Amount: $1.75bn of low trigger additional tier one capital
Maturity: perpetual non-call
Call option: December 18, 2023
Launched: Wednesday December 11
Payment date: December 18
Joint books: Société Générale, JP Morgan, Morgan Stanley
Bookrunners’ comment:The outstanding $1.25bn perp non-call five was trading at around 7.1%. Some people’s instinctive reaction to that was ...