Last checked at 7 Sep 2022 15:56
7 September 2022
Announcement to Listing Authorities
West Bromwich Building Society Permanent Interest Bearing Shares (GB00B0CX2M20) - notification of 5 October 2022 interest payment.
As detailed in the statement issued on 20 January 2020 the current distribution policy limits interest payments on the PIBS to the lower of (i) the equivalent annual yield that would have been paid to holders of PPDS (had they remained in issue on their original terms); and (ii) the annual rate set out in the Special Conditions of Issue of the PIBS (the "Specified Rate"), being 6.15% prior to 5 April 2021 and thereafter, a rate of interest reset periodically and equal to the applicable 5-year gilt rate plus a margin of 2.8%.
In line with the distribution policy above the Board passed a resolution to make an interest payment in respect of the Society's PIBS of 0.74% on 5 October 2022.