May 19, 2017 / 1:19 PM / 2 months ago

BRIEF-OneSavings Bank announces final terms of capital issue

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May 19 (Reuters) - OneSavings Bank Plc:

* Additional tier 1 capital issuance

* Final terms of its issue of 60 mln stg fixed rate resetting perpetual subordinated contingent convertible securities

* Securities will be subject to full conversion into ordinary shares of OSB in event that its CET1 capital ratio falls below 7 percent

* Securities will be issued at 100 pct of their principal amount

* Settlement is expected to take place on or about May 25

* Net proceeds of issue of securities will be used to further optimise issuer's capital stack

* Barclays Bank Plc is acting as sole bookrunner and structuring advisor for issue Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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