DAL FOL
NEW ISSUE SUBORDINATED T2 EUR: BANCA POPOLARE ALTO ADIGE S.p.A. BB- FITCH 10NC5 YIELD TAL: 9.00%
Issuer
anca Popolare Alto Adige S.p.A. (Ticker: BPOPAA)
LEI:52990033C5FUEN4LMC06
Issuer Ratings: BB+ stable / BBBL stable (Fitch / DBRS)
Expected Issue Ratings
B- / BB (Fitch / DBRS)
Notes
ated Callable Subordinated Tier 2 Notes due September 2032
Status
ubordinated, unsecured, intended to qualify as Tier 2 capital
Form of the Notes:RegS Bearer form, New Global Notes
Issue Size:€[50-70]mm
Settlement Date:[9] September 2022
Maturity Date:[9] September 2032
Reset Date:[9] September 2027
Guidance:9.00%a
Coupon:[●]% per annum, fixed rate, payable annually in arrear on each Interest Payment Date (starting on the Interest Payment Date falling on [9] September 2023). One-time reset on [9 September] 2027 to the prevailing 5-y Euro Mid Swap Rate plus the Margin (no step-up)
Margin:[●]
Interest Payment Dates:[9] September in each year, commencing on [9] September 2023. Following Business Day Convention.
Business day count convention:Act/Act (ICMA)
Redemption at the Option of the Issuer:At par on [9] September 2027, one time call at the option of the Issuer subject to the Competent Authority granting permission, as required by the then applicable Banking Regulations and subject to Condition 13.d (Redemption at the Option of the Issuer (Issuer Call)) of the Italian Law Notes pursuant to the EMTN Programme dated 1 June 2022
Redemption for Tax Reasons:At par, applicable as per Condition 13.b (Redemption for Taxation Reasons) of the Italian Law Notes pursuant to of the EMTN Programme dated 1 June 2022
Redemption for Regulatory Reasons:
At par, applicable as per Condition 13.c (Redemption for Regulatory Reasons) of the Italian Law Notes pursuant to the EMTN Programme dated 1 June 2022
Waiver of set-off:
The holder of a Note will unconditionally and irrevocably waive any right of set-off, counterclaim, abatement or other similar remedy which it might otherwise have under the laws of any jurisdiction in respect of such Note
Statutory Bail-in Powers:
Subordinated Notes may be subject to loss absorption on any application of the general bail-in tool as described in Condition 26 (Agreement and Acknowledgment with Respect to the Exercise of Bail-in Power) of the Italian Law Notes pursuant to the EMTN Programme dated 1 June 2022, and each Noteholder acknowledges and agrees to be bound by the exercise of any Bail-in Power by the Relevant Resolution Authority
Target Market:
Manufacturer target market (MIFID II 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 the UK
Denomination: EUR 200,000 + integral multiples of EUR 1,000 in excess thereof up to (and including) €399,000.
Governing Law:Italian law
Timing
ooks open