Notice of Redemption
British American Tobacco p.l.c.
Incorporated in England and Wales
(Registration number: 03407696)
Short name: BATS
Share code: BTI
ISIN number: GB0002875804
NOTICE OF REDEMPTION
to the holders of
B.A.T. INTERNATIONAL FINANCE P.L.C.
3.500% Guaranteed Notes due 2022
CUSIP Numbers*: 05530QAL4; G08820CJ26
Common Code*: 124848997; 124849578
ISINs*: US05530QAL41; USG08820CJ26
REDEMPTION DATE: 8 NOVEMBER 2020
In accordance with Section 4 (Redemption) of the Notes and in accordance with Section
6(f) and Section 13 of the fiscal and paying agency agreement, dated as of 15 June 2015
and as amended, supplemented or otherwise modified (the “Fiscal and Paying Agency
Agreement”), the Issuer redeemed all of its outstanding Notes yesterday, 8 November
2020 (the “Redemption Date”). Citibank, N.A., London Branch acts as fiscal agent,
paying agent, transfer agent and registrar under the Notes.
The Redemption Price payment will be made in accordance with Section 4 (Redemption)
of the Notes and in accordance with Section 6(f) and Section 13 of the Fiscal and Paying
Agency Agreement. The Redemption Price will be equal to US$1,050.47 per US$1,000
principal amount, plus accrued and unpaid interest on the principal amount of the Notes
to be redeemed to the Redemption Date, which is equal to US$13.9028 per US$1,000
The Issuer will request from the Financial Conduct Authority the cancellation of the
listing of the Notes, which are listed on the Official List of the Financial Conduct
Authority and traded on the Professional Securities Market of the London Stock
Exchange plc. The cancellation of this listing will take effect on or around 11 November
Unless otherwise defined in this Notice, terms used in this Notice have the meanings
given to them in the Notes.
For and on behalf of
B.A.T. International Finance p.l.c.
9 November 2020
British American Tobacco Press Office: Lydia Meakin / Anna Vickerstaff
+44 (0) 20 7845 2888 (24 hours) | @BATPress
British American Tobacco Investor Relations: Mike Nightingale / Victoria Buxton /
William Houston / John Harney +44 (0) 20 7845 1180/2012/1138/1263
*These CUSIP numbers, Common Codes and ISINs are included solely for the
convenience of the holders. Neither the Company nor the Paying Agent shall be
responsible for the selection or use of any CUSIP number, Common Code or ISIN, nor is
any representation made as to its correctness or accuracy on any Note or as referred to in
any redemption notice.
Forward Looking Statements
This announcement contains certain forward-looking statements, including “forward-
looking” statements made within the meaning of Section 21E of the United States
Securities Exchange Act of 1934. These statements are often, but not always, made
through the use of words or phrases such as “believe,” “anticipate,” “could,” “may,”
“would,” “should,” “intend,” “plan,” “potential,” “predict,” “will,” “expect,” “estimate,”
“project,” “positioned,” “strategy,” “outlook”, “target” and similar expressions. These
include statements regarding our intentions, beliefs or current expectations concerning,
amongst other things, our results of operations, financial condition, liquidity, prospects,
growth, strategies and the economic and business circumstances occurring from time to
time in the countries and markets in which the Group operates.
All such forward-looking statements involve estimates and assumptions that are subject
to risks, uncertainties and other factors that could cause actual future financial condition,
performance and results to differ materially from the plans, goals, expectations and
results expressed in the forward-looking statements and other financial and/or statistical
data within this announcement. Among the key factors that could cause actual results to
differ materially from those projected in the forward-looking statements are uncertainties
related to the following: the impact of competition from illicit trade; the impact of
adverse domestic or international legislation and regulation; changes in domestic or
international tax laws and rates and the impact of an unfavourable ruling by a tax
authority in a disputed area; adverse litigation and dispute outcomes and the effect of
such outcomes on the Group’s financial condition; changes or differences in domestic or
international economic or political conditions; the impact of the COVID-19 pandemic;
adverse decisions by domestic or international regulatory bodies; the impact of market
size reduction and consumer down-trading; translational and transactional foreign
exchange rate exposure; the impact of serious injury, illness or death in the workplace;
the ability to maintain credit ratings and to fund the business under the current capital
structure; the inability to develop, commercialise and rollout New Categories; and
changes in the market position, businesses, financial condition, results of operations or
prospects of the Group.
It is believed that the expectations reflected in this announcement are reasonable but they
may be affected by a wide range of variables that could cause actual results to differ
materially from those currently anticipated. Past performance is no guide to future
performance and persons needing advice should consult an independent financial adviser.
The forward-looking statements reflect knowledge and information available at the date
of preparation of this announcement and the Group undertakes no obligation to update or
revise these forward-looking statements, whether as a result of new information, future
events or otherwise. Readers are cautioned not to place undue reliance on such forward-
No statement in this communication is intended to be a profit forecast and no statement in
this communication should be interpreted to mean that earnings per share of BAT for the
current or future financial years would necessarily match or exceed the historical
published earnings per share of BAT.
Additional information concerning these and other factors can be found in the Company’s
filings with the U.S. Securities and Exchange Commission (“SEC”), including the
Annual Report on Form 20-F filed on 26 March 2020 and Current Reports on Form 6-K,
which may be obtained free of charge at the SEC’s website, http://www.sec.gov, and the
Company’s Annual Reports, which may be obtained free of charge from the British
American Tobacco website www.bat.com.
Sponsor: UBS South Africa (Pty) Ltd
Date: 10-11-2020 07:05:00
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