Obligation MetLife Global Capital I 1.625% ( XS2055110758 ) en GBP

MetLife Global Capital I

100 % ▲

Etas-Unis

XS2055110758 ( en GBP )

1.625% par an ( paiement annuel )

21/09/2029

Prospectus brochure de l'obligation MetLife Global Funding I XS2055110758 en GBP 1.625%, échéance 21/09/2029

100 000 GBP

500 000 000 GBP

21/03/2026 ( Dans 40 jours )

MetLife Global Funding I est un fonds d'investissement privé géré par MetLife Investment Management, concentré sur des investissements directs dans des entreprises de taille moyenne à grande, principalement aux États-Unis, à travers une variété de stratégies, y compris du capital-investissement, du crédit privé et des investissements infrastructure.

L'Obligation émise par MetLife Global Capital I ( Etas-Unis ) , en GBP, avec le code ISIN XS2055110758, paye un coupon de 1.625% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 21/09/2029

PRIIPs REGULATION/PROHIBITION OF SALES TO EEA RETAIL INVESTORS
The Notes (as defined below) 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, 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 the Directive 2003/71/EC (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 Notes or otherwise making them available to retail investors in the EEA has
been prepared and therefore offering or selling the Notes or otherwise making them available to any retail investor
in the EEA may be unlawful under the PRIIPs Regulation.
FINAL TERMS
Final Terms No. 2019-15 dated September 16, 2019
Metropolitan Life Global Funding I
Issue of £500,000,000 1.625% Fixed Rate Notes due 2029 (the "Notes")
secured by a Funding Agreement issued by
Metropolitan Life Insurance Company
under the $30,000,000,000 Global Note Issuance Program
These Final Terms should be read in conjunction with the accompanying Offering Circular dated December 10,
2018, as supplemented by the First Base Prospectus Supplement, dated March 21, 2019, the Second Base Prospectus
Supplement, dated May 13, 2019 and the Third Base Prospectus Supplement, dated August 12, 2019 (as so
supplemented, the "Offering Circular"), relating to the $30,000,000,000 Global Note Issuance Program of
Metropolitan Life Global Funding I (the "Issuer").
MiFID II product governance / Professional investors and ECPs only target market Solely for the purposes of
each manufacturer's product approval process, the target market assessment in respect of the Notes has led to the
conclusion that: (i) the target market for the Notes is eligible counterparties and professional clients only, each as
defined in MiFID II; and (ii) all channels for distribution of the Notes to eligible counterparties and professional
clients are appropriate. Any person subsequently offering, selling or recommending the Notes (a "distributor")
should take into consideration the manufacturers' target market assessment; however, a distributor subject to MiFID
II is responsible for undertaking its own target market assessment in respect of the Notes (by either adopting or
refining the manufacturers' target market assessment) and determining appropriate distribution channels.
PART A -- CONTRACTUAL TERMS
Terms used herein and not otherwise defined herein shall have the meanings ascribed in the Offering Circular,
which together with these Final Terms constitute a base prospectus for the purpose of the Prospectus Directive. This
document constitutes the Final Terms of the Notes described herein for the purposes of Article 5.4 of the Prospectus
Directive and must be read in conjunction with the Offering Circular. Full information regarding the Issuer and the
offer of the Notes is only available on the basis of the combination of these Final Terms and the Offering Circular.
The Offering Circular is available for viewing in physical format during normal business hours at the registered
office of the Issuer located at c/o U. S. Bank Trust National Association, 300 Delaware Avenue, 9th Floor,
Wilmington, Delaware 19801. In addition, copies of the Offering Circular and these Final Terms will be available
free of charge from the principal office of the Paying Agent with respect to Notes not listed on any securities
exchange. In addition, the Offering Circular is published on the website of the Central Bank of Ireland at
www.centralbank.ie.

1.
(i) Issuer:
Metropolitan Life Global Funding I

(ii) Issuer Legal Entity Identifier (LEI):
635400MMSOCXNNNZDZ82

(iii) Funding Agreement Provider:
Metropolitan Life Insurance Company
2. (i)
Series
Number:
2019-15
(ii)
Tranche
Number:
1
3.
Specified Currency or Currencies:
British Pound ("£")
4. Aggregate
Principal
Amount:
£500,000,000
5.
Issue Price:
99.706% of the Principal Amount of the Notes
6.
Specified Denominations:
£100,000 and integral multiples of £1,000 in excess thereof
7.
(i) Issue Date:
September 23, 2019

(ii) Interest Commencement Date:
Issue Date
8.
Maturity Date:
September 21, 2029
9.
Interest Basis:
1.625% Fixed Rate (further particulars specified below in
Item 14)
10.
Redemption/Payment Basis:
Subject to any purchase and cancellation or early
redemption, the Notes will be redeemed on the Maturity
Date at 100% of the Principal Amount.
11.
Change of Interest or

Redemption/Payment Basis:
Not Applicable
12.
Status of the Notes:
Secured Non-Recourse Notes
13.
Method of distribution:
Syndicated
Provisions Relating to Interest (If Any) Payable
14.
Fixed Rate Note Provisions:
Applicable

(i) Interest Rate:
1.625% per annum payable in arrears on each Interest Payment
Date

(ii) Interest Payment Date(s):
21st day of each September and March through and including
the Maturity Date, not adjusted, commencing on March 21,
2020

(iii) Fixed Coupon Amount(s):
£812.50 per £100,000 in Specified Denominations, payable on
each Interest Payment Date except for the Interest Payment
Date falling on March 21, 2020

(iv) Broken Amount(s):
£803.57 per £100,000 in Specified Denominations, payable on
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the first Interest Payment Date falling on March 21, 2020

(v) Business Day Convention:
Modified Following Business Day Convention, which means
that if any Interest Payment Date falls on a day that is not a
Business Day, the required payment will be postponed to the
first following day that is a Business Day unless that day falls
into the next calendar month, in which case the required
payment will be made on the first preceding day that is a
Business Day, and no interest will accrue or fail to accrue in
respect of such payment being made on the first following or
preceding day that is a Business Day

(vi) Day Count Convention:
Actual/Actual (ICMA), which means a fraction equal to
"number of days accrued/number of days in year", as such
terms are used in Rule 251 of the statutes, bylaws, rules and
recommendations of the International Capital Market
Association (the "ICMA Rule Book"), calculated in
accordance with Rule 251 of the ICMA Rule Book as applied
to non-U.S. dollar denominated straight and convertible bonds
issued after December 31, 1998, assuming calculation of
accrued interest for a coupon period equal to the Calculation
Period.

(vii) Interest Determination Dates:
Not Applicable
15.
Floating Rate Note Provisions:
Not Applicable
16.
Zero Coupon Note Provisions:
Not Applicable
Provisions Relating to Redemption
17. Maturity
Redemption
Amount:
Outstanding Principal Amount plus accrued and unpaid
interest
18. Early
Redemption
Amount:

Early Redemption Amount(s) of each

Note payable on redemption for taxation
reasons or on Event of Default:
Outstanding Principal Amount plus accrued and unpaid
interest to the date fixed for redemption in accordance with
Condition 8.02.
General Provisions Applicable to the Notes
19.
Form of Notes:
Registered Notes:
Regulation S Global Registered Notes
Notes sold outside of the United States in accordance with
Regulation S will initially be represented by one or more
Regulation S Temporary Global Registered Notes. Each
Regulation S Temporary Global Registered Note will be
exchangeable for a Regulation S Permanent Global
Registered Note beginning after the later of (i) the Exchange
Date (November 2, 2019) and (ii) the first date on which
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requisite certifications as to non-U.S. beneficial ownership
of the relevant Notes are provided to the relevant Paying
Agent.
The Regulation S Temporary Global Registered Notes and
the Regulation S Permanent Global Registered Notes will be
registered in the name of a nominee of a common
safekeeper for Euroclear and Clearstream, Luxembourg.
See "Description of the Notes -- Global Notes."

20.
Principal Financial Centre(s) or other

special provisions relating to Payment

Dates:
London and New York
21.
Definitive Notes at Request of Holder:
Not Applicable
22.
New Global Note/New Safekeeping
Structure: Yes--New
Safekeeping Structure applies
23.
Intended to be held in a manner which

would allow Eurosystem eligibility:
Yes. Note that the designation "yes" simply means that the
Notes are intended upon issue to be deposited with one of
Euroclear or Clearstream, Luxembourg as common
safekeeper, and registered in the name of a nominee of one
of Euroclear or Clearstream, Luxembourg acting as
common safekeeper, that is, held under the New
Safekeeping Structure, and does not necessarily mean that
the Notes will be recognized as eligible collateral for
Eurosystem monetary policy and intra day credit operations
by the Eurosystem either upon issue or at any or all times
during their life. Such recognition will depend upon the
European Central Bank being satisfied that Eurosystem
eligibility criteria have been met.
Distribution

24.
(i) If syndicated, names of Managers

and Relevant Dealer(s) / Lead Manager

(if any):
Credit Suisse Securities (Europe) Limited
Barclays Bank PLC
Deutsche Bank AG, London Branch
J.P. Morgan Securities plc

(ii) Stabilizing Agent(s) (if any):
Not Applicable
25.
If non-syndicated, name of Dealer:
Not Applicable
26.
Selling Restrictions:
The Selling Restrictions contained in "Subscription and
Sale" in the Offering Circular are applicable.
Information Relating to the Funding
Agreement

27.
Funding Agreement Number:
FA-037433S (the "Relevant Funding Agreement")
4

28.
Funding Agreement Maturity Date:
September 21, 2029
29.
Funding Agreement Deposit Amount:
£500,000,000
5

PART B -- OTHER INFORMATION
1. LISTING
(i) Listing:
Euronext Dublin
(ii) Admission to trading:
Application has been made to Euronext Dublin for the Notes
to be admitted to the Official List and trading on its regulated
market with effect from September 23, 2019
(iii) Estimate of total expenses related to admission

to trading:
1,000
2. RATINGS

Ratings of the Series:
The Notes to be issued are expected to be rated:
(i) Moody's:
Aa3
(ii) S&P:
AA-
(iii) Fitch:
AA-
3.
INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE/OFFER
Except as discussed in "Subscription and Sale" in the Offering Circular or immediately below, so far as the Issuer is
aware, no person involved in the offer of the Notes has an interest material to the issue and the offer of the Notes.
4.
USE OF PROCEEDS
The proceeds from the current sale of the Notes, net of certain expenses, underwriting discounts and commissions or
similar applicable compensation will be used by the Issuer to purchase the Relevant Funding Agreement from
Metropolitan Life Insurance Company.
5.
FIXED RATE NOTES ONLY - YIELD
Indication of yield:
1.657% (semi-annual). The yield is calculated at the Issue
Date on the basis of the Issue Price. It is not an indication of
future yield.
6. OPERATIONAL
INFORMATION
ISIN:
XS2055110758
Common
Code:
205511075
FISN:
METROPOLITAN
LI/1EMTN
20290921
CFI
Code:

DTFXFR

CUSIP Number:
Not Applicable

Relevant clearing systems:
Euroclear and Clearstream Luxembourg

Delivery:
Delivery against payment

Additional Paying Agent(s) if any:
None
7. BENCHMARKS
6

Details of benchmarks administrators and

registration under Benchmarks Regulation:
Not Applicable
8. AUTHORIZATION
The Issuer authorized the issuance and sale of the Notes on September 16, 2019.
LISTING AND ADMISSION TO TRADING APPLICATION
These Final Terms comprise the final terms required to list and have admitted to trading the issue of Notes described
herein on Euronext Dublin pursuant to the $30,000,000,000 Global Note Issuance Program of the Issuer.
7