Standard Chartered completes redemption of $1 billion CoCo securities

By William Gullotti

Buffalo, N.Y., April 3 – Standard Chartered plc has completed the full optional redemption of its $1 billion fixed-rate resetting perpetual subordinated contingent convertible securities (ISINs: US853254BH21, USG84228CX43) on April 2, according to a notice on Monday.

The securities were originally issued Jan. 18, 2017.

As of April 3, there are no outstanding securities.

The company has applied to the Stock Exchange of Hong Kong Ltd. for delisting of the securities, which is expected to be effective at the close of business on April 14.

The banking and financial services company is based in London.

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