BP » Topics » U.S.$750,000,000 1.55% Guaranteed Notes due 2011
This excerpt taken from the BP FWP filed Aug 7, 2009.
U.S.$750,000,000 1.55% Guaranteed Notes due 2011
BP Capital Markets p.l.c. (BP Capital U.K.)
BP p.l.c. (BP)
1.55% Guaranteed Notes due 2011 (the 2011 Notes)
Total principal amount being issued:
The 2011 Notes will be issued in denominations of $1,000 and integral multiples of $1,000.
August 11, 2009
Payment of the principal of and interest on the 2011 Notes is fully guaranteed by BP.
August 11, 2011
Day Count Convention:
1.55% per annum
Date interest starts accruing:
August 11, 2009
Interest Payment Dates:
February 11 and August 11 of each year, subject to the Day Count Convention.
First Interest Payment Date:
February 11, 2010
1% due July 2011
US treasury yield:
Spread to treasury:
Any weekday on which banking or trust institutions in neither New York nor London are authorized generally or obligated by law, regulation or executive order to close.
The 2011 Notes are unsecured and will rank equally with all of BP Capital U.K.s other unsecured and unsubordinated indebtedness.
Regular record dates for interest:
The 15th calendar day
preceding each Interest Payment Date, whether or not such day is a Business Day.
Payment of additional amounts:
None payable under current law; provided that the 2011 Notes are listed on a recognised stock exchange within the meaning of Section 1005 of the UK Income Tax Act 2007. The New York
Stock Exchange is a recognised stock exchange as at the date hereof.
Application will be made to list the 2011 Notes on the New York Stock Exchange although neither BP Capital U.K. nor BP can guarantee such listing will be obtained.
The 2011 Notes are not redeemable, except as described under Description of Debt SecuritiesOptional Tax Redemption on page 19 of the prospectus. The provision for optional tax
redemption described therein will apply in respect of changes in tax treatments occurring after August 11, 2009.
There is no sinking fund.
BP Capital U.K. may, at its sole option, at any time and without the consent of the then existing note holders issue additional notes in one or more transactions subsequent to the date of the
related prospectus supplement dated August 6, 2009, with terms (other than the issuance date, issue price and, possibly, the first interest payment date and the date interest starts accruing) identical to the 2011 Notes issued pursuant to the
prospectus supplement. These additional 2011 Notes will be deemed part of the same series as the 2011 Notes issued pursuant to the prospectus supplement and will provide the holders of these additional 2011 Notes the right to vote together with
holders of the 2011 Notes issued pursuant to the prospectus supplement, provided that such additional notes will be issued with no more than de minimis original issue discount or be part of a qualified reopening for U.S. federal
income tax purposes.
Public offering price:
Per 2011 Note: 99.91% Total: $749,325,000
Proceeds, before expenses, to us:
Per 2011 Note: 99.81%; Total: $748,575,000
BNP Paribas Securities Corp. ($187,500,000)
Bank Securities Inc. ($187,500,000)
Morgan Stanley & Co. Incorporated ($187,500,000)
RBS Securities Inc. ($187,500,000)
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