bia06
Listen other's viewpoint avoid conflicts & wars.
Ciao a tutti. Abbiamo diritto di scambiarla?
La mia banca dice che non ne sa niente.
Avete notizie? Io sarei tentato di switchare sulla nuova se potessi. Voi no?
Qui sotto l'offerta di sottoscrizione a mercato stamane.
Grazie
€€€ Novo Banco EUR 400mn exp. 10.5NC5.5 T2 – Comps €€€
La mia banca dice che non ne sa niente.
Avete notizie? Io sarei tentato di switchare sulla nuova se potessi. Voi no?
Qui sotto l'offerta di sottoscrizione a mercato stamane.
Grazie
| ssuer | Novo Banco S.A. |
| LEI | 5493009W2E2YDCXY6S81 |
| Issuer Ratings | Ba3 (pos)/BBL (stab) by Moody’s/DBRS |
| Expected Issue Ratings | B1/B by Moody’s/DBRS |
| Form of the Notes | Reg S, dematerialised book-entry and registered form |
| Status of the Notes | Direct, unsecured, unguaranteed and subordinated obligations of the Issuer |
| Size | EUR 400mn exp. |
| Settlement Date | 01 June 2023 (T+6) |
| Maturity Date | 01 December 2033 |
| Reset Date | 01 December 2028 |
| IPTs | 10.25% area |
| Coupon | [●]% per annum (fixed) until 01 December 2028. One time reset after year 5.5 to prevailing 5Y MS + Margin ([●]bps]. Fixed, Annual, Act/Act (ICMA), Following Unadjusted |
| Interest Payment Dates | Payable in arrear on 01 December in each year up to and including the Maturity Date commencing on 01 December 2023 with short first coupon for the first payment |
| Early Redemption Amount | €100,000 per Specified Denomination |
| Call Option | Applicable at par, subject to prior Supervisory Permission |
| Optional Redemption Date | Any date from (and including) 01 June 2028 to (and including) the Reset Date |
| Optional Redemption Amount | €100,000 per Specified Denomination |
| Clean-up Call Option | Applicable. If the Clean-up Call Minimum Percentage (or more) of the principal amount outstanding of the Notes originally issued has been redeemed, the Issuer may, subject to having given not more than 60 nor less than 10 days notice, redeem all (but not some only) of the Notes then outstanding at the Clean-up Call Option Amount from (and including) the Clean-up Call Effective Date, subject to prior Supervisory Permission |
| Clean-up Call Minimum Percentage | 75% |
| Clean-up Call Option Amount | €100,000 per Specified Denomination |
| Optional Redemption for Tax Event or Capital Disqualification Event | At par, together with any accrued and unpaid interest thereon to (but excluding) the date fixed for redemption, subject to prior Supervisory Permission |
| Substitution or Variation | Upon a Capital Disqualification Event or Tax Event, the Issuer may, but without any requirement for consent or approval of the Holders, either substitute or vary the terms of the Notes so that they remain Tier 2 Compliant Notes, subject to prior Supervisory Permission |
| Events of Default | If the Issuer shall not make payment in respect of the Notes for a period of 14 days or more after the date on which such payment is due, the Issuer shall be deemed to be in default under the Instrument and the Notes and a Holder may notwithstanding the provisions of Condition 6(b), institute proceedings for the winding-up of the Issuer |
| Use of Proceeds | General corporate purposes, including the refinancing of existing debt. Such refinancing may relate to the repurchase of some or all of the Issuer’s outstanding EUR 400,000,000 8.500 per cent. Fixed Rate Reset Callable Subordinated Notes due 2028 (ISIN: PTNOBFOM0017) pursuant to the tender offer announced by the Issuer on 22 May 2023 |
| Clearing Systems | Interbolsa |
| Listing | Euronext Dublin |
| Waiver of Set-off | Applicable |
| Governing Law | English Law, save Condition 1 (Form, Denomination, Title and Transfer), 2 (Status; no Set-Off) and 12(d) (Acknowledgement of Statutory Loss Absorption Powers), which are governed by in accordance with Portuguese law |
| Statutory Loss Absorption | Each Noteholder acknowledges and accepts that any liability arising under the Notes may be subject to the exercise of Statutory Loss Absorption Powers by the Relevant Resolution Authority |
| Documentation | EUR 5,000,000,000 Euro Medium Term Note Programme dated 19 May 2023 |
| Denominations | EUR 100,000 |
| Selling Restrictions | As per the Base Prospectus dated 19 May 2023 (Reg S Cat 2) |
| ISIN/Common Code | PTNOBLOM0001/[●] |
| Joint Lead Managers | BofA Securities (B&D), Citigroup, Crédit Agricole CIB, Credit Suisse, J.P. Morgan and Societe Generale |
| Fees | The Banks will be paid a fee by the Issuer in respect of the placement of the securities. Details of the fee may be made available to investors on request from your usual sales contact |
| Target Market | Manufacturer target market (MIFID II product governance and UK MIFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs or UK PRIIPs key information document (KID) has been prepared as not available to retail in EEA or UK |
| Advertising | This communication is an advertisement for the purposes of Regulation (EU) 2017/1129 and underlying legislation. It is not a prospectus. The Final Terms, when published, will be available on the website of Euronext Dublin (https://www.ise.ie) |
| Stabilisation | Relevant stabilisation regulations apply |
| Timing | Books open; today’s business |
€€€ Novo Banco EUR 400mn exp. 10.5NC5.5 T2 – Comps €€€
