The notes are priced at 100% and will carry a coupon of 4.602% per annum (p.a.) from the issue date to the call date on June 15, 2027.
Oversea-Chinese Banking Corporation (OCBC) has priced US$750 million ($1.03 billion) worth of fixed rate subordinated notes, which are to be drawn down under its US$30 billion global medium term note programme.
The USD-denominated notes are expected to qualify as the bank’s Tier 2 capital under the Monetary Authority of Singapore’s (MAS) requirements.
