REG - QNB Finance Ltd - Publication of Final Terms (ISIN: XS2404223369)

Bank Of New York MellonAnnouncement

04/11/2021 13:05

RNS Number : 3401R
  
QNB Finance Ltd
  
04 November 2021
  
 

FINAL TERMS
Final Terms dated 5 November 2021
 
QNB Finance Ltd

(LEI: 549300MY0DXTHQEX5O57)

Issue of CHF 50,000,000 0.280 per cent Notes due 9 November 2026

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

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

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.
UK MiFIR 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 only eligible counterparties, as defined in the FCA Handbook Conduct of Business Sourcebook ("COBS"), and professional clients, as defined in Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 (the "UK MiFIR"); and (ii) all channels for distribution of the Notes to eligible counterparties and professional clients are appropriate. Any distributor should take into consideration the manufacturer's target market assessment; however, a distributor subject to the FCA Handbook Product Intervention and Product Governance Sourcebook (the "UK MiFIR Product Governance Rules") 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 17 March 2021 and the supplements thereto dated 12 April 2021, 12 July 2021 and 11 October 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:


383




 


(b) Tranche Number:


1




3


Specified Currency or Currencies:


Swiss Francs ("CHF")




4


Aggregate Nominal Amount of Notes:


 




 


(a) Series:


CHF 50,000,000




 


(b) Tranche:


CHF 50,000,000




5


Issue Price:


100.00 per cent. of the Aggregate Nominal Amount




6


(a) Specified Denominations:


CHF 200,000




 


(b) Calculation Amount:


CHF 200,000




7


(a) Issue Date:


9 November 2021




 


(b) Interest Commencement Date:


Issue Date




8


Maturity Date:


9 November 2026




9


Interest Basis:


0.280 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:


0.280 per cent. per annum payable annually in arrear


 




 


(b)  Interest Payment Date:


9 November in each year, up to and including the Maturity Date, unadjusted in accordance with the modified business day convention, starting on 9 November 2022


 




 


(c)   Fixed Coupon Amount:


Not Applicable


 




 


(d)  Broken Amount(s):


Not Applicable


 




 


(e)   Day Count Fraction:


30/360, unadjusted


 




 


(f)   Determination Dates:


9 November in each year


 




 


(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:


CHF 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):


CHF 200,000 per Calculation Amount



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 Zurich




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 has been 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 9 November 2021.




 


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


GBP 2,660.00




2


Ratings:


The Notes to be issued will not receive an explicit rating.




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:


CHF 50,000,000.00




5


Fixed Rate Notes only-Yield


 




 


Indication of yield:


0.280 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:


XS2404223369




 


Common Code:


240422336




 


CFI:


See the website of the Association of National Numbering Agencies (ANNA) or alternatively sourced from the National Numbering Agency that assigned the ISIN




 


FISN:


See the website of the Association of National Numbering Agencies (ANNA) or alternatively sourced from the 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




 


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


Not Applicable




 


Trade Date:


26 October 2021




 
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:


Deutsche Bank AG, London Branch








(e)   US Selling Restrictions:


Reg. S Compliance Category 2;
TEFRA D




 


(f)   Additional selling restrictions:


Not Applicable



 

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