Saxo Bank to call AT1 capital notes
Saxo Bank makes use of an option for early redemption of AT1 capital notes issued in November 2014.
Multi-asset trading and fintech expert Saxo Bank has earlier today issued a notice to investors regarding additional tier 1 (AT1) capital notes.
The notes were issued in November 2014. Back then, Saxo Bank announced that it has issued additional tier 1 capital under the CRD IV and CRR regulation. The issued amount was EUR 42.5 million (approx. DKK 317 million as per exchange rates of November 20, 2014).
In line with the terms and conditions of the Offering Memorandum dated November 24, 2014, Saxo Bank may redeem all of the outstanding notes before the final maturity date. The earliest optional redemption date is February 26, 2020.
Saxo Bank makes use of the option for early redemption. On February 26, 2020, investors are set to receive interest payment and repayment of the nominal holding. After these payments, investors will not receive any more payments related to the Notes.
Denmark’s Financial Supervisory Authority has approved the optional redemption.
