Obligation United Global Bank Ltd 3.58% ( SGXF48097749 ) en SGD

United Global Bank Ltd

100 % ▼

Singapour

SGXF48097749 ( en SGD )

3.58% par an ( paiement semestriel )

Perpétuelle

Prospectus brochure de l'obligation United Overseas Bank Ltd SGXF48097749 en SGD 3.58%, échéance Perpétuelle

250 000 SGD

750 000 000 SGD

17/07/2026 ( Dans 104 jours )

United Overseas Bank Ltd (UOB) est une banque multinationale basée à Singapour, offrant une large gamme de services bancaires aux particuliers, entreprises et institutions dans l'Asie-Pacifique, ainsi qu'à l'échelle mondiale.

L'Obligation émise par United Global Bank Ltd ( Singapour ) , en SGD, avec le code ISIN SGXF48097749, paye un coupon de 3.58% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le Perpétuelle

PROHIBITION OF SALES TO EEA RETAIL INVESTORS - The Perpetual Capital Securities are not
intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise
made available to any retail investor in the European Economic Area ("EEA"). For these purposes, a
retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article
4(1) of Directive 2014/65/EU (as amended, "MiFID II"); (ii) a customer within the meaning of Directive
2002/92/EC (as amended or superseded, "IMD"), where that customer would not qualify as a
professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii) not a qualified investor as
defined in Directive 2003/71/EC (as amended or superseded, the "Prospectus Directive").
Consequently no key information document required by Regulation (EU) No 1286/2014 (as amended,
the "PRIIPs Regulation") for offering or selling the Perpetual Capital Securities or otherwise making
them available to retail investors in the EEA has been prepared and therefore offering or selling the
Perpetual Capital Securities or otherwise making them available to any retail investor in the EEA may
be unlawful under the PRIIPs Regulation.
Notification under Section 309B(1)(c) of the Securities and Futures Act (Chapter 289 of
Singapore): The Perpetual Capital Securities are prescribed capital markets products (as defined in the
Securities and Futures (Capital Markets Products) Regulations 2018) and Excluded Investment
Products (as defined in the Monetary Authority of Singapore ("MAS") Notice SFA 04-N12: Notice on the
Sale of Investment Products and MAS Notice FAA-N16: Notice on Recommendations on Investment
Products).
Pricing Supplement dated 10 July 2019
UNITED OVERSEAS BANK LIMITED
(incorporated with limited liability in the Republic of Singapore)
(Company Registration Number 193500026Z)
Legal Entity Identifier: IO66REGK3RCBAMA8HR66
acting through its registered office in Singapore
Issue of S$750,000,000 3.58 per cent. Perpetual Capital Securities First Callable 2026
under the U.S.$15,000,000,000 Global Medium Term Note Programme
This document constitutes the Pricing Supplement relating to the issue of Perpetual Capital
Securities described herein.
Terms used herein shall be deemed to be defined as such for the purposes of the Perpetual
Capital Securities Conditions set forth in the Offering Circular dated 5 April 2019 (the "Perpetual
Capital Securities Conditions"). This Pricing Supplement contains the final terms of the Perpetual
Capital Securities and must be read in conjunction with such Offering Circular.
On the basis that the Perpetual Capital Securities are deemed to be an "AT1 Instrument" as
defined in Section 10O of the Income Tax Act, Chapter 134 of Singapore (the "ITA"), where interest,
discount income (not including discount income arising from secondary trading), prepayment fee,
redemption premium or break cost is derived from any Perpetual Capital Securities by any person
who is not resident in Singapore and who carries on any operations in Singapore through a
permanent establishment in Singapore, the tax exemption available (subject to certain conditions)
under the ITA, shall not apply if such person acquires such Perpetual Capital Securities using the
funds and profits of such person's operations through a permanent establishment in Singapore.
Any person whose interest, discount income (not including discount income arising from secondary
trading), prepayment fees, redemption premium or break cost derived from the Perpetual Capital
Securities is not exempt from tax (including for the reasons described above) shall include such
income in a return of income made under the ITA.

1
(i)
Issuer:
United Overseas Bank Limited, acting through its
registered office in Singapore
2
(i)
Series Number:
40
(ii)
Tranche Number:
1
3
Specified Currency or Currencies:
Singapore dollars ("S$")
4
Aggregate Nominal Amount:
(i)
Series:
S$750,000,000
(ii)
Tranche:
S$750,000,000
5
(i)
Issue Price:
100 per cent. of the Aggregate Nominal Amount
(ii)
Net Proceeds:
Approximately S$748,523,400 (inclusive of any
applicable Singapore goods and services tax)
6
(i)
Specified Denominations:
S$250,000
(ii)
Calculation Amount
S$250,000
7
(i)
Issue Date:
17 July 2019
(ii)
Distribution Commencement
Issue Date
Date
8
Distribution
Distribution Basis:
From (and including):
·
The Distribution Commencement Date to (but
excluding) the First Reset Date (as defined
below), at the Initial Distribution Rate;
·
The First Reset Date and each Reset Date
falling thereafter to (but excluding) the
immediately following Reset Date, the Reset
Distribution Rate.
(further particulars specified below)
Distribution Stopper (Perpetual
Applicable
Capital Securities Condition 5(f)):
9
Redemption/Payment Basis:
Redemption at par
10
Change of Distribution or
See paragraph 8 above
Redemption/Payment Basis
11
Call Options:
Issuer Call
(further particulars specified below)
12
Listing:
SGX-ST
13
Method of distribution:
Syndicated
PROVISIONS RELATING TO DISTRIBUTION (IF ANY) PAYABLE
14
Fixed Rate Perpetual Capital Security
Applicable
Provisions:
2

(i)
Rate(s) of Distribution:
(a) Initial Distribution Rate:
3.58 per cent. per annum payable semi-annually
in arrear
(b) Reset
Applicable
(A) First Reset Date:
17 July 2026
(B) Reset Date(s):
The First Reset Date and each date falling every
seven years after the First Reset Date, not
adjusted for Business Days
(C) Relevant Rate:
7-year SGD Swap Offer Rate, where:
"7-year SGD Swap Offer Rate" means the rate
per annum (expressed as a percentage)
determined and notified by the Calculation Agent
to the Issuer equal to the rate appearing under the
column headed "Ask" for a maturity of seven
years which appears on the Bloomberg Screen
TPIS Page under the caption "Tullett Prebon
Rates Interest Rate Swaps Asia Pac SGD"
(or such other substitute page thereof upon
notification to and subsequent instruction from the
Issuer, or if there is no substitute page, the screen
page which is the generally accepted page used
by market participants at that time) published at
the close of business on the second Business Day
preceding the relevant Reset Distribution Date.
(D) Initial Spread:
1.795%
(ii)
Distribution Period:
Each period from and including the Distribution
Payment Date to (but excluding) the subsequent
Distribution Payment Date, except that the first
Distribution Period will commence on (and
include) the Issue Date
(iii) Distribution Payment Date(s):
17 January and 17 July in each year commencing
on the Distribution Payment Date falling on 17
January 2020
(iv) Fixed Distribution Amount:
Not Applicable
(v) Broken Amount(s):
Not Applicable
(vi) Day Count Fraction:
Actual/365 (fixed)
(vii) Determination Dates:
The determination of the Reset Distribution Rate
shall be calculated on the second Business Day
prior to such Reset Date in accordance with
Condition 4(f)
(viii) Other terms relating to the
Not Applicable
method of calculating Distribution
for Fixed Rate Perpetual Capital
Securities:
3

15
Floating Rate Perpetual Capital
Not Applicable
Securities Provisions:
PROVISIONS RELATING TO REDEMPTION
16
Call Option:
Applicable
(i)
Optional Redemption Date(s):
The First Reset Date and each Distribution
Payment Date thereafter
(ii)
Optional Redemption Amount(s)
S$250,000 per Calculation Amount
of each Perpetual Capital
Security and method, if any, of
calculation of such amount(s):
(iii) If redeemable in part:
·
Minimum Redemption
Not Applicable
Amount:
·
Maximum Redemption
Not Applicable
Amount:
(iv) Notice period:
In accordance with Condition 6(d), not less than
15 days' irrevocable notice to Securityholders and
the Trustee
17
Variation instead of Redemption
Applicable
(Perpetual Capital Securities
Condition 6(f)):
18
Final Redemption Amount of each
S$250,000 per Calculation Amount
Perpetual Capital Security:
19
Early Redemption Amount
Early Redemption Amount(s) per
S$250,000 per Calculation Amount
Calculation Amount payable on
redemption for taxation reasons due
to a Tax Law change/Change of
Qualification Event and/or the method
of calculating the same (if required or
if different from that set out in the
Perpetual Capital Securities
Conditions):
PROVISIONS RELATING TO LOSS ABSORPTION
20
Loss Absorption Measure: Write
Applicable
Down on a Loss Absorption Event
(Perpetual Capital Securities
Condition 7(a))
GENERAL PROVISIONS APPLICABLE TO THE PERPETUAL CAPITAL SECURITIES
21
Form of Perpetual Capital Securities:
Registered
4

22
Financial Centre(s) or other special
Singapore
provisions relating to Payment Dates:
23
Other terms or special conditions:
Not Applicable
DISTRIBUTION
24
(i)
If syndicated, names of
Australia and New Zealand Banking Group
Managers:
Limited
Standard Chartered Bank (Singapore) Limited
The Hongkong and Shanghai Banking
Corporation Limited, Singapore Branch
UBS AG Singapore Branch
United Overseas Bank Limited
(ii)
Stabilising Manager (if any):
The Hongkong and Shanghai Banking
Corporation Limited, Singapore Branch
25
If non-syndicated, name of Dealer:
Not Applicable
26
U.S. Selling Restrictions:
Reg. S Compliance Category 2; TEFRA not
applicable
27
Additional selling restrictions:
Singapore:
The Perpetual Capital Securities shall not be
offered or sold, or be made the subject of an
invitation for subscription or purchase, to the
Issuer or any of its banking group entities or
associates (each as defined in MAS Notice 637),
unless with the prior approval of MAS.
OPERATIONAL INFORMATION
28
ISIN Code:
SGXF48097749
29
Common Code:
203075766
30
CUSIP:
Not Applicable
31
CINS:
Not Applicable
32
CMU Instrument Number:
Not Applicable
33
Any clearing system(s) other than The
Not Applicable
Central Depository (Pte) Limited, The
Central Moneymarkets Unit Service,
Euroclear Bank SA/NV and
Clearstream Banking S.A., DTC and
the relevant identification number(s):
34
Delivery:
Delivery against payment
35
Additional Paying Agent(s) (if any):
Not Applicable
GENERAL
5

36
Prohibition of Sales to EEA Retail
Applicable
Investors:
37
Governing Law:
Singapore Law
38
Applicable governing document:
Singapore Supplemental Trust Deed dated 5 April
2019
PURPOSE OF PRICING SUPPLEMENT
This Pricing Supplement comprises the final terms required for issue and admission to trading on the
Singapore Exchange Securities Trading Limited of the Perpetual Capital Securities described herein
pursuant to the U.S.$15,000,000,000 Global Medium Term Note Programme of United Overseas Bank
Limited.
INVESTMENT CONSIDERATIONS
There are significant risks associated with the Perpetual Capital Securities. Prospective investors should
have regard to the factors described under the section headed "Investment Considerations" in the
Offering Circular before purchasing any Perpetual Capital Securities. Before entering into any
transaction, prospective investors should ensure that they fully understand the potential risks and
rewards of that transaction and independently determine that the transaction is appropriate given their
objectives, experience, financial and operational resources and other relevant circumstances.
Prospective investors should consider consulting with such advisers as they deem necessary to assist
them in making these determinations.
RESPONSIBILITY
The Issuer accepts responsibility for the information contained in this Pricing Supplement.
6