TIDM10NG TIDM55MJ

RNS Number : 8681O

TSB Bank PLC

03 June 2020

FOR DISTRIBUTION ONLY OUTSIDE THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS TO PERSONS OTHER THAN "U.S. PERSONS" (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT")). NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN, ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT.

3 June 2020

TSB BANK PLC

(incorporated in Scotland with limited liability under registered number SC095237)

Legal Entity Identifier (LEI: 549300XP222MV7P3CC54)

(the "Issuer")

NOTICE OF ADJOURNED MEETING

to the holders of the

GBP500,000,000 Series 2017-1 Floating Rate Covered Bonds due December 2022 (ISIN: XS1729158508)

(the Series 2017-1 Covered Bonds, and the holders thereof, the Covered Bondholders) of the Issuer presently outstanding.

The Issuer has today given notice of an adjourned meeting of the Series 2017-1 Covered Bonds (the Meeting) for the purpose of soliciting a consent to the modification of the terms and conditions thereof and consequential or related amendments to the transaction documents thereof such that the existing Sterling LIBOR interest basis of the Series 2017-1 Covered Bonds is replaced by a Compounded Daily SONIA interest basis, as proposed by the Issuer (the "Proposal") for approval by extraordinary resolution of the Covered Bondholders of the Series 2017-1 Covered Bonds, all as further described in the consent solicitation memorandum dated 12 May 2020 (the "Consent Solicitation Memorandum").

To view the Notice of Adjourned Meeting, please paste the following URL into the address bar of your browser:

http://www.rns-pdf.londonstockexchange.com/rns/8681O_1-2020-6-3.pdf

Capitalised terms used but not defined herein shall have the meanings set out in the Consent Solicitation Memorandum.

Further information relating to the Consent Solicitation can be obtained directly from the Solicitation Agent and the Tabulation Agent:

 
  Lloyds Bank Corporate Markets plc                 Lucid Issuer Services Limited 
   10 Gresham Street                                 Tankerton Works 
   London EC2V 7AE                                   12 Argyle Walk 
   United Kingdom                                    London WC1H 8HA 
   Telephone: +44 20 7158 1719/1726                  United Kingdom 
   Attention: Liability Management Group             Telephone: +44 20 7704 0880 
   Email: liability.management@lloydsbanking.com     Attention: David Shilson 
                                                     Email:tsb@lucid-is.com

DISCLAIMER: This announcement must be read in conjunction with the Consent Solicitation Memorandum. The Consent Solicitation Memorandum contains important information which should be read carefully before any decision is made with respect to the consent solicitation. If any Covered Bondholder is in any doubt as to the action it should take, it is recommended to seek its own financial advice, including as to any tax consequences, from its stockbroker, bank manager, solicitor, accountant, independent financial adviser authorised under the Financial Services and Markets Act 2000, as amended (if in the United Kingdom) or other appropriately authorised financial adviser. Any individual or company whose Series 2017-1 Covered Bonds are held on its behalf by a broker, dealer, bank, custodian, trust company or other nominee must contact such entity if it wishes to participate in the consent solicitation.

The distribution of the Consent Solicitation Memorandum in certain jurisdictions may be restricted by law. Persons into whose possession the Consent Solicitation Memorandum comes are required by the Issuer, the LLP, the Solicitation Agent and the Tabulation Agent to inform themselves about, and to observe, any such restrictions.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

MSCUPUAAQUPUGCW

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June 03, 2020 11:40 ET (15:40 GMT)

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