Nationwide PIBS 5/12/2021 call
Posted: July 8th, 2021, 1:26 am
by 2boi
I have some of these. I am sure they will be called 5/12/21 but has anyone had an update? Prospectus is here
https://www.nationwide.co.uk/-/media/MainSite/documents/about/investor-relations/pibs/60m725pibs.pdf
Re: Nationwide PIBS 5/12/2021 call
Posted: July 8th, 2021, 10:48 am
by Gan020
It's too early for an update. Expect one about 6-8 weeks before the call date.
I am 99.9% sure they will be called as PIBS don't count as regulatory capital shortly.
Re: Nationwide PIBS 5/12/2021 call
Posted: October 3rd, 2021, 1:26 pm
by 2boi
Also sure they will be called. However if not they will contractually pay the 5 year gilt GRY plus 3.884% (so about 4.3%) until the next call date in December 2026. Which would be nice.
Re: Nationwide PIBS 5/12/2021 call
Posted: October 19th, 2021, 5:02 pm
by 2boi
10 hours ago:
"NOTICE IS HEREBY GIVEN by the Society to the holders of the PIBS that, having obtained Relevant Supervisory Consent from the Prudential Regulation Authority in accordance with Condition 4(2) (Repayment) of the PIBS, the Society will repay the PIBS in full on 6 December 2021 (the first business day following the 5 December 2021 Reset Date) pursuant to Condition 4(2) (Repayment) of the PIBS."
https://uk.advfn.com/stock-market/london/nationwide-building-soci-NBS/share-news/Nationwide-Building-Society-Permanent-Interest-Bea/86312960 and
https://www.investegate.co.uk/article.aspx?id=202110190700044423P