REG - QNB Finance Ltd - Publication of Final Terms (ISIN: XS2182296116)

Bank Of New York MellonAnnouncement

03/06/2020 17:05

RNS Number : 6904O
  
QNB Finance Ltd
  
03 June 2020
  
 

Final Terms
PROHIBITION OF SALES TO EEA AND UK RETAIL INVESTORS - The Notes are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the European Economic Area ("EEA") or in the United Kingdom (the "UK"). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, "MiFID II"); (ii) a customer within the meaning of Directive (EU) 2016/97 (the "IDD"), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii) not a qualified investor as defined in Regulation (EU) 2017/1129 (the "Prospectus Regulation"). Consequently no key information document required by Regulation (EU) No 1286/2014 (as amended, the "PRIIPs Regulation") for offering or selling the Notes or otherwise making them available to retail investors in the EEA or in the UK has been prepared and therefore offering or selling the Notes or otherwise making them available to any retail investor in the EEA or in the UK may be unlawful under the PRIIPs Regulation.
Final Terms dated
03 June 2020
 
QNB Finance Ltd

(LEI: 549300MY0DXTHQEX5O57)

 Issue of HKD 160,000,000 Fixed Rate Notes due 5 June 2025
 Guaranteed by Qatar National Bank (Q.P.S.C.)

under the U.S.$17,500,000,000

Medium Term Note Programme
 
 
PART A - CONTRACTUAL TERMS
Terms used herein shall be deemed to be defined as such for the purposes of the terms and conditions (the "Conditions") set forth in the prospectus dated 18 Mar 2020 and the supplement(s) thereto dated 14 Apr 2020, which together constitute a base prospectus (the "Prospectus") for the purposes of Regulation (EU) 2017/1129 (the "Prospectus Regulation"). This document constitutes the Final Terms of the Notes described herein for the purposes of the Prospectus Regulation and must be read in conjunction with the Prospectus in order to obtain all the relevant information. The Prospectus and the supplement(s) thereto are available for viewing at the market news section of the London Stock Exchange website (www.londonstockexchange.com/exchange/news/market-news/market-news-home.html) and during normal business hours at the registered offices of the Issuer at c/o Maples Corporate Services Limited, P.O. Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands, and copies may be obtained from the registered offices of the Fiscal Agent at One Canada Square, London E14 5AL, United Kingdom.
 
 



1       


(a)        Issuer:


QNB Finance Ltd




 


(b)       Guarantor:


Qatar National Bank (Q.P.S.C.)




2       


(a)        Series Number:


271




 


(b)       Tranche Number:


Not Applicable




 


 


 




3       


Specified Currency or Currencies:


Hong Kong dollars ("HK$")




4       


Aggregate Nominal Amount of Notes:


 




 


(a)        Series:


HK$160,000,000




 


(b)       Tranche:


HK$160,000,000




5       


Issue Price:


100 per cent. of the Aggregate Nominal Amount




6       


(a)        Specified Denominations:


HK$ 1,000,000




 


(b)       Calculation Amount:


HK$ 1,000,000




7       


(a)        Issue Date:


05 June 2020




 


(b)       Interest Commencement Date:


05 June 2020




8       


Maturity Date:


05 June 2025




9       


Interest Basis:


2.83 per cent. per annum Fixed Rate




 


 


(further particular specified below)




10     


Redemption/Payment Basis:


Redemption at par




11     


Change of Interest or Redemption/Payment Basis:


Not Applicable




12     


Put/Call Options:


Not Applicable 
 




13     


(a)        Status of the Notes:


Senior




 


(b)       Status of the Guarantee:


Senior




 


(c)        Board approval for issuance of Notes and Guarantee obtained:


N/A




PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE




14     


Fixed Rate Note Provisions:


Applicable




 


(a)        Rate(s) of Interest:


2.83 per cent. per annum payable annually in arrear




 


(b)       Interest Payment Date(s):


The first Coupon Payment Date is 05 June 2021. The subsequent coupon payment dates are on 5th of June of each year with the Final Coupon Payment Date falls on the Maturity Date, subject to adjustment and in accordance with the Modified Following Business Day Convention




 


 


 




 


(c)        Fixed Coupon Amount[(s)]:


Each Fixed Coupon Amount shall be calculated by multiplying the product of the Rate of Interest and the Calculation Amount by the Day Count Fraction and rounding the resultant figure to the nearest HKD0.01, HKD0.005 being rounded upwards




 


(d)       Broken Amount(s):


Not Applicable




 


(e)        Day Count Fraction:


Actual/365 (Fixed)




 


(f)        Determination Dates:


Not Applicable




 


(g)       Other terms relating to the method of calculating interest for Fixed Rate Notes:


Not Applicable




15     


Floating Rate Note Provisions:


Not Applicable




16     


Zero Coupon Note Provisions:


Not Applicable




PROVISIONS RELATING TO REDEMPTION




17     


Call Option:


Not Applicable




18     


Put Option:


Not Applicable




19     


Change of Control Put:


Not Applicable




20     


Final Redemption Amount of each Note:


HK$ 1,000,000 per Calculation Amount




21     


Early Redemption Amount:


Applicable




 


Early Redemption Amount(s) per Calculation Amount payable on redemption for taxation reasons or on event of default or other early redemption and/or the method of calculating the same (if required or if different from that set out in the Conditions):


As per the Conditions




GENERAL PROVISIONS APPLICABLE TO THE NOTES




22     


Form of Notes:


Bearer Notes:




 






Temporary Global Note exchangeable for a Permanent Global Note which is exchangeable for Definitive Notes in the limited circumstances specified in the Permanent Global Note




23     


Financial Centre(s) or other special provisions relating to payment dates:


New York, London and Hong Kong




24     


Talons for future Coupons to be attached to Definitive Notes (and dates on which such Talons mature):


No




25     


Prohibition of Sales to EEA and UK Retail Investors:


Applicable



 
Signed on behalf of QNB Finance Ltd:
 
By:      ............................................

           Duly authorised
 
Signed on behalf of Qatar National Bank (Q.P.S.C.):
 
By:      .............................................

           Duly authorised




PART B - OTHER INFORMATION
 



1         


Listing


 




 


(a)        Listing:


London




 


(b)       Admission to trading:


Application is expected to be made by the Issuer (or on its behalf) for the Notes to be admitted to trading on the London Stock Exchange's Regulated Market with effect from 8 June 2020.




 


(c)        Estimate of total expenses   related to admission to trading:


GBP 645.00




2         


Ratings


The Notes to be issued have been rated:
S&P: A
 




 


 


 




3         


Interests of Natural and Legal Persons Involved in the Issue/Offer




 


"Save as discussed in "Subscription and Sale/General Information", so far as the Issuer is aware, no person involved in the offer of the Notes has an interest material to the offer."




4         


Reasons for the Offer and Estimated Net Proceeds




 


(a)        Reasons for the offer:


General business purpose




 


(b)       Estimated net proceeds:


HK$160,000,000




5         


[Fixed Rate Notes only - Yield


 




 


Indication of yield:


2.83 per cent per annum.
The yield is calculated at the Issue Date on the basis of the Issue Price. It is not an indication of future yield.




6         


Operational Information


 




 


ISIN:


XS2182296116




 


Common Code:


218229611




 


CFI:


Not Applicable




 


FISN:


Not Applicable




 


Any clearing system(s) other than Euroclear Bank SA/NV and Clearstream Banking S.A. and the relevant identification number(s):


Not Applicable




 


Names and addresses of initial Paying Agent(s):


The Bank of New York Mellon, acting through its London Branch

One Canada Square

London E14 5AL

United Kingdom




 


Names and addresses of additional Paying Agent(s) (if any):


Not Applicable




7 7


Distribution


 




 


(a)        Method of distribution:


Non-syndicated




 


(b)       If syndicated, names of            Managers:


Not Applicable




 


(c)        Stabilising Manager(s) (if            any):


Not Applicable




 


(d)       If non-syndicated, name of            Dealer:


Standard Chartered Bank




 


(e)        US Selling Restrictions:


Reg. S Compliance Category 2
TEFRA D



 


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