Nationwide Building Society priced a £600.0 million Additional Tier 1 bond.
The company said Sept. 20 that the perpetual contingent convertible notes carry an annual interest rate of 5.875% until June 20, 2025. the first reset date.
The bond will convert into equity if the company's common equity Tier 1 ratio falls below 7%.
BofA Merrill Lynch, J.P. Morgan and UBS Investment Bank served as book runners on the offering.
