Fineco bank pp 6.5 % eur new issue
Issuer
FinecoBank S.p.A..
Maturity
Perpetual
Issuer Rating
BBB by S&P (outlook Negative)
Expected Issue Rating
BB- by S&P
Nominal Amount
EUR 300,000,000 (will not grow)
Pricing Date
11 July 2019
Settlement Date
18 July 2019 – T+5
First Call Date
3 December 2024
First Interest Payment Date
3 December 2019
Ranking
Subordinated, ranking junior to all indebtedness (other than pari passu with the Notes), pari passu with other Additional Tier 1 Capital instruments and senior to share capital
IPTs
6.5% area (coupon)
Interest
Fixed rate of [·]% per annum until the First Call Date and thereafter reset every 5 years to the then 5-Year Mid-Swap Rate + Margin (no step-up); Non-cumulative and in each case payable semi-annually
Interest Payment Dates
3 December and 3 June in each year, from (and including) 3 December 2019
Documentation
Terms & Conditions (available), Agency Agreement, Subscription Agreement (including conditions precedent), due diligence satisfactory to the Joint Lead Managers and appropriate legal opinions
Governing Law
Italian Law
Day Count Fraction
Actual/Actual (ICMA)
Denomination
EUR 200,000 + EUR 1,000 thereafter
U.S. Selling Restrictions / Applicable TEFRA
The Notes may be offered and sold outside the United States to non U.S. persons in reliance on Regulation S under the Securities Act / TEFRA D applies
Listing
Euronext Dublin
Target market
MiFID II Eligible counterparties and professional clients only / No PRIIPs KID
