REG - QNB Finance Ltd - Publication of Final Terms (ISIN: XS2447545034)

Deutsche Boerse AGAnnouncement

21/02/2022 13:15

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RNS Number : 2765C  QNB Finance Ltd  21 February 2022

FINAL TERMS

Final Terms dated 21 February 2022

 

QNB Finance Ltd

(LEI: 549300MY0DXTHQEX5O57)

Issue of CNY 125,000,000 Fixed Rate Notes due 23 Feburuary 2027

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(s) thereto dated 12 April 2021, 12 July 2021,
11 October 2021 and 18 January 2022, 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 supplements 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:                                                     401
     (b) Tranche Number:                                                    1
 3   Specified Currency or Currencies:                                      Chinese Renminbi ("CNY")

                                                                            * Purchasers of the CDs should note that the Renminbi is not a freely
                                                                            convertible currency. All payments in respect of the CDs will be made solely
                                                                            by transfer to a Renminbi bank account maintained in Hong Kong in accordance
                                                                            with prevailing rules and regulations. The Issuer cannot be required to make
                                                                            payment by any other means (including in currency or by transfer to a bank
                                                                            account in the PRC). In addition, there can be no assurance that access to
                                                                            Renminbi funds for the purposes of making payments on the CDs or generally may
                                                                            not remain or become restricted.
 4   Aggregate Nominal Amount of Notes:
     (a) Series:                                                            CNY 125,000,000
     (b) Tranche:                                                           CNY 125,000,000
 5   Issue Price:                                                           100 per cent. of the Aggregate Nominal Amount
 6   (a) Specified Denominations:                                           CNY 1,000,000
     (b) Calculation Amount:                                                CNY 1,000,000
 7   (a) Issue Date:                                                        23 February 2022
     (b) Interest Commencement Date:                                        Issue Date
 8   Maturity Date:                                                         23 February 2027
 9   Interest Basis:                                                        3.64 per cent. per annum 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:                                                     3.64 per cent. per annum payable annually in arrear
     (b)  Interest Payment Date(s):                                                The first Coupon Payment Date is 23 Febuary 2023. The subsequent coupon
                                                                                   payment dates are on 23(rd) of February 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) :                                               Each Fixed Coupon Amount shall be calculated by multiplying the product of the
                                                                                   Rate of Interest and the Calculation Amount by the Day Count Fraction and
                                                                                   rounding the resultant figure to the nearest CNY0.01, CNY0.005 being rounded
                                                                                   upwards
     (d)  Broken Amount(s):                                                        Not Applicable
     (e)   Day Count Fraction:                                                     Actual/365 (Fixed), 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
 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:                                           CNY 1,000,000 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, London and Hong Kong
 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 24 February 2022.
     (c)   Estimate of total expenses related to admission to trading:               GBP 750
 2   Ratings:                                                                        Not Applicable
 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:                                                    CNY 125,000,000
 5   [Fixed Rate Notes only-Yield
     Indication of yield:                                                            3.64 per cent per annum payable at 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:                                                                           XS2447545034
     Common Code:                                                                    244754503
     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:                                                                     15 February 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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