Notice of Pricing Results

RNS Number : 6899S

Silverstone Master Issuer PLC

07 November 2019

 

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION WHERE SUCH DISTRIBUTION IS UNLAWFUL

SILVERSTONE MASTER ISSUER PLC

(incorporated with limited liability in England and Wales under the Registration Number 06612744)

(the Issuer)

NOTICE

to the holders of its

£550,000,000 Series 2018-1 Class 2A Floating Rate Notes due 21 January 2070

(ISIN: Reg S Notes: XS1770381215 / Rule 144A Notes: XS1770381306)

(the Notes and holders thereof, the Noteholders)

Further to the Issuer's announcement earlier today, the Issuer hereby announces that, in connection with the Notes:

(a)        the Forward Start Adjustment (as calculated by the Solicitation Agent) is 0.3 basis points;

(b)        the LIBOR vs SONIA Interpolated Basis (as determined by the Solicitation Agent at the Pricing Time) is 15.2 basis points; and

(c)        the New Margin is 0.525 per cent. (being the sum of 0.37 per cent. plus the Forward Start Adjustment plus the LIBOR vs SONIA Interpolated Basis); and

(d)        the New Step-Up Margin is 0.895 per cent. (being the sum of 0.74 per cent. plus the Forward Start Adjustment plus the LIBOR vs SONIA Interpolated Basis).

For the avoidance of doubt, the change in the Rate of Interest on the Notes to SONIA plus the New Margin will be effective from and including the Interest Payment Date falling in January 2020 (with the first Interest Amount based on such Rate of Interest being paid on the Interest Payment Date falling in April 2020).

The Issuer will shortly arrange execution and delivery of the Amendment Documents, each of which will be made available on the website of the Issuer at http://www.nationwide.co.uk/about/investor-relations/introduction.

Capitalised terms used but not otherwise defined herein shall have the meanings ascribed to them in the Consent Solicitation Memorandum dated 16 October 2019 (the Consent Solicitation Memorandum).  Capitalised terms used but not otherwise defined herein or in the Consent Solicitation Memorandum shall have the meanings ascribed to them in the Note Trust Deed.

 

END

 

 

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