NEW ISSUE ANNOUNCEDBOND COMPLEXITY : HIGH
CINDBK Perpetual Corp (USD)
China CITIC Bank International Ltd
Price Guidance
5.450% area
Tenure
Perpetual
Min. Investment (Nominal)
USD 250,000
Credit Rating (Bond)
N.R
No Rating
Capital Structure
Additional Tier 1
Investor Profile
High Yield Seeker
Bond Information
Bond Issuer
China CITIC Bank International Ltd
Guarantor
-
Annual Coupon Frequency
Semi Annually
Issue Date
21 Jul 2026
Maturity Date
21 Jul 2165
Years To Maturity
139.110
Coupon Type
Variable
Issue Size
USD Benchmark
Seniority
Junior Subordinated
Exchange Listed
HKEX
Reference Rate
Reset Date: 22 July 2031 and every 5 years thereafter
Reset Rate: Prevailing 5-year UST Rate + Initial spread [TBD]
Bond Currency
USD
Minimum Investment Quantity (Nominal)
USD 250,000
Incremental Quantity (Nominal)
USD 1,000
Bond Registration
Wholesale
Bond Type
High Yield Corporate
Bond Sector
Financials
Bond Sub Sector
Banks
Issuer Credit Rating (S&P/ Fitch)
*** / A-
Bond Credit Rating (S&P/ Fitch)
*** / N.R
Shariah Compliant
No
W-8BEN Declaration needed 
No
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Note

For Institutional investor (as defined in Section 4A of the Securities and Futures Act 2001 of Singapore (the “SFA”)) pursuant to Section 274 of the SFA or an accredited investor (as defined in Section 4A of the SFA) pursuant to and in accordance with the conditions specified in Section 275 of the SFA and (where applicable) Regulation 3 of the Securities and Futures (Classes of Investors) Regulations 2018.

Bond Feature(s)
Additional Tier 1

Bail-in

The terms of the Capital Securities contain non-viability loss absorption and bail-in provisions.

Under the Terms and Conditions of the Capital Securities, a Non-Viability Event occurs when the Monetary Authority notifies the Issuer in writing that the Monetary Authority is of the opinion that a Write-off or conversion is necessary, without which the Issuer would become non-viable; or that a decision has been made by the government body, a government officer or other relevant regulatory body with the authority to make such a decision, that a public sector injection of capital or equivalent support is necessary, without which the Issuer would become non-viable.

The Terms and Conditions of the Capital Securities also provide that each Securityholder and the Trustee shall be subject, and deemed to agree that the relevant Hong Kong Resolution Authority (as defined in the Terms and Conditions of the Capital Securities) can exercise the Hong Kong Resolution Authority Power (as defined in the Terms and Conditions of the Capital Securities) in relation to the Capital Securities. The Hong Kong Resolution Authority Power allows the relevant Hong Kong Resolution Authority to among other things, take the following actions in relation to the Capital Securities (commonly known as "bail-in"):

(a) cancel all or a part of the outstanding principal amount of, or Distributions on, the Capital Securities;

(b) modify or change the form of the Capital Securities;

(c) suspend the operation of the Terms and Conditions of the Capital Securities or deem payments of principal or Distributions to have been made in relation to the Capital Securities when no payments of principal or Distributions have been made; and

(d) order anything else the relevant Hong Kong Resolution Authority considers appropriate in consequence of exercising the Hong Kong Resolution Authority Power.

Non-Viability Loss Absorption

If a Non-Viability Event occurs and is continuing, the Issuer shall, upon or prior to the provision by the Issuer of a Non-Viability Event Notice, irrevocably (without the need for the consent of the Securityholders of the Capital Securities) reduce the then outstanding principal amount of, and cancel any accrued but unpaid Distribution in respect of, each Capital Security (in each case in whole or in part) by an amount equal to the Non-Viability Event Write-off Amount per Capital Security (such reduction and cancellation, and the reduction and cancellation of any other Subordinated Capital Securities so reduced and cancelled upon the occurrence of a Non-Viability Event, where applicable, being referred to herein as the "Write-off", and "Written-off" shall be construed accordingly).

"Non-Viability Event" means the earlier of:

(a) the Monetary Authority notifying the Issuer in writing that the Monetary Authority is of the opinion that a Write-off or conversion is necessary, without which the Issuer would become non-viable; or

(b) the Monetary Authority notifying the Issuer in writing that a decision has been made by the government body, a government officer or other relevant regulatory body with the authority to make such a decision, that a public sector injection of capital or equivalent support is necessary, without which the Issuer would become non-viable.
Mandatory Distribution Cancellation Event

Notwithstanding that a Distribution Cancellation Notice has not been given, the Issuer will not be obliged to pay, and will not pay, any Distribution on the applicable Distribution Payment Date, in whole or in part, as applicable, if and to the extent that:

(i) the Distribution scheduled to be paid together with any dividends, distributions or other payments scheduled to be paid or made during the Issuer's then current fiscal year on any Parity Obligations or any instruments which effectively rank pari passu with any Parity Obligations shall exceed the Distributable Reserves as at such Distribution Determination Date; or

(ii) the Monetary Authority so directs the Issuer to cancel such Distribution (in whole or in part) or applicable Hong Kong banking regulations or other requirements of the Monetary Authority prevent the payment in full of dividends or other distributions when due on Parity Obligations, (each a "Mandatory Distribution Cancellation Event").

The Issuer shall have no obligation to pay a Distribution on any Distribution Payment Date if such non-payment is in accordance with this Condition 6B(b) and any failure to pay such Distribution shall not constitute an Event of Default under Condition 11.2A. Distributions are non-cumulative and any Distribution which is cancelled shall therefore not be payable at any time thereafter whether in a Winding-Up or otherwise.

Dividend Stopper

If, on any Distribution Payment Date, payment of Distribution scheduled to be paid is not made in full by reason of this Condition 6B, the Issuer shall not:

(i) declare or pay in cash any distribution or dividend or make any other payment in cash on, and will procure that no distribution or dividend in cash or other payment in cash is made on, any Shares; or

(ii) purchase, cancel or otherwise acquire any Shares or permit any of its Subsidiaries to do so, in each case, unless or until the earlier of: (A) the Distribution scheduled to be paid on any subsequent Distribution Payment Date (which shall exclude any Distribution that has been cancelled in accordance with these Conditions prior to such subsequent Distribution Payment Date) has been paid in full (I) to the Securityholders or (II) irrevocably to a designated third party trust account for the benefit of the Securityholders pending payment by the trustee thereof to the Securityholders on such subsequent Distribution Payment Date, or (B) the redemption or purchase and cancellation of the Capital Securities in full, or the reduction of the principal amount of the Capital Securities to zero, or (C) the Issuer is permitted to do so by an Extraordinary Resolution.
If Issuer Call is specified as being applicable in the applicable Pricing Supplement, the Issuer may, having given:

(a) not less than 15 nor more than 30 days’ notice to the Noteholders in accordance with Condition 15; and

(b) not less than 15 days before the giving of the notice referred to in (a) above, notice to the Trustee and the Principal Paying Agent and, in the case of a redemption of Registered Notes, the Registrar;

(which notices shall be irrevocable and shall specify the date fixed for redemption), redeem all or some only of the Notes then outstanding on any Optional Redemption Date and at the Optional Redemption Amount(s) specified in, or determined in the manner specified in, the applicable Pricing Supplement together, if appropriate, with interest accrued to (but excluding) the relevant Optional Redemption Date and, in the case of Undated Subordinated Notes, all Arrears of Interest (if any) as provided in Condition 6.6.

First Call Date: 22 July 2031
Redemption of the Capital Securities for Regulatory Reasons

Subject to Condition 8.12A, the Capital Securities may be redeemed at the option of the Issuer in whole, but not in part, at any time on giving not less than 30 nor more than 60 days' notice to the Trustee and the Principal Paying Agent and, in accordance with Condition 15, the Securityholders (which notice shall be irrevocable) following the occurrence of a Capital Event.

For the purposes of this Condition 8.3A, a "Capital Event" occurs if the Issuer satisfies the Trustee immediately before the giving of the notice of redemption referred in this Condition 8.3A that the Capital Securities, after having qualified as such, will no longer qualify (in whole or in part) as Additional Tier 1 capital (or equivalent) of the Issuer as a result of amendments to the relevant provisions of the Banking Ordinance (Cap. 155) of Hong Kong, the Capital Regulations, or any successor legislation, or any statutory guidelines issued by the Monetary Authority in relation thereto and such change or amendment was not foreseeable at the time of the issuance of the Capital Securities, after the Issue Date (excluding for the avoidance of doubt, non-qualification solely by virtue of the Issuer already having on issue securities with an aggregate principal amount up to or in excess of the limit of Additional Tier 1 capital (or equivalent) as permitted from time to time by the Monetary Authority) provided, however, that no such notice of redemption shall be given earlier than 90 days prior to the earliest date on which it is determined that a Capital Event has occurred.
Related Documents
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Offering Circular
U.S.$3,000,000,000 Medium Term Note Programme. Offering Circular dated 10 July 2026.
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Preliminary Pricing Supplement
Issue of U.S.$[•] [•] per cent. Undated Non-Cumulative Subordinated Additional Tier 1 Capital Securities. Preliminary Pricing Supplement dated 15 July 2026.
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.
  3. All orders submitted will be an indication of interest (IOI).

Closing Date: 15 Jul 2026 7:30:00 AM
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