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RNS Number : 7813G Pearson PLC 17 November 2022
Pearson plc
November 17, 2022
NOTICE OF REDEMPTION IN RESPECT OF THE
$500,000,000 3.250% GUARANTEED NOTES DUE 2023 (THE "NOTES") (OF WHICH
$94,176,000 IN PRINCIPAL AMOUNT ARE OUTSTANDING)
Rule 144A Notes:
Cusip No.: 70501VAA6, ISIN: 1 US70501VAA61, Common Code: 092818845
Regulation S Notes:
Cusip No.: G6964RAA2 ISIN: USG6964RAA26, Common Code: 092818861
OF
PEARSON FUNDING PLC (THE "ISSUER")
GUARANTEED BY PEARSON PLC
NOTICE IS HEREBY GIVEN THAT, pursuant to Section 6.2 of the Indenture, dated
as of May 8, 2013 (the "Indenture"), by and among the Issuer, Pearson plc and
The Bank of New York Mellon, as Trustee, Paying Agent and Calculation Agent
(the "Trustee"), the Company's 3.250% Guaranteed Notes due 2023 (the "Notes"),
of which $94,176,000 in principal amount are outstanding, will be redeemed by
the Issuer in whole at a redemption price equal to (a) any accrued and unpaid
interest to (but excluding) December 16, 2022 (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, May 8, 2023, 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 25 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 Funding plc
80 Strand
London WC2R 0RL
Guarantor: Pearson plc
80 Strand
London WC2R 0RL
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