If the notes are not redeemed, the interest rate from the call date to the maturity date on Sept 10, 2030, will be reset to a fixed rate per annum equal to the aggregate of the then-prevailing 5-year U.S. Treasury Rate and 1.58%.
Oversea-Chinese Banking Corporation Limited (OCBC Bank) has priced US$1 billion ($1.36 billion) of fixed rate subordinated notes under its US$30 billion Global Medium Term Note Programme.
The US$-denominated notes are priced at 100% and will carry a coupon of 1.832% per annum from the issue date to the call date on Sept 10, 2025.
