New Issue: Standard Chartered sells $1.5 billion of 6.097% reset notes due 2035

By Mary-Katherine Stinson

Lexington, Ky., Jan. 5 – Standard Chartered plc priced $1.5 billion of reset notes due Jan. 11, 2035 (A3/BBB+/A) on Thursday, according to a final term sheet.

The notes, which priced at par, bear interest initially at 6.097% with a first margin of 210 basis points.

The first reset date is Jan. 11, 2034, which is also the optional redemption date.

The Regulation S and Rule 144A registered notes have a clean-up call threshold of 75%.

Goldman Sachs & Co., LLC, Morgan Stanley & Co. LLC, Scotia Capital (USA) Inc., Standard Chartered Bank and TD Securities (USA) LLC are the bookrunners.

The notes were issued under the bank’s $77.5 billion debt issuance program.

The bank is based in London.

Issuer:	Standard Chartered plc
Amount:	$1.5 billion
Issue:	Notes, series 281, tranche 1
Maturity:	Jan. 11, 2035
Bookrunners:	Goldman Sachs & Co., LLC, Morgan Stanley & Co. LLC, Scotia Capital (USA) Inc., Standard Chartered Bank and TD Securities (USA) LLC
Co-managers:	Bank of China Ltd., London Branch, Bank of Communications Co., Ltd. Hong Kong, BMO Capital Markets Corp., CIBC World Markets Corp., CIMB Bank Bhd., Labuan Offshore Branch, First Abu Dhabi Bank PJSC, Mashreqbank psc, QNB Capital LLC, Truist Securities, Inc. and Standard Chartered Bank
Coupon:	6.097% initially; resets on Jan. 11, 2034
Price:	Par
Yield:	6.097%
Spread:	210 bps
Call:	On Jan. 11, 2034
Pricing date:	Jan. 4
Settlement date:	Jan. 11
Ratings:	Moody’s: A3
	S&P: BBB+
	Fitch: A
Distribution:	Regulation S and Rule 144A
Cusips:	G84228GC6, 853254CZ1

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