News Releases
Notice regarding Pricing of Non-Dilutive Non-Cumulative Perpetual Preferred Securities(1/1)
Sumitomo Mitsui Financial
Group, Inc.
Notice regarding Pricing of
Non-Dilutive Non-Cumulative Perpetual Preferred Securities
TOKYO,
January 31, 2008 --- Sumitomo Mitsui Financial Group, Inc. (SMFG, President:
Teisuke Kitayama) hereby announces that it has decided the following with
regard to the issuance of non-dilutive non-cumulative perpetual preferred
securities by its overseas special purpose subsidiary (the “Preferred
Securities”) announced in the “Notice regarding Establishment of Overseas
Special Purpose Subsidiary and Issuance of Non-Dilutive Non-Cumulative
Perpetual Preferred Securities” dated as of January 11, 2008.
PARTICULARS
|
Issuers |
SMFG Preferred Capital JPY 1 Limited |
|
The above issuer is an overseas
special purpose subsidiary established in the Cayman Islands, the voting
rights of which are wholly owned by SMFG |
|
|
Type
of Security |
Japanese yen denominated Non-Cumulative
Perpetual Preferred Securities |
|
The Preferred Securities are not
convertible or exchangeable into common stock of SMFG |
|
|
Total
Issue Amount |
JPY 135 billion |
|
Dividend
Rate |
3.52% per annum (Fixed rate until January
2018) Floating rate after January 2018 |
|
Issue
Price |
JPY 100 million per preferred
security |
|
Use
of Proceeds |
To be ultimately provided to Sumitomo
Mitsui Banking Corporation, a banking subsidiary of SMFG, as perpetual
subordinated loans |
|
Ranking |
The Preferred Securities rank, as to
liquidation preferences, effectively pari passu with preferred stock of SMFG |
|
Method
of Offering |
Private placement to qualified
institutional investors, etc. in Japan |
|
Listing |
Unlisted |
|
Scheduled
Issue Date |
February 7, 2008 |
Note: The
above description is prepared on the assumptions that SMFG performs necessary
filings and obtains the approval, required under the relevant laws.
Disclaimer:
This document is prepared for the purpose of public
disclosure about issuance of the Preferred Securities by SMFG and does not
constitute a solicitation of an offer for purchase of any securities in and
outside of Japan. This document is not an offer to sell or a solicitation of
any offer to buy the Preferred Securities in the United States. The Preferred
Securities set forth above have not been and will not be registered under the
United States Securities Act of 1933 (the “Act”) and may not be offered or sold
in the United States without registration or an applicable exemption from the
registration requirements under the Act.
