UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Form
6-K
REPORT
OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For
the month of June, 2021
Commission
File Number 001-14928
SANTANDER
UK PLC
(Translation
of registrant's name into English)
2
Triton Square, Regent’s
Place,
London NW1 3AN, England
(Address
of principal executive office)
Indicate
by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form
20-F . . . .☒. . . . Form 40-F . . . .☐. . . .
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
Santander
UK plc announces pricing of cash tender offers for two series of Notes
June
21, 2021 — Santander UK plc (the “Offeror”) announces today the pricing of its previously announced offers to purchase
for cash up to: (i) $546,913,000 of its outstanding $879,409,000 2.100% Notes due 2023; and (ii) $260,807,000 of its outstanding $567,879,000
2.875% Notes due 2024 (collectively, the “Notes” and such offers, the “Tender Offers”, and each, a “Tender
Offer”).
The
Offeror is making separate Tender Offers, each on the terms and subject to the conditions set forth in the offer to purchase dated June
7, 2021 (the “Offer to Purchase”). The Offer to Purchase is available, subject to eligibility confirmation and registration,
from the Tender Offers Website: https://deals.lucid-is.com/santander. Capitalized terms used in this announcement and not otherwise defined
have the meanings ascribed to them in the Offer to Purchase.
The
“Total Consideration” for each $1,000 principal amount of Notes tendered and accepted for purchase pursuant to
the applicable Tender Offers was determined in the manner described in the Offer to Purchase by reference to the sum of (i) the applicable
Reference Yield on the Reference U.S. Treasury Security and (ii) the applicable Fixed Spread for each series of Notes, all as set out
in the table below and as further described in the Offer to Purchase. The Reference Yield for each series of Notes was calculated at 10:00
a.m., New York City time, today, June 21, 2021, by the Dealer Managers.
Holders
of Notes validly tendered (and not validly withdrawn) at or prior to the Early Tender Time and accepted for purchase by the Offeror will
receive the Total Consideration, which includes an Early Tender Premium of $30 per $1,000 principal amount of such
Notes, together with accrued and unpaid interest from the last interest payment date for the Notes up to, but excluding, the Early Settlement
Date, which is currently anticipated to be June 22, 2021.
The
following table sets forth certain pricing information for the Tender Offers:
Title
of Notes
|
|
Issuer
|
|
Securities
Codes
|
|
Reference
U.S. Treasury Security
|
|
Reference
Yield
|
|
Fixed
Spread
(basis points)
|
|
Total
Consideration(1)(2)
|
|
Early
Tender
Premium(1)(2)
|
|
Tender
Offer
Consideration (2)
|
2.100%
Notes due 2023
|
|
Santander
UK plc
|
|
ISIN:
US80283LAY92
CUSIP:
80283LAY9
|
|
0.125%
U.S. Treasury Security due May 31, 2023
|
|
0.275%
|
|
10.00
|
|
$1,026.78
|
|
$30.00
|
|
$996.78
|
2.875%
Notes due 2024
|
|
Santander
UK plc
|
|
ISIN:
US80283LAX10
CUSIP:
80283LAX1
|
|
0.250%
U.S. Treasury Security due May 15, 2024
|
|
0.481%
|
|
25.00
|
|
$1,063.27
|
|
$30.00
|
|
$1,033.27
|
_____________________
(1) The
Total Consideration includes the Early Tender Premium.
(2) Per
$1,000 principal amount of Notes.
The
Offeror has retained J.P. Morgan Securities LLC and Santander Investment Securities Inc. to act as the Dealer Managers for the Tender
Offers and Lucid Issuer Services Limited to act as the Information and Tender Agent for the Tender Offers. Questions regarding procedures
for tendering Notes may be directed to Lucid Issuer Services Limited at +44 (0) 20 7704 0880 or by email at santander@lucid-is.com. Additionally,
the material relating to the Tender Offers is available at https://deals.lucid-is.com/santander. Questions regarding the Tender Offers
may be directed to (i) J.P. Morgan Securities LLC at (within the United States) +1 212 834 4045 (U.S. collect) or +1 (866) 834 4666 (U.S.
toll free) / (outside the United States) +44 207 134 2468 or by email to liability_management_EMEA@jpmorgan.com; and (ii) Santander Investment
Securities Inc. at +1 212 940 1442 (U.S. collect) or +1 855 404 3636 (U.S. toll free).This announcement is for informational purposes
only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security (including the Notes). No offer, solicitation,
or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful. The Tender Offers are only
being made pursuant to the Offer to Purchase. Holders are urged to carefully read the Offer to Purchase before making any decision with
respect to the Tender Offers.
The
distribution of this announcement in certain jurisdictions may be restricted by law. Persons into whose possession this announcement
comes are required by the Offeror, the Dealer Managers and the Information and Tender Agent to inform themselves about and to observe
any such restrictions.
Offer
and Distribution Restrictions
United
Kingdom
The
communication of this announcement is not being made, and has not been approved, by an authorised person for the purposes of section
21 of the Financial Services and Markets Act 2000.
This
announcement and the Offer to Purchase have been issued by Santander UK plc of 2 Triton Square, Regent’s Place, London NW1 3AN,
United Kingdom. Santander UK plc is authorised and regulated by the Financial Conduct Authority (the “FCA”) and the Prudential
Regulation Authority. This announcement and the Offer to Purchase is being distributed only to existing holders of the Notes, and is
only addressed to such existing Holders in the United Kingdom where they would (if they were clients of the Offeror) be per se
professional clients or per se eligible counterparties of the Offeror within the meaning of the FCA rules. This announcement and
the Offer to Purchase is not addressed to or directed at any persons who would be retail clients within the meaning of the FCA rules
and any such persons should not act or rely on it. Recipients of this announcement and the Offer to Purchase should note that the Offeror
is acting on its own account in relation to the Tender Offers and will not be responsible to any other person for providing the protections
which would be afforded to clients of the Offeror or for providing advice in relation to the Tender Offers.
In
addition, the communication of this announcement, the Offer to Purchase and any other documents or materials relating to the Tender Offers
is not being made and such documents and/or materials have not been approved by an authorised person for the purposes of section 21 of
the Financial Services and Markets Act 2000. Accordingly, this announcement, the Offer to Purchase and such documents and/or materials
are not being distributed to, and must not be passed on to, persons in the United Kingdom other than (i) to those persons in the United
Kingdom falling within the definition of investment professionals (as defined in Article 19(5) of the Financial Services and Markets
Act 2000 (Financial Promotion) Order 2005 (the “Financial Promotion Order”)), (ii) to those persons who are within Article
43(2) of the Financial Promotion Order, including existing members and creditors of the Offeror, (iii) to those persons who are outside
the United Kingdom, or (iv) to any other persons to whom it may otherwise lawfully be made under the Financial Promotion Order (all such
persons together being referred to as “Relevant Persons”) and the transactions contemplated herein will be available only
to, and engaged in only with, Relevant Persons. Any person who is not a Relevant Person should not act on or rely on this announcement,
the Offer to Purchase or any of its contents.
France
The
Tender Offers are not being made, directly or indirectly, to the public in France. None of the announcement, the Offer to Purchase or
any other documents or offering materials relating to the Tender Offers, has been or shall be distributed to the public in France and
only qualified investors (as defined in Article 2(e) of Regulation (EU) 2017/1129) are eligible to participate in the Tender Offers.
This announcement has not been submitted to the clearance procedures (visa) of the Autorité des marchés financiers.
Italy
None
of this announcement, the Offer to Purchase or any other document or materials relating to the Tender Offers have been or will be submitted
to the clearance procedures of the Commissione Nazionale per le Società e la Borsa (“CONSOB”) pursuant to Italian
laws and regulations. The Tender Offers are being carried out in Italy as exempted offers pursuant to article 101-bis, paragraph 3-bis
of the Legislative Decree No. 58 of 24 February 1998, as amended (the “Financial Services Act”) and article 35-bis, paragraph
4 of CONSOB Regulation No. 11971 of 14 May 1999, as amended. Holders or beneficial owners of the Notes that are resident and/or located
in Italy can tender Notes for purchase in the Tender Offers through authorised persons (such as investment firms, banks or financial
intermediaries permitted to conduct such activities in the Republic of Italy in accordance with the Financial Services Act, CONSOB Regulation
No. 20307 of 15 February 2018, as amended, and Legislative Decree No. 385 of September 1, 1993, as amended) and in compliance with any
other applicable laws and regulations and with any requirements imposed by CONSOB and any other Italian authority.
Each
intermediary must comply with the applicable laws and regulations concerning information duties vis-à-vis its clients in
connection with the Notes or the Tender Offers.
General
This
announcement does not constitute an offer to buy or the solicitation of an offer to sell Notes, and tenders of Notes in the Tender Offers
will not be accepted from Holders, in any circumstances in which such offer or solicitation is unlawful. In those jurisdictions where
the securities, blue sky or other laws require the Tender Offers to be made by a licensed broker or dealer and either of the Dealer Managers
or either of the Dealer Managers’ respective affiliates is such a licensed broker or dealer in any such jurisdiction, the Tender
Offers shall be deemed to be made by such Dealer Manager or affiliate, as the case may be, on behalf of the Offeror in such jurisdiction.
Forward-Looking
Information
This
announcement contains certain forward-looking statements that reflect the Offeror’s intent, beliefs or current expectations about
the future and can be recognized by the use of words such as “expects,” “will,” “anticipate,” or
words of similar meaning. These forward-looking statements are not guarantees of any future performance and are necessarily estimates
reflecting the best judgment of the senior management of the Offeror and involve a number of risks and uncertainties that could cause
actual results to differ materially from those suggested by the forward-looking statements. As a consequence, these forward-looking statements
should be considered in light of various important factors that could cause actual results to differ materially from estimates or projections
contained in the forward-looking statements, which include, without limitation, the risk factors set forth in the Offer to Purchase.
The Offeror cannot guarantee that any forward-looking statement will be realized, although it believes it has been prudent in its plans
and assumptions. Achievement of future results is subject to risks, uncertainties and assumptions that may prove to be inaccurate. Should
known or unknown risks or uncertainties materialize, or should underlying assumptions prove inaccurate, actual results could vary materially
from those anticipated, estimated or projected. The Offeror undertakes no obligation to update publicly or release any revisions to these
forward-looking statements to reflect events or circumstances or to reflect the occurrence of unanticipated events, except as required
by applicable law.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
|
SANTANDER
UK PLC
|
|
|
|
By:
|
/s/ Rebecca Nind
|
|
|
Name:
|
Rebecca Nind
|
|
Title:
|
Authorized Signatory
|
Date:
June 21, 2021
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