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QNB Finance Ltd (77NQ)

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Wednesday 26 August, 2020

QNB Finance Ltd

Publication of Final Terms (ISIN: XS2223112686)

RNS Number : 1970X
QNB Finance Ltd
26 August 2020
 

Final Terms dated 26 August 2020

 

QNB Finance Ltd
(LEI: 549300MY0DXTHQEX5O57)


Issue of USD 25,000,000 Fixed Rate Notes due 28 August 2023
Guaranteed by Qatar National Bank (Q.P.S.C.)
under the U.S.$22,500,000,000
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(s) thereto dated 14 April 2020 and 7 August 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:

281

 

(b) Tranche Number:

1

3

Specified Currency or Currencies:

United States Dollar (USD)

4

Aggregate Nominal Amount of Notes:

 

 

(a) Series:

USD25,000,000

 

(b) Tranche:

USD25,000,000

5

Issue Price:

100.00 per cent. of the Aggregate Nominal Amount

6

(a) Specified Denominations:

USD200,000 and integral multiples of USD100,000 thereafter

 

(b) Calculation Amount:

USD100,000

7

(a) Issue Date:

28 August 2020

 

(b) Interest Commencement Date:

Issue Date

8

Maturity Date:

28 August 2023

9

Interest Basis:

1.09 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:

1.09 per cent. per annum payable semi-annually in arrear

 

 

(b)  Interest Payment Date(s):

28 February and 28 August in each year from, and including, 28 February 2021 to, and including, 28 August 2023, adjusted in accordance with the Following Business Day Convention

 

 

(c)  Fixed Coupon Amount:

USD545 per Calculation Amount

 

 

(d)  Broken Amount(s):

Not Applicable

 

 

(e)  Day Count Fraction:

30/360

 

 

(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:

USD100,000 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):

USD100,000 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:

New York 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 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

 

(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 the Issue Date

 

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

GBP 645

The Notes to be issued have not been rated

 

So far as the Issuer is aware, no person involved in the offer of the Notes has an interest material to the offer.

 

(a)  Reasons for the offer:

General corporate purposes

 

(b)  Estimated net proceeds:

Not Applicable

 

 

Indication of yield:

1.09 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.

 

 

ISIN:

XS2223112686

 

Common Code:

222311268

 

CFI:

DTFUFB

 

FISN:

QNB FINANCE LIM/1.0988EMTN 20230828

 

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:

Citigroup Global Markets Limited

 

(e)   US Selling Restrictions:

Reg. S Compliance Category 2;

TEFRA D

 

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