ICBC (Thai) Basel III Tier 2 Instruments

ICBC (Thai) Public Company Limited (ICBCT), a Thai commercial bank, will issue subordinated instruments to be qualified as tier 2 capital which can be redeemed early and will be written down (fully or partially) if government authority decides to grant financial assistance.

The ICBCT Basel III Tier 2 instruments are rated ‘AA+’ by Fitch Ratings (Thailand) Limited (as of 29 January 2018).

Basel III Tier 2 Instruments: 10.5-year Tenor
For institutional investors, the minimum subscription is 100,000Bt per tranche, with subsequent multiples of 10,000Bt.
For high net worth investors, the minimum subscription is 100,000Bt per tranche, with subsequent multiples of 100,000Bt.
The par value is 1,000Bt and the offering price per unit is 1,000Bt.

Expected subscriptions will be available within March 2561 at Bangkok Bank branches (except microbranches).

For more information, please call Bualuang Phone 1333.

Warning:

  • Investors are advised to study the product characteristics including the returns conditions and risks before deciding to invest.
    • Risk of subordinated status: In case the issuer is under absolute receivership order or business reorganization order or is adjudged bankrupt under the laws regarding bankruptcy, the instrument holders’ right under these instruments is subordinated to that of the Issuer’s other preferred creditors and ordinary creditors (including the depositors).
    • Risk of write-down/write-off of capital instruments: At the point of non-viability where the government authority decides to grant financial assistance to the issuer, the interest as well as the principal amount of the instrument may be written down. Accordingly, an instrument holder may lose all of its investment, including the principal amount plus any accrued interest, if such statutory loss absorption measures are acted upon. Such write-down/write-off shall not constitute an event of default.
    • Risk of early redemption: Upon the occurrence of events of early redemption as specified in the Terms and Conditions, the instrument holder may be exposed to reinvestment risk due to a yield that is considerably lower than anticipated from plausible downward trend of interest rate.
  • More details including the registration statement and draft prospectus are available at www.sec.or.th


Notes:

  • The allotment of the Basel III tier 2 instruments to subscribers shall be at the absolute discretion of the Joint Lead Arrangers.
  • The registration statement and the draft prospectus have been filed with the SEC and are in the process of approval for their effectiveness.
  • The conditions of the Basel III tier 2 instrument offering are based on the disclosure of the draft prospectus.
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