National Commercial Bank USD1.25bn 3.5% PNC6 AT1
Rating: A1/BBB+/A-
Amount: $1.25bn Reg S AT1
Maturity: Perpetual (PNC6)
Issue/reoffer price: 100.00
Coupon: 3.5%
Spread at reoffer: 288.900bp over US Treasuries
Launched: Wednesday, 20 January
Payment date:26 January
Joint books: Citi, Emirates NBD Capital, Goldman Sachs, JP Morgan, MUFG, NCB Capital, Standard Chartered
Bookrunners’ comment:
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