Slaughter and May, London and Hong Kong, advised Standard Chartered PLC - issue of US$2 billion Additional Tier 1 Securities

Slaughter and May, London and Hong Kong, advised Standard Chartered PLC on its issue of US$2 billion Fixed Rate Resetting Perpetual Subordinated Contingent Convertible Securities. The Securities are convertible into ordinary shares of Standard Chartered PLC if at any time Standard Chartered PLC determines that its Common Equity Tier 1 ratio, calculated on a consolidated and fully loaded basis, is less than 7.00 per cent. The Securities are listed on the Main Board of the Hong Kong Stock Exchange.

Standard Chartered Bank acted as structuring adviser and joint lead manager, BofA Merrill Lynch, Deutsche Bank Securities, Goldman, Sachs & Co, Société Générale Corporate & Investment Banking and UBS Investment Bank acted as joint lead managers and ABN AMRO, Banco Bilbao Vizcaya Argentaria, S.A., COMMERZBANK, Emirates NBD Capital, MAYBANK, Natixis, QNB Capital LLC, RBC Capital Markets and United Overseas Bank Limited acted as co-managers.

Sullivan & Cromwell advised as to New York law.

Sullivan & Cromwell team: John O'Connor , Sannu Shrestha