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REG - Societe Generale SA Telefonica SA - Stabilisation Notice - Telefónica SA

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RNS Number : 4388S  Societe Generale SA  15 November 2021

15(th) November 2021


Not for distribution, directly or indirectly, in or into the United States or
any jurisdiction in which such distribution would be unlawful.


Telefónica SA

Pre-stabilisation Period Announcement


Societe Generale  (contact: Duane Elgey: +442035471529) hereby gives notice,
as Stabilisation Coordinator, that the Stabilisation Manager(s) named below
may stabilise the offer of the following securities in accordance with
[Commission Delegated Regulation (EU) 2016/1052 under the Market Abuse
Regulation (EU/596/2014)] and  [the UK FCA Stabilisation Binding Technical



 Issuer:                                                                      Telefónica SA
 Guarantor(s) (if any):                                                       N/A
 Aggregate nominal amount:                                                    EUR 750m
 Description:                                                                 Maturity: Undated

                                                                              Coupon: 2.88%
 Offer price:                                                                 100.00%

 Stabilisation Manager(s)                                                     SG CIB
 Stabilisation period expected to start on                                    15/11/2021
 Stabilisation period expected to end no later than                           24/12/2021
 Existence, maximum size and conditions of use of over‑allotment facility:    The Stabilisation Manager(s) may over‑allot the securities to the extent
                                                                              permitted in accordance with applicable law.


In connection with the offer of the above securities, the Stabilisation
Manager(s) may over‑allot(10) the securities or effect transactions with a
view to supporting the market price of the securities during the stabilisation
period at a level higher than that which might otherwise prevail. However,
stabilisation may not necessarily occur and any stabilisation action, if
begun, may cease at any time(11). Any stabilisation action or over‑allotment
shall be conducted in accordance with all applicable laws and rules.

This announcement is for information purposes only and does not constitute an
invitation or offer to underwrite, subscribe for or otherwise acquire or
dispose of any securities of the Issuer in any jurisdiction.

This announcement and the offer of the securities to which it relates are only
addressed to and directed at persons outside the United Kingdom and persons in
the United Kingdom who have professional experience in matters related to
investments or who are high net worth persons within Article 12(5) of the
Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 and
must not be acted on or relied on by other persons in the United Kingdom(12).

In addition, if and to the extent that this announcement is communicated in,
or the offer of the securities to which it relates is made in, [the UK] [any
EEA Member State] before the publication of a prospectus in relation to the
securities which has been approved by the competent authority in [the UK]
[that Member State] in accordance with Regulation (EU) 2017/1129 [as it forms
part of domestic  law by virtue of the European Union (Withdrawal) Act
2018(13)] (the " EU  UK  Prospectus Regulation") [(or which has been approved
by a competent authority in another Member State and notified to the competent
authority that Member State in accordance with the EU Prospectus Regulation)],
this announcement and the offer are only addressed to and directed at persons
in [the UK]  [that Member State] who are qualified investors within the
meaning of the  EU  UK  Prospectus Regulation (or who are other persons to
whom the offer may lawfully be addressed) and must not be acted on or relied
on by other persons in [the UK] [that Member State](14).

This announcement is not an offer of securities for sale into the United
States. The securities have not been, and will not be, registered under the
United States Securities Act of 1933 and may not be offered or sold in the
United States absent registration or an exemption from registration. There
will be no public offer of securities in the United States.



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