Issuer: Banco BPM S.p.A (BAMIIM)
Issuer Ratings: Ba2 Negative(Moody’s), BBBL Stable (DBRS)
Expected Issue Ratings: B1 (Moody’s), BB (DBRS)
Security Subordinated Tier 2
Offering Format: RegS Bearer, Compliance Category 2; TEFRA D
Issue Size: €300mm Minimum
Settlement Date: [1] October 2019 (t+5)
Maturity Date: [1] October 2029
Optional Redemption Date: At par. In whole but not in part, on [1 October 2024] at the Issuer’s discretion, subject to regulatory approval
Coupon/Interest: [x]%, Fixed rate, Act/Act, payable annually in arrears. Single reset on [1 October 2024] to the prevailing 5-y Euro Mid Swap Rate plus the Initial Margin
Margin: [x]bps
Benchmark: TBA
IPT: 4.625% area (equivalent to MS+505bps area)
Tax Call: At par. Applicable as per Condition 6.2 of the Terms & Conditions for the Italian Law Notes 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 6.3 of the Terms & Conditions for the Italian Law Notes in the EMTN Programme, at their Early Redemption Amount together with accrued interest to (but excluding) the date of redemption
Loss Absorption / Contractual recognition of statutory bail-in power: Subordinated Notes may be subject to loss absorption on any application of the general bail-in tool or at the point of non-viability of the Issuer discussed in Risk Factors of the EMTN Programme ; Each Noteholder acknowledges and agrees to be bound by the exercise of any Bail-in Power by the Relevant Authority
Docs: EMTN Programme dated 12 July 2019, as supplemented (dated 6 Sep 2019)
Denoms: Eur 100k + 1k
Listing: Luxembourg Stock Exchange’s Regulated Market
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
Advertisment: The Base Prospectus and any supplements are available: EMTN Programme : Banco BPM and the Final Terms, when published, will be available on the website of the regulated market Programme-BcBPM - EUR 25 000 000 000 Euro Medium Term Note Programme - Luxembourg Stock Exchange
Timing: Today’s Business
Bookrunners: Banca Akros, Crédit Agricole CIB, Goldman Sachs International, HSBC, Morgan Stanley, and UBS
Issuer Ratings: Ba2 Negative(Moody’s), BBBL Stable (DBRS)
Expected Issue Ratings: B1 (Moody’s), BB (DBRS)
Security Subordinated Tier 2
Offering Format: RegS Bearer, Compliance Category 2; TEFRA D
Issue Size: €300mm Minimum
Settlement Date: [1] October 2019 (t+5)
Maturity Date: [1] October 2029
Optional Redemption Date: At par. In whole but not in part, on [1 October 2024] at the Issuer’s discretion, subject to regulatory approval
Coupon/Interest: [x]%, Fixed rate, Act/Act, payable annually in arrears. Single reset on [1 October 2024] to the prevailing 5-y Euro Mid Swap Rate plus the Initial Margin
Margin: [x]bps
Benchmark: TBA
IPT: 4.625% area (equivalent to MS+505bps area)
Tax Call: At par. Applicable as per Condition 6.2 of the Terms & Conditions for the Italian Law Notes 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 6.3 of the Terms & Conditions for the Italian Law Notes in the EMTN Programme, at their Early Redemption Amount together with accrued interest to (but excluding) the date of redemption
Loss Absorption / Contractual recognition of statutory bail-in power: Subordinated Notes may be subject to loss absorption on any application of the general bail-in tool or at the point of non-viability of the Issuer discussed in Risk Factors of the EMTN Programme ; Each Noteholder acknowledges and agrees to be bound by the exercise of any Bail-in Power by the Relevant Authority
Docs: EMTN Programme dated 12 July 2019, as supplemented (dated 6 Sep 2019)
Denoms: Eur 100k + 1k
Listing: Luxembourg Stock Exchange’s Regulated Market
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
Advertisment: The Base Prospectus and any supplements are available: EMTN Programme : Banco BPM and the Final Terms, when published, will be available on the website of the regulated market Programme-BcBPM - EUR 25 000 000 000 Euro Medium Term Note Programme - Luxembourg Stock Exchange
Timing: Today’s Business
Bookrunners: Banca Akros, Crédit Agricole CIB, Goldman Sachs International, HSBC, Morgan Stanley, and UBS