Key Transaction Details
The Bank has decided to exercise the Call Option in respect of US$600,000,000 4.10% Additional Tier 1 Notes issued on September 8, 2021. The redemption will occur on the First Call Date of September 8, 2026.
Financial Terms of Redemption
- Security Type: Additional Tier 1 Notes
- Outstanding Amount: US$600,000,000
- Interest Rate: 4.10% per annum
- Redemption Date: September 8, 2026
- Redemption Price: 100% of par value
- Additional Payment: Accrued and unpaid interest/distributions up to but excluding the Redemption Date
- ISINs: USY1009XAA73 (Regulation S), US05464XAA37 (Rule 144A)
- CUSIPs: Y1009XAA7 (Regulation S), 05464XAA3 (Rule 144A)
- Common Codes: 238538416 (Regulation S), 238460808 (Rule 144A)
Regulatory Approvals and Conditions
The Bank has obtained prior approval from the Reserve Bank of India (Department of Banking Regulation) on July 31, 2026, for this redemption. The Bank has demonstrated to the satisfaction of the RBI that its capital position would remain well above minimum capital requirements following the redemption.
Procedural Actions
A formal letter dated August 24, 2026, has been issued to The Bank of New York Mellon, London Branch, as trustee to the Notes. The trustee has been instructed to issue a notice of redemption to all eligible Noteholders according to prescribed timelines and delivery methods.
Impact on Securities
Interest on the Notes called for redemption will cease to accrue on and after the Redemption Date (September 8, 2026). The record date for determining eligible Noteholders is the close of business on the Business Day prior to the Redemption Date.
Distribution
Copies of the disclosure have been sent to London Stock Exchange and Singapore Stock Exchange in addition to the primary Indian exchanges.