21 February
2025
NOTICE OF
ISSUER CALL
British Telecommunications
public limited company
(LEI:
549300OWFMSO9NYV4H90)
£250,000,000 3.50 per cent.
Index-Linked Notes due 2025 (the "Notes")
(ISIN:
XS0110081782)
issued under its Euro Medium
Term Note Programme
NOTICE IS HEREBY
GIVEN by British Telecommunications
public limited company (the "Issuer") that the Notes will be fully
redeemed by the Issuer on 24 March 2025 (the "Optional Redemption Date"), in
accordance with Condition 5(c) (Redemption at the Option of the Issuer
(Issuer Call)) of the terms and conditions of the Notes as
amended by paragraph 5 of the Appendix to the Pricing Supplement
dated 20 April 2000 relating to the issue of the Notes
(together, the "Issuer Call
Conditions"). The Notes will be redeemed on the Optional
Redemption Date at the Optional Redemption Amount calculated by
HSBC Bank plc (the "Calculation
Agent") as set out in the Issuer Call Conditions.
The Calculation Agent has determined
in accordance with the Issuer Call Conditions that the Optional
Redemption Amount in respect of the Notes is £2,357.03 per minimum
Specified Denomination of £1,000.
Payment of the Optional Redemption
Amount, together with interest accrued from, and including, 25
October 2024 to, but excluding, the Optional Redemption Date, will
be made on the Optional Redemption Date through Euroclear Bank
SA/NV and Clearstream Banking S.A. Accordingly, any interest in
respect of the Notes shall cease to accrue on and after the
Optional Redemption Date. The listing of the Notes on the
Financial Conduct Authority's Official List and
the admission of the Notes to trading on the London Stock
Exchange's main market will be cancelled on, or around, 24 March
2025.
Terms used in this notice and not
defined herein shall have the same meaning given to them in the
Issuer Call Conditions.
Further information
The Issuer has exercised its call
option to redeem the Notes as part of its liquidity and balance
sheet management. The redemption will be funded by existing cash
resources.
Questions regarding this Notice of
Issuer Call should be directed to the Issuer at:
British Telecommunications public
limited company
1 Braham Street
London E1 8EE
For the attention of: Andrew Binnie
(Group Treasury Director)
This announcement is released by
British Telecommunications public limited company and contains
information that qualified or may have qualified as inside
information for the purposes of Article 7 of the Market Abuse
Regulation (EU) 596/2014 as it forms part of domestic law by virtue
of the European Union (Withdrawal) Act 2018 ("UK MAR"). For the purposes of the UK
MAR and Article 2 of Commission Implementing Regulation (EU)
2016/1055 as it forms part of domestic law by virtue of the
European Union (Withdrawal) Act 2018, this announcement is made by
Andrew Binnie, Group Treasury Director of British
Telecommunications public limited company.
