United Overseas Bank calls all $650 million 3 7/8% perpetuals

By Mary-Katherine Stinson

Lexington, Ky., Sept. 21 – United Overseas Bank gave notice that it will redeem all $650 million 3 7/8% perpetual capital securities first callable in 2023 (ISIN: XS1699845068) on the first call date of Oct. 19, according to a notice.

The notes will be redeemed at par plus accrued distributions, if any, to but excluding the redemption date.

Following redemption, the notes will be canceled and delisted from the Singapore Exchange.

Bank of New York Mellon is the notes’ trustee.

The notes were originally issued on Oct. 19, 2017 under the bank’s $30 billion global medium-term note program.

The retail bank is based in Singapore.

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