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QNB Finance Ltd (77NQ)

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Wednesday 17 June, 2020

QNB Finance Ltd

Publication of Final Terms (ISIN: XS2190445937)

RNS Number : 2622Q
QNB Finance Ltd
17 June 2020
 

FINAL TERMS

Final Terms dated 17 June 2020

 

QNB Finance Ltd
(LEI: 549300MY0DXTHQEX5O57)


Issue of HKD 155,000,000 2.35 per cent. Notes due 2023
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 each 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, 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:

274

 

(b) Tranche Number:

1

3

Specified Currency or Currencies:

Hong Kong dollars ("HKD")

4

Aggregate Nominal Amount of Notes:

 

 

(a) Series:

HKD 155,000,000

 

(b) Tranche:

HKD 155,000,000

5

Issue Price:

100 per cent. of the Aggregate Nominal Amount

6

(a) Specified Denominations:

HKD 1,000,000

 

(b) Calculation Amount:

HKD 1,000,000

7

(a) Issue Date:

19 June 2020

 

(b) Interest Commencement Date:

Issue Date

8

Maturity Date:

19 June 2023

9

Interest Basis:

2.25 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:

2.35 per cent. per annum payable annually in arrear

 

 

(b)  Interest Payment Date(s):

19 June in each year adjusted in accordance with

 

 

(c)  Fixed Coupon Amount:

HKD 23,500 per Calculation Amount

 

 

(d)  Broken Amount(s):

Not Applicable

 

 

(e)  Day Count Fraction:

Actual/365(Fixed)

 

 

(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:

HKD 1,000,000 per Calculation Amount

21

Early Redemption Amount:

 

 

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):

HKD 1,000,000

 

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

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 645.00

2

Ratings:

The Notes to be issued have been rated:

 

 

S&P: A

3

Interests of Natural and Legal Persons Involved in the Issue

 

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:

Not Applicable

 

(b)]Estimated net proceeds:

Not Applicable

5

Fixed Rate Notes only-Yield

 

 

Indication of yield:

2.35 per cent.

 

 

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:

XS2190445937

 

Common Code:

219044593

 

CFI:

See the website of the Association of National Numbering Agencies (ANNA) or alternatively sourced from the National Numbering Agency that assigned the ISIN

 

FISN:

See, as updated, 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):

As per the Issuer's Medium Term Note Programme

 

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:

 

(e)   US Selling Restrictions:

 


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.
 
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