These are the details of the selected bond:
- Issuer: Nationwide Building Society
- Covered bond rating(s) at launch: AAA (S&P) AAA (Fitch)
- Amount: GBP500m
- Maturity date: 21 October 2030
- Re-offer price: 99.544
- Coupon: 4.125%
- Swap spread: 50bp
- Government spread: 26.9bp
- Pricing date: 14 October 2025
- Settlement date: 21 October 2025
- Bookrunners: BMO, Lloyds, Nomura, Santander
- Country: UK
- ISIN: XS3212538907
- Collateral type: Mortgage
- The CBR bond ID: 3232
- Green, social, sustainability description: unlabelled