Banco Comercial Portugues

Capital/Financing Update • Apr 21, 2020

National Storage Mechanism | Additional information

RNS Number : 3227K

Banco Comercial Portugues, S.A.

21 April 2020

COMPANY ANNOUNCEMENT

For Immediate Release

BANCO COMERCIAL PORTUGUÊS, S.A.

(the "Issuer")

A publicly traded company ("sociedade aberta"), with registered office at Praça D. João I, 28, Porto and a share capital of 4,725,000,000.00 Euros, registered at the Commercial Registry Office of Porto, with number 501.525.882

€2,000,000,000 Floating Rate Covered Bonds due October 2020

(ISIN: PTBCQLOE0036)

(the "Covered Bonds")

issued by the Issuer

under its Euro 12,500,000,000 Covered Bonds Programme

(the "Programme")

AMENDMENTS OF TERMS

April 21, 2020

We make reference to the Covered Bonds. All terms and expressions used but not defined herein shall have the meanings attributed to them in the terms and conditions of the Covered Bonds as set out in the Base Prospectus dated June 29, 2012, the terms and conditions thereof having been incorporated into the Base Prospectus dated May 15, 2019, and the Final Terms dated August 21, 2012, as amended and restated on July 13, 2015, relating to the Covered Bonds.

The Issuer wishes to announce that the holder of the Covered Bonds resolved on this date to approve:

1.  The increase of the Aggregate Nominal Amount of the above identified issue from €2,000,000,000 to €4,000,000,000, by means of an increase of the Specified Denomination of each Covered Bond from €100,000 to €200,000;

2.  The amendment of the Maturity Date from October 23, 2020 to October 23, 2023;

3.  The amendment of the Extended Maturity Date from October 23, 2021 to October 23, 2024;

4.  The amendment of the Margin to Maturity Date from +0.5 per cent per annum to +0.75 per cent per annum; and

5.  The amendment of the Margin from Maturity Date up to Extended Maturity Date from +0.5 per cent per annum to +0.75 per cent per annum,

together, the "Amendments", which shall apply from the Interest Period beginning on the Interest Payment Date falling on April 23, 2020 (inclusive) onwards.

The Issuer gives notice to Euronext Dublin that the Final Terms dated August 21, 2012 as amended and restated on July 13, 2015, relating to the Covered Bonds shall be deemed to incorporate the Amendments.

For further information please contact:

Banco Comercial Português, S.A.

Taguspark - Avenida Prof Dr. Cavaco Silva, Edifício 2, Piso 2A

2740 - 256 Porto Salvo

Portugal

This announcement has been issued through the Companies Announcement Service of Euronext Dublin.

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