UniCredit - UniCredit issues EUR 1.25 billion Additional Tier 1 PerpNC 6/2027 Notes (AT1)

KOMISJA NADZORU FINANSOWEGO

Raport bieżący nr 8 / 2020

Data sporządzenia: 2020-02-12

Skrócona nazwa emitenta

UniCredit

Temat

UniCredit issues EUR 1.25 billion Additional Tier 1 PerpNC 6/2027 Notes (AT1)

Podstawa prawna

Inne uregulowania

Treść raportu:

PRESS RELEASE UniCredit issues EUR 1.25 billion Additional Tier 1 PerpNC 6/2027 Notes (AT1) Coupon at 3.875%, the lowest AT1 coupon in EUR ever paid by a G-Sib. An exceptionally strong and granular order-book of more than EUR 9 billion allowed to tighten the spread by 75 bps from initial price talks. UniCredit S.p.A. has issued today Non-Cumulative Temporary Write-Down Deeply Subordinated Fixed Rate Resettable Notes - Additional Tier 1, for a total amount of EUR 1.25 billion targeted to institutional investors. UniCredit decided to proceed with the transaction to continue to strengthen its regulatory capital taking advantage of the extremely positive market window. The Additional Tier 1 notes - included in the 2020 Funding Plan - are completing UniCredit’s AT1 issuance needs for the year and will contribute to improve the Tier 1 ratio. Given the extraordinary market feedback, the guidance initially set at 4.625% area was reviewed to 4.125% area. The coupon was finally fixed at 3.875%, amongst the lowest AT1 coupon ever paid in EUR. The transaction has encountered an impressive demand from more than 500 institutional investors, mainly funds (70%) and banks (25%), with the final allocation originated by UK (21%), France (20%), Swiss (12%), Asia (12%) and Italy (10%). The Notes have a 5.125% Common Equity Tier 1 (CET1) trigger - if the Group or Issuer CET1 ratio at any time falls below the trigger level, the instrument will be temporarily written down to cure the breach, taking into consideration other instruments with similar write down triggers, ranking pari-passu. The securities are perpetual (with maturity linked to corporate duration of UniCredit S.p.A.) and may be called by the Issuer on 3rd June, 2027 and thereafter on any interest payment date, subject to Regulatory approval. Notes pay fixed rate coupons of 3.875% per annum up to June 2027 on a semi-annual basis; if not called, coupon will be reset every 5 years to the aggregate of the then 5-Years Mid-Swap rate plus 408.1 bps, calculated on an annual basis and then converted to a semi-annual rate in accordance with market conventions. In line with the regulatory requirements, the coupon payments are fully discretionary. BNPP, Citi, CS, Deutsche Bank, Goldman Sachs International, Santander and UniCredit Bank AG have managed the placement acting as joint bookrunners. The Notes are expected to be rated: “Ba3” (Moody’s) / “B+“ (Fitch). Milan, 12 th February 2020 Enquiries: Media Relations: Tel. [phone]; e-mail: [email protected] Investor Relations: Tel: [phone]; e-mail: [email protected]

Załączniki

Plik Opis

20200212 Press ENG_ITA_AT1.pdf Press release ENG_ITA

MESSAGE (ENGLISH VERSION)

UniCredit S.p.A.

(pełna nazwa emitenta)

UniCredit Banki (ban)

(skrócona nazwa emitenta) (sektor wg. klasyfikacji GPW w W-wie)

00187 Rzym

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Specchi 16

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00348170101 n/a

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PODPISY OSÓB REPREZENTUJĄCYCH SPÓŁKĘ

Data Imię i Nazwisko Stanowisko/Funkcja Podpis

2020-02-12 Lorenzo Berneri UniCredit Media Relations