Baosteel Group Corporation (Baosteel) successfully issued 2014 Exchangeable Bonds on December 12th, 2014, which was listed in Shanghai Stock Exchange on December 24th, 2014. This is the first public exchangeable bond in domestic market. In the transaction, Baosteel issued RMB 4 Billion Exchangeable Bonds with a tenor of 3 years. Bondholder shall have the right to exchange all or any of its bonds for New China Life Insurance Co., Ltd A-share. The initial exchange price is RMB 43.28 Yuan per share, which presents a 2.08% premium over the closing price of last trading day before announcement. The coupon is 1.50% per annum. CICC acted as Sole Sponsor, Lead Underwriter, Sole Book Runner, and Trustee.