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Palladium Sec 1 S.A. (IRSH)

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Thursday 11 October, 2018

Palladium Sec 1 S.A.

Condition 7.9

RNS Number : 7732D
Palladium Securities 1 S.A.
11 October 2018
 

THIS NOTICE IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION

Palladium Securities 1 S.A. (the "Issuer")

 

Series 129 EUR 30,000,000 Fixed to Floating Rate Instruments due 2020 (the "Instruments")

 

Palladium Marktzins-Anleihe (WKN A1VEWV)


ISIN Code: XS1038295934

 

NOTICE OF EARLY TERMINATION AMOUNT

Reference is made to the terms and conditions of the Instruments set out in the Series Instrument constituting the Instruments dated 19 March 2014, as the same may have been amended from time to time (the "Conditions").  Capitalised terms used herein and not specifically defined will bear the same meanings as in the Conditions.

Further to the Notice of Mandatory Cancellation dated 28 September 2018 (the "Mandatory Cancellation Notice") and pursuant to Condition 7.9 of the Instruments, as the Calculation Agent in respect of the Instruments, we hereby notify you that that the Early Termination Amount of each Instrument is EUR 1,031.52, calculated in accordance with Condition 7.2 of the Instruments as follows:

(a)        EUR 34,293,765.06 (being the proceeds of redemption of the Collateral of CHF 39,134,330 converted into euros as at 10 October 2018); minus

(b)        EUR 3,334,056 (being the amount payable to the Hedging Counterparty in respect of the early termination of the Hedging Agreement on 10 October 2018); minus

(c)        EUR 14,000 (being the legal and other ancillary costs incurred by the Issuer, the Trustee, the Custodian or the Hedging Counterparty as a result of the Instruments becoming subject to mandatory cancellation); divided by

(d)        30,000 (being the number of Instruments in issue).

As set out in the Mandatory Cancellation Notice, each Instrument will be redeemed in whole on 17 October 2018 at its Early Termination Amount.

This notice of the Early Termination Amount in respect of the Instruments is delivered in accordance with Condition 7.9 of the Instruments.

11 October 2018

 

DEUTSCHE BANK AG, LONDON BRANCH

in its capacity as Calculation Agent

 

 

This announcement has been issued through the Companies Announcement Service of Euronext Dublin.

 

 

 

 

 

 

                                                                                                      


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