Depository receipt measures with Russian underlying securities - Update


Note: This announcement, originally published on 6 April 2022 and updated on 12 April 2022, has been  further updated to add Deutsche Bank as DR agent. Changes have been highlighted.

Following announcement A22038 regarding the closure of DR agent’s books, Clearstream Banking1 has been in communication with some DR agents who aim to re-open their books for cancellation/conversion on DR Programs including Russian underlying securities; this announcement should be read in conjunction of the procedures published for Depository Receipts A22037 .

Clearstream Banking has received some announcements from JP Morgan, BNY-Mellon, Citibank and Deutsche Bank acting as DR agents who have re-opened their books for cancellation of depository receipts instruments with Russian underlying securities.

Cancellation fees charged by the DR agents may need to be paid upfront above a certain threshold. Should this be required, Clearstream Banking will, when processing your instruction, immediately debit your account and wire the payment to the DR agent.

Impact on customers

Clearstream Banking will update and advise customers of DR securities being re-opened via MT564.

Further information

For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.

1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG customers using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany, and registered in Register B of the Amtsgericht Frankfurt am Main, Germany, under number HRB 7500.