NEW ISSUE: Swedbank AB (publ) €500m WNG 10NC5 Sub FXD; MS+135a
IGC European Market: Deal Flow - General
Issuer
Term
Call
Maturity
Size
Ranking
Type
IPT
Swedbank AB (publ)
10NC5
5y
29-Sep-36
€500m WNG
Sub
Fixed Rate Reset
MS+135a
IPTs: 10NC5: MS+135a
Issuer:Swedbank AB (publ)
LEI: M312WZV08Y7LYUC71685
Issuer Rating: Aa2/AA-/AA+ (Moody's/S&P/Fitch)
Exp. Issue Ratings: A3/A-/A (Moody's/S&P/Fitch)
Format: Reg S Bearer Notes evidenced by a Temporary Global Note exchangeable for a Permanent Global Note. TEFRA D Rules apply, no communications with or into the US or Canada (excluding Ontario)
Status: Subordinated Notes
Issue Size: €500m WNG
IPTs: MS+135a
Settlement: 29-Sep-26 (T+5)
Maturity: 29-Sep-36
Issuer Call: Issuer may redeem all (but not some only) of the Notes at par on the Optional Redemption Date, subject to the Relevant Regulator’s consent
Optional Redemption Date: 29-Sep-31
First Reset Date: 29-Sep-31
Coupon: [∙]% per annum, resetting on the First Reset Date to the prevailing 5-year € Mid Swap Rate and the First Margin
Interest Payment Dates: 29 September in each year, commencing on 29-Sep-27 up to (and including) the Maturity Date
Waiver of Set-off: No Holder of Notes who in the event of the liquidation or bankruptcy of the Issuer shall be indebted to the Issuer shall be entitled to exercise any right of set-off or counterclaim against moneys owed by the Issuer in respect of the Notes held by such Holder
Early Redemption: Upon the occurrence of a Tax Event, Withholding Tax Event or Capital Event the Issuer may redeem all (but not some only) of the Notes at Par, as further defined and outlined in the Base Prospectus, subject to the Relevant Regulator’s consent
Substitution and Variation: If at any time a Capital Event, a Withholding Tax Event or a Tax Event has occurred and is continuing, or in order to ensure the effectiveness and enforceability of the Swedish Statutory Loss Absorption Powers, the Issuer may, subject to the Conditions to Redemption, Purchase, Substitution and Variation, either substitute all (but not some only) or vary the terms of the Notes such that they remain, or as appropriate, become, Subordinated Qualifying Securities
Denominations: €100,000 + €1,000 increments
Day Count Fraction: Annual Act/Act (ICMA)
Listing: Euronext Dublin (Regulated market)
Governing Law: English law, save for Condition 3 (Status) which shall be governed by, and construed in accordance with, Swedish law
Business Days: T2
Clearing: Euroclear / Clearstream
Docs: Issued under the Swedbank AB (publ) GMTN Programme Base Prospectus dated 13-May-26
Acknowledgment of Swedish Statutory Loss Absorption Powers: Each Holder acknowledges and accepts that any liability arising under the Notes may be subject to the exercise of the Swedish Statutory Loss Absorption Powers by the Relevant Resolution Authority
Fees: The Joint Bookrunners will be paid a fee by the Issuer in connection with the transaction
MIFID II / UK MIFIR Target Market: MiFID II and UK MiFIR professionals/ECPs-only / No EEA PRIIPs KID or DISC disclosure document – Manufacturer target market (MiFID II product governance and UK MiFIR product governance rules) is eligible counterparties and professional clients only (all distribution channels). No EEA PRIIPs key information document (“KID”) or disclosure document required by the FCA Product Disclosure Sourcebook (“DISC”) has been prepared as the Notes are not deemed within scope / not available to retail in the EEA or the United Kingdom