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Korea’s Woori Bank will early redeem $500 million 4˝% tier 1 notes
Lexington, Ky., Sept. 2 – Woori Bank has announced an optional early redemption of $500 million 4 ˝% tier 1 subordinated notes (ISINs: US98105FAE43, US98105HAE09) originally due in 2046, according to a company notice.
Sept. 27 is the first optional call date. The notes will be redeemed and canceled on that date.
The notes will be redeemed for $1,022.50 per note which includes $1,000 principle and $22.50 in accrued unpaid interest.
The bonds were originally due to mature Sept. 27, 2046.
The notes need to be surrendered to the paying agent, DB Services Americas, Inc.
The bank is based in Seoul, South Korea.
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