Skip to main content
  • Register
  • Help
  • Contact us
  • Log out of your HL account

Halifax (98IV) 9.375% 2021

Sell:£113.50 Buy:£117.00 Change: £0.13 (0.11%) *
Market closed |  Prices as at close on 17 May 2019 | Switch to live prices |
Tender Offer

Halifax 9.375% 2021

Type:
Tender Offer
Shareholder action required:
Yes
Status:
Update Pending
Details (last updated 1 Apr 2019)

Bank of Scotland plc has announced the details of a Tender Offer for its outstanding Halifax 9.375% Notes due 2021. Holders of these Notes may tender their holding for repurchase by Bank of Scotland plc at a price to be determined on completion of the Offer. You have a number of options to consider before our deadline of 9am on Tuesday 2 April 2019.

 

The Tender Offer is for all outstanding 9.375% Notes 2021. However there is no guarantee that any of the Notes will be repurchased under the Offer.

 

The Purchase Price will be based on a repurchase yield which will be the sum of a purchase spread and the yield to maturity of a Benchmark Security Rate, being a specified Treasury Gilt. For this Note the Benchmark Security is the 1.5% UK Government Gilt due 22 January 2021 and the purchase spread will be 1.05%. For illustrative purposes only had the calculation date been 28 March 2019 the Tender Price would have been calculated as approximately 115.9p.

 

Bank of Scotland plc will also pay an Accrued Interest Payment in respect of Notes accepted for purchase pursuant to the Tender Offer.

 

What are my options?


Option 1: Tender your holding - Noteholders may tender (i.e. elect to sell) some or all of their holding for cash. Elections must be made for a minimum of 10,000 Notes and in multiples of 10,000 Notes thereafter only. Before making a tender election holders should read the Tender Offer Memorandum.

 

Option 2: Take no Action - If you do not wish to participate in this Tender Offer you need take no action and you will retain your holding of Notes. Please note that dependent on the number of Notes repurchased in the Offer, there can be no guarantee as to the liquidity of the market for the remaining Notes following completion of the Offer.

 

Cash resulting from successful tenders is expected to be credited from 10 April 2019.

 

Full details of this event will be sent to Qualifying Hargreaves Lansdown clients by either post or secure message. Please note that any instruction you give must be based on the full details provided in the letter and not on the summary information outlined above.

×
Sell:£113.50
Buy:£117.00
Change: £0.13 (0.11%) *
Deal now Deal for just £11.95 per trade in a ISA, Lifetime ISA, SIPP or Fund & Share Account
Market closed |  Prices as at close on 17 May 2019 | Switch to live prices |
Tender Offer

Halifax 9.375% 2021

Type:
Tender Offer
Shareholder action required:
Yes
Status:
Update Pending
Details (last updated 1 Apr 2019)

Bank of Scotland plc has announced the details of a Tender Offer for its outstanding Halifax 9.375% Notes due 2021. Holders of these Notes may tender their holding for repurchase by Bank of Scotland plc at a price to be determined on completion of the Offer. You have a number of options to consider before our deadline of 9am on Tuesday 2 April 2019.

 

The Tender Offer is for all outstanding 9.375% Notes 2021. However there is no guarantee that any of the Notes will be repurchased under the Offer.

 

The Purchase Price will be based on a repurchase yield which will be the sum of a purchase spread and the yield to maturity of a Benchmark Security Rate, being a specified Treasury Gilt. For this Note the Benchmark Security is the 1.5% UK Government Gilt due 22 January 2021 and the purchase spread will be 1.05%. For illustrative purposes only had the calculation date been 28 March 2019 the Tender Price would have been calculated as approximately 115.9p.

 

Bank of Scotland plc will also pay an Accrued Interest Payment in respect of Notes accepted for purchase pursuant to the Tender Offer.

 

What are my options?


Option 1: Tender your holding - Noteholders may tender (i.e. elect to sell) some or all of their holding for cash. Elections must be made for a minimum of 10,000 Notes and in multiples of 10,000 Notes thereafter only. Before making a tender election holders should read the Tender Offer Memorandum.

 

Option 2: Take no Action - If you do not wish to participate in this Tender Offer you need take no action and you will retain your holding of Notes. Please note that dependent on the number of Notes repurchased in the Offer, there can be no guarantee as to the liquidity of the market for the remaining Notes following completion of the Offer.

 

Cash resulting from successful tenders is expected to be credited from 10 April 2019.

 

Full details of this event will be sent to Qualifying Hargreaves Lansdown clients by either post or secure message. Please note that any instruction you give must be based on the full details provided in the letter and not on the summary information outlined above.

×
Sell:£113.50
Buy:£117.00
Change: £0.13 (0.11%) *
Market closed |  Prices as at close on 17 May 2019 | Switch to live prices |
Tender Offer

Halifax 9.375% 2021

Type:
Tender Offer
Shareholder action required:
Yes
Status:
Update Pending
Details (last updated 1 Apr 2019)

Bank of Scotland plc has announced the details of a Tender Offer for its outstanding Halifax 9.375% Notes due 2021. Holders of these Notes may tender their holding for repurchase by Bank of Scotland plc at a price to be determined on completion of the Offer. You have a number of options to consider before our deadline of 9am on Tuesday 2 April 2019.

 

The Tender Offer is for all outstanding 9.375% Notes 2021. However there is no guarantee that any of the Notes will be repurchased under the Offer.

 

The Purchase Price will be based on a repurchase yield which will be the sum of a purchase spread and the yield to maturity of a Benchmark Security Rate, being a specified Treasury Gilt. For this Note the Benchmark Security is the 1.5% UK Government Gilt due 22 January 2021 and the purchase spread will be 1.05%. For illustrative purposes only had the calculation date been 28 March 2019 the Tender Price would have been calculated as approximately 115.9p.

 

Bank of Scotland plc will also pay an Accrued Interest Payment in respect of Notes accepted for purchase pursuant to the Tender Offer.

 

What are my options?


Option 1: Tender your holding - Noteholders may tender (i.e. elect to sell) some or all of their holding for cash. Elections must be made for a minimum of 10,000 Notes and in multiples of 10,000 Notes thereafter only. Before making a tender election holders should read the Tender Offer Memorandum.

 

Option 2: Take no Action - If you do not wish to participate in this Tender Offer you need take no action and you will retain your holding of Notes. Please note that dependent on the number of Notes repurchased in the Offer, there can be no guarantee as to the liquidity of the market for the remaining Notes following completion of the Offer.

 

Cash resulting from successful tenders is expected to be credited from 10 April 2019.

 

Full details of this event will be sent to Qualifying Hargreaves Lansdown clients by either post or secure message. Please note that any instruction you give must be based on the full details provided in the letter and not on the summary information outlined above.

×
Deal now Deal for just £11.95 per trade in a ISA, Lifetime ISA, SIPP or Fund & Share Account
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.
Open:
£115.38
Trade high:
n/a
Year high:
£120.88
Modified duration:
1.8870%
Previous close:
£115.38
Trade low:
n/a
Year low:
£112.25
Gross redemption yield
GRY
:
2.1400%
Previous:
£0.00 (0.00%)
Previous:
£0.00
Volume:
n/a
Currency:
GBP
Running yield:
8.126%
Data delayed by at least 15 minutes.

Performance

Not available for this stock.

Dividend information for this stock is not available.

Dividend information for this stock is not available.

Open an easy to manage, low cost dealing account in less than 5 minutes

Deal shares from just £11.95 per trade online, and as low as £5.95 per trade for active traders.

More about the Fund and Share Account

Important Documents

There are no documents available for this stock.

Fundamental data

Issuer: BANK OF SCOTLAND PLC
Parent company: LLOYDS BANKING GROUP PLC
Structure: Fixed Income/Fixed Rate Bond
Coupon (%): 9.3750%
Coupon type: Fixed Coupon
Coupon frequency: Annually
Redemption date: 15 May 2021
Issue date: 15 May 1996
Issue price: 107.44p
Issue size: £183.3M
Online trading:  
Denomination size: £10000.00
Minimum initial investment: £10000.00
ISIN: XS0066120915

Values are quoted in the stock's local currency.

Time / date Time Buy / sell Type Volume Price Value
×

The London Stock Exchange does not disclose whether a trade is a buy or a sell so this data is estimated based on the trade price received and the LSE-quoted mid-price at the point the trade is placed. It should only be considered an indication and not a recommendation.

Trades priced above the mid-price at the time the trade is placed are labelled as a buy; those priced below the mid-price are sells; and those priced close to the mid-price or declared late are labelled ‘N/A’.

Annual & interim reports

Annual & interim reports are not available for this stock.

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Prices provided by NBTrader. Charts provided Factset. 'Recent trades' provided by MoneyAM. Fundamental data provided by Thomson Reuters.
Deal now Deal for just £11.95 per trade in a ISA, Lifetime ISA, SIPP or Fund & Share Account

Share

The London Stock Exchange does not disclose whether a trade is a buy or a sell so this data is estimated based on the trade price received and the LSE-quoted mid-price at the point the trade is placed. It should only be considered an indication and not a recommendation.

Trades priced above the mid-price at the time the trade is placed are labelled as a buy; those priced below the mid-price are sells; and those priced close to the mid-price or declared late are labelled 'N/A'.