basis of, or be relied on in connection with, any contract therefor.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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October 18, 2019 04:30 ET (08:30 GMT)