EX-25.1 5 nt10013636x1_ex25-1.htm EXHIBIT 25.1

Exhibit 25.1


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

FORM T-1

STATEMENT OF ELIGIBILITY
UNDER THE TRUST INDENTURE ACT OF 1939 OF A
CORPORATION DESIGNATED TO ACT AS TRUSTEE

CHECK IF AN APPLICATION TO DETERMINE
ELIGIBILITY OF A TRUSTEE PURSUANT TO
SECTION 305(b)(2)           |__|



THE BANK OF NEW YORK MELLON
TRUST COMPANY, N.A.
(Exact name of trustee as specified in its charter)

 
 
(Jurisdiction of incorporation
 if not a U.S. national bank)
95-3571558
(I.R.S. employer
 identification no.)
     
 
400 South Hope Street
Suite 500
Los Angeles, California
(Address of principal executive offices)
 

90071
(Zip code)
     



Otis Worldwide Corporation
(Exact name of obligor as specified in its charter)

 
Delaware
(State or other jurisdiction of
incorporation or organization)
83-3789412
(I.R.S. employer
identification no.)
     
 
One Carrier Place
Farmington, Connecticut
(Address of principal executive offices)
 
06032
(Zip code)
     




2.056% Notes due 2025
2.293% Notes due 2027
2.565% Notes due 2030
 3.112% Notes due 2040
3.362% Notes due 2050
and Floating Rate Notes due 2023
(Title of the indenture securities)






1.          General information.  Furnish the following information as to the trustee:


(a)
Name and address of each examining or supervising authority to which it is subject.

Name
Address
Comptroller of the Currency
 United States Department of the Treasury
 
Washington, DC 20219
Federal Reserve Bank
San Francisco, CA 94105
 
Federal Deposit Insurance Corporation
 
Washington, DC 20429


 (b)
Whether it is authorized to exercise corporate trust powers.

Yes.

2.
Affiliations with Obligor.

If the obligor is an affiliate of the trustee, describe each such affiliation.

None.

16.
List of Exhibits.

Exhibits identified in parentheses below, on file with the Commission, are incorporated herein by reference as an exhibit hereto, pursuant to Rule 7a‑29 under the Trust Indenture Act of 1939 (the "Act").


1.
A copy of the articles of association of The Bank of New York Mellon Trust Company, N.A., formerly known as The Bank of New York Trust Company, N.A. (Exhibit 1 to Form T-1 filed with Registration Statement No. 333-121948 and Exhibit 1 to Form T-1 filed with Registration Statement No. 333-152875).


2.
A copy of certificate of authority of the trustee to commence business. (Exhibit 2 to Form T-1 filed with Registration Statement No. 333-121948).



3.
A copy of the authorization of the trustee to exercise corporate trust powers (Exhibit 3 to Form T-1 filed with Registration Statement No. 333-152875).


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4.
A copy of the existing by-laws of the trustee (Exhibit 4 to Form T-1 filed with Registration Statement No. 333-229762).


6.
The consent of the trustee required by Section 321(b) of the Act (Exhibit 6 to Form T-1 filed with Registration Statement No. 333-152875).


7.
A copy of the latest report of condition of the Trustee published pursuant to law or to the requirements of its supervising or examining authority.


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SIGNATURE

Pursuant to the requirements of the Act, the Trustee, The Bank of New York Mellon Trust Company, N.A., a banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Chicago, and State of Illinois, on the 20th day of July, 2020.


 
THE BANK OF NEW YORK
MELLON TRUST COMPANY, N.A.
     

By:
/s/         Lawrence M. Kusch
    Name:  Lawrence M. Kusch
    Title:    Vice President
     



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Exhibit 7


Consolidated Report of Condition of
THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.
of 400 South Hope Street, Suite 500, Los Angeles, CA 90071

At the close of business March 31, 2020, published in accordance with Federal regulatory authority instructions.



       
Dollar amounts
       
in thousands
         
ASSETS
       
         
         
Cash and balances due from
depository institutions:
   
 
Noninterest-bearing balances and currency and coin
 
2,344
 
Interest-bearing balances
   
304,273
Securities:
       
 
Held-to-maturity securities
   
 0
 
Available-for-sale securities
   
148,634

Equity securities with readily determinable fair values not held for trading  
0
Federal funds sold and securities
   
 
purchased under agreements to resell:
     
 
Federal funds sold in domestic offices
 
0
 
Securities purchased under agreements to resell
 
0
Loans and lease financing receivables:
   
 
Loans and leases held for sale
   
0
 
Loans and leases, held for investment
0
   
 
LESS: Allowance for loan and lease losses
0
   
 
Loans and leases held for investment,
net of allowance
0
   
Trading assets
     
0
Premises and fixed assets (including capitalized leases)
   
22,122
Other real estate owned
 
0
Investments in unconsolidated subsidiaries and associated companies
 
0
Direct and indirect investments in real estate ventures
   
0
Intangible assets
     
856,313
Other assets
     
98,701
Total assets
     
$1,432,387


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LIABILITIES
       
         
Deposits:
       
       In domestic offices
 
3,142
 
Noninterest-bearing
 
3,142
 
 
Interest-bearing
 
0
 
       Not applicable
       
Federal funds purchased and securities
   
 
sold under agreements to repurchase:
     
 
Federal funds purchased
   
0
 
Securities sold under agreements to repurchase
 
0
Trading liabilities
     
0
Other borrowed money:
   
(includes mortgage indebtedness and obligations under capitalized leases)
 
0
Not applicable
       
Not applicable
       
Subordinated notes and debentures
 
0
Other liabilities
     
260,631
Total liabilities
     
263,773
Not applicable
       
         
         
EQUITY CAPITAL
       
         
Perpetual preferred stock and related surplus
 
0
Common stock
     
1,000
Surplus (exclude all surplus related to preferred stock)
 
324,083
Not available
       
   Retained earnings
     
841,339
   Accumulated other comprehensive income
 
2,192
Other equity capital components
 
0
Not available
       
    Total bank equity capital
 
1,168,614
    Noncontrolling (minority) interests in consolidated subsidiaries
 
.0
Total equity capital
 
1,168,614
Total liabilities and equity capital
 
1,432,387


I, Matthew J. McNulty, CFO of the above-named bank do hereby declare that the Reports of Condition and Income (including the supporting schedules) for this report date have been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and are true to the best of my knowledge and belief.

Matthew J. McNulty          )          CFO

We, the undersigned directors (trustees), attest to the correctness of the Report of Condition (including the supporting schedules) for this report date and declare that it has been examined by us and to the best of our knowledge and belief has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true and correct.

Antonio I. Portuondo, President                       )

Michael P. Scott, Managing Director          )          Directors (Trustees)

Kevin P. Caffrey, Managing Director          )


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