{"id":765589,"date":"2023-06-22T16:18:24","date_gmt":"2023-06-22T20:18:24","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/replacement-reference-rate-for-u-s-law-governed-u-s-dollar-libor-linked-preferred-stock-and-debt-securities\/"},"modified":"2023-06-22T16:18:24","modified_gmt":"2023-06-22T20:18:24","slug":"replacement-reference-rate-for-u-s-law-governed-u-s-dollar-libor-linked-preferred-stock-and-debt-securities","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/replacement-reference-rate-for-u-s-law-governed-u-s-dollar-libor-linked-preferred-stock-and-debt-securities\/","title":{"rendered":"Replacement Reference Rate for U.S. Law-Governed U.S. Dollar LIBOR-Linked Preferred Stock and Debt Securities"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwblockalignl { margin-left: 0px; margin-right: auto }\n.bwcellpmargin { margin-bottom: 0px; margin-top: 0px }\n.bwpadl0 { padding-left: 0px }\n.bwtablemarginb { margin-bottom: 10px }\n.bwuline { text-decoration: underline }\n.bwvertalignm { vertical-align: middle }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Replacement Reference Rate for U.S. Law-Governed U.S. Dollar LIBOR-Linked Preferred Stock and Debt Securities<\/b><\/p>\n<p>NEW YORK&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nMetLife, Inc. (NYSE: MET) is issuing this press release to advise that the three-month U.S. dollar LIBOR in the U.S. law-governed U.S. dollar LIBOR-linked preferred stock and debt securities specified below (the \u201cSpecified Instruments\u201d) issued by MetLife, Inc. (\u201cMetLife\u201d) and MetLife Capital Trust IV, as applicable, will be replaced with the CME Term SOFR Reference Rate published for a three-month tenor plus a spread adjustment of 0.26161%, effective for determinations made under the terms of the Specified Instruments after June 30, 2023 (the \u201cCessation Date\u201d), when the relevant U.S. dollar LIBOR settings are expected to either cease publication or no longer be representative but will not affect any determinations made on or prior to the Cessation Date.\n<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td colspan=\"2\" class=\"bwpadl0 bwvertalignm\" rowspan=\"1\">\n<p class=\"bwcellpmargin\"><b>MetLife Issued Preferred Stock<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"bwpadl0\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>CUSIP<\/b><\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Description<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignm\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n59156R504*\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nFloating Rate Non-Cumulative Preferred Stock, Series A\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n59156RBT4*\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nFixed-to-Floating Rate Non-Cumulative Preferred Stock, Series D\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"bwpadl0 bwvertalignm\" rowspan=\"1\">\n<p class=\"bwcellpmargin\"><b>MetLife and MetLife Capital Trust IV Issued Debt Securities<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"bwpadl0 bwvertalignm\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>CUSIP<\/b><\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Description<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignm\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n59156RAP3*\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nMetLife Fixed-to-Floating Rate Junior Subordinated Debentures due 2066\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n591560AA5*\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nMetLife Capital Trust IV Fixed-to Floating Rate Exchangeable Surplus Trust Securities exchangeable under certain circumstances into a like amount of MetLife Fixed-to-Floating Rate Junior Subordinated Debentures due 2067\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n59156RBS6*\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nMetLife Fixed-to-Floating Rate Junior Subordinated Debentures due 2068\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n59156RAV0*\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nMetLife Fixed-to-Floating Rate Junior Subordinated Debentures due 2069\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"bwpadl0\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n* The CUSIP number is included solely for the convenience of the holders of the Specified Instruments. No paying agent, trustee or transfer agent shall be responsible for the selection or use of the CUSIP number, nor is any representation made as to its correctness on the Specified Instruments or as indicated in this press release.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><span class=\"bwuline\">About MetLife<\/span><\/p>\n<p>\nMetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (\u201cMetLife\u201d), is one of the world\u2019s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help individual and institutional customers build a more confident future. Founded in 1868, MetLife has operations in more than 40 markets globally and holds leading positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.metlife.com&amp;esheet=53428661&amp;newsitemid=20230622269196&amp;lan=en-US&amp;anchor=www.metlife.com&amp;index=1&amp;md5=fca3639dc550c486b6d170b9d44e022b\">www.metlife.com<\/a>.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230622269196r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20230622269196\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230622269196\/en\/<\/a><\/span><\/p>\n<p><b>For Media:<br \/>\n<\/b><br \/>Brian Blaser<br \/>\n<br \/>212-578-2415<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:bblaser@metlife.com\">bblaser@metlife.com<\/a><\/p>\n<p><b>For Investors:<br \/>\n<\/b><br \/>John Hall<br \/>\n<br \/>212-578-7888<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:John.A.Hall@metlife.com\">John.A.Hall@metlife.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> New York United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Professional Services Insurance Finance<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20230622269196\/en\/550710\/3\/ML_LOGO_RGB_FINAL_TEMP_100316.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Replacement Reference Rate for U.S. Law-Governed U.S. Dollar LIBOR-Linked Preferred Stock and Debt Securities NEW YORK&#8211;(BUSINESS WIRE)&#8211; MetLife, Inc. (NYSE: MET) is issuing this press release to advise that the three-month U.S. dollar LIBOR in the U.S. law-governed U.S. dollar LIBOR-linked preferred stock and debt securities specified below (the \u201cSpecified Instruments\u201d) issued by MetLife, Inc. (\u201cMetLife\u201d) and MetLife Capital Trust IV, as applicable, will be replaced with the CME Term SOFR Reference Rate published for a three-month tenor plus a spread adjustment of 0.26161%, effective for determinations made under the terms of the Specified Instruments after June 30, 2023 (the \u201cCessation Date\u201d), when the relevant U.S. dollar LIBOR settings are expected to either cease publication or no longer be representative &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/replacement-reference-rate-for-u-s-law-governed-u-s-dollar-libor-linked-preferred-stock-and-debt-securities\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Replacement Reference Rate for U.S. Law-Governed U.S. Dollar LIBOR-Linked Preferred Stock and Debt Securities&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-765589","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Replacement Reference Rate for U.S. Law-Governed U.S. Dollar LIBOR-Linked Preferred Stock and Debt Securities - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/replacement-reference-rate-for-u-s-law-governed-u-s-dollar-libor-linked-preferred-stock-and-debt-securities\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Replacement Reference Rate for U.S. Law-Governed U.S. Dollar LIBOR-Linked Preferred Stock and Debt Securities - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Replacement Reference Rate for U.S. Law-Governed U.S. Dollar LIBOR-Linked Preferred Stock and Debt Securities NEW YORK&#8211;(BUSINESS WIRE)&#8211; MetLife, Inc. (NYSE: MET) is issuing this press release to advise that the three-month U.S. dollar LIBOR in the U.S. law-governed U.S. dollar LIBOR-linked preferred stock and debt securities specified below (the \u201cSpecified Instruments\u201d) issued by MetLife, Inc. (\u201cMetLife\u201d) and MetLife Capital Trust IV, as applicable, will be replaced with the CME Term SOFR Reference Rate published for a three-month tenor plus a spread adjustment of 0.26161%, effective for determinations made under the terms of the Specified Instruments after June 30, 2023 (the \u201cCessation Date\u201d), when the relevant U.S. dollar LIBOR settings are expected to either cease publication or no longer be representative &hellip; Continue reading &quot;Replacement Reference Rate for U.S. Law-Governed U.S. Dollar LIBOR-Linked Preferred Stock and Debt Securities&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/replacement-reference-rate-for-u-s-law-governed-u-s-dollar-libor-linked-preferred-stock-and-debt-securities\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-22T20:18:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230622269196r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/replacement-reference-rate-for-u-s-law-governed-u-s-dollar-libor-linked-preferred-stock-and-debt-securities\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/replacement-reference-rate-for-u-s-law-governed-u-s-dollar-libor-linked-preferred-stock-and-debt-securities\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Replacement Reference Rate for U.S. Law-Governed U.S. Dollar LIBOR-Linked Preferred Stock and Debt Securities\",\"datePublished\":\"2023-06-22T20:18:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/replacement-reference-rate-for-u-s-law-governed-u-s-dollar-libor-linked-preferred-stock-and-debt-securities\\\/\"},\"wordCount\":418,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/replacement-reference-rate-for-u-s-law-governed-u-s-dollar-libor-linked-preferred-stock-and-debt-securities\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20230622269196r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/replacement-reference-rate-for-u-s-law-governed-u-s-dollar-libor-linked-preferred-stock-and-debt-securities\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/replacement-reference-rate-for-u-s-law-governed-u-s-dollar-libor-linked-preferred-stock-and-debt-securities\\\/\",\"name\":\"Replacement Reference Rate for U.S. Law-Governed U.S. Dollar LIBOR-Linked Preferred Stock and Debt Securities - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/replacement-reference-rate-for-u-s-law-governed-u-s-dollar-libor-linked-preferred-stock-and-debt-securities\/","og_locale":"en_US","og_type":"article","og_title":"Replacement Reference Rate for U.S. Law-Governed U.S. Dollar LIBOR-Linked Preferred Stock and Debt Securities - Market Newsdesk","og_description":"Replacement Reference Rate for U.S. Law-Governed U.S. Dollar LIBOR-Linked Preferred Stock and Debt Securities NEW YORK&#8211;(BUSINESS WIRE)&#8211; MetLife, Inc. (NYSE: MET) is issuing this press release to advise that the three-month U.S. dollar LIBOR in the U.S. law-governed U.S. dollar LIBOR-linked preferred stock and debt securities specified below (the \u201cSpecified Instruments\u201d) issued by MetLife, Inc. (\u201cMetLife\u201d) and MetLife Capital Trust IV, as applicable, will be replaced with the CME Term SOFR Reference Rate published for a three-month tenor plus a spread adjustment of 0.26161%, effective for determinations made under the terms of the Specified Instruments after June 30, 2023 (the \u201cCessation Date\u201d), when the relevant U.S. dollar LIBOR settings are expected to either cease publication or no longer be representative &hellip; Continue reading \"Replacement Reference Rate for U.S. Law-Governed U.S. Dollar LIBOR-Linked Preferred Stock and Debt Securities\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/replacement-reference-rate-for-u-s-law-governed-u-s-dollar-libor-linked-preferred-stock-and-debt-securities\/","og_site_name":"Market Newsdesk","article_published_time":"2023-06-22T20:18:24+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230622269196r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/replacement-reference-rate-for-u-s-law-governed-u-s-dollar-libor-linked-preferred-stock-and-debt-securities\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/replacement-reference-rate-for-u-s-law-governed-u-s-dollar-libor-linked-preferred-stock-and-debt-securities\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Replacement Reference Rate for U.S. Law-Governed U.S. Dollar LIBOR-Linked Preferred Stock and Debt Securities","datePublished":"2023-06-22T20:18:24+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/replacement-reference-rate-for-u-s-law-governed-u-s-dollar-libor-linked-preferred-stock-and-debt-securities\/"},"wordCount":418,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/replacement-reference-rate-for-u-s-law-governed-u-s-dollar-libor-linked-preferred-stock-and-debt-securities\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230622269196r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/replacement-reference-rate-for-u-s-law-governed-u-s-dollar-libor-linked-preferred-stock-and-debt-securities\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/replacement-reference-rate-for-u-s-law-governed-u-s-dollar-libor-linked-preferred-stock-and-debt-securities\/","name":"Replacement Reference Rate for U.S. Law-Governed U.S. Dollar LIBOR-Linked Preferred Stock and Debt Securities - 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