Information  X 
Enter a valid email address

QNB Finance Ltd (77NQ)

  Print      Mail a friend

Monday 14 September, 2020

QNB Finance Ltd

Publication of Final Terms (ISIN: XS2227817876)

RNS Number : 8186Y
QNB Finance Ltd
14 September 2020
 

PROHIBITION OF SALES TO EEA AND UK 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 ") or in the United Kingdom (the " UK "). 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 (EU) 2016/97 (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 Regulation (EU) 2017/1129 (the " Prospectus Regulation "). Consequently no key information document required by Regulation (EU) No 1286/2014 (as amended, the " PRIIPs Regulation ") for offering or selling the Notes or otherwise making them available to retail investors in the EEA or in the UK has been prepared and therefore offering or selling the Notes or otherwise making them available to any retail investor in the EEA or in the UK may be unlawful under the PRIIPs Regulation.

Final Terms

Final Terms dated 7 September 2020

 

QNB Finance Ltd
(LEI: 549300MY0DXTHQEX5O57)

Issue of CNY 750,000,000 3.80 per cent. Notes due 2025
Guaranteed by Qatar National Bank (Q.P.S.C.)
under the U.S.$22,500,000,000
Medium Term Note Programme

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 supplements thereto dated 14 April 2020 and 7 August 2020, which together constitute a base prospectus (the "Prospectus") for the purposes of 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 supplements 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.

 

(a)  Issuer:

QNB Finance Ltd

 

(b)  Guarantor:

Qatar National Bank (Q.P.S.C.)

(a)  Series Number:

285

 

(b)  Tranche Number:

1

Specified Currency or Currencies:

Chinese Renminbi ("CNY")

Aggregate Nominal Amount of Notes:

CNY 750,000,000

 

(a)  Series:

CNY 750,000,000

Issue Price:

100 per cent. of the Aggregate Nominal Amount

(a)  Specified Denominations:

CNY 1,000,000 and integral multiples of CNY 10,000 in excess thereof

 

(b)  Calculation Amount:

CNY 10,000

(a)  Issue Date:

15 September 2020

 

(b)   Interest Commencement   Date:

Issue Date

Maturity Date:

15 September 2025, as adjusted pursuant to Condition 6(a)

Interest Basis:

3.80 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:

3.80 per cent. per annum payable annually in arrear

 

(b)  Interest Payment Date(s):

15 September in each year commencing on 15 September 2021 and ending on the Maturity Date, in each case as adjusted pursuant to Condition 5(a)

 

(c)  Fixed Coupon Amount(s):

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 CNY0.01, CNY0.005 being rounded upwards

 

(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 

P utOption:

Not Applicable

19 

Change of Control Put:

Not Applicable

20 

Final Redemption Amount of each Note:

CNY 10,000 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 10,000

GENERAL PROVISIONS APPLICABLE TO THE NOTES

22 

Form of Notes:

Registered Notes:

 

 

Regulation S Global Note registered in the name of a nominee for a common depositary for Euroclear and Clearstream, Luxembourg

23 

Financial Centre(s) or other special provisions relating to payment dates:

London, New York, Taipei

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:

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

 

Listing

 

 

(a)  Listing:

London and Taipei

 

(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 both (i) the London Stock Exchange's Regulated Market with effect from 15 September 2020, and (ii) on the Taipei Exchange ("TPEx") in the Republic of China ("ROC") for the listing and trading of the Notes on the TPEx. The Notes will be traded on the TPEx pursuant to the applicable rules of the TPEx. Effective date of listing of the Notes on the TPEx is expected on or about 15 September 2020.

TPEx is not responsible for the content of this document and the Prospectus and any supplement or amendment thereto and no representation is made by TPEx to the accuracy or completeness of this document and the Prospectus and any supplement or amendment thereto. TPEx expressly disclaims any and all liability for any losses arising from, or as a result of the reliance on, all or part of the contents of this document and the Prospectus and any supplement or amendment thereto. Admission to the listing and trading of the Notes on the TPEx shall not be taken as an indication of the merits of the Issuer, the Guarantor or the Notes.

 

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

GBP3,795 + VAT in relation to admission to trading of the Notes on the regulated market of the London Stock Exchange and NTD70,000 in relation to the listing and trading of the Notes on the TPEx.

Ratings

The Notes to be issued have been rated:

Moody's: Aa3

 

 

As defined by Moody's, obligations rated 'Aa3' are judged to be of high quality and are subject to very low credit risk. The modifier "3" indicates a ranking in the lower end of the 'Aa' generic category.

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.

Reasons for the Offer and Estimated Net Proceeds

 

(a)   Reasons for the offer:

General Corporate Purposes

 

(b)  Estimated net proceeds:

CNY 750,000,000

Fixed Rate Notes only - Yield

 

 

Indication of yield:

3.80 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.

Operational Information

 

 

ISIN:

XS2227817876

 

Common Code:

222781787

 

CFI:

DBFUFR

 

FISN:

QNB FINANCE LIM/3.8EMTN 20250915

 

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 7

Distribution

 

 

(a)   Method of distribution:

Non-Syndicated

 

(b)   If syndicated, names of   Managers:

 

 

(c)   Stabilisation Manager(s) (if   any):

Not Applicable

 

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

Crédit Agricole Corporate and Investment Bank, Taipei Branch

 

(e)   US Selling Restrictions:

Reg. S Compliance Category 2 TEFRA not applicable

 

 

 

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
PFTKKNBPOBKKKCD

a d v e r t i s e m e n t