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Issuer: BPER Banca S.p.a. (Ticker: BPEIM)
Issuer Ratings: Ba2 (Moody’s) / BB (Fitch)
Security: Dated Callable Subordinated, Tier 2
Expected Issue Ratings: [B1] (Moody’s) / [BB-] (Fitch)
Format: Reg S, bearer form, no communications with or into the US, no sales to Canada
Size: EUR TBC
Coupon: Fixed, Annual, Act/Act (ICMA), one time reset after year 5 to prevailing 5yr MS + Margin
IPTs: mid 5´s%area
Settlement: [31st] May 2017
Maturity: [31st] May 2027
Issuer’s Call: [31st] May 2022 (one-time) at par, subject to prior regulatory authorisation
Regulatory Call: At any time at par, upon full (or, to the extent
permitted by applicable regulations, partial)
exclusion from the Tier 2 Capital of the Issuer,
subject to prior regulatory authorisation
Tax call: At any time at par, as a result of required additional amounts (withholding tax), subject to prior regulatory authorisation
Non-Viability: Statutory (with contractual recognition of such powers)
Listing: Luxembourg Stock Exchange Regulated Market
Denoms: €100k + €1k
Docs: Issuer’s EUR 6 bn EMTN Programme as of 28 March 2017 as supplemented
Governing Law: English except for Subordination which shall be governed by Italian law
Bookrunners: Barclays / Citi / GSI / Mediobanca / Santander (B&D)
ISIN: [ ]
Timing: Books open, taking IOIs
Issuer Ratings: Ba2 (Moody’s) / BB (Fitch)
Security: Dated Callable Subordinated, Tier 2
Expected Issue Ratings: [B1] (Moody’s) / [BB-] (Fitch)
Format: Reg S, bearer form, no communications with or into the US, no sales to Canada
Size: EUR TBC
Coupon: Fixed, Annual, Act/Act (ICMA), one time reset after year 5 to prevailing 5yr MS + Margin
IPTs: mid 5´s%area
Settlement: [31st] May 2017
Maturity: [31st] May 2027
Issuer’s Call: [31st] May 2022 (one-time) at par, subject to prior regulatory authorisation
Regulatory Call: At any time at par, upon full (or, to the extent
permitted by applicable regulations, partial)
exclusion from the Tier 2 Capital of the Issuer,
subject to prior regulatory authorisation
Tax call: At any time at par, as a result of required additional amounts (withholding tax), subject to prior regulatory authorisation
Non-Viability: Statutory (with contractual recognition of such powers)
Listing: Luxembourg Stock Exchange Regulated Market
Denoms: €100k + €1k
Docs: Issuer’s EUR 6 bn EMTN Programme as of 28 March 2017 as supplemented
Governing Law: English except for Subordination which shall be governed by Italian law
Bookrunners: Barclays / Citi / GSI / Mediobanca / Santander (B&D)
ISIN: [ ]
Timing: Books open, taking IOIs