Issuer:
illimity Bank S.p.A. (Ticker: ILTYIM)
Issuer Ratings:
B+ (Fitch)
Expected Issue Ratings:
(Fitch)
Status:
Senior preferred, unsecured unsubordinated. Eligible liabilities instruments according to Article 72b CRR2
Format:
Reg S Bearer, New Global Note
Size:
EUR 300m (exp.)
Pricing Date:
3 December 2020
Settlement Date:
11 December 2020 (T+6)
Maturity Date:
11 December 2023
Coupon:
Fixed Rate [●]% p.a., payable annually in arrear on each Interest Payment Date
Interest Payment Dates:
11 December in each year, commencing 11 December 2021 until the Maturity Date
Day Count Fraction:
Actual/Actual ICMA
IPTs:
3.75-4.00%
Acknowledgement of Bail-in Power:
Each Noteholder acknowledges, accepts, consents to and agrees to be bound by the effects of the exercise of the Bail-in Power by the Relevant Authority
Optional Redemption:
Early Redemption (in whole but not in part) for Tax Event or upon the occurrence of an MREL Disqualification Event, subject to certain conditions
Variation :
Applicable in relation to MREL Disqualification Event and in order to ensure the effectiveness and enforceability of Condition 23 (Acknowledgment of Bail-in Power)
Waiver of Set-off Rights:
Applicable
Events of Default:
None. However Noteholders may cause the Notes to become due and payable, together with any accrued interest, if any, if the Issuer becomes subject to compulsory winding-up (liquidazione coatta amministrativa) or voluntary winding-up (liquidazione volontaria) as defined in Legislative Decree No. 385 of 1 September 1993 of the Republic of Italy
Listing:
Irish Stock Exchange
Clearing:
Euroclear, Clearstream
Denominations:
Euro 100,000 and integral multiples of Euro 1,000 in excess thereof up to and including Euro 199,000
Docs:
EUR 3bn EMTN Programme dated 1st October 2020 as supplemented on 1 December 2020
Selling Restrictions:
As per the Base Prospectus (RegS, TEFRA D rules apply. No communications with or into the U.S.)
Target Market:
Manufacturers target market (MIFID II product governance) is eligible counterparties and professional investors only (all distribution channels). No PRIIPs key information document (KID) has been prepared as not available to retail in EEA or the United Kingdom
Governing Law:
Italian law
Timing:
Today’s Business, books open