Tutto quello che avreste sempre voluto sapere sulle obbligazioni perpetue... - Cap. 4 bis

IPT: BBVA €Benchmark 12NC7 Tier 2 MS+200 Area​

  • EUR Benchmark 12NC7 Sub Variable (Feb. 25, 2037) MS+200 Area
    • Coupon: Annual, act/act ICMA
  • Issuer: Banco Bilbao Vizcaya Argentaria SA (BBVASM)
  • Exp. Ratings: Baa2/BBB/BBB-
  • Format: Reg S, bearer, subordinated note, Tier 2
  • Clean-up call (75%), tax changes call, regulatory / capital disqualification call
  • Standard Call: Callable on Feb. 25, 2032 at 100
  • UOP: GCP
  • Settlement: Feb. 25, 2025
  • Denoms: 100k x 100k
  • ISIN: XS3009012470
  • Bookrunners: BBVASM, DB, ING, Natixis, SocGen
  • Coupon: Fixed until Feb. 25, 2032. If not redeemed, coupon resets at 5Y MS + reset margin, subject to Benchmark Discontinuation provisions
  • Target Market: Eligible counterparties and professional clients only
 

IPT: BBVA €Benchmark 12NC7 Tier 2 MS+200 Area​

  • EUR Benchmark 12NC7 Sub Variable (Feb. 25, 2037) MS+200 Area
    • Coupon: Annual, act/act ICMA
  • Issuer: Banco Bilbao Vizcaya Argentaria SA (BBVASM)
  • Exp. Ratings: Baa2/BBB/BBB-
  • Format: Reg S, bearer, subordinated note, Tier 2
  • Clean-up call (75%), tax changes call, regulatory / capital disqualification call
  • Standard Call: Callable on Feb. 25, 2032 at 100
  • UOP: GCP
  • Settlement: Feb. 25, 2025
  • Denoms: 100k x 100k
  • ISIN: XS3009012470
  • Bookrunners: BBVASM, DB, ING, Natixis, SocGen
  • Coupon: Fixed until Feb. 25, 2032. If not redeemed, coupon resets at 5Y MS + reset margin, subject to Benchmark Discontinuation provisions
  • Target Market: Eligible counterparties and professional clients only
Grazie
 
Mitsubishi UFJ Investor Services & Banking [Luxembourg] S.A. 7,505% 09/50 Bond | A1G7J5 | XS0413650218 | Price

Qui è cambiato pure il nome dell’emittente ( espromissione, accollo o cos’altro?)
Si conferma min 100.000
Ricordo all’epoca dell'emissione si parlava di diverse possibili fregature tipo :
  • Niente cedola con bilancio in perdita
  • Niente cedola anche per le successive tre scadenze
  • Niente cedola se non si distribuisce dividendo
Non so se tutto sia a descrizione dell’emittente o in automatico, come non so se i bond siano memory o no .

Qualcuno pf è in grado di fare una puntualizzazione ? Grazie mille
Mi risulta che il Rating attribuito all’emittente sia ottimo pari ad A, non so hanno l’effetto memoria ma non credo, fino ad ora dovrebbe aver distrubuito solo due cedole “normali” nel 2015 ma il titolo è stato emesso nel 2008, taglio 100k €
 

IPT: BBVA €Benchmark 12NC7 Tier 2 MS+200 Area​

  • EUR Benchmark 12NC7 Sub Variable (Feb. 25, 2037) MS+200 Area
    • Coupon: Annual, act/act ICMA
  • Issuer: Banco Bilbao Vizcaya Argentaria SA (BBVASM)
  • Exp. Ratings: Baa2/BBB/BBB-
  • Format: Reg S, bearer, subordinated note, Tier 2
  • Clean-up call (75%), tax changes call, regulatory / capital disqualification call
  • Standard Call: Callable on Feb. 25, 2032 at 100
  • UOP: GCP
  • Settlement: Feb. 25, 2025
  • Denoms: 100k x 100k
  • ISIN: XS3009012470
  • Bookrunners: BBVASM, DB, ING, Natixis, SocGen
  • Coupon: Fixed until Feb. 25, 2032. If not redeemed, coupon resets at 5Y MS + reset margin, subject to Benchmark Discontinuation provisions
  • Target Market: Eligible counterparties and professional clients only
Cedola 4% - reoffer 99.91 - MS+165bps - YTC 4.015%
 

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