Standard

Chartered
March
To,
T h e General Manager,
Department of Corporate Services,
B o m b a y Stock Exchange Ltd.,
P. J . T o w e r s , Dalai Street,
- 400 001.

SUB:
STANDARD
ANNOUNCEMENT

CHARTERED PLC (THE "COMPANY")

STOCK EXCHANGE

Dear Sir,
In r e f e r e n c e t o t h e p r o c e d u r e s that h a v e b e e n a g r e e d o n t h e release o f stock e x c h a n g e
a n n o u n c e m e n t s i n t h e U K , please find attached a copy o f t h e a n n o u n c e m e n t which h a s
been submitted to the London Stock Exchange for uploading o n to your website.

Lee Davis
Authorised Signatory

Standard Chartered PLC

1 Basinghall Avenue
London EC2V 5DD
www.sc.com
Registered Office at 1 Basinghall Avenue London EC2V 5DD
Registered England 966425

Tel +44 (0)20 7885 8888

Here for good

Standard
Chartered
NOT F O R DISTRIBUTION IN OR INTO OR TO ANY P E R S O N L O C A T E D OR R E S I D E N T IN
THE

UNITED STATES, ITS T E R R I T O R I E S AND P O S S E S S I O N S , ANY STATE O F T H E

UNITED STATES OR T H E DISTRICT O F COLUMBIA (INCLUDING P U E R T O RICO, T H E US

VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND T H E NORTHERN
MARIANA ISLANDS). NOT FOR R E L E A S E , PUBLICATION OR DISTRIBUTION IN OR INTO,
OR

T O ANY P E R S O N R E S I D E N T AND/OR L O C A T E D IN, ANY JURISDICTION W H E R E

S U C H R E L E A S E , PUBLICATION OR DISTRIBUTION
DISTRIBUTION RESTRICTIONS"

UNLAWFUL ( S E E " O F F E R AND

THE TENDER OFFER

MEMORANDUM).

Standard Chartered P L C
Standard Chartered Bank
11 March 2016
STANDARD C H A R T E R E D P L C AND STANDARD C H A R T E R E D BANK ANNOUNCE
T E N D E R O F F E R S TO R E P U R C H A S E CERTAIN OUTSTANDING N O T E S L I S T E D HEREIN
Invitation to Tender for Repurchase for C a s h up to the Maximum Consideration Amount

b y STANDARD C H A R T E R E D P L C
(a public limited company incorporated

in England and Wales)

t o t h e h o l d e r s o f its
Undated Primary Capital Floating Rate Notes
1,000,000,000 Floating Rate Notes

GB0008389008)

2017 (ISIN:

1.750% Notes due

( I S I N : X S 0 8 4 9 6 7 7 3 4 8 ) ( t h e "2017 Notes")

Notes due

( I S I N : X S 0 7 3 2 5 2 2 9 6 5 ) ( t h e "2019 Notes")

1,000,000,000

( t h e " S C P L C Notes", t h e h o l d e r s o f w h i c h b e i n g t h e " S C P L C Noteholders")

and

b y STANDARD C H A R T E R E D BANK
(incorporated

in England with limited liability by Royal

Charter)

t o t h e h o l d e r s o f its
2 00,000,000
6 75,000,000

Undated Subordinated Step-Up Notes (ISIN:

Fixed/Floating Rate Step up Undated Subordinated Notes (ISIN: XS0222434200)

( t h e "SCB Notes", t h e h o l d e r s o f w h i c h b e i n g t h e "SCB

Noteholders",

t h e S C P L C N o t e s a n d t h e S C B N o t e s t o g e t h e r b e i n g t h e "Notes",
and the S C P L C Noteholders and the S C B Noteholders together being the
in e a c h c a s e in t h e o r d e r o f priority listed b e l o w a n d o n t h e t e r m s a n d subject to t h e
s e t o u t i n full in t h e T e n d e r O f f e r M e m o r a n d u m d a t e d

March

(the

RED

Memorandum")

PLC

Standard Chartered PLC

1
Avenue
London EC2V 5DD
www.sc.com
Registered Office
1 Basinghall Avenue London EC2V
Registered England

LONDON

5DD

Tel +44 (0)20 7 8 8 5 8 8 8 8

Here for g o o d

S t a n d a r d C h a r t e r e d P L C ("SCPLC" o r t h e "Company" i n r e s p e c t o f t h e S C P L C N o t e s )

has

today invited holders o f the S C P L C N o t e s t o tender the S C P L C Notes for repurchase b y the
C o m p a n y f o r c a s h ( e a c h s u c h i n v i t a t i o n a n " S C P L C Offer" a n d t o g e t h e r , t h e " S C P L C Offers")
subject

t o certain

Restrictions"

offer

restrictions

a s contained

in t h e section

"Offer

and

Distribution

o f the Tender Offer M e m o r a n d u m . T h e S C P L C Offers are m a d e o nthe terms of,

and subject to the conditions contained inthe Tender Offer M e m o r a n d u m , copies ofwhich m a y
b e o b t a i n e d free o f c h a r g e b yeligible holders f r o m t h e Information a n d T e n d e r A g e n t , D.F. King
Ltd. Capitalised terms used b u tnot defined herein have the meanings given t o t h e m in the
Tender Offer M e m o r a n d u m .
S t a n d a r d C h a r t e r e d B a n k ("SCB" o r t h e "Company" i n r e s p e c t o f t h e S C B N o t e s ) h a s t o d a y
invited holders o f the S C B Notes t o tender the S C B Notes for repurchase b ythe C o m p a n y for
c a s h ( e a c h s u c h i n v i t a t i o n a n " S C B Offer" a n d t o g e t h e r , t h e " S C B Offers" a n d , t o g e t h e r w i t h
t h e S C P L C O f f e r s , t h e "Offers") s u b j e c t t o c e r t a i n o f f e r r e s t r i c t i o n s a s c o n t a i n e d i n t h e s e c t i o n
"Offer and Distribution
made

o n t h e terms

Memorandum.

Restrictions"

o f the Tender Offer M e m o r a n d u m . T h e S C B Offers

of, a n d subject

t o t h e conditions

contained

in, t h e Tender

are
Offer

All d o c u m e n t a t i o n relating t o t h e O f f e r s a n d a n y u p d a t e s will b e available t o

eligible N o t e h o l d e r s via t h e offer website:

http://sites.dfkingltd.com/scb.

Rationale for the Offers: T h e C o m p a n i e s h a v e launched, c o n t e m p o r a n e o u s l y with the launch of

t h e O f f e r s , o f f e r s t o p u r c h a s e f o r c a s h ( t h e "US Tender Offers") a n y a n d a l l o f s i x s e r i e s o f U S
dollar

denominated

notes

issued

by t h eCompanies

with a n aggregate

nominal

amount

o u t s t a n d i n g o f U S $ 1 , 7 4 4 , 7 0 0 , 0 0 0 ( t h e "US Notes"). T h e O f f e r s a n d t h e U S T e n d e r O f f e r s a r e
being u n d e r t a k e n t o p r o v i d e liquidity to relevant n o t e h o l d e r s a n d to further o p t i m i s e t h e G r o u p ' s
capital structure.

T h e G r o u p ' s s t r o n g l i q u i d i t y p o s i t i o n e n a b l e s it t o r e p u r c h a s e t h e n o t e s

subject t o the Offers and the U S T e n d e r Offers without a n y corresponding c h a n g e t o its

funding plan.
In this a n n o u n c e m e n t ,

r e f e r e n c e s t o t h e "relevant Company" a n d a "relevant Offer" a r e ,

respectively, references t o S C P L C and a n S C P L C Offer i n respect of a series o f the S C P L C

N o t e s o n l y a n d to S C B a n d a n S C B Offer in respect o f a series o ft h e S C B N o t e s only.
Holders o f the relevant N o t e s should consult the T e n d e r Offer M e m o r a n d u m for m o r e details of
t h e O f f e r s . T h e f o l l o w i n g is a brief s u m m a r y of certain t e r m s o ft h e O f f e r s only:

Expiration Deadline: 4.00 p.m. (London time) o n

March 2016, unless extended o r

earlier terminated.
Tender Offer Consideration: Dependent

o n t h erelevant series of Notes (see

table

b e l o w ) . I n respect o f t h e 2 0 1 7 N o t e s , t h e R e p u r c h a s e Price will b e d e t e r m i n e d b y

reference t o a Fixed Spread of 2 0 bps over

2 0 1 7 Notes Interpolated

Rate, a sset out inthe Tender Offer M e m o r a n d u m .

In respect o f the

Mid-Swap
Notes, the

R e p u r c h a s e P r i c e will b e d e t e r m i n e d b y r e f e r e n c e to a F i x e d S p r e a d o f 7 8 bps o v e r the

Notes Interpolated M i d - S w a p Rate, a sset out inthe Tender Offer M e m o r a n d u m .
T h e C o m p a n i e s will a n n o u n c e a tor a r o u n d

a.m. (London time) on 21 March

w h e t h e r t h e y i n t e n d t o a c c e p t v a l i d t e n d e r s o f N o t e s p u r s u a n t t o t h e O f f e r s a n d if s o
a c c e p t e d ( 1 ) n o n - b i n d i n g i n d i c a t i o n s o f t h e ( i ) M a x i m u m C o n s i d e r a t i o n A m o u n t , (ii) t h e
M a x i m u m S e c o n d P r i o r i t y C o n s i d e r a t i o n A m o u n t , (iii) t h e l e v e l s a t w h i c h t h e C o m p a n i e s

expect t o set the aggregate

nominal a m o u n t o f each series o f Notes accepted f o r

r e p u r c h a s e , a n d (iv) details o f a n y s c a l i n g o f O f f e r s o f N o t e s t e n d e r e d f o r r e p u r c h a s e ,
a n d (2) the Sterling F X R a t e and the E u r o F X Rate. T h e R e p u r c h a s e Price for the
Notes and the

N o t e s will b e a n n o u n c e d a s s o o n a s r e a s o n a b l y practicable after

the Price Determination T i m e , which is expected t o b e2.00 p.m. (London time) o n 2 1

March

unless extended or earlier terminated.

Accrued Interest: Noteholders w h o validly tender their Notes and w h o s e Notes a r e

a c c e p t e d for p u r c h a s e i n t h e O f f e r s will b e paid a c a s h a m o u n t i n p o u n d s sterling (for
N o t e s d e n o m i n a t e d i np o u n d s sterling) or in e u r o (for N o t e s d e n o m i n a t e d in euro) e q u a l
to t h e interest accrued a n d unpaid o n t h e relevant N o t e s f r o m (and including) t h e
i m m e d i a t e l y preceding interest p a y m e n t d a t e for t h e relevant series o f N o t e s t o (but
excluding) the Settlement Date.

Withdrawal

Rights:

Tender

Instructions

a r e irrevocable

except

i n t h e limited

c i r c u m s t a n c e s d e s c r i b e d in t h e T e n d e r O f f e r M e m o r a n d u m .

A n n o u n c e m e n t of final acceptance, results a n d scaling: A s s o o n a s reasonably

practicable after the Price Determination Date.

Settlement Date for the Offers: Will occur promptly after the Expiration Date. A s s u m i n g
t h a t t h e r e l e v a n t O f f e r i s n o t e x t e n d e d o r e a r l i e r t e r m i n a t e d , it i s e x p e c t e d t h a t t h e
S e t t l e m e n t D a t e will b e 2 3 M a r c h

Conditions t othe Offers: C o n s u m m a t i o n o f each relevant Offer is conditioned upon the

s a t i s f a c t i o n or, w h e r e a p p l i c a b l e , w a i v e r o f t h e c o n d i t i o n s d e s c r i b e d i n t h e T e n d e r O f f e r
Memorandum.

T h e relevant C o m p a n y will pay the following for e a c h Integral Multiple in n o m i n a l a m o u n t of the

N o t e s a c c e p t e d b y it f o r r e p u r c h a s e p u r s u a n t t o t h e O f f e r s , a s w e l l a s a c c r u e d i n t e r e s t o n s u c h
Notes.

Invitation by S C P L C and S C B
Priority
Acceptanc
e Level

Description of
the Notes

(as applicable):
Outstanding
nominal
amount

Repurchas
e Price (for
each
Integral
Multiple in
nominal
amount) /
Fixed
Spread
over
Benchmark
Rate (for
Notes
and 2019
Notes)

Maximum
Consideration
Amount (for
Priority
Acceptance
Level 1)/
Maximum
Second Priority
Consideration
Amount (for
Priority
Acceptance
Level 2)

SCPLC

1
Undated
Primary Capital
Floating Rate
Notes

GB000838900
8

SCB

3
0,515,000

3,000 p e r
5,000

200,000,000

1
0,675 p e r

393,742,000

9
50 p e r
1
,000

1,000,000,00
0

1,002 per
1,000

US$2,000,000,00
0 less t h e
consideration
payable in respect
of t h e U S
Repurchased
Notes (excluding
in r e s p e c t o f a n y
accrued interest
thereon)

Undated
Subordinated
Step-Up Notes

6
75,000,000
Fixed/Floating
Rate Step up
Undated
Subordinated
Notes

SCB

XS0222434200

SCPLC
0 Floating Rate
Notes due
2017

SCPLC

XS0849677348

0 1.750%
Notes due
2017

SCPLC

XS0732522965

0 4.125%
Notes due
2019

The Maximum
Consideration
A m o u n t less the
U S D Equivalent
aggregate
Purchase
Consideration
payable in respect
of t h e First Priority
N o t e s validly
tendered and
accepted for
purchase

20 bps over
the 2 0 1 7
Notes
Interpolated
Mid-Swap
Rate

78 bps over
the 2 0 1 9
Notes
Interpolated
Mid-Swap
Rate

The Maximum Consideration Amount and the Maximum S e c o n d Priority Consideration

Amount

The

M a x i m u m Consideration A m o u n t is t h e U S DEquivalent o f t h e P u r c h a s e

payable b y t h e Companies

in aggregate

Consideration

p u r s u a n t t o t h e Offers w h i c h shall n o te x c e e d a n

a m o u n t equal t o (a) U S $ 2 , 0 0 0 , 0 0 0 , 0 0 0 less (b) t h econsideration payable in respect o fthe U S

R e p u r c h a s e d N o t e s (excluding, f o rthe avoidance of doubt, consideration payable i n respect of

interest accrued a n d unpaid o n the relevant U S N o t e s f r o m (and including) t h e immediately

preceding

interest

payment

date

f o r t h e relevant

series t o ( b u t excluding)

t h e relevant

settlement date o f the U S T e n d e r Offers) (subject t ot h e rights o f the C o m p a n i e s t o increase t h e

M a x i m u m Consideration A m o u n t in their absolute discretion).
In respect

of all Second

Priority N o t e s validly tendered

a n d accepted for purchase, t h e

M a x i m u m S e c o n d P r i o r i t y C o n s i d e r a t i o n A m o u n t i s (i) t h e M a x i m u m C o n s i d e r a t i o n A m o u n t l e s s
(ii) t h e U S D E q u i v a l e n t o f t h e P u r c h a s e C o n s i d e r a t i o n p a y a b l e b y t h e C o m p a n i e s i n a g g r e g a t e
in r e s p e c t o f t h e F i r s t P r i o r i t y N o t e s v a l i d l y t e n d e r e d a n d a c c e p t e d for p u r c h a s e i n t h e r e l e v a n t
Offers.
Priority Acceptance Levels and Scaling
T h e aggregate

amount of each series of Notes that t h e Companies

intend t o accept f o r

p u r c h a s e i n t h e r e l e v a n t Offers will b e b a s e d o n t h e applicable Priority A c c e p t a n c e L e v e l f o r

such series of Notes and o n a m a x i m u m U S D Equivalent Purchase Consideration payable b y
the Companies

in aggregate

pursuant t o t h e Offers equal t o t h e M a x i m u m

Consideration

A m o u n t . R e p u r c h a s e s o f Notes m a y b epro-rated. S e e the table a b o v e for details of the Priority

A c c e p t a n c e L e v e l s . T h e First Priority N o t e s , w h i c h a r e w i t h i n t h e first Priority A c c e p t a n c e
will b e a c c e p t e d (subject t o t h e M a x i m u m C o n s i d e r a t i o n A m o u n t ) f o r p u r c h a s e

Level,

before t h e

S e c o n d Priority Notes, which are within the second Priority Acceptance Level.
If t h e U S D E q u i v a l e n t P u r c h a s e C o n s i d e r a t i o n p a y a b l e i n r e s p e c t o f t h e F i r s t P r i o r i t y N o t e s
validly tendered

( a n dn o t validly withdrawn)

in t h e relevant Offers equals

the Maximum

C o n s i d e r a t i o n A m o u n t , t h e n n o n e o ft h e S e c o n d Priority N o t e s will b e a c c e p t e d for r e p u r c h a s e .

If t h e U S D E q u i v a l e n t P u r c h a s e C o n s i d e r a t i o n p a y a b l e i n r e s p e c t o f t h e F i r s t P r i o r i t y N o t e s
validly tendered (and not validly withdrawn) a n d accepted for purchase i n the relevant Offers is
less t h a n t h e M a x i m u m C o n s i d e r a t i o n A m o u n t , t h e n t h e C o m p a n i e s will a c c e p t S e c o n d Priority
N o t e s validly tendered (and n o tvalidly withdrawn) f o r aggregate

U S D Equivalent

Purchase

Consideration i n respect of s u c h S e c o n d Priority N o t e s of u p t o the M a x i m u m S e c o n d Priority

Consideration Amount.
If t h e a g g r e g a t e U S D E q u i v a l e n t P u r c h a s e C o n s i d e r a t i o n t h a t w o u l d b e r e q u i r e d t o r e p u r c h a s e
t h e a g g r e g a t e principal a m o u n t o f all t h e First Priority N o t e s validly t e n d e r e d (and not validly
withdrawn) inthe relevant Offers is greater than the M a x i m u m Consideration Amount, then the
C o m p a n i e s intend t o accept s u c h validly tendered First Priority N o t e s o na pro rata basis such
that the aggregate U S D Equivalent P u r c h a s e Consideration payable i n respect of s u c h First
Priority Notes accepted for purchase is n ogreater than the M a x i m u m Consideration A m o u n t . In
s u c h c i r c u m s t a n c e s , e a c h s u c h t e n d e r o f F i r s t P r i o r i t y N o t e s w i l l b e s c a l e d b y a f a c t o r e q u a l t o (i)
t h e M a x i m u m C o n s i d e r a t i o n A m o u n t , d i v i d e d b y (ii) t h e U S D E q u i v a l e n t a g g r e g a t e

Purchase

Consideration that w o u l d b e required t o repurchase t h e aggregate principal a m o u n t o f all the

First Priority N o t e s that h a v e b e e n validly tendered (and not validly withdrawn) in the relevant
Offers (such factor being subject t o adjustment t o allow f o r t h e U S D Equivalent

Purchase

Consideration o f First Priority Notes accepted t o equal a s closely a s possible the

Maximum

Consideration Amount).

If t h e a g g r e g a t e U S D E q u i v a l e n t P u r c h a s e C o n s i d e r a t i o n t h a t w o u l d b e r e q u i r e d t o r e p u r c h a s e
t h e a g g r e g a t e principal a m o u n t o f all t h e S e c o n d Priority N o t e s validly t e n d e r e d ( a n d n o t validly
withdrawn) i n the relevant Offers is greater than the M a x i m u m S e c o n d Priority Consideration
A m o u n t , t h e n the C o m p a n i e s intend to accept s u c h validly tendered S e c o n d Priority Notes o n a
pro rata basis such that the aggregate

U S D Equivalent Purchase Consideration payable in

respect o f such S e c o n d Priority Notes accepted for purchase is no greater than the M a x i m u m
S e c o n d Priority Consideration A m o u n t . I n such circumstances, each such tender of S e c o n d
P r i o r i t y N o t e s w i l l b e s c a l e d b y a f a c t o r e q u a l t o (i) t h e M a x i m u m S e c o n d P r i o r i t y C o n s i d e r a t i o n
A m o u n t , d i v i d e d b y (ii) t h e U S D E q u i v a l e n t a g g r e g a t e P u r c h a s e C o n s i d e r a t i o n t h a t w o u l d b e
required t o r e p u r c h a s e t h e a g g r e g a t e principal a m o u n t o f all t h e S e c o n d Priority N o t e s that
h a v e b e e n validly tendered (and not validly withdrawn) i nthe relevant Offers (such factor being
subject t o adjustment t o allow f o rthe U S D Equivalent Purchase Consideration of Second
Priority

Notes

accepted t o equal

a s closely

a s possible

theMaximum

Second

Priority

Consideration Amount).
E a c h s u c h t e n d e r of N o t e s for p u r c h a s e will b e r o u n d e d d o w n t o t h e n e a r e s t applicable Integral
Multiple after application o f t h e a b o v e scaling factor.

I nthe event o f a n y such pro-ration, the

relevant C o m p a n y will o n l y a c c e p t t e n d e r s o f First Priority N o t e s o r S e c o n d Priority N o t e s , a s

t h e c a s e m a y be, subject to pro-ration to t h e e x t e n t s u c h pro-ration will not result in t h e relevant
Noteholder transferring First Priority Notes o rS e c o n d Priority Notes to the relevant C o m p a n y i n
a n a g g r e g a t e n o m i n a l a m o u n t of l e s s t h a n t h e r e l e v a n t M i n i m u m D e n o m i n a t i o n .
T h e C o m p a n i e s r e s e r v e t h e right, but a r e not obligated, t o i n c r e a s e o r d e c r e a s e t h e M a x i m u m
Consideration Amount and/or the M a x i m u m Second

Priority Consideration A m o u n t i n their

absolute discretion.
N o alternative, conditional or contingent t e n d e r s will b e accepted.
Indicative Offer Timetable
T h e following table sets out the expected dates and times o f the k e y events relating t o the
Offers. T h i s is a n indicative timetable a n d is subject t o c h a n g e . All t i m e s are L o n d o n time,
unless otherwise stated.
Date and time

Event

On

Launch Date

March

2016
Offers announced and Tender Offer M e m o r a n d u m available from the Information
and Tender Agent
Notice of Offers published
4 p.m. on

Expiration Deadline

18 March 2016
Deadline

f o r receipt

b y t h e Information and Tender Agent of all Tender

Instructions

At or around

Announcement of indicative results of the Offers

a.m. on
21 March 2016

A n n o u n c e m e n t b y t h e C o m p a n i e s of w h e t h e r t h e y i n t e n d t o a c c e p t v a l i d t e n d e r s
of N o t e s p u r s u a n t t o t h e O f f e r s a n d if s o a c c e p t e d ( 1 ) n o n - b i n d i n g i n d i c a t i o n s o f
tho

All

C o n s i d e r a t i o n A m o u n t , (iii) t h e l e v e l s a t w h i c h t h e C o m p a n i e s e x p e c t t o s e t t h e
aggregate n o m i n a l a m o u n t of e a c h series of N o t e s accepted for repurchase a n d
(iv) details o f a n y s c a l i n g of O f f e r s o f N o t e s t e n d e r e d for r e p u r c h a s e a n d (2) t h e
Sterling F X Rate and the Euro F X Rate
At

Price*

2.00 p.m. on 21
March 2016

Determination

o f t h e relevant

Benchmark

Rates,

Repurchase Prices f o r the 2017 Notes and the

Purchase

Yields a n d

Notes i n the

manner

d e s c r i b e d in this T e n d e r O f f e r M e m o r a n d u m
As soon as

Announcement of Acceptance and Results

reasonably
practicable after

A n n o u n c e m e n t by the C o m p a n i e s o f w h e t h e r they accept for repurchase N o t e s

t hIt;
o

in
III

if
II c n

tho

UUI

Determination

A m o u n t , (ii) t h e f i n a l M a x i m u m S e c o n d P r i o r i t y C o n s i d e r a t i o n A m o u n t (iii) t h e

Time

a g g r e g a t e n o m i n a l a m o u n t o f N o t e s o f e a c h s e r i e s a c c e p t e d f o r r e p u r c h a s e (if
a n y ) , (iv) p r o r a t a s c a l i n g f a c t o r s ( i f a n y ) , ( v ) t h e r e l e v a n t B e n c h m a r k R a t e s ,
Purchase Yields and Repurchase Prices

23 March 2016

the 2017 Notes and the

Notes

Settlement Date
D a t e for the p a y m e n t o f the relevant R e p u r c h a s e Price a n d A c c r u e d Interest in
respect of the N o t e s a c c e p t e d for repurchase

For further information, please contact:

The Dealer Managers
Lloyds Bank

Barclays Bank P L C
5 T h e North Colonnade
5BB

United

Kingdom

London EC2V 5DD

London EC2V
United Kingdom

For information by telephone:

For information by telephone:

+44 20 7885 5739

+44 20 7158 2 7 2 0 / 1 7 2 1

Attention: Liability

For information by telephone:

+44 20 3134 8515

Management

Attention: Liability

Attention: Liability
Management

O n e Basinghall Avenue

Street

Canary Wharf
London

Standard Chartered Bank

Management

Group

liability_management@sc.com

Email:

Email: eu.lm@barclays.com

THE

Group

Email:

Group

lloydsbanking.com

INFORMATION AND T E N D E R AGENT

In London:

In Hong Kong:

D.F. King Ltd.

D.F. King Ltd.

W o o d Street

Suite

Central Tower

London EC2V 7AN

28 Queen's Road Central

United Kingdom

Central Hong Kong

Telephone: +44 20 7920 9700

Telephone: +852 3953 7230

Email: scb@dfkingltd.com
Website: http://sites.dfkingltd.com/scb

DISCLAIMER
This announcement

must b e read in conjunction with the Tender Offer M e m o r a n d u m .

The

Tender Offer M e m o r a n d u m contains important information which must b e read carefully before
a n y decision i s m a d e with respect t o the Offers described i nthis a n n o u n c e m e n t .

If a n y h o l d e r

o f N o t e s i s i n a n y d o u b t a s t o t h e a c t i o n it s h o u l d t a k e , it i s r e c o m m e n d e d t o s e e k its o w n l e g a l ,
tax and financial advice, including a s t o a n y tax consequences,
manager, counsel, accountant o r other independent

from its stockbroker,

financial adviser.

bank

A n y holder of Notes

w h o s e N o t e s a r e h e l d o n its b e h a l f b y a b r o k e r , d e a l e r , b a n k , c u s t o d i a n , t r u s t c o m p a n y o r o t h e r
nominee

must contact

such

e n t i t y if i t w i s h e s t o p a r t i c i p a t e

Companies, Barclays Bank P L C , Lloyds T S B Bank

in t h e Offers.

None of t h e

S t a n d a r d Chartered B a n k , D.F. King Ltd.

or a n y o f their respective affiliates, m a k e s a n y r e c o m m e n d a t i o n a s t ow h e t h e r o rnot a n y holder

of N o t e s s h o u l d tender N o t e s held by t h e m pursuant to the Offers.
N o offer t o purchase a n y N o t e s is being m a d e pursuant t o this a n n o u n c e m e n t . Neither this
announcement

nor the Tender Offer M e m o r a n d u m

constitutes a n offer t o purchase

in any

j u r i s d i c t i o n i n w h i c h , o r t o o r f r o m a n y p e r s o n t o o r f r o m w h o m , it i s u n l a w f u l t o m a k e s u c h o f f e r
under applicable securities l a w s a n d t e n d e r s o f securities pursuant t o t h e Offers will not b e
accepted

h o l d e r s t h e r e o f in a n y jurisdiction w h e r e s u c h invitation o r t e n d e r is u n l a w f u l .

T h e distribution o fthis a n n o u n c e m e n t and the Tender Offer M e m o r a n d u m incertain jurisdictions

m a y be restricted by law.
P e r s o n s into w h o s e p o s s e s s i o n this a n n o u n c e m e n t

and/or the Tender Offer

Memorandum

c o m e s are required to inform t h e m s e l v e s about, and to observe, a n y such restrictions.

Offer Restrictions
United Kingdom
The communication

of this announcement,

the Tender Offer M e m o r a n d u m

a n d any

d o c u m e n t s o r materials relating t o the Offers in respect o f each series of Notes is not

m a d e and such documents and/or materials h a v e not been approved b y a n authorised
for the purposes o f section 21 o f the Financial Services and Markets Act 2000.

other
being

person

Accordingly,

such d o c u m e n t s and/or materials are not being distributed to, and m u s t not b e passed o n to,
the general public i n the United K i n g d o m , a n d are only for circulation t o persons outside the
United

Kingdom

o r t o persons

within t h e United

investment professionals (as defined in Article

Kingdom

falling within t h e definition o f

o fthe Financial Services and Markets Act

2 0 0 0 ( F i n a n c i a l P r o m o t i o n ) O r d e r 2 0 0 5 ( t h e "Order")), o r w i t h i n A r t i c l e 4 3 ( 2 ) o f t h e O r d e r , o r
w i t h i n A r t i c l e 4 9 ( 2 ) ( a ) t o ( d ) o f t h e O r d e r , o r t o o t h e r p e r s o n s t o w h o m it m a y l a w f u l l y b e
communicated in accordance with the Order.
Belgium
Neither this a n n o u n c e m e n t ,

t h eTender Offer M e m o r a n d u m

n o rany other documents o r

m a t e r i a l s relating t ot h e O f f e r s i n respect o f e a c h S e r i e s o f N o t e s h a v e b e e n s u b m i t t e d to o r will

be submitted

f o r approval

{"Authorite des services

o r recognition t o t h e Financial Services a n dMarkets

et marches financiers/Autoriteit

financiele diensten en

Authority
and,

accordingly, the Offers m a y not b e m a d e i n Belgium b y w a y of a public offering, a s defined i n

A r t i c l e s 3 a n d 6 o f t h e B e l g i a n L a w o f 1 A p r i l 2 0 0 7 o n p u b l i c t a k e o v e r b i d s ( t h e "Belgian
Takeover Law") a s a m e n d e d o r r e p l a c e d f r o m t i m e t o t i m e . A c c o r d i n g l y , t h e O f f e r s m a y n o t b e
a d v e r t i s e d a n d t h e O f f e r s will not b ee x t e n d e d , a n d neither this a n n o u n c e m e n t , t h e T e n d e r Offer
Memorandum

n o r a n yother documents

o r materials relating t o t h e Offers (including a n y

m e m o r a n d u m , i n f o r m a t i o n circular, b r o c h u r e o r a n y similar d o c u m e n t s ) h a s b e e n o r shall b e

distributed o r m a d e available, directly o r indirectly, t o a n y p e r s o n in B e l g i u m other t h a n (i) t o
"qualified investors" in t h e s e n s e of Article
offer o f placement

ofthe Belgian Law of

J u n e 2 0 0 6 o n the public

instruments a n dt h e admission t o trading of placement

instruments o n

r e g u l a t e d m a r k e t s , a c t i n g o n t h e i r o w n a c c o u n t o r (ii) i n a n y c i r c u m s t a n c e s s e t o u t i n A r t i c l e 6 ,
4 of the Belgian T a k e o v e r Law. T h e Tender Offer M e m o r a n d u m h a s been issued only for the
personal u s e o f the a b o v e qualified investors a n d exclusively f o rthe purpose of the Offers.
Accordingly,

t h e information

contained

in this

announcement

a n d t h e Tender

Offer

M e m o r a n d u m m a y not b e used f o ra n y other purposes o r disclosed t o a n y other person in

Belgium.
Canada
A n y offer o r solicitation

in Canada

must b e made

t h r o u g h a dealer that is appropriately

registered under the laws o f the applicable province o r territory of C a n a d a , o r pursuant t o a n

e x e m p t i o n f r o m that r e q u i r e m e n t . W h e r e o n e o f the D e a l e r M a n a g e r s o ra n y affiliate thereof is a
registered dealer o r able t o rely o n a ne x e m p t i o n f r o m the requirement t o b e registered i n s u c h
jurisdiction, the relevant Offer shall b e d e e m e d t o b e m a d e b y such Dealer Manager, o r such
affiliate, o n behalf o f t h e relevant C o m p a n y in that jurisdiction.
France
T h e Offers a r e n o t being m a d e , directly o r indirectly, t o t h e public i n F r a n c e . N e i t h e r this
a n n o u n c e m e n t , the T e n d e r Offer M e m o r a n d u m nor a n y other d o c u m e n t s o r offering materials
relating t othe Offers in respect o f each Series of N o t e s h a v e b e e n o rshall b edistributed to the
p u b l i c i n F r a n c e a n d o n l y (i) p r o v i d e r s o f i n v e s t m e n t s e r v i c e s r e l a t i n g t o p o r t f o l i o
f o r t h e a c c o u n t o f t h i r d p a r t i e s {personnes
pour

fournissant

service

de gestion de

de tiers) a n d / o r ( i i ) q u a l i f i e d i n v e s t o r s (investisseurs

defined in, and i n accordance

with, Articles

management

and

qualifies),
to

all a s
of the

F r e n c h C o d e m o n e t a i r e e t financier, a r e eligible t o participate i n t h e Offers. T h e T e n d e r Offer

M e m o r a n d u m h a s not b e e n submitted t o t h e clearance procedures (visa) of the Autorite des
marches financiers.
Italy
Neither this a n n o u n c e m e n t ,

t h eTender Offer M e m o r a n d u m

n o r a n yother documents o r

m a t e r i a l s relating t o t h e O f f e r s h a v e b e e n o rwill b es u b m i t t e d t ot h e c l e a r a n c e p r o c e d u r e o f t h e
N a z i o n a l e p e r l e S o c i e t a e l a B o r s a ("CONSOB") p u r s u a n t t o I t a l i a n l a w s a n d
regulations.
T h e Offers a r e being carried o u t i n t h e R e p u b l i c o f Italy a s e x e m p t e d offers p u r s u a n t t o article
paragraph 3-bis o f the Legislative Decree No. 5 8 of 2 4 February

a s amended

( t h e "Financial Services Act") a n d a r t i c l e 3 5 - b i s , p a r a g r a p h 4 o f C O N S O B R e g u l a t i o n

No.

10

1 1 9 7 1 o f 1 4 M a y 1 9 9 9 , a s a m e n d e d ( t h e "Issuers' Regulation"). T h e O f f e r s a r e a l s o

being

carried out i n c o m p l i a n c e with article 35-bis, p a r a g r a p h 7 o f the Issuers' R e g u l a t i o n .

A h o l d e r o f N o t e s located i n t h e R e p u b l i c o f Italy c a n t e n d e r N o t e s t h r o u g h a u t h o r i s e d p e r s o n s
(such a s i n v e s t m e n t firms, b a n k s o r financial intermediaries permitted t o conduct s u c h activities
in t h e R e p u b l i c o f Italy i n a c c o r d a n c e w i t h t h e F i n a n c i a l S e r v i c e s Act, C O N S O B R e g u l a t i o n N o .
of 2 9 October 2007, a s a m e n d e d from time to time, and Legislative Decree No. 385 of
September 1 , 1993, a s a m e n d e d ) and in compliance with applicable laws and regulations o r
with r e q u i r e m e n t s i m p o s e d b yC O N S O B o r a n y other Italian authority.
Each intermediary m u s t comply with the applicable laws and regulations concerning information
d u t i e s v i s - a - v i s its c l i e n t s i n c o n n e c t i o n w i t h t h e N o t e s o r t h e O f f e r s .
Spain
Neither the Offers nor this a n n o u n c e m e n t nor the T e n d e r Offer M e m o r a n d u m constitute a n offer
of securities o r t h e solicitation o f a n offer o f securities t o t h e public i n S p a i n u n d e r t h e S p a n i s h
S e c u r i t i e s M a r k e t L a w (Ley

de 28 de Julio, del Mercado

of November 4,2005 and Royal Decree

de

Royal Decree

of July 27, 2 0 0 7 . Accordingly,

the Tender Offer M e m o r a n d u m h a s not been submitted for approval a n d h a s not b e e n approved
by the S p a n i s h Securities Market Regulator

del Mercado de Valores).

United States
T h e O f f e r s a r e not being m a d e , a n d will not b e m a d e , directly o r indirectly i n o r into, o r b y u s e o f
the mails of,o r b y a n y m e a n s o r instrumentality of interstate o r foreign c o m m e r c e o f o r of any
facilities o f a n a t i o n a l s e c u r i t i e s e x c h a n g e of, t h e U n i t e d S t a t e s . T h i s i n c l u d e s , but is not limited
to, facsimile t r a n s m i s s i o n , electronic mail, telex, telephone, t h e internet a n d other f o r m s of
electronic communication. T h e Notes m a y n o t b e tendered in t h eOffers b y any such

use,

m e a n s , instrumentality o r facility f r o m o r within t h e United S t a t e s o r b y p e r s o n s located o r

resident i n t h e United States. Accordingly, copies o f this a n n o u n c e m e n t a n d the T e n d e r Offer
M e m o r a n d u m and a n y other d o c u m e n t s o r materials relating t o the Offers are not being, a n d
m u s t n o t b e , directly o r indirectly mailed o r o t h e r w i s e transmitted, distributed o r f o r w a r d e d
(including, without limitation, b ycustodians, n o m i n e e s o rtrustees) in o rinto t h e United States o r
to a n y persons located o r resident in the United States. A n y purported tender of Notes in the
Offers resulting directly o r indirectly f r o m a violation o f t h e s e restrictions will b e invalid a n d a n y
purported tender o f N o t e s m a d e by,o r b y a n y person acting f o r the account o r benefit of, a
person located in the United States o r a n y agent, fiduciary o r other intermediary acting o n a
n o n - d i s c r e t i o n a r y b a s i s for a principal giving instructions f r o m within t h e U n i t e d S t a t e s will b e
invalid a n d will not be accepted.

E a c h h o l d e r o f N o t e s p a r t i c i p a t i n g i n a n O f f e r w i l l r e p r e s e n t t h a t it i s n o t l o c a t e d i n t h e U n i t e d
S t a t e s a n d i s n o t p a r t i c i p a t i n g i n s u c h O f f e r f r o m t h e U n i t e d S t a t e s , o r it i s a c t i n g o n a n o n discretionary basis for a principal located outside the United States that is not giving a n order to
participate i nsuch Offer f r o m the United States. F o r t h e purposes o f this a n d t h e a b o v e
p a r a g r a p h , U n i t e d S t a t e s m e a n s t h e U n i t e d S t a t e s o f A m e r i c a , its t e r r i t o r i e s a n d p o s s e s s i o n s
(including Puerto Rico, the U.S. Virgin Islands, G u a m , A m e r i c a n S a m o a , W a k e Island a n d the

N o r t h e r n M a r i a n a Islands), a n y s t a t e of t h e U n i t e d S t a t e s of A m e r i c a a n d t h e District of
Columbia.