Important information
Aegon wishes to inform holders of USD 500,000,000 Floating Rate Perpetual (ISIN: NL0000116168) (the Securities) as follows in relation to the most recent fixing of the Coupon Rate.
Due to unavailability of the 10-year USD LIBOR ICE swap rate on July 13, 2023 and given that the Reference Banks, subsequently contacted by the Calculation Agent, were unable to provide a quote for a fixed- for-floating 3-month LIBOR based swap with a maturity of 10 years, the "USD-CMS-10 year" has been determined by the Trustee based on condition 5(e) of the terms and conditions of the Securities. The USD Coupon Rate applied to the Coupon Period starting July 15, 2023 and ending October 15, 2023 is 3.93894%.
The Coupon Rate has been determined as the aggregate of:
- the 10-year USD SOFR ICE swap rate as of July 13, 2023 of 3.5520%,
- a spread adjustment of 0.28694% based on the fallback formula proposed by the Alternative Reference Rates Committee (ARRC), and
- a credit spread of 0.10%.
Defined terms used herein have the meaning given to them in the offering circular which can be accessed here and the press release on the determination of the Coupon Rate can be accessed here.