| Issuer | Aggregate Principal Amount Outstanding | Aggregate Principal Amount to be Redeemed | Title of Series of Notes | CUSIP ISIN | Trading Symbol |
|---|---|---|---|---|---|
| BPCMA | USD 998,543,000 | USD 998,543,000 | 3.119% Guaranteed Notes due 2026 (the “3.119% Notes”) | 10373QAT7 US10373QAT76 |
BP/26A |
| BPCMA | USD 1,000,000,000 | USD 1,000,000,000 | 3.410% Guaranteed Notes due 2026 (the “3.410% Notes”, and together with the 3.119% Notes, the “Notes”) | 10373QBE9
|
BP/26C |
BPCMA will redeem the 3.119% Notes at a redemption price equal to the greater of (i) 100% of the aggregate principal amount of the 3.119% Notes to be redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the 3.119% Notes to be redeemed that would be due if the 3.119% Notes matured on February 4, 2026 (not including any portion of payments of interest accrued and unpaid to the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 20 basis points, together with, in each case accrued and unpaid interest on the principal amount of the 3.119% Notes to be redeemed to the Redemption Date (the “3.119% Redemption Price”). The Treasury Rate will be calculated on the third Business Day preceding the Redemption Date. The Trustee will transmit notices of the 3.119% Redemption Price of the 3.119% Notes to registered holders of such series three Business Days prior to the Redemption Date.
BPCMA will redeem the 3.410% Notes at a redemption price equal to the sum of (i) 100% of the outstanding principal amount of the 3.410% Notes to be redeemed and (ii) any accrued and unpaid interest up to (but excluding) the Redemption Date (the “3.410% Redemption Price”, and together with 3.119% Redemption Price, the “Redemption Price”). The 3.410% Redemption Price shall be $1,012.03 per $1,000 principal amount of 3.410% Notes, which is equal to $1,000 per $1,000 principal amount of 3.410% Notes to be redeemed, plus $12.03 per $1,000 principal amount of 3.410% Notes, which is accrued and unpaid interest on the principal amount of the 3.410% 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 4 June 2003 (the “2003 Indenture”), by and among BPCMA, bp and The Bank of New York Mellon Trust Company, N.A. (as successor to JPMorgan Chase Bank), as Trustee (the “Trustee”), as supplemented by the Third Supplemental Indenture, dated as of 14 December 2018 (the “Third Supplemental Indenture”), with respect to the 3.119% Notes, and as further supplemented by the Fourth Supplemental Indenture, dated as of 11 February 2019 (the “Fourth Supplemental Indenture”, and together with the 2003 Indenture and the Third Supplemental Indenture, the “Indenture”), with respect to the 3.410% Notes. Capitalized terms used in this press release and not defined herein are used as defined in the Indenture.
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 BPCMA 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 Indenture.
| 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