44KM Bos(shd)n2.a-bk

TIDM44KM

RNS Number : 1539Z

BOS (Shared Appreciation Mrtg) No.2

19 May 2021

THIS ANNOUNCEMENT IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION OF NOTEHOLDERS. IF NOTEHOLDERS ARE IN ANY DOUBT AS TO THE ACTION THEY SHOULD TAKE THEY SHOULD CONSULT THEIR OWN INDEPENDENT PROFESSIONAL ADVISERS AUTHORISED UNDER THE FINANCIAL SERVICES AND MARKETS ACT 2000, AS AMENDED (IF THEY ARE LOCATED IN THE UNITED KINGDOM) OR OTHER APPROPRIATELY AUTHORISED INDEPENDENT PROFESSIONAL ADVISERS (IF THEY ARE LOCATED OUTSIDE OF THE UNITED KINGDOM).

THIS ANNOUNCEMENT CONTAINS IMPORTANT INFORMATION OF INTEREST TO THE REGISTERED AND BENEFICIAL OWNERS OF THE NOTES. IF APPLICABLE, ALL DEPOSITORIES, CUSTODIANS AND OTHER INTERMEDIARIES RECEIVING THIS ANNOUNCEMENT ARE REQUIRED TO EXPEDITE TRANSMISSION HEREOF TO BENEFICIAL OWNERS OF THE NOTES IN A TIMELY MANNER. IF BENEFICIAL OWNERS OF THE NOTES ARE IN ANY DOUBT AS TO THE MATTERS REFERRED TO IN THIS ANNOUNCEMENT, THEY SHOULD CONSULT THEIR STOCKBROKER, LAWYER, ACCOUNTANT OR OTHER PROFESSIONAL ADVISER.

INTENTION TO EXPLORE LIBOR TRANSITION

TO THE HOLDERS OF THE

GBP105,600,000 Asset Backed Notes due 2072

(the "Notes")

issued by

BOS (SHARED APPRECIATION MORTGAGES) NO. 2 PLC

the "Issuer"

on 19 May 2021

The Issuer refers to the trust deed dated 25 July 1997 constituting the Notes and containing the terms and conditions applicable thereto (as the same may be amended, amended and restated and/or supplemented from time to time) (the "Trust Deed"). Capitalised terms used but not otherwise defined in this announcement have the same meanings and constructions ascribed to them in the Trust Deed (including by incorporation).

The Issuer wishes to announce that it is exploring the transitioning of certain elements used for calculations under the Notes from GBP LIBOR to the Bank of England administered benchmark interest rate SONIA.

Lloyds Bank Corporate Markets plc is assisting the Issuer in this exercise and is seeking to engage with the holders of the Notes in order to receive feedback on the potential options to effect such changes, noting that such feedback will not bind the Issuer or holders of the Notes. In the event the Issuer determines to seek formal consent to amendments to the terms of the Notes to effect any changes to the calculations relating to the Notes, the Issuer will seek consent from Noteholders in accordance with the terms of the Trust Deed.

This announcement is for information purposes only and does not constitute notice in accordance with Condition 14 of the Notes.

Noteholders seeking further information should contact:

The Solicitation Agent

Lloyds Bank Corporate Markets plc

   Email:               liability.management@lloydsbanking.com 
   Telephone:        + 44 (0) 20 7158 1719/2720 
   Attention:          Liability Management Team 

BOS (SHARED APPRECIATION MORTGAGES) NO.2 PLC

Registered Address: Trinity Road, Halifax, HX1 2RG

DISCLAIMER

For the avoidance of doubt, nothing in this announcement constitutes or should be construed as constituting an offer to sell, or a solicitation of an offer to buy, any securities in any jurisdiction or an offer to modify the terms and conditions of any securities, including the Notes.

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END

MSCGZGMKGLKGMZM

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May 19, 2021 06:09 ET (10:09 GMT)

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