RNS Number : 8469O
QNB Finance Ltd
05 June 2020
FINAL TERMS
Final Terms dated 5 June 2020
QNB Finance Ltd
(LEI: 549300MY0DXTHQEX5O57)
Issue of CNY 445,000,000 Fixed Rate Notes due 5 June 2025
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 18 March 2020 and the supplement thereto dated 14 April 2020, 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:
|
270
|
|
|
(b) Tranche Number:
|
1
|
|
3
|
Specified Currency or Currencies:
|
Chinese Renminbi, the lawful currency of the People`s Republic of China ("CNY")
|
|
4
|
Aggregate Nominal Amount of Notes:
|
|
|
|
(a) Series:
|
CNY 445,000,000
|
|
|
(b) Tranche:
|
CNY 445,000,000
|
|
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:
|
5 June 2020
|
|
|
(b) Interest Commencement Date:
|
5 June 2020
|
|
8
|
Maturity Date:
|
5 June 2025
|
|
9
|
Interest Basis:
|
3.60 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:
|
3.60 per cent. per annum payable annually in arrear
|
|
|
|
(b) Interest Payment Date(s):
|
5 June in each year adjusted in accordance with Condition 5(a)
|
|
|
|
(c) Fixed Coupon Amount:
|
To be determined by the Calculation Agent
|
|
|
|
(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 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 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):
|
CNY 1,000,000 per Calculation Amount
|
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 and New York in addition to Beijing and Hong Kong
|
|
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 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 5 June 2020.
|
|
|
(c) Estimate of total expenses related to admission to trading:
|
GBP 3,795.00
|
|
2
|
Ratings:
|
The Notes to be issued are expected to be rated:
|
|
|
|
S&P: A Stable
|
|
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:
|
See "Use of Proceeds" in Prospectus
|
|
|
(b) Estimated net proceeds:
|
CNY 445,000,000
|
|
5
|
Fixed Rate Notes only-Yield
|
|
|
|
Indication of yield:
|
3.60 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:
|
XS2181280848
|
|
|
Common Code:
|
218128084
|
|
|
CFI:
|
DTFUFB
|
|
|
FISN:
|
QNB FINANCE LIM/3.6EMTN 20250605
|
|
|
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:
|
Mizuho International plc
Mizuho House
30 Old Bailey
London EC4M 7AU
|
|
|
(e) US Selling Restrictions:
|
Reg. S Compliance Category 2;
TEFRA D
|
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
[email protected] or visit
www.rns.com.
END
PFTKKNBKBBKDFAK