JPMorgan Cazenove Stabilisation Notice (4956S)
November 06 2023 - 4:22AM
UK Regulatory
TIDM37PB
RNS Number : 4956S
JPMorgan Cazenove
06 November 2023
6(th) November 2023
Not for distribution, directly or indirectly, in or into the
United States or any jurisdiction in which such distribution would
be unlawful.
Pension Insurance Corporation plc
Pre-stabilisation Period Announcement
J.P. Morgan Cazenove, (contact: Marc Lewell 0207 134 2468)
hereby gives notice, as Stabilisation Coordinator, that the
Stabilising Manager(s) named below may stabilise the offer of the
following securities in accordance with Commission Delegated
Regulation EU/xxx/2016 under the Market Abuse Regulation
(EU/596/2016).
The securities:
Issuer: Pension Insurance Corporation plc
-------------------------------------------------
Guarantor (if any): N/A
-------------------------------------------------
Aggregate nominal GBP Benchmark
amount:
-------------------------------------------------
Description: GBP 10yr Fixed Rate Tier 2 Notes
Listing: London Stock Exchange
-------------------------------------------------
Offer price: TBC
-------------------------------------------------
Other offer terms: GBP 100,000 + GBP 1,000
-------------------------------------------------
Stabilisation: Relevant Stabilisation regulation applies
Stabilisation Manager(s): J.P. Morgan Cazenove (Stabilisation coordinator)
Barclays (Stabilisation Manager(s))
Citi (Stabilisation Manager(s))
HSBC (Stabilisation Manager(s))
-------------------------------------------------
Stabilisation period 6(th) November 2023
expected to start
on:
-------------------------------------------------
Stabilisation period 6(th) December 2023
expected to end no
later than:
-------------------------------------------------
Existence, maximum The Stabilisation Manager(s) may over-allot
size and conditions the securities in an amount not exceeding
of use of over -- 5% of the aggregate nominal amount stated
allotment facility: above.
-------------------------------------------------
Stabilisation trading Over the counter, TBC
venue:
-------------------------------------------------
In connection with the offer of the above securities, the
Stabilising Manager(s), or persons acting on behalf of the
Stabilising Manager(s) may over-allot the securities, provided that
the aggregate principal amount of the securities allotted does not
exceed 105 percent of the aggregate principal amount of the
securities, or effect transactions with a view to supporting the
market price of the securities at a level higher than that which
might otherwise prevail. However, stabilisation may not necessarily
occur and any stabilisation action, if begun, may cease at any
time, but it must end no later than the earlier of 30 days after
the issue date of the securities and 60 days after the date of
allotment of the securities.
This announcement is for information purposes only and does not
constitute an invitation or offer to underwrite, subscribe for or
otherwise acquire or dispose of any securities of the Issuer in any
jurisdiction.
This announcement and the offer of the securities to which it
relates are only addressed to and directed at persons outside the
United Kingdom and persons in the United Kingdom who have
professional experience in matters related to investments or who
are high net worth persons within Article 12(5) of the Financial
Services and Markets Act 2000 (Financial Promotion) Order 2005 and
must not be acted on or relied on by other persons in the United
Kingdom.
In addition, if and to the extent that this announcement is
communicated in, or the offer of the securities to which it relates
is made in, any EEA Member State that has implemented Directive
2003/71/EC (together with any applicable implementing measures in
any Member State, the "Prospectus Directive") before the
publication of a prospectus in relation to the securities which has
been approved by the competent authority in that Member State in
accordance with the Prospectus Directive (or which has been
approved by a competent authority in another Member State and
notified to the competent authority in that Member State in
accordance with the Prospectus Directive), this announcement and
the offer are only addressed to and directed at persons in that
Member State who are qualified investors within the meaning of the
Prospectus Directive (or who are other persons to whom the offer
may lawfully be addressed) and must not be acted on or relied on by
other persons in that in that Member State
This announcement is not an offer of securities for sale into
the United States. The securities have not been, and will not be,
registered under the United States Securities Act of 1933 and may
not be offered or sold in the United States absent registration or
an exemption from registration. There will be no public offer of
securities in the United States.
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