Distributions will be payable semi-annually in arrear unless cancelled by the bank.
The securities, which are intended to qualify as Additional Tier 1 (AT1) regulatory capital of the bank, may be redeemed on Jan 21, 2033 or on distribution payment date thereafter. It may also be redeemed upon the occurrence of certain redemption events.
The securities are expected to be rated Baa1 by Moody’s Investors Service and BBB+ by Fitch Ratings.
Shares in UOB closed 32 cents higher or 0.88% up at $36.51 on Jan 14.
