BOND COMPLEXITY : HIGH ISIN: XS2805328601
ROTHLF 7.019% 10Dec2034 Corp (GBP)
ROTHESAY LIFE PLC
Indicative Bid Price
105.312
Bid Yield to Maturity
6.186%
Bid Yield to Call
6.154%
Min. Investment (Nominal)
100000
Indicative Ask Price
106.040
Ask Yield to Maturity
6.077%
Ask Yield to Call
6.040%
Next Call Date
09 Jun 2034
Credit Rating (Bond)
BBB+
Investment Grade
Seniority
Subordinated
Investor Profile
 Stable Income Seeker
Chart
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Bond Information
Rothesay Life PLC operates as an insurance company. The Company offers solutions to pension schemes, finance, and other related insurance products. Rothesay Life serves customers in the United Kingdom.
Bond Issuer
Rothesay Life PLC
Guarantor
-
Announcement Date
02 Jun 2024
Issue Date
09 Jun 2024
Maturity Date / Next Call Date
09 Dec 2034 / 09 Jun 2034
Years to Maturity / Next Call
8.468 / 7.967
Issue/Reoffer Price
100.000
Issue/Reoffer Yield
7.019
Coupon Type
Fixed
Annual Coupon Rate (%)
7.019
Annual Coupon Frequency
Annually
Seniority
Subordinated
Exchange Listed
Others
Reference Rate
-
ISIN
XS2805328601
CUSIP
YX4981818
Bond Currency
GBP
Total Issue Size
GBP 500,000,000
Minimum Investment Quantity (Nominal)
GBP 100,000
Incremental Quantity (Nominal)
GBP 1,000
Bond Registration
Wholesale
Bond Type
Corporate
Bond Sector
Financials
Bond Sub Sector
Insurance
Issuer Credit Rating (S&P/ Fitch)
***/A
Bond Credit Rating (S&P/ Fitch)
***/BBB+
Shariah Compliant
No
W-8BEN Declaration needed
No
Bond Feature(s)
Unless the Issuer shall have given notice to redeem the Notes under Condition 6(d), 6(e), 6(f) or 6(i) i), and if “Issuer Call Option” is specified hereon, the Issuer may at its option, subject to the Solvency Condition and Conditions 6(b) and 6(j) and having given not less than 15 nor more than 30 days’ notice (or such other notice period as may be specified hereon) to the Trustee, the Issuing and Paying Agent, in the case of Registered Notes, the Registrar and, in accordance with Condition 16, the Noteholder s (which notice shall specify the date set for redemption and shall, subject as aforesaid, be irrevocable) redeem all or, if so specified hereon, some only of the Notes on any Optional Redemption Date specified hereon.

Optional Redemption Date(s): Any date from (and including) 10 June 2034 to (but excluding) the Maturity Date

Clean up redemption at the option of the Issuer

If Issuer Clean up Call is specified as being applicable hereon, and if at any time after the Issue Date 75 per cent. (or such other Clean up Call Threshold as may be specified in the relevant Pricing Supplement) or more of the aggregate principal amount of the Notes originally issued (and, for these purposes, any Further Notes will be deemed to have been originally issued) has been purchased by the Issuer or any of its Subsidiaries and cancelled, then the Issuer m ay, subject to the Solvency Condition and Conditions 6(b) and 6(j) and having given not less than 15 nor more than 30 days’ notice (or such other notice period as may be specified hereon) to the Trustee, the Issuing and Paying Agent, in the case of Registered Notes, the Registrar and, in accordance with Condition 16, the Noteholders (which notice shall specify the date set for redemption and shall, subject as aforesaid, be irrevocable), redeem in accordance with these Conditions all, but not some only, of the Notes at the Clean up Redemption Price (which, unless otherwise specified in the relevant Pricing Supplement, shall be their principal amount )), together with any Arrears of Interest and any other accrued and unpaid interest to (but excluding) the date of redemption.

Subject to the Solvency Condition and Conditions 6(b) and 6(j), upon expiry of such notice the Issuer shall redeem the Notes.
Tier 2

Redemption due to Capital Disqualification Event

If, prior to the giving of the notice referred to below in this Condition 6(e), a Capital Disqualification Event has occurred and is continuing or, as a result of any change to the Relevant Rules (or change to the interpretation of the Relevant Rules by any court or authority entitled to do so), a Capital Disqualification Event will occur within the forthcoming period of six months , then the Issuer may, subject to the Solvency Condition and Conditions 6(b) and 6(j) and having given not less than 15 nor more than 60 days’ notice (or such other notice period which may be specified hereon) to the Noteholders in accordance with Condition 16, the Trustee, and the Issuing and Paying Agent (which notice may be given at any time up to and including the anniversary o f the occurrence of such Capital Disqualification Event shall specify the date set for redemption and shall, subject as aforesaid, be irrevocable ), elect to redeem in accordance with these Conditions all (but not some only) of the Notes, at any time or, i f and for so long as the Note is a Floating Rate Note, on any Interest Payment Date, at their Special Redemption Price (which, unless otherwise specified hereon, shall be their principal amount) together with any accrued and unpaid interest to (but excludi ng) the date fixed for redemption in accordance with these Conditions and any Arrears of Interest.

Redemption for Rating Reasons

If “Ratings Methodology Call” is specified hereon and if, prior to the giving of the notice referred to below in this Condition 6(f), a Ratings Methodology Event has occurred or, as a result of any change in, or amendment or clarification to, or any change in the application or official interpretation of, any ratings methodology or other official publication, a Ratings Methodology Event will occur within a period of six months, then the Issuer may, subject to the Solvency Condition and Cond itions 6(b) and 6( j) and having given not less than 15 nor more than 60 days’ notice (or such other notice period which may be specified hereon) to the Noteholders in accordance with Condition 16, the Trustee and the Issuing and Paying Agent (which notice may be given at any time up to and including the first anniversary of the occurrence of such Ratings Methodology Event (or such other date as is specified and shall specify the date set for redemption and shall, subject as aforesaid, be irrevocable ), elect to redeem in accordance with these Conditions all (but not some only) of the Notes, at any time or, if and for so long as the Note is a Floating Rate Note, on any Interest Payment Date, at their Special Redemption Price (which, unless otherwise specified hereon, shall be their principal amount), together with any accrued and unpaid interest to (but excluding) the date fixe d for redemption in accordance with these Conditions and any Arrears of Interest.

Subject to Conditions 3(b), 6(b) and 6(j) j), upon the expiry of such notice the Issuer shall redeem the Notes.
Price History
(Daily prices for the last 3 months), if you wish to view more than 3 months price history you may export the file
DATE
BID PRICE
ASK PRICE
ASK YIELD (CALL)
ASK YIELD (MATURITY)
22 Jun 2026105.312106.0406.0406.077
21 Jun 2026104.980105.7056.0926.127
18 Jun 2026105.141105.8516.0706.105
17 Jun 2026105.473106.2066.0156.053
16 Jun 2026105.565106.3036.0016.039
15 Jun 2026105.194105.9276.0606.095
14 Jun 2026105.269106.0006.0486.085
11 Jun 2026104.674105.4096.1416.173
10 Jun 2026103.975104.7076.2526.278
09 Jun 2026104.261104.9846.2096.237
Total of 65 entries
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FSM Global strives to ensure the accuracy and relevance of the information provided here. If the information is not up-to-date or erroneous, we appreciate feedback to keep it accurate.
Credit Rating

There are no credit rating changes for this bond for the past 3 years.

Related Documents
pdfIcon
Offering Circular
£ 3,000,000,000 Euro Medium Term Note Programme. Information Memorandum dated 30 May 2024.
pdfIcon
Pricing Supplement
Issue of £500,000,000 7.019 per cent. Subordinated Tier 2 Notes due 2034. Pricing Supplement dated 6 June 2024.
Related Bonds
BOND NAME

ISSUER

MATURITY DATE / NEXT CALL DATE
ASK PRICE
ASK YTM / YTW
BOND CREDIT RATING (S&P/FITCH)
action
ROTHLF 7.000% Perpetual Corp (USD)

Rothesay Life PLC

 02 Jun 2035
(Next Call Date)		 99.727 7.039% p.a. ***/BBB
TRANSACT
ROTHLF 5.000% Perpetual Corp (GBP)

Rothesay Life PLC

 12 Oct 2031
(Next Call Date)		 90.984 6.911% p.a. ***/BBB
TRANSACT
ROTHLF 7.000% 11Sep2034 Corp (USD)

Rothesay Life PLC

 10 Jun 2029
(Next Call Date)		 104.638 5.286% p.a. ***/BBB+
TRANSACT
Total of 3 entries
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FSM's Fees
For more information, please refer to the Pricing Structure
For each Buy & Sell Order (Retail^, Wholesale, Bond Express)
Processing Fee
0.35% / Min. SGD 10*
Platform Fee
0.05% per quarter
Other Charges
Goods & Services Tax (GST)
9% (GST is applicable to Singaporean residents on FSM’s fee)
Order Processing Time
Buy Wholesale Bonds / SGS Bonds / Retail (All payment type)
Generally T+2 business days upon payment clearance
Sell Wholesale Bonds / SGS Bonds / Retail Bonds
Generally T+2 business days (Redemption proceeds will be credited on next day)
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Remark

  1. *Processing fee is subjected to a minimum of SGD 10 (or in its equivalent currency).
  2. ^ For the purchase of the Retail Bonds, FSM Global will be absorbing SGX related Charges, till further notice.
  3. T = Transaction Date
    The Order processing time refers to the order completion and reflected in your account.
    ^The Purchase date will be based on T date

Platform Charge
  1. For the purpose of benefiting from lower rates based on higher investment holding tiers, the effective platform fee rate is based on the total combined holdings of all FSM accounts under main account holder (including beneficiary accounts), while Stock / ETF / Cash Account holdings are excluded from the combined holdings amount.
  2. Platform fee is charged for funds / bonds investments (excluding CPF holdings). The fee is accrued daily, calculated based on the daily average market value of the total Assets Under Administration (AUA) and deducted on a quarterly basis.

Note
  1. All fees and commission quoted are exclusive of Goods and Services Tax (GST).
  2. Platform fee is charged for funds / bonds investments (excluding CPF holdings). The fee is accrued daily, calculated based on the daily average market value of the total Assets Under Administration (AUA) and deducted on a quarterly basis.

Potential Income Explained
EDIT
Est. Payable Amount
GBP 110,421.37
Years to Call
7 years 11+ months
Est. Total Income
GBP 59,661.50
Yield to Call
5.759%
Indicative Cash Flow
Nominal Value
GBP 100,000.00
  • 2034
    Jun
    Coupon
    GBP 3,509.50
    Early Redemption
    GBP 100,000.00
  • 2033
    Dec
    Coupon
    GBP 7,019.00
  • 2032
    Dec
    Coupon
    GBP 7,019.00
  • 2031
    Dec
    Coupon
    GBP 7,019.00
  • 2030
    Dec
    Coupon
    GBP 7,019.00
Disclaimer: Cash flow calculations are computed based on current coupon rate till next possible call or maturity date. Figures reflected are indicative and subjected to changes in case of any corporate actions.
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