plain vanilla listed bond

a debt security that: 

(1) is admitted to the official list;

(2) (where the issuer is an ESCC subsidiary) is unconditionally and irrevocably guaranteed by the issuer's parent undertaking that is an ESCC issuer;   

(3)  bears:

      (a) a fixed coupon rate, including where:

          (i) a set coupon rate (including a nil or zero rate) applies until maturity; or

          (ii) the coupon rate is a stepped coupon, being subject to pre-defined changes at fixed times prior to maturity; or

      (b) a floating or variable coupon, provided that:

          (i) the interest payable is determined by reference to:

              (A) the Bank of England official Bank Rate or any equivalent rate set by another central bank;

              (B) a benchmark or index that tracks the rate of UK inflation; 

              (C) the Sterling Overnight Index Average (SONIA), or any other equivalent risk-free reference rate in any currency; or

              (D) the Euro Interbank Offered Rate (EURIBOR),

                    with or without a spread reflecting the credit risk of the issuer; and

          (ii) the interest payable is not subject to any additional modification or structuring such as a cap or a floor other than zero;

(4)is unsubordinated, ranking equally with all other present and future unsubordinated indebtedness of the issuer in the form of bonds, notes, debentures, loan stock or other transferable securities; 

(5) is unsecured; 

(6) is not subject to a potential write-down or conversion as a result of a resolution authority exercising its powers; and 

(7) is not a convertible security, asset backed security or security giving rise to a payment or delivery obligation linked to an underlying asset or index (except those in (3)(b)(i)).