OneSavings Bank plc - Redemption of £22,000,000 Perpetual Subordinated Bonds

LEI: 213800WTQKOQI8ELD692

Date: 4 August 2021

OneSavings Bank plc
(the “Company”)

Redemption by the Company of £22,000,000 Perpetual Subordinated Bonds (ISIN: GB00B61ZXL72 (the "Bonds"))

The Company has today posted a notice to the holders of the Bonds informing them that it will fully redeem the outstanding Bonds on 7 September 2021 (the “Redemption Date”) in accordance with the terms and conditions of the Bonds (the “Conditions”) (the “Notice”). The Bonds will be redeemed at 100 per cent. of their principal amount together with accrued interest. Pursuant to the Conditions, the Notice will be deemed to have been given to all Bondholders on 6 August 2021.

Following redemption, the Bonds will be cancelled pursuant to the Conditions. Accordingly, the listing of the Bonds on the Official List of the Financial Conduct Authority and the admission of the Notes to trading on the Main Market of the London Stock Exchange will be cancelled on, or shortly after, 9 September 2021.

Enquiries:

OneSavings Bank plc

Alastair Pate t: +44 0771 418 1864
Group Head of Investor Relations

Jens Bech
Group Commercial Director t: +44 0774 024 7473

Brunswick
Robin Wrench/Simone Selzer t: +44 020 7404 5959

Notes to Editors

About OSB GROUP PLC

OneSavings Bank plc (OSB) began trading as a bank on 1 February 2011 and was admitted to the main market of the London Stock Exchange in June 2014 (OSB.L). OSB joined the FTSE 250 index in June 2015. On 4 October 2019, OSB acquired Charter Court Financial Services Group plc (CCFS) and its subsidiary businesses. On 30 November 2020, OSB GROUP PLC became the listed entity and holding company for the OSB Group. OSB is a specialist lender and retail savings provider authorised by the Prudential Regulation Authority, part of the Bank of England, and regulated by the Financial Conduct Authority and Prudential Regulation Authority. The OSB Group reports under two segments, OneSavings Bank and Charter Court Financial Services.

OneSavings Bank

OneSavings Bank primarily targets market sub-sectors that offer high growth potential and attractive risk-adjusted returns in which it can take a leading position and where it has established expertise, platforms and capabilities. These include private rented sector Buy-to-Let, commercial and semi-commercial mortgages, residential development finance, bespoke and specialist residential lending, secured funding lines and asset finance.

OSB originates mortgages organically via specialist brokers and independent financial advisers through its specialist brands including Kent Reliance for Intermediaries and InterBay Commercial. It is differentiated through its use of highly skilled, bespoke underwriting and efficient operating model.

OSB is predominantly funded by retail savings originated through the long-established Kent Reliance brand, which includes online and postal channels as well as a network of branches in the South East of England. Diversification of funding is currently provided by securitisation programmes, the Bank of England’s Term Funding Scheme and Term Funding Scheme for SMEs.

Charter Court Financial Services (CCFS)

CCFS focuses on providing Buy-to-Let and specialist residential mortgages, mortgage servicing, administration and retail savings products. It operates through its brands: Precise Mortgages and Charter Savings Bank.

It is differentiated through risk management expertise and best-of-breed automated technology and systems, ensuring efficient processing, strong credit and collateral risk control and speed of product development and innovation. These factors have enabled strong balance sheet growth whilst maintaining high credit quality mortgage assets.

CCFS is predominantly funded by retail savings originated through its Charter Savings Bank brand. Diversification of funding is provided by securitisation programmes and the Bank of England funding schemes including, the Term Funding Scheme and the Term Funding Scheme for SMEs.