MetLife Announces Full Redemption of 3.048% Series C Senior Component Debentures, Tranche 2
June 23 2021 - 4:15PM
Business Wire
MetLife, Inc. (NYSE: MET) today announced that it will redeem
all of its outstanding 3.048% Series C Senior Component Debentures,
Tranche 2 (the "Notes"), pursuant to the terms of the Notes. The
full $500 million outstanding principal amount of the Notes will be
redeemed on July 23, 2021 (the “Redemption Date”).
The redemption price will be equal to the sum of (1) the present
value, as of the Redemption Date, of all remaining scheduled
principal and interest payments on the Notes from, but excluding,
the Redemption Date through, and including, December 15, 2022 (not
including any portion of such payments of interest that have
accrued, or for which the regular record date has occurred, as of
the Redemption Date), such present value to be calculated using
discounting, on a semi-annual basis assuming a 360-day year
consisting of twelve 30-day months, at a discount rate equal to the
lesser of (i) the Treasury Rate (as defined in the indenture for
the Notes) plus fifty (50) basis points and (ii) fifteen percent
(15%); and (2) (without duplication) unpaid interest that has
accrued on the Notes to, but excluding, the Redemption Date. On and
after the Redemption Date, all interest on the Notes will cease to
accrue.
The Notes are held through The Depository Trust Company ("DTC")
and will be redeemed in accordance with the procedures of DTC.
Payment to DTC for the Notes will be made by The Bank of New York
Mellon Trust Company, N.A., as paying agent.
About MetLife
MetLife, Inc. (NYSE: MET), through its subsidiaries and
affiliates (“MetLife”), is one of the world’s leading financial
services companies, providing insurance, annuities, employee
benefits and asset management to help its individual and
institutional customers navigate their changing world. Founded in
1868, MetLife has operations in more than 40 markets globally and
holds leading positions in the United States, Japan, Latin America,
Asia, Europe and the Middle East. For more information, visit
www.metlife.com.
Forward-Looking Statements
The forward-looking statements in this news release, such as
“will,” are based on assumptions and expectations that involve
risks and uncertainties, including the “Risk Factors” MetLife, Inc.
describes in its U.S. Securities and Exchange Commission filings.
MetLife’s future results could differ, and it has no obligation to
correct or update any of these statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20210623005853/en/
For Media: Meredith Hyland 212-578-9415
Meredith.Hyland@metlife.com
For Investors: John Hall 212-578-7888
John.A.Hall@metlife.com
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