Jiujie Financial News, China Industrial and Commercial Bank of China Co., Ltd. (Industrial and Commercial Bank of China Limited, referred to as "Industrial and Commercial Bank of China", 01398.HKMagne601398.SH)Moody's Corporation: A1 stable, S & P: a stable, Fitch: a stable) the proposed issuance of Reg S, dollar-denominated, non-fixed-date Basel III AT1 capital bonds. (IPG)

The terms are as follows:

Issuer: China Industrial and Commercial Bank of China Co., Ltd.

Issue: Basel III-compliant AT1 capital bonds with no fixed date

Issuer rating: Moody's Corporation: A1 stable, S & P: a stable, Fitch: a stable

Expected issue rating: Ba1 (Moody's Corporation)

Priority: subordinate to depositors, general creditors, T2 capital instrument holders and any other subordinated debt holders that take precedence over the bond; holders of superior equity; and any other AT1 capital instrument bondholders who have the same status as the bond.

Release rules: Reg S

Issue size: dollar benchmark size

Term: PNC5

Initial guidance price: 3.650% area

First reset date: September 24, 2026

Delivery date: September 24, 2021

Use of funds: according to relevant regulatory requirements, net income will be included in the bank's AT1 capital

Other provisions: Hong Kong Exchanges and Clearing listing; minimum denomination / increment of US $200000 / US $1000; English law (but secondary provisions are governed by the laws of the people's Republic of China)

Clearing house: European Bank for Clearing / Mingxun Bank

Exclusive financial adviser: ICBC (Asia)

Joint global coordinator, joint bookrunner and joint lead manager: ICBC (Asia), Citigroup Inc, HSBC, JPMorgan Chase & Co and Mizuho Securities

Joint bookrunner and co-lead manager: bank of China International, Commerzbank, Oriental Management, ICBC Standard, French Foreign Trade Bank and UBS Group