The subordinated bond has a scheduled maturity in July 2047 and carries ordinary call rights as of July 2027. The coupon is fixed at 3.099% percent per annum until July 2027. Thereafter, bondholders will receive a floating rate coupon. Coupon payments and redemption are subject to certain conditions and may be deferred.
The bond will be listed on the Luxembourg Stock Exchange. Settlement is expected to occur on January 13, 2017.