By Stephanie N. Rotondo
Seattle, Dec. 8 – UniCredit SpA completed a €500 million offering of 0% equity-linked certificates mandatorily settled in ordinary shares of Bank Pekao SA, according to a press release.
The securities were issued at 85.85% of the reference amount.
Morgan Stanley & Co. LLC, UBS Securities LLC and UniCredit CIB are the joint bookrunners.
Once issued, the certificates have 10,000 underlying shares each. The minimum settlement price will be determined by the volume weighted average price as of Dec. 9, converted into euros. The maximum settlement price will be a 15% premium over that price.
Unless previously redeemed or converted, the issue will mandatorily convert on Dec. 15, 2019.
Proceeds will be used for general corporate purposes.
UniCredit is a Milan, Italy-based bank.
| Issuer: | UniCredit SpA
|
| Underlying shares: | Bank Pekao SA
|
| Securities: | Equity-linked certificates
|
| Amount: | €500 million
|
| Maturity: | Dec. 15, 2019
|
| Bookrunners: | Morgan Stanley & Co. LLC, UBS Securities LLC, UniCredit CIB
|
| Coupon: | 0%
|
| Price: | 85.85% of reference amount
|
| Payment: | 81% of gross amount of cash distribution paid on underlying shares
|
| Minimum settlement price: | VWAP of Dec. 9 closing share price, in euros
|
| Maximum settlement price: | 15% premium
|
| Talk: | 15% to 17%
|
| Pricing date: | Dec. 8
|
| Settlement date: | Dec. 15
|
| Stock symbol: | Milan: UCG
|
| Stock price: | €2.56
|
| Market capitalization: | €15.58 billion
|
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