National Bank: Tender Offer for 500 mln euro notes due 2027

National Bank of Greece announced the launch of a voluntary cash tender offer in respect of its 500,000,000 euros, 7.250% Fixed Rate Resettable Unsubordinated MREL Notes, due 2027.
The Bank further announced its intention to proceed, subject to market conditions, with the issuance of a series of new euro-denominated unsubordinated MREL notes under the Bank’s 5,000,000,000 euros Global Medium Term Note Program. Application will be made for the New Notes to be admitted to trading on the Luxembourg Stock Exchange.

Whether the Offeror will accept for purchase any Notes validly tendered in the Offer is conditional, without limitation, on the successful completion (in the sole determination of the Offeror) of the issuance of the New Notes (the New Issue Condition).

Settlement of the Tender Offer and the New Notes is expected to take place on the same day.

No action has been or will be taken in any jurisdiction in relation to the New Notes to permit a public offering of the New Notes or the distribution of any offering material in any jurisdiction where action for that purpose is required.

BofA Securities Europe SA, Deutsche Bank Aktiengesellschaft, Goldman Sachs Bank Europe SE, Morgan Stanley Europe SE, Natixis and Banco Santander S.A. are the Dealer Managers for the Tender Offer.

This announcement does not constitute an invitation to participate in the Tender Offer or the New Notes in any jurisdiction in which, or to or from any person to or from whom, it is unlawful to make such invitation under applicable securities laws. The distribution of this announcement may be restricted in certain jurisdictions by law.