Slaughter and May, London and Hong Kong, advised Standard Chartered PLC on its issue of US$1.25 billion additional Tier 1 Securities

Slaughter and May, London and Hong Kong, advised Standard Chartered PLC on its issue of US$1.25 billion Fixed Rate Resetting Perpetual Subordinated Contingent Convertible Securities. The Securities are convertible into ordinary shares of Standard Chartered PLC if at any time Standard Chartered PLC determines that its Common Equity Tier 1 ratio, calculated on a consolidated and fully loaded basis, is less than 7.00 per cent. The Securities are listed on the Main Board of the Hong Kong Stock Exchange.

Standard Chartered Bank acted as structuring adviser and joint lead manager, BNP Paribas, BofA Securities, J.P. Morgan and UBS Investment Bank acted as joint lead managers and Bank of Communications, BMO Capital Markets, China Construction Bank (Asia), First Abu Dhabi Bank, Natixis, QNB Capital, Rand Merchant Bank, a division of FirstRand Bank Limited (London Branch), Santander, Scotiabank and The Bank of East Asia, Limited acted as co-managers.

Sullivan & Cromwell advised as to New York law.

Sullivan & Cromwell team: John O’Connor, Evan S. Simpson, Nitish Verma