Notice to holders of £250mn Fixed/Floating Rate Perpetual Non-Cumulative Capital Securities (ISIN: XS0368541032) (the "Capital Securities")
Capitalised terms used and not otherwise defined in this notice shall have the meanings set out in the prospectus relating to the Capital Securities and dated 6 June 2008 (the “Prospectus”).
Notice is hereby given to the holders of the Capital Securities of the Make Whole Redemption Price, following the publication by the Issuer on 8 November 2021 of a notice announcing that it has elected to redeem all of the outstanding Capital Securities on 4 January 2022 (the “Redemption Date”) and in accordance with Condition 8(b) in conjunction with Condition 8(e) of the Terms and Conditions of the Capital Securities.
All of the outstanding Capital Securities will be redeemed on the Redemption Date at the Make Whole Redemption Price, together with interest accrued to (but excluding) the Redemption Date.
In accordance with the Terms and Conditions of the Capital Securities, UBS AG London Branch in its capacity as Agent Bank has determined on the Reference Date, being the date of this notice, that the Make Whole Redemption Price in respect of each Capital Security is 170.7207%.
In accordance with Condition 8(g) of the Terms and Conditions of the Capital Securities, all Capital Securities redeemed will forthwith be cancelled.