Standard Chartered PLC Results of SCPLC and SCB Tender Offer (1352R)

TIDMSTAN

RNS Number : 1352R

Standard Chartered PLC

12 June 2018

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA (INCLUDING PUERTO RICO, THE US VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), OR IN OR INTO ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION IS UNLAWFUL

Standard Chartered PLC

Standard Chartered Bank

12 June 2018

ANNOUNCEMENT OF ACCEPTANCE AND RESULTS OF STANDARD CHARTERED PLC'S AND STANDARD CHARTERED BANK'S OFFERS TO REPURCHASE NOTES FOR CASH

On 4 June 2018, Standard Chartered PLC ("SCPLC" or the "Company" in respect of the SCPLC Notes) invited holders of its GBP900,000,000 5.125 per cent. Dated Subordinated Notes due 2034 (ISIN: XS1075419694) and its GBP750,000,000 4.375 per cent. Notes due 2038 (ISIN: XS0876756452) (together, the "SCPLC Notes") to tender their SCPLC Notes for repurchase by the Company for cash, subject to certain offer restrictions as contained in the section "Offer and Distribution Restrictions" of the Tender Offer Memorandum dated 4 June 2018 (the "Tender Offer Memorandum").

On 4 June 2018, Standard Chartered Bank ("SCB" or the "Company" in respect of the SCB Notes) invited holders of its GBP200,000,000 7.750 per cent. Undated Subordinated Step-Up Notes (first callable on 31 January 2022) (ISIN: XS0119816402) (the "SCB Notes") to tender their SCB Notes for repurchase by the Company for cash, subject to certain offer restrictions as contained in the section "Offer and Distribution Restrictions" of the Tender Offer Memorandum.

Further to the announcement made by the Companies on 4 June 2018, the Companies hereby announce that the results of the Offers, including the aggregate nominal amount of each series of Notes validly tendered and not validly withdrawn by the Expiration Deadline, all of which are to be accepted for repurchase, and the relevant Repurchase Price payable for each Integral Multiple in nominal amount in respect of each Series of Notes to be accepted for repurchase, are as set out in the following table.

 
 Description      Company   ISIN           Aggregate        Outstanding      Fixed    Reference       Reference   Repurchase     Accrued 
  of the                                   nominal           nominal         Tender    Security       Security     Price         Interest 
  Notes                                    amount            amount          Spread                   Rate         (for          (for 
                                           tendered          post                                     (per         each          each 
                                           and accepted      settlement                               cent.        Integral      Integral 
                                           for repurchase                                             per          Multiple      Multiple 
                                                                                                      annum)       in nominal    in 
                                                                                                                   amount)       nominal 
                                                                                                                                 amount) 
 GBP900,000,000   SCPLC     XS1075419694   GBP372,509,000   GBP527,491,000   265      4.500 per       1.772       GBP1,073.55    GBP1.12 
  5.125 per                                                                   bps     cent. UK        per cent.   per GBP1,000    per 
  cent. Dated                                                                         Treasury                                    GBP1,000 
  Subordinated                                                                        Gilt due 
  Notes due                                                                           September 
  2034                                                                                2034 (ISIN: 
                                                                                      GB00B52WS153) 
                 --------  -------------  ---------------  ---------------  -------  --------------  ----------  -------------  ---------- 
 GBP750,000,000   SCPLC     XS0876756452   GBP245,687,000   GBP504,313,000   170      4.750 per       1.824       GBP1,119.66    GBP17.77 
  4.375 per                                                                   bps     cent. UK        per cent.   per GBP1,000    per 
  cent. Notes                                                                         Treasury                                    GBP1,000 
  due 2038                                                                            Gilt due 
                                                                                      December 
                                                                                      2038 (ISIN: 
                                                                                      GB00B00NY175) 
                 --------  -------------  ---------------  ---------------  -------  --------------  ----------  -------------  ---------- 
 GBP200,000,000   SCB       XS0119816402   GBP99,140,000*   GBP35,360,000    140      4.00 per        0.884       GBP11,875.40   GBP288.47 
  7.750 per                                                                   bps     cent. UK        per cent.   per            per 
  cent. Undated                                                                       Treasury                    GBP10,000      GBP10,000 
  Subordinated                                                                        Gilt due 
  Step-Up                                                                             March 2022 
  Notes (first                                                                        (ISIN: 
  callable                                                                            GB00B3KJDQ49) 
  on 31 January 
  2022) 
                 --------  -------------  ---------------  ---------------  -------  --------------  ----------  -------------  ---------- 
 

*Including Notes with an outstanding nominal amount of GBP4,000,000 tendered by a member of Standard Chartered Group and accepted for repurchase.

Each Noteholder whose Notes have been accepted for repurchase is entitled to receive on the Settlement Date, which is expected to be 14 June 2018, the relevant Total Consideration, being the Repurchase Price plus Accrued Interest, in respect of such Notes.

Capitalised terms used and not otherwise defined in this announcement have the meanings given in the Tender Offer Memorandum.

For further information, please contact:

The Dealer Managers

 
    Lloyds Bank Corporate               Standard Chartered                           UBS Limited 
          Markets plc                           Bank                                 5 Broadgate 
       25 Gresham Street               One Basinghall Avenue                       London EC2M 2QS 
        London EC2V 7HN                   London EC2V 5DD                           United Kingdom 
        United Kingdom                     United Kingdom 
                                         For information by                        For information 
        For information                  telephone: +44 20                          by telephone: 
       by telephone: +44                     7885 5739                             [phone] 
         20 7158 1726                   Attention: Liability                     Attention: Liability 
     Attention: Liability                 Management Group                         Management Group 
       Management Group          Email: [e-mail]    Email: [e-mail] 
  Email: liability.management 
      @lloydsbanking.com 
 

The Information and Tender Agent

 
          In London:                  In Hong Kong: 
        D.F. King Ltd.                D.F. King Ltd. 
        125 Wood Street          Suite 1601, 16/F, Central 
        London EC2V 7AN                    Tower 
        United Kingdom            28 Queen's Road Central 
  Telephone: [phone]        Central Hong Kong 
                                 Telephone: [phone] 
                 Email: [e-mail] 
          Website: https://sites.dfkingltd.com/scb 
 

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June 12, 2018 07:36 ET (11:36 GMT)