REG - QNB Finance Ltd - Publication of Final Terms (ISIN: XS2190467824)

Bank Of New York MellonAnnouncement

15/06/2020 16:05

RNS Number : 9812P
  
QNB Finance Ltd
  
15 June 2020
  
 

Final Terms dated 15 June 2020
 
QNB Finance Ltd

(LEI: 549300MY0DXTHQEX5O57)

Issue of CNH 235,000,000 3.900 per cent. Notes due 2025

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

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

Medium Term Note Programme
MiFID II product governance / Professional investors and ECPs only target market - Solely for the purposes of the manufacturer's product approval process, the target market assessment in respect of the Notes has led to the conclusion that: (i) the target market for the Notes is eligible counterparties and professional clients only, each as defined in MiFID II; and (ii) all channels for distribution of the Notes to eligible counterparties and professional clients are appropriate. Any person subsequently offering, selling or recommending the Notes (a "distributor") should take into consideration the manufacturer's target market assessment; however, a distributor subject to MiFID II is responsible for undertaking its own target market assessment in respect of the Notes (by either adopting or refining the manufacturer's target market assessment) and determining appropriate distribution channels.
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 March 2020 and the supplement thereto dated 14 April 2020, which together constitutes 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] [is] [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:


275




 


(b) Tranche Number:


1




3


Specified Currency or Currencies:


Chinese Renminbi ("CNH")




4


Aggregate Nominal Amount of Notes:


 




 


(a) Series:


CNH 235,000,000




 


(b) Tranche:


CNH 235,000,000




5


Issue Price:


100 per cent. of the Aggregate Nominal Amount




6


(a) Specified Denominations:


CNH 1,000,000




 


(b) Calculation Amount:


CNH 1,000,000




7


(a) Issue Date:


17 June 2020




 


(b) Interest Commencement Date:


Issue Date




8


Maturity Date:


17 June 2025




9


Interest Basis:


3,900 per cent. Fixed Rate





10


Redemption/Payment Basis:


Redemption at par




11


Change of Interest or Redemption/Payment Basis:


Not Applicable




12


Put/Call Options:


Not Appliable




13


(a) Status of the Notes:


Senior




 


(b) Status of the Guarantee:


Senior




 


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


Not Applicable



 
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE



14


Fixed Rate Note Provisions:


Applicable 


 




 


(a)  Rate of Interest:


3.900 per cent. per annum payable annually in arrear


 




 


(b)  Interest Payment Date(s):


17 June in each year adjusted in accordance with the Modified Following Business Day Convention, from and including 17 June 2021, up to and including the Maturity Date


 




 


(c)   Fixed Coupon Amount[(s)]:


39,000 per Calculation Amount


 




 


(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:


CNH 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:




 


 


Permanent Global Note 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:


Hong Kong, London and New York




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:


Not 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 has been 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 17 June 2020.




 


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


GBP 2,545.00




2


Ratings:


The Notes to be issued have been rated:




 


 


 




 


 


[Moody's: Aa3




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 corporate purposes




 


(b)  Estimated net proceeds:


CNH 235,000,000




5


Fixed Rate Notes only-Yield


 




 


Indication of yield:


3.900 per cent.




 


 


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:


XS2190467824




 


Common Code:


219046782




 


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


 
 
 
Distribution


 




 


(a)   Method of distribution:


Non-syndicated




 


(b)   If syndicated, names of Managers:


Not Applicable




 


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


Not Applicable




 


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


HSBC Bank plc




 


(e)   US Selling Restrictions:


Reg. S Compliance Category [2;
TEFRA D



 


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