REG - SBAB Bank AB - Notice of Redemption

Bank Of New York MellonAnnouncement

14/09/2020 17:40

RNS Number : 9456Y
  
SBAB Bank AB (publ)
  
14 September 2020
  
 

Notice of Redemption




Prevailing Principal Amount (SEK)


Description of Notes


Common Code


ISIN




1,850,000,000


Floating Rate Callable Subordinated Notes due November 2025
(the "FRN Notes")


131771614


XS1317716147




600,000,000


Fixed to Floating Rate Callable Subordinated Notes due November 2025 (the "FXD Notes" and together with the FRN Notes, the "Notes")


131771584


XS1317715842




Reference is made to the Agency Agreement (Amended and Restated) dated 26 October 2015 in respect of the Notes entered into by amongst others SBAB Bank AB (publ) (the "Issuer") and The Bank of New York Mellon, London Branch (the "Paying Agent"), pursuant to which the Notes were issued (the "Agency Agreement").
All capitalised terms used herein and not defined shall have the meanings assigned to such terms in the Agency Agreement.
1.           The Issuer hereby notifies the Noteholders of the redemption of all of the outstanding Notes, pursuant to Clause 6(c) of the Conditions applicable to the Notes as follows:
Redemption Date:
                                                                                                10 November 2020
Principal Amount of Notes to be Redeemed: 
Fixed to Floating Rate Notes:                                                All, being SEK 600,000,000 
Floating Rate Notes:                                                              All, being SEK 1,850,000,000
Total                                                                                      SEK 2,450,000,000
Redemption Price:
                                                          An amount equal to 100% of the outstanding principal amount of the Notes,         with interest accrued (if any) to (but excluding) 10 November 2020.   
Paying Agents:
                                                          The Notes are to be surrendered for payment of the Redemption Price at The Bank of New York Mellon, London Branch, One Canada Square, London E14 5AL, United Kingdom, Attention: Corporate Trust Administration
2.           Notes called for Redemption must be surrendered to a Paying Agent to collect the Redemption Price.
3.           Unless the Issuer defaults in its obligation to pay the Redemption Price, interest on Notes called for redemption will cease to accrue on and after the Redemption Date.
4.           No representation is made as to the correctness or accuracy of any ISIN or Common Code number listed above or printed on any Note.
 
Dated and validly sent through the relevant clearing system on 14 September 2020
__________________________
 
Yours sincerely,
 
The Issuer 
 
SBAB Bank AB (publ)

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