REG - QNB Finance Ltd - Publication of Final Terms (ISIN: XS2162954478)

Bank Of New York MellonAnnouncement

24/04/2020 17:30

RNS Number : 8591K
  
QNB Finance Ltd
  
24 April 2020
  
 

Final Terms dated 23 April 2020
 
 
 
QNB Finance Ltd
(LEI: 549300MY0DXTHQEX5O57)
 
 
Issue of AUD 200,000,000 3.91% Fixed Rate Notes 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 each 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 manufacturers' 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 manufacturers' target market assessment) and determining appropriate distribution channels.
 
Terms used herein shall be deemed to be defined as such for the purposes of the terms and conditions (the
"Conditions") set forth to the Base Prospectus dated 18 March 2020 and the Base Prospectus supplement 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 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.
 
PART A - CONTRACTUAL TERMS
 




1


(a) Issuer:


QNB Finance Ltd




 


 
(b) Guarantor:


 
Qatar National Bank (Q.P.S.C.)




 
2


 
(a) Series Number:


 
267




 


 
(b) Tranche Number:


 
1




 
3


 
Specified Currency or Currencies:


 
Australian Dollar ("AUD")




 
4


 
Aggregate Nominal Amount of Notes:


 
AUD 200,000,000




 


 
(a) Series:


 
AUD 200,000,000




 


 
(b) Tranche:


 
AUD 200,000,000




 
5


 
Issue Price:


 
100 per cent. of the Aggregate Nominal Amount




 
6


 
(a) Specified Denominations:


 
AUD 200,000 and integral multiples of AUD
200,000 in excess thereof





 

(b) Calculation Amount:                                          AUD 200,000
 
7          (a) Issue Date:                                                            29 April 2020 (b) Interest Commencement Date:                                             Issue Date
8          Maturity Date:                                                          29 April 2030
 
9          Interest Basis:                                                            3.91 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 Applicable
 
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:


 
3.91 per cent. per annum payable annually in arrear




 


 
(b) Interest Payment Date(s):


 
29 April in each year commencing 29 April 2021 and ending on the Maturity Date and each adjusted 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 AUD 0.01, AUD 0.005 being rounded upwards




 


 
(d) Broken Amount(s):


 
Not Applicable




 


 
(e)  Day Count Fraction:


 
30/360




 


 
(f)  Determination Dates:


 
Each Interest Payment Date




 


 
(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:


 
AUD 200,000 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):


 
AUD 200,000




 
 
 
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:


 
London, New York and Sydney




 
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 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 29 April 2020.




 


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


GBP 3,750.00 in relation to admission to trading of the Notes on the regulated market of the London Stock Exchange




2


Ratings:


The Notes to be issued are expected to be 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 corporate purposes




 


 
(b) Estimated net proceeds:


 
AUD 200,000,000




 
5


 
Fixed Rate Notes only-Yield


 




 


Indication of yield:


3.91 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:


XS2162954478




 


Common Code:


216295447




 


CFI:


As set out on the website of the Association of Numbering Agencies (ANNA) or alternatively sourced from the responsible National Numbering Agency that assigned the ISIN




 


FISN:


As set out on the website of the Association of Numbering Agencies (ANNA) or alternatively sourced from the responsible National Numbering Agency that assigned the ISIN




 


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




 
 
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:


 
Australia and New Zealand Banking Group Limited
(a company incorporated in Australia)




(e)  US Selling Restrictions:


Reg. S Compliance Category 2; TEFRA not applicable




 


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