| NOT FOR DISTRIBUTION IN THE UNITED STATES, THE UNITED KINGDOM, CANADA, AUSTRALIA OR JAPAN. |
INTESA SANPAOLO RAISES 2 BILLION DOLLARS ON THE U.S. MARKET WITH THE LAUNCH OF
A SUBORDINATED TIER 2 BENCHMARK BOND ISSUE
Turin - Milan, June 20th 2014 - Intesa Sanpaolo has launched a U.S.$2 billion subordinated “Tier 2” benchmark bond issue targeted exclusively at the U.S. and Canadian markets.
It is a 10-year, fixed-rate bond issue under the U.S.$ Medium Term Notes Programme of Intesa Sanpaolo.
The bond placed on the U.S. market is exempt from registration under Section 144A of the U.S. Securities Act. The part targeted at the Canadian market has been placed in the provinces of Ontario and Quebec on the basis of the exemptions applicable to initial placements reserved only for institutional investors (private placement).
The coupon, payable semi-annually in arrears on every 26 June and 26 December of each year from and including 26 December 2014 up to the maturity date, is equal to 5.017% per annum.
The re-offer price is 100%.
Considering the re-offer price, the yield to maturity is 5.017% per annum and the total spread for the investor is equal to the yield of 10-year U.S. Treasury Bill plus 240 basis points per annum.
Settlement is due on 26 June 2014.
The minimum denomination of the bond issue is U.S.$200,000 and U.S.$1,000 thereafter.
Banca IMI, Barclays Capital, Goldman Sachs, JP Morgan Securities, Morgan Stanley and Wells Fargo Securities are the joint lead managers of the bond offering.
The ratings assigned to Intesa Sanpaolo’s senior long-term debt are: Baa2 by Moody’s, BBB by Standard & Poor’s, BBB+ by Fitch and A (low) by DBRS.
The distribution of this press release, directly or indirectly, in or into the United States of America, Canada, Australia or Japan is prohibited. This press release (and the information contained herein) does not contain or constitute an offer of securities for sale, or solicitation of an offer to purchase securities, in the United States, Canada, Australia or Japan or any other jurisdiction where such an offer or solicitation would require the approval of local authorities or otherwise be unlawful (the "Other Countries"). The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or pursuant to the corresponding regulations in force in the Other Countries and may not be offered or sold in the United States or to U.S. persons unless the securities are registered under the Securities Act, or an exemption from the registration requirements of the Securities Act is available. Intesa Sanpaolo does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States.
This communication is being distributed only to and is directed only at (a) persons outside the United Kingdom, (b) persons who have professional experience in matters relating to investments, i.e., investment professionals within the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"), and (c) high net worth companies, unincorporated associations and other bodies to whom it may otherwise lawfully be communicated in accordance with Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). The securities are available only to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be available only to or will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this communication or any of its contents.
Investor Relations
+39.02.87943180
investor.relations@intesasanpaolo.com
Media Relations
+39.02.87963531
stampa@intesasanpaolo.com
Last updated 20 June 2014 at 09:24
