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Old Mutual plc 8% Subordinated Notes 03/06/21 GBP100000

Sell:£112.95 Buy:£114.20 Change: £0.085 (0.08%) *
Market closed |  Prices as at close on 22 October 2018 | Switch to live prices |
Shareholder Meeting

Old Mutual plc 8% Subordinated Notes 03/06/21 GBP100000

Type:
Shareholder Meeting
Shareholder action required:
Yes
Status:
Update Pending
Details (last updated 12 Oct 2018)

What is happening?


Old Mutual plc is proposing to amend the terms of the above Notes to allow them to be redeemed early. As a holder of the Notes in your Account you are being given the opportunity to vote for the Early Redemption. If the Early Redemption is approved it will be mandatory for all Noteholders.

 

Noteholders who vote in favour of the early redemption will receive a Consent Fee. This payment will be for an amount of £30 for each £1000 in principal amount of the Notes voted in favour of the Early Redemption.

 

How will the Early Redemption price be calculated?

 

The Early Redemption Price will be the higher of:

 

a) £1,000 for each £1,000 in principal amount of the Notes (par value) or;


b) The sum of a purchase spread and the yield to maturity of a Benchmark Security Rate, being a specified Treasury Gilt less the Consent Fee (as outlined above). For this Note the Benchmark Security is the 1.5 per cent UK Treasury Gilt due 22 January 2021 and the purchase spread will be 50bps (0.50%).

 

Old Mutual plc has given a hypothetical Early Redemption Price of £1,137.32 for each £1,000 in principal amount of Notes tendered. Please note that this is for illustrative purposes only and should not be taken as a forecast of the price you would receive.

 

Noteholders will also receive a payment for any accrued interest. 

 

Do I need to take any action?

 

The proposal is subject to Noteholder approval. If you wish to register a vote you must do so before our noon Thursday 18 October 2018 deadline.

 

Please note that if you give an instruction to vote, your Notes will be temporarily removed from your account and blocked from trading until after the Meeting has concluded on 25 October 2018. You will not be able to trade your Notes until they are returned to us after the Meeting. N.B. We cannot guarantee that the Notes will be returned to us immediately after the Meeting has concluded and we are unable to provide an exact date as to when you will be able to trade your Notes after the Meeting has concluded. 

 

It is strongly advised that you read a copy of the Consent Solicitation Memorandum before giving an instruction. The Memorandum contains full details of the Offer including the risk factors involved.

 

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:£112.95
Buy:£114.20
Change: £0.085 (0.08%) *
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 22 October 2018 | Switch to live prices |
Shareholder Meeting

Old Mutual plc 8% Subordinated Notes 03/06/21 GBP100000

Type:
Shareholder Meeting
Shareholder action required:
Yes
Status:
Update Pending
Details (last updated 12 Oct 2018)

What is happening?


Old Mutual plc is proposing to amend the terms of the above Notes to allow them to be redeemed early. As a holder of the Notes in your Account you are being given the opportunity to vote for the Early Redemption. If the Early Redemption is approved it will be mandatory for all Noteholders.

 

Noteholders who vote in favour of the early redemption will receive a Consent Fee. This payment will be for an amount of £30 for each £1000 in principal amount of the Notes voted in favour of the Early Redemption.

 

How will the Early Redemption price be calculated?

 

The Early Redemption Price will be the higher of:

 

a) £1,000 for each £1,000 in principal amount of the Notes (par value) or;


b) The sum of a purchase spread and the yield to maturity of a Benchmark Security Rate, being a specified Treasury Gilt less the Consent Fee (as outlined above). For this Note the Benchmark Security is the 1.5 per cent UK Treasury Gilt due 22 January 2021 and the purchase spread will be 50bps (0.50%).

 

Old Mutual plc has given a hypothetical Early Redemption Price of £1,137.32 for each £1,000 in principal amount of Notes tendered. Please note that this is for illustrative purposes only and should not be taken as a forecast of the price you would receive.

 

Noteholders will also receive a payment for any accrued interest. 

 

Do I need to take any action?

 

The proposal is subject to Noteholder approval. If you wish to register a vote you must do so before our noon Thursday 18 October 2018 deadline.

 

Please note that if you give an instruction to vote, your Notes will be temporarily removed from your account and blocked from trading until after the Meeting has concluded on 25 October 2018. You will not be able to trade your Notes until they are returned to us after the Meeting. N.B. We cannot guarantee that the Notes will be returned to us immediately after the Meeting has concluded and we are unable to provide an exact date as to when you will be able to trade your Notes after the Meeting has concluded. 

 

It is strongly advised that you read a copy of the Consent Solicitation Memorandum before giving an instruction. The Memorandum contains full details of the Offer including the risk factors involved.

 

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:£112.95
Buy:£114.20
Change: £0.085 (0.08%) *
Market closed |  Prices as at close on 22 October 2018 | Switch to live prices |
Shareholder Meeting

Old Mutual plc 8% Subordinated Notes 03/06/21 GBP100000

Type:
Shareholder Meeting
Shareholder action required:
Yes
Status:
Update Pending
Details (last updated 12 Oct 2018)

What is happening?


Old Mutual plc is proposing to amend the terms of the above Notes to allow them to be redeemed early. As a holder of the Notes in your Account you are being given the opportunity to vote for the Early Redemption. If the Early Redemption is approved it will be mandatory for all Noteholders.

 

Noteholders who vote in favour of the early redemption will receive a Consent Fee. This payment will be for an amount of £30 for each £1000 in principal amount of the Notes voted in favour of the Early Redemption.

 

How will the Early Redemption price be calculated?

 

The Early Redemption Price will be the higher of:

 

a) £1,000 for each £1,000 in principal amount of the Notes (par value) or;


b) The sum of a purchase spread and the yield to maturity of a Benchmark Security Rate, being a specified Treasury Gilt less the Consent Fee (as outlined above). For this Note the Benchmark Security is the 1.5 per cent UK Treasury Gilt due 22 January 2021 and the purchase spread will be 50bps (0.50%).

 

Old Mutual plc has given a hypothetical Early Redemption Price of £1,137.32 for each £1,000 in principal amount of Notes tendered. Please note that this is for illustrative purposes only and should not be taken as a forecast of the price you would receive.

 

Noteholders will also receive a payment for any accrued interest. 

 

Do I need to take any action?

 

The proposal is subject to Noteholder approval. If you wish to register a vote you must do so before our noon Thursday 18 October 2018 deadline.

 

Please note that if you give an instruction to vote, your Notes will be temporarily removed from your account and blocked from trading until after the Meeting has concluded on 25 October 2018. You will not be able to trade your Notes until they are returned to us after the Meeting. N.B. We cannot guarantee that the Notes will be returned to us immediately after the Meeting has concluded and we are unable to provide an exact date as to when you will be able to trade your Notes after the Meeting has concluded. 

 

It is strongly advised that you read a copy of the Consent Solicitation Memorandum before giving an instruction. The Memorandum contains full details of the Offer including the risk factors involved.

 

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.

×
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:
£112.88
Trade high:
£112.96
Year high:
£117.42
Modified duration:
2.3290%
Previous close:
£112.87
Trade low:
£112.83
Year low:
£109.83
Gross redemption yield
GRY
:
3.8120%
Previous:
£0.12 (0.10%)
Previous:
£0.12
Volume:
n/a
Currency:
GBP
Running yield:
7.088%
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.

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Important Documents

There are no documents available for this stock.

Fundamental data

Issuer: OLD MUTUAL PUBLIC LIMITED COMPANY
Parent company: OLD MUTUAL LTD
Structure: Fixed Income/Fixed Rate Bond
Coupon (%): 8.0000%
Coupon type: Fixed Coupon
Coupon frequency: Bi-annually
Redemption date: 3 June 2021
Issue date: 3 June 2011
Issue price: 100.00p
Issue size: £72.1M
Online trading:  
Denomination size: £1000.00
Minimum initial investment: £100000.00
ISIN: XS0632932538

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.

* This quote is for 100 units.

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 Reuters. Charts provided Factset. 'Recent trades' provided by MoneyAM. Fundamental data provided by Thomson Reuters.

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'.