REG - QNB Finance Ltd - Publication of Final Terms (ISIN: XS2299092747)

Deutsche Boerse AGAnnouncement

16/02/2021 13:05

RNS Number : 2607P
  
QNB Finance Ltd
  
16 February 2021
  
 

FINAL TERMS
Final Terms dated 16 February 2021
 
QNB Finance Ltd

(LEI: 549300MY0DXTHQEX5O57)

Issue of CNH 500,000,000 Fixed Rate Notes due February 2024

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

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

Medium Term Note Programme
The Notes will only be admitted to trading on the London Stock Exchange, which is a regulated market (as defined in MiFID II), to which only qualified investors (as defined in the Prospectus Regulation) can have access and shall not be offered or sold to non-qualified investors.
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 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.
Singapore SFA Product Classification: In connection with Section 309B of the Securities and Futures Act (Chapter 289) of Singapore (the "SFA") and the Securities and Futures (Capital Markets Products) Regulations 2018 of Singapore (the "CMP Regulations 2018"), the Issuer has determined, and hereby notifies all relevant persons (as defined in Section 309A(1) of the SFA), that the Notes are 'prescribed capital markets products' (as defined in the CMP Regulations 2018) and are Excluded Investment Products (as defined in MAS Notice SFA 04 N12: Notice on the Sale of Investment Products and MAS Notice FAA N16: Notice on Recommendations on Investment Products).
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 18 March 2020 and the supplement(s) thereto dated 14 April 2020, 7 August 2020,  13 October 2020 and 18 January 2021, which together constitute 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.



1


(a) Issuer:


QNB Finance Ltd




 


(b) Guarantor:


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




2


(a) Series Number:


325




 


(b) Tranche Number:


1




3


Specified Currency or Currencies:


Renminbi deliverable in Hong Kong ("CNH")




4


Aggregate Nominal Amount of Notes:


 




 


(a) Series:


CNH 500,000,000




 


(b) Tranche:


CNH 500,000,000




5


Issue Price:


100 per cent. of the Aggregate Nominal Amount




6


(a) Specified Denominations:


CNH 1,000,000 with integral multiples of USD CNH 1,000,000 in excess thereof




 


(b) Calculation Amount:


CNH 1,000,000




7


(a) Issue Date:


18 February 2021




 


(b) Interest Commencement Date:


Issue Date




8


Maturity Date:


18 February 2024, subject to adjustment in accordance with the Business Day Convention




9


Interest Basis:


3.28 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:


3.28 per cent. per annum payable annually in arrear




 


(b)           Interest Payment Date(s):


18 February in each year, commencing on the 18 February 2022 up to and including the Redemption Date,  adjusted in accordance with the Modified Business Day Convention




 


(c)           Fixed Coupon Amount:


Not Applicable




 


(d)           Broken Amount(s):


Not Applicable




 


(e)           Day Count Fraction:


Actual/365 (Fixed), Adjusted




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:


CNH 1,000,000 per Calculation Amount




21


Early Redemption Amount:


Not 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):


 



 
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:


Hong Kong, London, and New York




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 the Issue Date.




 


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


GBP 4,010.00




2


Ratings:


The Notes to be issued have been rated: Aa3 (Moody's)




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:


CNH 500,000,000




6


Operational Information


 




 


ISIN:


XS2299092747




 


Common Code:


229909274




 


CFI:


QNB FINANCE LIM/3.28EMTN 20240218, as set out on the website of the Association of National Numbering Agencies (ANNA) or alternatively sourced from the National Numbering Agency that assigned the ISIN




 


FISN:


DTFUFB, as set out on 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




 
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:


Barclays Bank PLC




 


(e)   US Selling Restrictions:


Reg. S Compliance Category 2;
TEFRA D



 

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