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.
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1
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(a) Issuer:
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QNB Finance Ltd
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(b) Guarantor:
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Qatar National Bank (Q.P.S.C.)
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2
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(a) Series Number:
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274
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(b) Tranche Number:
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1
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3
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Specified Currency or Currencies:
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Hong Kong dollars ("HKD")
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4
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Aggregate Nominal Amount of Notes:
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(a) Series:
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HKD 155,000,000
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(b) Tranche:
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HKD 155,000,000
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5
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Issue Price:
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100 per cent. of the Aggregate Nominal Amount
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6
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(a) Specified Denominations:
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HKD 1,000,000
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(b) Calculation Amount:
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HKD 1,000,000
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7
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(a) Issue Date:
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19 June 2020
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(b) Interest Commencement Date:
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Issue Date
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8
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Maturity Date:
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19 June 2023
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9
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Interest Basis:
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2.25 per cent. Fixed Rate
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10
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Redemption/Payment Basis:
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Redemption at par
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11
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Change of Interest or Redemption/Payment Basis:
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Not Applicable
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12
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Put/Call Options:
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Not Applicable
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13
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(a) Status of the Notes:
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Senior
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(b) Status of the Guarantee:
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Senior
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(c) [Date [Board] approval for issuance of Notes [and Guarantee] obtained:
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Not Applicable
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PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
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14
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Fixed Rate Note Provisions:
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Applicable
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(a) Rate of Interest:
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2.35 per cent. per annum payable annually in arrear
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(b) Interest Payment Date(s):
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19 June in each year adjusted in accordance with
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(c) Fixed Coupon Amount:
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HKD 23,500 per Calculation Amount
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(d) Broken Amount(s):
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Not Applicable
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(e) Day Count Fraction:
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Actual/365(Fixed)
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(f) Determination Dates:
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Not Applicable
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(g) Other terms relating to the method of calculating interest for Fixed Rate Notes:
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Not Applicable
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15
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Floating Rate Note Provisions:
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Not Applicable
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16
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Zero Coupon Note Provisions:
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Not Applicable
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PROVISIONS RELATING TO REDEMPTION
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17
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Call Option:
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Not Applicable
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18
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Put Option:
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Not Applicable
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19
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Change of Control Put:
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Not Applicable
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20
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Final Redemption Amount of each Note:
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HKD 1,000,000 per Calculation Amount
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21
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Early Redemption Amount:
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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):
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HKD 1,000,000
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GENERAL PROVISIONS APPLICABLE TO THE NOTES
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22
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Form of Notes:
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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
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23
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Financial Centre(s) or other special provisions relating to payment dates:
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London and New York
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24
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Talons for future Coupons to be attached to Definitive Notes (and dates on which such Talons mature):
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No
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25
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Prohibition of Sales to EEA and UK Retail Investors:
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Not Applicable
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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
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1
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Listing
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(a) Listing:
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London
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(b) Admission to trading:
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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.
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(c) Estimate of total expenses related to admission to trading:
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GBP 645.00
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2
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Ratings:
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The Notes to be issued have been rated:
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S&P: A
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3
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Interests of Natural and Legal Persons Involved in the Issue
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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.
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4
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Reasons for the Offer and Estimated Net Proceeds
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(a) Reasons for the offer:
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Not Applicable
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(b)]Estimated net proceeds:
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Not Applicable
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5
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Fixed Rate Notes only-Yield
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Indication of yield:
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2.35 per cent.
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The yield is calculated at the Issue Date on the basis of the Issue Price. It is not an indication of future yield.
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6
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Operational Information
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ISIN:
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XS2190445937
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Common Code:
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219044593
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CFI:
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See the website of the Association of National Numbering Agencies (ANNA) or alternatively sourced from the National Numbering Agency that assigned the ISIN
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FISN:
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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
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Any clearing system(s) other than Euroclear Bank SA/NV and Clearstream Banking S.A. and the relevant identification number(s):
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Not Applicable
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Names and addresses of initial Paying Agent(s):
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As per the Issuer's Medium Term Note Programme
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Names and addresses of additional Paying Agent(s) (if any):
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Not Applicable
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7
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Distribution
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(a) Method of distribution:
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Non-syndicated
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(b) If syndicated, names of Managers:
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Not Applicable
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(c) Stabilisation Manager(s) (if any):
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Not Applicable
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(d) If non-syndicated, name of Dealer:
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Barclays Bank PLC
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(e) US Selling Restrictions:
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[Reg. S Compliance Category [1/2/3];
TEFRA C/TEFRA D/TEFRA not applicable]
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END
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