Slaughter and May advised Legal & General Group Plc on its issuance of US$850 million Fixed Rate Reset Subordinated Notes due 2047 pursuant to its £4 billion Euro Note Programme

Slaughter and May advised Legal & General Group Plc on its issuance of US$850 million Fixed Rate Reset Subordinated Notes due 2047 pursuant to its £4 billion Euro Note Programme. The Notes bear interest at the rate of 5.25 per cent. per annum until 21 March 2027. On such date and thereafter on each reset date, the interest rate shall be reset by reference to a reference bond rate.

Barclays Bank, BNP Paribas, Citigroup Global Markets, HSBC, Merrill Lynch International and Morgan Stanley acted as joint lead managers.