AGH 3.94 0.00 Vol 0 AGL 17 0.00 Vol 0 BAS 2.15 0.00 Vol 0 BFM 16.5 0.00 Vol 0 BG23B 98.0002 0.00 Vol 0 BPH 7 0.25 Vol 1000 DEVON 3.55 -0.70 Vol 1500 LOM 2.5 0.00 Vol 0 NTB 51.5 0.00 Vol 0 ONE 3 0.00 Vol 5000 POLAR 5 0.00 Vol 0 SOM 16 0.00 Vol 0 WHHL 4.06 0.00 Vol 0 WWW 21.5 0.00 Vol 0
Market Closed:
The Bank of N.T. Butterfield & Son Limited 65 Front Street, Hamilton HM12

http://www.butterfieldgroup.com
Listed Since: 2018/05/24
BSX Ticker: NTBBH2.BH
Currency: USD
Telephone: 441 295-1111
Fax: 441-295-1220
Email: info@butterfieldgroup.com

The Bank of N.T. Butterfield & Son Limited (the “Bank”) is offering $75,000,000 aggregate principal amount of 5.25% Fixed to Floating Rate Subordinated Notes due 2028 (the “Notes”). From and including May 24, 2018, to, but excluding June 1, 2023, we will pay interest on the Notes semi-annually in arrears on each June 1 and December 1 at a fixed annual interest rate equal to 5.25%. From and including June 1, 2023, to, but excluding the maturity date or earlier redemption date, the interest rate will reset quarterly to an annual interest rate equal to the three-month LIBOR plus a spread of 225.5 basis points, payable quarterly in arrears on each March 1, June 1, September 1 and December 1 of each year. The Notes will mature on June 1, 2028, if not previously redeemed.

 

The Notes will be unsecured subordinated obligations of the Issuer.  The Notes will rank junior in right of payment to the payment of the Issuer’s existing and future senior indebtedness, including its deposits, and they will be structurally subordinated to all of the Issuer’s subsidiaries’ existing and future indebtedness and other obligations.  The Notes will not be guaranteed by any of the Issuer’s subsidiaries. There is no sinking fund for the Notes. 

 

The BMA has provided confirmation that the Notes will be treated as Tier 2 capital for the full term of the Notes, based on the Notes having a stated maturity in excess of five years (along with subordination ranking and liquidation rights similar to those of the Bank’s previous subordinated debt issuances) and their issuance not being required in order for the Bank to meet its current minimum capital requirements.

DIRECTORY

LISTING SPONSOR

TRADING HOURS

08:30-09:00 Price Discovery
09:00-16:30 Continuous Trading

CONTACT DETAILS

TEL: +1 (441) 292 7212
FAX: +1 (441) 292 7619
Email: info@bsx.com

LOCATION

30 Victoria Street
3rd Floor
Hamilton, Bermuda

MAILING ADDRESS

P.O. Box HM 1369
Hamilton HMFX

Disclaimer

 

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