| Issuer | Aggregate Principal Amount Outstanding | Aggregate Principal Amount to be Redeemed | Title of Series of Notes | CUSIP ISIN | Trading Symbol |
|---|---|---|---|---|---|
| BPCM p.l.c. | USD 1,200,000,000 | USD 1,200,000,000 | 4.375% Perpetual Subordinated Non-Call 5.25 Fixed Rate Reset Notes (the “Notes”) | 05565QDU9 / US05565QDU9 | BP/P1 |
BPCM p.l.c. will redeem the BPCM p.l.c. 4.375% Notes at a redemption price equal to the sum of (i) 100% of the outstanding principal amount of the Notes to be redeemed and (ii) any accrued and unpaid interest up to (but excluding) the Redemption Date and (iii) any outstanding Arrears of Interest (without double counting) (the “Redemption Price”). The Redemption Price shall be $1,019.32 per $1,000 principal amount of Notes, which is equal to $1,000 per $1,000 principal amount of Notes to be redeemed, plus $19.32 per $1,000 principal amount of Notes, which is accrued and unpaid interest on the principal amount of the Notes to be redeemed to the Redemption Date.
The redemption of the Notes is made pursuant to the terms of the Indenture, dated as of 8 March 2002 (the “2002 Indenture”), by and among BPCM p.l.c., bp and The Bank of New York Mellon Trust Company, N.A. (as successor to JPMorgan Chase Bank), as trustee, as supplemented by the Thirty-First Supplemental Indenture, dated as of 22 June 2020 (the “Thirty-First Supplemental Indenture”). Capitalized terms used in this press release and not defined herein are used as defined in the 2002 Indenture or the Thirty-First Supplemental Indenture, as applicable.
On the relevant Redemption Date, (i) the Notes will no longer be deemed outstanding, (ii) the Redemption Price will become due and payable on the Notes, as applicable, and, (iii) unless BPCM p.l.c. and bp each default in making payment of the Redemption Price, interest on the Notes called for redemption shall cease to accrue on and after the relevant Redemption Date. The Trustee is transmitting to registered holders of the Notes the notices of redemption containing information required by the 2002 Indenture. The paying agent for the Notes is The Bank of New York Mellon Trust Company, N.A. and the address for delivery of the Notes is as follows:
| If by mail: | If by registered or certified mail: | If by hand or overnight delivery: |
|---|---|---|
The Bank of New York Mellon 2001 Bryan Street 10th Floor Dallas, TX 75201 Attn: Bondholders Redemption Unit |
The Bank of New York Mellon 2001 Bryan Street 10th Floor Dallas, TX 75201 Attn: Bondholders Redemption Unit |
The Bank of New York Mellon 2001 Bryan Street 10th Floor Dallas, TX 75201 Attn: Bondholders Redemption Unit |
bp press office, London: Rita Brown, +44 (0)7787 685821, bppress@bp.com