Banco Comercial Portugues will early redeem AT1 notes on Jan. 31

By Mary Katherine Stinson

Lexington, Ky., Jan. 2 – Banco Comercial Portugues SA announced it will redeem €400 million of its outstanding additional tier 1 capital (ISIN: PTBCPFOM0043), according to a press release.

The fixed rate reset perpetual temporary write down additional tier 1 capital notes will be redeemed early on the first call date of Jan. 31.

The notes will be redeemed at their outstanding principal amount plus accrued interest.

As previously reported, the bank obtained permission from the ECB to reduce its own funds through the redemption, but the decision whether to exercise the redemption right was still under evaluation as of Nov. 13.

The notes were originally issued on Jan. 31, 2019.

The bank is based in Porto, Portugal.

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