REG - QNB Finance Ltd - Publication of Final Terms (ISIN XS2427254177)

Bank Of New York MellonAnnouncement

10/01/2022 08:05

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RNS Number : 8484X  QNB Finance Ltd  09 January 2022

Final Terms dated 6 January 2022

 

QNB Finance Ltd

(LEI: 549300MY0DXTHQEX5O57)

Issue of USD 20,000,000 0.57 per cent Fixed Rate Notesdue 10 January 2023

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
[person subsequently offering, selling or recommending the Notes (a
"distributor")]  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 which constitutes 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 is 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)
(http://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:                                  388
     (b) Tranche Number:                                 1
 3   Specified Currency or Currencies:                   USD ("USD")
 4   Aggregate Nominal Amount of Notes:                  USD 20,000,000
     (a) Series:                                         USD 20,000,000
     (b) Tranche:                                        USD 20,000,000
 5   Issue Price:                                        100 per cent. of the Aggregate Nominal Amount
 6   (a) Specified Denominations:                        USD 200,000
     (b) Calculation Amount:                             USD 200,000
 7   (a) Issue Date:                                     10 January 2022
     (b) Interest Commencement Date:                     Issue Date
 8   Maturity Date:                                      10 January 2023
 9   Interest Basis:                                     0.57 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) Board approval for issuance of Notes obtained:  Not Applicable

 

PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
 14  Fixed Rate Note Provisions:                                                   Applicable
     (a)  Rate of Interest:                                                        0.57 per cent. per annum payable semi-annually in arrear
     (b)  Interest Payment Dates:                                                  10 July and 10 January in each year
                                                                                   Not adjusted
     (c)   Fixed Coupon Amount:                                                    570 per Calculation Amount
     (d)  Broken Amount:                                                           Not Applicable
     (e)   Day Count Fraction:                                                     30/360 Following Un-Adjusted
     (f)   Determination Dates:                                                    Not Applicable
     (g)   Other terms relating to the method of calculating interest for Fixed    Not Applicable
     Rate Notes:
 15  Floating Rate 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:  100 per Calculation Amount
 21  Early Redemption Amount:               Not Applicable

 

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
 24  Talons for future Coupons to be attached to Definitive Notes (and dates on  No
     which such Talons mature):
 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 the Issue Date
     (c)   Estimate of total expenses related to admission to trading:               GBP 695.00
 2   Ratings:                                                                        The Notes to be issued have been unrated

 3   Interests of Natural and Legal Persons Involved in the Issue/Offer
     Save as discussed in "Subscription and Sales/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 19,999,061
 5   Yield
     Indication of yield:                                                            0.57
                                                                                     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:                                                                           XS2427254177
     Common Code:                                                                    242725417
     CFI:                                                                            DTFUFB

     FISN:                                                                           QNB FINANCE LIM/.57EMTN 20230110

     Any clearing system(s) other than Euroclear Bank SA/NV and Clearstream Banking  Not Applicable
     S.A. and the relevant identification number(s):
     Names and addresses of initial Paying Agent(s):                                 The Bank of New York Mellon

                                                                                     One Canada Square

                                                                                     London E14 5AL
     Trade Date:                                                                     30 December 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:                                        Goldman Sachs International

                                                                                     Plumtree Court

                                                                                     25 Shoe Lane

                                                                                     London EC4A 4AU

     (e)   US Selling Restrictions:                                                  Reg. S Compliance Category 1; TEFRA D

     (f)   Additional selling restrictions:                                          Not Applicable

 

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