REG - QNB Finance Ltd - Publication of Final Terms (ISIN XS2430042767)
10/01/2022 08:05
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RNS Number : 8483X QNB Finance Ltd 09 January 2022
FINAL TERMS
Final Terms dated 10 January 2022
QNB Finance Ltd
(LEI: 549300MY0DXTHQEX5O57)
Issue of USD 30,000,000 Floating Rate Notes due 12 January 2026
Guaranteed by Qatar National Bank (Q.P.S.C.)
under the U.S.$22,500,000,000
Medium Term Note Programme
PART A - CONTRACTUAL TERMS
Terms used herein shall be deemed to be defined as such for the purposes of
the terms and conditions (the "Conditions") set forth in the prospectus dated
17 March 2021 and the supplement thereto dated 12 April 2021, which together
constitute a base prospectus (the "Prospectus") for the purposes of Regulation
(EU) 2017/1129 as it forms part of domestic law by virtue of the EUWA (the "UK
Prospectus Regulation". This document constitutes the Final Terms of the Notes
described herein for the purposes of the UK Prospectus Regulation and must be
read in conjunction with the Prospectus in order to obtain all the relevant
information. The Prospectus and the supplement thereto are available for
viewing at the market news section of the London Stock Exchange website
(www.londonstockexchange.com/exchange/news/market-news/market-news-home.html)
(http://www.londonstockexchange.com/exchange/news/market-news/market-news-home.html))
and during normal business hours at the registered offices of the Issuer at
c/o Maples Corporate Services Limited, P.O. Box 309, Ugland House, Grand
Cayman, KY1-1104, Cayman Islands, and copies may be obtained from the
registered offices of the Fiscal Agent at One Canada Square, London E14 5AL,
United Kingdom.
1 (a) Issuer: QNB Finance Ltd
(b) Guarantor: Qatar National Bank (Q.P.S.C.)
2 (a) Series Number: 389
(b) Tranche Number: 1
3 Specified Currency or Currencies: U.S dollars ("U.S.$")
4 Aggregate Nominal Amount of Notes:
(a) Series: USD 30,000,000
(b) Tranche: USD 30,000,000
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: 12 January 2022
(b) Interest Commencement Date: Issue Date
8 Maturity Date: 12 January 2026
9 Interest Basis: Compounded Daily SOFR + 0.90 per cent. per annum Floating 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 and Guarantee obtained: Not Applicable
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
14 Fixed Rate Note Provisions: Not Applicable
15 Floating Rate Note Provisions: Applicable
(a) Interest Period(s): The initial Coupon Period is the period from and including the Issue Date up
to but excluding the first Coupon Payment Date. Each subsequent Coupon Period
is the period from and including a Coupon Payment Date up to but excluding the
next Coupon Payment Date
The end date of each Interest Period shall be subject to adjustment in
accordance with the Business Day Convention specified in paragraph 15(e) below
(b) Specified Interest Payment Dates: The first coupon payment date is 12 April 2022. Each subsequent coupon
payment date is on the 12(nd) day of January, April, July and October of each
year up to and including the Maturity Date , subject, in each case, to
adjustment in accordance with the Business Day Convention specified in
paragraph 15(e) below
(c) First Interest Payment Date: 12 April 2022, subject to adjustment in accordance with the Business Day
Convention specified in paragraph 15(e) below
(d) Interest Period Date: Not applicable
(e) Business Day Convention: Modified Following Business Day Convention
(f) Business Centre(s): New York and London
(g) Manner in which the Rate(s) of Interest is/are to be determined: Screen Rate Determination
(h) Party responsible for calculating the Rate(s) of Interest and/or Principle Paying Agent
Interest Amount(s) (if not the [Fiscal Agent]):
(i) Screen Rate Determination: SOFR Benchmark
- Reference Rate: Compounded Daily SOFR
The Coupon for each relevant Interest Period shall be determined by the
Calculation Agent as at each Interest Determination Date.
- Interest Determination Date(s): Five U.S. Government Securities Business Days prior to each Interest Period
Date
- Relevant Time: Not Applicable
- Relevant Screen Page: Not Applicable
- Relevant Financial Centre: Not Applicable
- SOFR Benchmark: Compounded Daily SOFR
- Compounded SOFR Average: Not Applicable
- Lookback Days: 5 U.S. Government Securities Business Day(s)
- SOFR Observation Shift Days: Not Applicable
- Interest Payment Delay Days: Not Applicable
- SOFR Rate Cut-Off Date: Not Applicable
- SOFR IndexStart: Not Applicable
- SOFR IndexEnd: Not Applicable
- D: 360
- Fallback Provisions: As per the program
(j) ISDA Determination:
- Floating Rate Option: Not applicable
- Designated Maturity: Not applicable
- Reset Date: Not applicable
(k) Linear Interpolation: Not applicable
(l) Margin(s): +0.90 per cent. per annum
(m) Minimum Rate of Interest: 0 per cent. per annum
(n) Maximum Rate of Interest: Not Applicable
(o) Day Count Fraction: Actual/360, adjusted
(p) Fall back provisions, rounding provisions, denominator and any other As per the Conditions
terms relating to the method of calculating interest on Floating Rate Notes,
if different from those set out in the Conditions:
(q) ISDA Definitions: 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 As per the Conditions
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):
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 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 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 13 January 2022.
(c) Estimate of total expenses related to admission to trading: GBP 695.00
2 Ratings: The Notes to be issued have not been rated:
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 30,000,000
5 Fixed Rate Notes only-Yield
Indication of yield: Not Applicable
6 Operational Information
ISIN: XS2430042767
Common Code: 243004276
CFI: Not Available
FISN: Not Available
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, 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: 4 January 2022
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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