If P&C Insurance Holding Ltd (Publ)
PROSPECTUS DATED 15 MARCH 2021 IF P&C INSURANCE HOLDING LTD (PUBL) (a company incorporated under the laws of Sweden with reg. no. 556241-7559) SEK 1,500,000,000 Floating Rate Dated Subordinated Notes Due June 2051 Issue price:100 per cent. The SEK 1,500,000,000 Floating Rate Dated Subordinated Notes (the "Notes") are issued by If P&C Insurance Holding Ltd (publ) (the "Issuer"). The Notes will bear interest on their principal amount from and including 17 March 2021 (the "Issue Date"), payable quarterly in arrear on 17 June, 17 September, 17 December and 17 March in each year at a rate of interest equal to STIBOR plus the applicable Margin, as more fully described herein. Terms used but not defined in this Prospectus shall have the same meaning as ascribed to them in the Conditions. All payments of interest and principal are conditional upon the Issuer being "Solvent" at the time of payment and immediately thereafter, as further described in "Terms and Conditions of the Notes – Status and Subordination". The Issuer has the right (and, in certain circumstances, is required) to defer the payment of interest in certain circumstances all as further described in "Terms and Conditions of the Notes — Deferral of Payments", and is required to suspend the payment of principal in certain circumstances all as further described in "Terms and Conditions of the Notes — Redemption, Purchase, Substitution and Variation — Issuer suspension of redemption date". The Notes will mature on the Interest Payment Date falling in June 2051 (the "Maturity Date") and the Issuer may, subject to the prior approval of the Issuer Supervisor (as defined in "Terms and Conditions of the Notes"), redeem the Notes at their principal amount together with any accrued interest and Arrears of Interest (as defined in "Terms and Conditions of the Notes") on any date from and including 17 March 2026 to and including 17 June 2026 and on any Interest Payment Date thereafter.
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