REG - Pearson PLC - Notice of Redemption $300M 4.625% Notes due 2018 <Origin Href="QuoteRef">PSON.L</Origin>

PearsonAnnouncement

09/10/2017 09:40

RNS Number : 0504T
Pearson PLC
09 October 2017
Pearson plc
October 9, 2017
NOTICE OF REDEMPTION IN RESPECT OF THE
$300,000,000 4.625% SENIOR NOTES DUE 2018 (THE "NOTES")
Rule 144A Notes:
Cusip No.: 705015AB1, ISIN: 1 US705015AB12, Common Code: 017138693
Regulation S Notes: 
Cusip No.: G69651AQ3 ISIN: USG69651AQ33, Common Code: 017138723
OF
PEARSON PLC (THE "ISSUER")
NOTICE IS HEREBY GIVEN THAT, pursuant to Section 5.2 of the Indenture, dated as of June 23, 2003 (the "Indenture"), by and among the Issuer and The Bank of New York, as Trustee, Paying Agent and Calculation Agent (the "Trustee"), the Company's 4.625% Senior Notes due 2018 (the "Notes"), will be redeemed by the Issuer in whole at a redemption price equal to (a) any accrued and unpaid interest to (but excluding) November 7, 2017 (the "Redemption Date") and Additional Amounts (as defined in the Indenture), if any, plus (b) the greater of (i) 100% of the principal amount of the notes to be redeemed and (ii) as determined by The Bank of New York Mellon, as Calculation Agent, the sum of the present values of the remaining scheduled payments of principal and interest on the Notes to be redeemed, not including any portion of such payment of interest accrued on the Redemption Date, from the Redemption Date to the maturity date, June 15, 2018, discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined in the Indenture), plus 20 basis points (the "Redemption Price").
On the Redemption Date, the Redemption Price for each Note will become due and payable and interest thereon, if any, shall cease to accrue on and after such date.
For further information, please contact:
Trustee, Paying Agent and Calculation Agent:
The Bank of New York Mellon
One Canada Square
London E14 5AL
Issuer:
Pearson plc
80 Strand
London WC2R 0RL

This information is provided by RNS
The company news service from the London Stock Exchange
  END
MSCEAPENEDSXFEF