New UniCredit S.p.A. EUR Tier 2 10NC5 €€€ - IPT at 5.125% area
Issuer:.......................UniCredit S.p.A
Issuer Ratings:...............Baa1 Stable (Moody’s), BBB negative (S&P), BBB negative (Fitch)
Expected Issue Ratings:.......Ba1 (Moody’s), BB+ (S&P), BBB- (Fitch)
Security:.....................Subordinated Tier 2
Offering Format:..............RegS Bearer, Compliance Category 2; TEFRA D
Issue Size:...................EUR benchmark
Settlement Date:..............[20] February 2019 (t+5)
Maturity Date:................[20] February 2029
Optional Redemption Date:.....At par. In whole but not in part, on [20] February 2024 at the Issuer’s discretion, subject to regulatory approval
Coupon/Interest:..............Fixed rate, payable annually in arrears. Single reset on [20] February 2024 to the prevailing 5-y Euro Mid Swap Rate plus the Initial Margin
Interest on Notes:............Annual, Act/Act, until [20] February 2024. Reset after Optional Redemption Date
Tax Call:.....................At par. Applicable as per Condition 7.2 in the EMTN Programme, at their Early Redemption Amount together with accrued interest to (but excluding) the date of redemption
Reg Call:.....................At par. Applicable as per Condition 7.3 in the EMTN Programme, at their Early Redemption Amount together with accrued interest to (but excluding) the date of redemption
PONV:.........................Statutory (risk factors)
IPTs:.........................5.125% area
Docs:.........................EMTN Programme dated 7 June 2018 and respective supplements (dated 23 Nov 2018 and 11 Feb 2019)
Denoms:.......................Eur 200k + 1k
Listing:......................Luxembourg Stock Exchange’s Regulated Market
Clearing:.....................Euroclear / Clearstream
Governing Law:................Italian Law
Target Market:................Eligible Counterparties and Professional clients only (all distribution channels) No PRIIPs key information document (KID) has been prepared as not available to retail in EEA
Fees:.........................The Banks will be paid a fee by the Issuer in relation to the transaction
Bookrunners:.................. BNP Paribas, HSBC, Mediobanca, Morgan Stanley, Santander and UniCredit (B&D)
CoLeads:......................TBA
Timing:.......................Today’s business
Issuer:.......................UniCredit S.p.A
Issuer Ratings:...............Baa1 Stable (Moody’s), BBB negative (S&P), BBB negative (Fitch)
Expected Issue Ratings:.......Ba1 (Moody’s), BB+ (S&P), BBB- (Fitch)
Security:.....................Subordinated Tier 2
Offering Format:..............RegS Bearer, Compliance Category 2; TEFRA D
Issue Size:...................EUR benchmark
Settlement Date:..............[20] February 2019 (t+5)
Maturity Date:................[20] February 2029
Optional Redemption Date:.....At par. In whole but not in part, on [20] February 2024 at the Issuer’s discretion, subject to regulatory approval
Coupon/Interest:..............Fixed rate, payable annually in arrears. Single reset on [20] February 2024 to the prevailing 5-y Euro Mid Swap Rate plus the Initial Margin
Interest on Notes:............Annual, Act/Act, until [20] February 2024. Reset after Optional Redemption Date
Tax Call:.....................At par. Applicable as per Condition 7.2 in the EMTN Programme, at their Early Redemption Amount together with accrued interest to (but excluding) the date of redemption
Reg Call:.....................At par. Applicable as per Condition 7.3 in the EMTN Programme, at their Early Redemption Amount together with accrued interest to (but excluding) the date of redemption
PONV:.........................Statutory (risk factors)
IPTs:.........................5.125% area
Docs:.........................EMTN Programme dated 7 June 2018 and respective supplements (dated 23 Nov 2018 and 11 Feb 2019)
Denoms:.......................Eur 200k + 1k
Listing:......................Luxembourg Stock Exchange’s Regulated Market
Clearing:.....................Euroclear / Clearstream
Governing Law:................Italian Law
Target Market:................Eligible Counterparties and Professional clients only (all distribution channels) No PRIIPs key information document (KID) has been prepared as not available to retail in EEA
Fees:.........................The Banks will be paid a fee by the Issuer in relation to the transaction
Bookrunners:.................. BNP Paribas, HSBC, Mediobanca, Morgan Stanley, Santander and UniCredit (B&D)
CoLeads:......................TBA
Timing:.......................Today’s business