21st Feb 2025 08:21
21 February 2025
NOTICE OF ISSUER CALL
British Telecommunications public limited company
(LEI: 549300OWFMSO9NYV4H90)
£250,000,000 3.50 per cent. Index-Linked Notes due 2025 (the "Notes")
(ISIN: XS0110081782)
issued under its Euro Medium Term Note Programme
NOTICE IS HEREBY GIVEN by British Telecommunications public limited company (the "Issuer") that the Notes will be fully redeemed by the Issuer on 24 March 2025 (the "Optional Redemption Date"), in accordance with Condition 5(c) (Redemption at the Option of the Issuer (Issuer Call)) of the terms and conditions of the Notes as amended by paragraph 5 of the Appendix to the Pricing Supplement dated 20 April 2000 relating to the issue of the Notes (together, the "Issuer Call Conditions"). The Notes will be redeemed on the Optional Redemption Date at the Optional Redemption Amount calculated by HSBC Bank plc (the "Calculation Agent") as set out in the Issuer Call Conditions.
The Calculation Agent has determined in accordance with the Issuer Call Conditions that the Optional Redemption Amount in respect of the Notes is £2,357.03 per minimum Specified Denomination of £1,000.
Payment of the Optional Redemption Amount, together with interest accrued from, and including, 25 October 2024 to, but excluding, the Optional Redemption Date, will be made on the Optional Redemption Date through Euroclear Bank SA/NV and Clearstream Banking S.A. Accordingly, any interest in respect of the Notes shall cease to accrue on and after the Optional Redemption Date. The listing of the Notes on the Financial Conduct Authority's Official List and the admission of the Notes to trading on the London Stock Exchange's main market will be cancelled on, or around, 24 March 2025.
Terms used in this notice and not defined herein shall have the same meaning given to them in the Issuer Call Conditions.
Further information
The Issuer has exercised its call option to redeem the Notes as part of its liquidity and balance sheet management. The redemption will be funded by existing cash resources.
Questions regarding this Notice of Issuer Call should be directed to the Issuer at:
British Telecommunications public limited company
1 Braham Street
London E1 8EE
For the attention of: Andrew Binnie (Group Treasury Director)
This announcement is released by British Telecommunications public limited company and contains information that qualified or may have qualified as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR"). For the purposes of the UK MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018, this announcement is made by Andrew Binnie, Group Treasury Director of British Telecommunications public limited company.
Related Shares:
Br.tel. 81 S