The Prospectus Directive and the debt capital markets—prospectus format and contents [Archived]
The Prospectus Directive and the debt capital markets—prospectus format and contents [Archived]

The following Banking & Finance guidance note provides comprehensive and up to date legal information covering:

  • The Prospectus Directive and the debt capital markets—prospectus format and contents [Archived]
  • Background
  • General information requirement
  • Format
  • Content
  • Further requirements for base prospectuses and final terms
  • Further requirements for summaries
  • Incorporation by reference
  • Order
  • Supplements
  • more

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be treated by the EU as a Member State for many purposes. As a third country, the UK can no longer participate in the EU’s political institutions, agencies, offices, bodies and governance structures (except to the limited extent agreed), but the UK must continue to adhere to its obligations under EU law (including EU treaties, legislation, principles and international agreements) and submit to the continuing jurisdiction of the Court of Justice of the European Union in accordance with the transitional arrangements in Part 4 of the Withdrawal Agreement. For further reading, see: Brexit—introduction to the Withdrawal Agreement. This has an impact on this Practice Note. For guidance, see Practice Note: Brexit—impact on finance transactions—Brexit planning and impact—key issues for debt capital markets transactions and Brexit—impact on finance transactions—Derivatives and debt capital markets transactions—key SIs.

ARCHIVED: This archived Practice Note is not maintained and is for background information only. For more information, see Practice Note: The Prospectus Regulation—approval of prospectuses and single passport.

Background

The Prospectus Directive 2003/71/EC (PD) was adopted in 2003 and implemented into national law across the European Economic Area (EEA) in 2005. The stated aim of the PD