| Issuer / Guarantor | Nippon Steel Corp |
|---|---|
| Size | JPY 300000mn |
| Type | Convertible |
| Leads | Nomura, Goldman Sachs, BoA, SMBC Nikko, Morgan Stanley, Mizuho |
| Maturity | 14 Feb 2031 (4.9 years) |
| Coupon | 0% (0%) |
| Premium | 11% (11%) |
| Calls | @ 100% from Jun 2029 (3.3 yrs); 130% trigger |
| Puts | 2.5yrs @ 100% |
| Div protection | Ratio adjustment (Full) |
| T/o protection | Make-whole table |
| CoCo | None |
| Announced | 24 Feb 2026 |