Book size: 1900; First Pay: 2026-02-24; Redemption: 2030-11-24; Registration: Reg S Only; Comments: EUR850m 30NC5.25 fxd-rate-reset cpn 3.750% at 99.779, yld 3.80%. Spread: MS+ 135.2bps. DBR 0 02/15/31 +150.6bps (@ 88.79). Par Call: 3m. Clean-up Call: 75%. CoC: Yes. Tax Call: Yes. Reset Date: 02/24/2031 LEI: 529900OAREIS0MOPTW25;
Use of Proceeds
General corporate purposes, including the refinancing of outstanding subordinated notes, especially by a potential repurchase of certain of its outstanding EUR 841.7mn Subordinated Fixed to Reset Rate Notes due 09 September 2080 with a first call date in 2026 (ISIN: XS2218405772)