REG - QNB Finance Ltd - Publication of Final Terms (ISIN: XS2352257864)

Bank Of New York MellonAnnouncement

10/06/2021 13:30

RNS Number : 5200B
  
QNB Finance Ltd
  
10 June 2021
  
 

FINAL TERMS
Final Terms dated 8 June 2021
 
QNB Finance Ltd

(LEI: 549300MY0DXTHQEX5O57)

Issue of USD 50,000,000 Fixed Rate Notes due 10 June 2023

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

under the U.S.$22,500,000,000

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 17 March 2021 and the supplement thereto dated 12 April 2021, which together constitute a base prospectus (the "Prospectus") for the purposes of Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the EUWA (the "UK Prospectus Regulation"). This document constitutes the Final Terms of the Notes described herein for the purposes of the UK Prospectus Regulation and must be read in conjunction with the Prospectus in order to obtain all the relevant information. The Prospectus and the supplement 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:


355




 


(b) Tranche Number:


1




3


Specified Currency or Currencies:


U.S dollars ("U.S.$")




4


Aggregate Nominal Amount of Notes:


 




 


(a) Series:


USD 50,000,000




 


(b) Tranche:


USD 50,000,000




5


Issue Price:


100 per cent. of the Aggregate Nominal Amount




6


(a) Specified Denominations:


USD 200,000 and integral multiples of USD 1,000 in excess thereof




 


(b) Calculation Amount:


USD 1,000




7


(a) Issue Date:


10 June 2021




 


(b) Interest Commencement Date:


Issue Date




8


Maturity Date:


10 June 2023




9


Interest Basis:


0.88% 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(s) of Interest:


0.88 per cent. per annum payable semi-annually in arrear


 




 


(b)  Interest Payment Date(s):


The first Coupon Payment Date is 10 December 2021. The subsequent coupon payment dates are on 10th of December and 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):


Not Applicable


 




 


(d)  Broken Amount(s):


Not Applicable


 




 


(e)   Day Count Fraction:


30/360, unadjusted


 




 


(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:


USD 1,000 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 and London




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 Retail Investors:


Not Applicable




26


Prohibition of Sales to 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 Main Market with effect from 11 June 2021.




 


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


GBP 2,660




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:


USD 50,000,000




5


Fixed Rate Notes only-Yield


 




 


Indication of yield:


0.88 per cent per annum payable at semi-annually in arrear
 




 


 


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:


XS2352257864




 


Common Code:


235225786




 


CFI:


Not Available




 


FISN:


Not Available




 


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:


Standard Chartered Bank




 


(e)   US Selling Restrictions:


Reg. S Compliance Category 2;
TEFRA D




 


(f)   Additional selling restrictions:


Not Applicable



 

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