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National Westminster Bank calls undated subordinated notes issued in 1992
Chicago, Dec. 12 – National Westminster Bank plc will be redeeming all £30,952,000 remaining 11.5% undated subordinated notes that were convertible into 200 million 8.392% non-cumulative preference shares of £1 each (ISINs: XS0041078535, GB0006210255), according to a notice.
The redemption will take place on Jan. 19. The notes will be redeemed at the option amount, together with unpaid interest to the redemption date.
The option amount will be determined on Jan. 12. Based on indicative prices for the benchmark Gilt on Dec. 12, the option amount would have been 244.6, but the actual option amount will be determined on Jan. 12.
The notes were issued on Dec. 17, 1992.
Based in London, NatWest is a retail and commercial bank.
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