Slaughter and May advised Legal & General Group Plc on its issuance of £600 million Fixed Rate Reset Subordinated Notes due 2045 pursuant to its £3 billion Euro Note Programme. The Notes bear interest at the rate of 5.375 per cent. per annum until 27 October 2025. On such date and thereafter on each reset date, the interest rate shall be reset by reference to a reference bond rate.

Barclays Bank, Deutsche Bank, J.P. Morgan Securities and Merrill Lynch International acted as joint lead managers.

CONTACTS

Richard Jones (partner) and Andrew Chaplin (associate).