The distribution of and access to the documents and other information posted on this portion of the website is restricted for regulatory reasons. We request that you complete all fields below in order to access this information. They must be true and accurate. This personal data will not be retained by us and will be requested of you each time you seek to access this restricted information.
Disclaimer - Financial operations - May 16, 2014
AXA announced today the successful placement of EUR 1 billion of Reg S undated subordinated notes to institutional investors. The initial spread over swap is 225 basis points. The initial coupon has been set at 3.875% per annum. It will be fixed until the first call date in October 2025 and reset thereafter every 11 years with a 100 basis points step-up.
Settlement of the notes is expected to take place on May 20, 2014.
The notes will be treated as capital from a regulatory and rating agencies' perspective within applicable limits. The transaction has been structured to comply with the eligibility criteria for the 50% perpetual subordinated debt limit under Solvency 1 and in order to be eligible as capital under Solvency II.
IMPORTANT LEGAL INFORMATION AND CAUTIONARY STATEMENTS CONCERNING FORWARD-LOOKING STATEMENTS
Certain statements contained herein may be forward-looking statements including, but not limited to, statements that are predictions of or indicate future events, trends, plans or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results and AXA's plans and objectives to differ materially from those expressed or implied in the forward looking statements. Please refer to the section "Cautionary statements" in page 2 of AXA's Document de Référence for the year ended December 31, 2013, for a description of certain important factors, risks and uncertainties that may affect AXA's business and/or results of operations. AXA undertakes no obligation to publicly update or revise any of these forward-looking statements, whether to reflect new information, future events or circumstances or otherwise.
This announcement is for information purposes only and does not constitute an offer to sell or a solicitation to purchase any securities in any jurisdiction. The securities referred to in this press release will not be offered to the public.
This press release is not an offer for sale within the United States of any security of AXA or any of its affiliates. Securities of AXA or any of its affiliates may not be offered or sold in the United States absent registration under U.S. securities laws or unless exempt from registration under such laws.
The following pages include information relating to the contemplated issue by AXA of subordinated notes. These securities will not be offered to the public. The following documents are available on this website for information purposes only; they may not be used or relied on for the purpose of making any investment decision with respect to any securities.
This website and the information contained herein are not intended for, and may not be accessed by, or distributed or disseminated to, persons resident or physically present in the United States of America (including its territories and possessions, the "United States"), Canada, Japan or Australia, and do not constitute, and shall not be construed as, an offer to sell or a solicitation of an offer to purchase or acquire, directly or indirectly, any securities of AXA in the United States, Canada, Japan or Australia or to, or for the account or benefit of, any person resident in the United States, Japan, Canada, Australia including any corporation or other entity organized under the laws of the United States, Japan, Canada or Australia.
The AXA securities referred to on this website have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act.
All persons residing outside of the United States, Canada, Japan and Australia who wish to access the documents contained on this website should first ensure that they are not subject to local laws or regulations that prohibit or restrict their right to access this website, or require registration or approval for any acquisition of securities by them. No such registration or approval will be requested. AXA assumes no responsibility if there is a violation of applicable law and regulations by any person.
I therefore certify that:
(1) I am not a resident of or physically present in the United States, Canada, Japan or Australia; and
(2) I am a resident of and physically present in a Member State of the European Economic Area having implemented the Prospectus Directive 2003/71/CE, as amended, and I am either:
(a) a qualified investor as defined in the Prospectus Directive 2003/71/CE, as amended, or
(b) otherwise authorized to access this information pursuant to applicable laws or regulations.
I have read and understood the foregoing, and hereby make the certifications above and agree to comply with all of the above restrictions.