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QNB Finance Ltd (15IG)

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Monday 02 December, 2019

QNB Finance Ltd

Publication of Final Terms (ISIN:XS2089174390)

RNS Number : 3488V
QNB Finance Ltd
02 December 2019
 

 PROHIBITION OF SALES TO EEA RETAIL INVESTORS - The Notes are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the European Economic Area ("EEA"). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, "MiFID II"); (ii) a customer within the meaning of Directive 2016/97/EU (as amended or superseded, the "IDD"), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii) not a qualified investor as defined in Directive 2003/71/EC, as amended or superseded (the "Prospectus Directive"). Consequently no key information document required by Regulation (EU) No 1286/2014 (as amended or superseded, the "PRIIPs Regulation") for offering or selling the Notes or otherwise making them available to retail investors in the EEA has been prepared and therefore offering or selling the Notes or otherwise making them available to any retail investor in the EEA may be unlawful under the PRIIPs Regulation.

Final Terms dated 2 December 2019

 

QNB Finance Ltd
(LEI: 549300MY0DXTHQEX5O57)


Issue of CNY 350,000,000.00 Fixed Rate Notes due December 2026
Guaranteed by Qatar National Bank (Q.P.S.C.)
under the U.S.$17,500,000,000
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.

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 July 2019 and the supplement dated 10 October 2019 which together constitute a base prospectus (the "Prospectus") for the purposes of the Prospectus Directive. This document constitutes the Final Terms of the Notes described herein for the purposes of Article 5.4 of the Prospectus Directive and must be read in conjunction with the Prospectus. Full information on the Issuer, the Guarantor and the offer of the Notes is only available on the basis of the combination of these Final Terms and the Prospectus. 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:

236

 

(b) Tranche Number:

1

3

Specified Currency or Currencies:

Offshore Renminbi (CNY)

4

Aggregate Nominal Amount of Notes:

 CNY 350,000,000.00

 

(a) Series:

CNY 350,000,000.00

 

(b) Tranche:

CNY 350,000,000.00

5

Issue Price:

100.00 per cent. of the Aggregate Nominal Amount

6

(a) Specified Denominations:

CNY 1,000,000.00

 

(b) Calculation Amount:

CNY 1,000,000.00

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 CNY 0.01, CNY 0.005 being rounded upwards.

7

(a) Issue Date:

4 December 2019

 

(b) Interest Commencement Date:

Issue Date

8

Maturity Date:

4 December 2026

9

Interest Basis:

4.0525 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:

4.0525  per cent. per annum payable annually in arrear

 

 

(b)  Interest Payment Date(s):

Annually on 4 December commencing on 4 December 2020, up to and including the Maturity Date, in each case adjusted in accordance with Condition 5(a) provided that if any Interest Payment Date falls on a day which is not a Business Day, the Interest Payment Date will be the next succeeding Business Day unless it would thereby fall in the next calendar month in which event the Interest Payment Date shall be brought forward to the immediately preceding Business Day.

 

 

(c)   Fixed Coupon Amount:

To be determined by the Calculation Agent

 

 

(d)  Broken Amount(s):

Not Applicable

 

 

(e)   Day Count Fraction:

Act/365 (Fixed)

 

 

(f)   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:

CNY 1,000,000.00 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):

As 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, New York City and London

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:

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 and other asscoaicted costs:

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 Regulated Market with effect from the Issue Date.

 

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

GBP 2,500

2

Ratings:

Not Applicable

4

Reasons for the Offer, Estimated Net Proceeds and Total Expenses

 

(a)  Reasons for the offer:

Not Applicable

 

(b)  Estimated net proceeds:

Not Applicable

 

(c)   Estimated total expenses:

Not Applicable

5

Yield

 

 

Indication of yield:

4.0525 per cent. per annum

 

 

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:

XS2089174390

 

Common Code:

208917439

 

CFI:

DTFUFB

 

FISN:

QNB FINANCE LIM/4.0525EMTN 20261204

 

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)   Stabilising Manager(s) (if any):

Not Applicable

 

(d)   If non-syndicated, name of Dealer:

Credit Agricole Corporate and Investment Bank

 

(e)   US Selling Restrictions:

Reg. S Compliance Category 2;

TEFRA D

 


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