Issuer: Delta Lloyd Levensverzekering NV
Parent: Delta Lloyd NV
Issuer Rating: A / Stable (S&P)
Expected Issue Rating: [BBB+] (S&P)
Description: Dated Fixed-to-Floating Deferrable Subordinated Notes
issued by Delta Lloyd Levensverzekering NV
Status: Subordinated
Size: EUR Benchmark
Settlement: [29] Aug 2012
Final Maturity Date: [29] Aug 2042 subject to Mandatory Non-Payment
Conditions (MNPC) not being met, as more fully
described in the prospectus.
Optional Call Dates: [29] Aug 2022 (First Call Date), and on each
quarterly interest payment date thereafter
Initial Price Thoughts: 9% area annual yield
Coupon: [•]% annually until the First Call Date, then
3m Euribor + [•]bps per annum paid quarterly
Step-up: 100bps at First Call Date
First Coupon Date: [29] Aug 2013
Optional Interest Deferral: Cash cumulative optional interest deferral subject
to 6 month pusher upon declaration or payment of
distributions by the Issuer or Parent or if payments
are made on Junior or Parity Securities as defined
in the prospectus.
Mandatory Interest Deferral: Yes, if the issuer would not be solvent, on
occurrence of a Capital Adequacy Event or
regulatory intervention as more fully described in
the prospectus.
Arrears of Interest: Cumulative and compounding. Deferred interest due
upon redemption, liquidation, distribution on or
repurchase of shares, Junior Securities or Parity
Securities as defined in the prospectus, all
subject to the MNPC not being met.
Early Redemption Events: Tax reasons, Capital Disqualification Event, Rating
Agency Event (only after first 5 years).
Early Redemption Price: Par
Listing: NYSE Euronext Amsterdam
Form & Denoms: Reg S Bearer / €100K + €1K
Governing Law: Dutch Law
ISIN: [•]
Sole Structuring Adviser: Rabobank International
Bookrunners: Barclays, Morgan Stanley, Rabobank International
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APPROX. YIELD AREA 9 %
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