OneSavings Bank plc announces results of its Tender Offer for its £60,000,000 Fixed Rate Resetting Perpetual Subordinated Contingent Convertible Securities

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES OF AMERICA OR THE DISTRICT OF COLUMBIA OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED) OR IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT

5 October 2021. OneSavings Bank plc (the Offeror) announces today the results of its invitation to holders of its £60,000,000 Fixed Rate Resetting Perpetual Subordinated Contingent Convertible Securities (ISIN: XS1617418501) (the Securities) to tender their Securities for purchase by the Offeror for cash (the Offer).

The Offer was announced on 27 September 2021 and was made on the terms and subject to the conditions contained in the tender offer memorandum dated 27 September 2021 (the Tender Offer Memorandum). Capitalised terms used in this announcement but not defined have the meanings given to them in the Tender Offer Memorandum.

The Expiration Deadline for the Offer was 4.00 p.m. (London time) on 4 October 2021. As at the Expiration Deadline, £60,000,000 in aggregate nominal amount of the Securities were validly tendered for purchase pursuant to the Offer.

The Offeror announces that it has decided to accept for purchase all Securities validly tendered pursuant to the Offer, at a cash purchase price equal to 105.750 per cent. of the nominal amount of the relevant Securities, together with an Accrued Interest Payment.

Following the Settlement Date it is expected that 100 per cent. of the Securities will be cancelled and therefore none of the Securities will remain outstanding.

NatWest Markets Plc (Attention: Liability Management; Telephone: +44 20 7678 5222; Email: [email protected]) is acting as the Sole Dealer Manager and Lucid Issuer Services Limited (Attention: Harry Ringrose; Telephone: +44 20 7704 0880; Email: [email protected]) is acting as Tender Agent.

1. Offeror LEI: 213800WTQKOQI8ELD692
   
   

DISCLAIMER This announcement must be read in conjunction with the Tender Offer Memorandum. No offer or invitation to acquire any securities is being made pursuant to this announcement. The distribution of this announcement and the Tender Offer Memorandum in certain jurisdictions may be restricted by law. Persons into whose possession this announcement and/or the Tender Offer Memorandum comes are required by each of the Offeror, the Dealer Managers and the Tender Agent to inform themselves about, and to observe, any such restrictions.