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Additional Tier 1 (AT1) is a form of tier 1 capital that has been designed to replace PIBS under the new Basel III requirements.
The PRA and European Banking Authority have confirmed that they have no objection to AT1 qualifying as capital under CRDIV/CRR.
The Prospectus dated 15 June 2020 relating to the issue of the £750m 5.75% AT1 contains the Conditions of this Issue.
The Prospectus dated 20 September 2019 relating to the issue of the £600m 5.875% AT1 contains the Conditions of this Issue.
The information contained in the Prospectus' relating to the Society and its businesses was prepared as at the date of each Prospectus. The Prospectus' have not been, and will not be, updated to reflect any changes in the affairs of the Society.
The following is an overview of the issuance history of AT1: