MANULIFE-S (00945) has priced its publicly issued subordinated notes in the United States.

MANULIFE-S (00945) announced that it has priced its public offering in the U.S. of senior notes with a principal amount of $750 million, an interest rate of 6.146%, maturing in 2041, at a public offering price of 100.000%. The proceeds from this note issuance are expected to be classified as the Companys Tier 2 capital. The notes are expected to be issued on September 11, 2026. From the issue date (inclusive) until September 11, 2036 (exclusive) (the Reset Date), the notes will bear interest at a fixed annual rate of 6.146%; from the Reset Date (inclusive) until September 11, 2041 (exclusive), the annual interest rate of the notes will be equal to the CMT rate determined on the third business day prior to the Reset Date, plus a spread of 1.350%. With the prior written approval of the Office of the Superintendent of Financial Institutions (OSFI), the Company may choose to redeem all or part of the notes at any time on or after September 11, 2031, but prior to the Reset Date, at a redemption price determined according to the applicable compensatory redemption price as set forth in the supplemental offering documents. With the prior written approval of OSFI, the Company may also redeem all (but not just part) of the notes in any of the following circumstances: (i) on the Reset Date; (ii) at any time within 90 days following a specified regulatory event; or (iii) at any time following a specified tax event. In all circumstances, the redemption price will be equal to 100% of the principal of the notes being redeemed, plus any accrued and unpaid interest up to (but not including) the redemption date.