Korea's Woori Bank calls $1 billion step-up lower tier 2 notes

By Marisa Wong

Madison, Wis., March 17 - Woori Bank said it will redeem its $1 billion step-up fixed-rate lower tier 2 subordinated notes due May 3, 2016.

The notes will be redeemed and cancelled on May 3.

The notes were issued under the bank's $7 billion global medium-term note program in 2006.

The bank is based in Seoul, South Korea.

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