LONDON - J.P. Morgan SE has announced the commencement of a pre-stabilization period starting today for Kommunalbanken Norway (KBN) securities, which may involve stabilizing actions to support the market price. The securities in question are 5-year USD fixed-rate notes due January 15, 2030, with the coupon rate yet to be confirmed.
KBN, a financial institution owned entirely by the Kingdom (TADAWUL:4280) of Norway, is issuing these notes with an aggregate nominal amount described as a USD Benchmark. The offer price is to be determined, and the notes will be listed on the Luxembourg Stock Exchange's Regulated Market. Notably, the securities come in denominations of USD 200,000 with increments of USD 2,000.
J.P. Morgan SE, acting as the Stabilisation Coordinator, along with Daiwa, Nomura, and RBCCM as Stabilisation Managers, may carry out stabilization activities. These actions could include over-allotting securities up to 5% beyond the aggregate nominal amount or executing transactions to maintain the securities' market price above levels that might otherwise prevail.
The stabilization period is expected to begin today and conclude by February 8, 2025, at the latest. However, stabilization is not guaranteed to occur and may end at any time within the set timeframe. The stabilization will take place over the counter, with the trading venue to be confirmed.
This pre-stabilization notice is purely informational and should not be construed as an offer to underwrite, subscribe for, or acquire any securities. It is directed at individuals outside the United Kingdom or those within the UK who have professional investment experience or are high net worth entities as specified by the Financial Services and Markets Act 2000.
The announcement also specifies that the offer of these securities is only addressed to qualified investors in the European Economic Area (EEA) as defined by the Prospectus Directive, or to others to whom the offer may lawfully be addressed, and should not be relied upon by other persons within the EEA.
This statement is based on a press release and is intended for informational purposes only. The London Stock Exchange (LON:LSEG)'s news service RNS, approved by the Financial Conduct Authority in the UK, provided this information. Terms and conditions may apply to the use and distribution of this data.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.