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QNB Finance Ltd (77NQ)

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Tuesday 22 September, 2020

QNB Finance Ltd

Publication of Final Terms (ISIN: XS2230302544)

RNS Number : 6985Z
QNB Finance Ltd
22 September 2020
 

Final Terms dated 22 September 2020

 

 

 

Q NB Finance Ltd

( LEI : 549300MY0DXTHQEX5O57)

 

 

Is s ue of CNY138,000,000 3.63 per cent. Notes due 2023

G uaranteed by Qatar National Bank (Q.P.S.C.)

under the U.S.$22,500,000,000

M edium Term Note Programme

 

M iFID 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.

 

Singapore SFA Product Classification : In connection with Section 309B of the Securities and Futures Act

( C h apter 289) of Singapore (the "SFA") and the Securities and Futures (Capital Markets Products) Regulations

201 8 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

R ecommendations 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

202 0 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 supplements thereto are available for viewing at the market news section of the London Stock Exchange website ( www . l ondon s t o c k e x c h a n g e . c om /e x c h a n g e/ n ews/ma rk e t -n e ws / m a rk e t-n ews -hom e .h t m l ) 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:

QNBFinanceLtd


 

(b )Guarantor:

 

QatarNationalBank(Q.P.S.C.)

 

2

 

( a)SeriesNumber:

 

288


 

(b )TrancheNumber:

 

1

 

3

 

SpecifiedCurrencyorCurrencies:

 

C h ineseYuan("CNY")

 

4

 

AggregateNominalAmountofNotes:

 

C NY138,000,000

 

5

 

Is s uePrice:

 

10 0percent.oftheAggregateNominalAmount


 

6

( a)SpecifiedDenominations:

C NY1,000,000


 

(b ) CalculationAmount:

 

C NY1,000,000

 

7

 

( a)IssueDate:

 

2 4 September2020


 

(b )InterestCommencementDate:

 

I ss u eDate

 

8

 

M at urityDate:

 

2 4 September2023,asadjustedpursuantto

C ond ition6(a)

 

9

 

I nterestBasis:

 

3.6 3percent.FixedRate

 

10

 

Redemption/PaymentBasis:

 

R edemptionatpar

 

11

 

Changeof Interestor

Redemption/PaymentBasis:

 

NotApplicable

 

12

 

Put/CallOptions:

 

NotApplicable

 

13

 

( a)StatusoftheNotes:

 

Senior


 

(b )StatusoftheGuarantee:

 

Senior


 

( c)DateBoardapprovalforissuanceof

NotesandGuaranteeobtained:

 

NotApplicable

 

 

PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE

 

14

FixedRateNoteProvisions:

Applicable


 

( a)  RateofInterest:

 

3.6 3percent.per annumpayableannuallyinarrear


 

(b )InterestPaymentDate(s):

 

2 4 Septemberin eachyearuptoandincludingthe MaturityDate,commencingon24 September2021, ineachcase,asadjustedpursuantto Condition5(a)


 

( c)  FixedCouponAmount:

 

NotApplicable


 

(d )BrokenAmount(s):

 

NotApplicable


 

( e)  Day CountFraction:

 

Actual/365(Fixed)


 

(f )  DeterminationDates:

 

NotApplicable


 

(g )Othertermsrelatingtothemethodof calculatinginterestforFixedRateNotes:

 

In terestPeriodDates:24 Septemberin eachyearup

toandincluding24 September2023,commencingon

2 4 September2021,ineachcase,notsubjecttoany adjustment

 

15

 

FloatingRateNoteProvisions:

 

NotApplicable

 

16

 

Z eroCouponNoteProvisions:

 

NotApplicable


PROVISIONS RELATING TO REDEMPTION

 

17

CallOption:

NotApplicable

 

18

 

PutOption:

 

NotApplicable

 

19

 

ChangeofControlPut:

 

NotApplicable

 

20

 

FinalRedemptionAmountofeachNote:

 

C NY1,000,000perCalculationAmount

 

21

 

E a rlyRedemptionAmount:

 

Applicable


 

EarlyRedemptionAmount(s)perCalculationAmountpayableonredemptionfortaxation reasonsoroneventofdefaultorotherearlyredemptionand/orthemethodofcalculatingthe same(ifrequiredorifdifferentfrom that setoutinthe Conditions):

 

C NY1,000,000

 

 

 

G E NERAL PROVISIONS APPLICABLE TO THE NOTES

 

22

FormofNotes:

B earerNotes:

 

TemporaryGlobalNoteexchangeablefora PermanentGlobalNotewhichisexchangeablefor DefinitiveNotesinthelimitedcircumstances specifiedinthePermanentGlobalNote

 

23

 

FinancialCentre(s)orotherspecial provisionsrelatingtopaymentdates:

 

HongKong,LondonandNewYork

 

24

 

T a lonsforfutureCouponstobeattached toDefinitiveNotes(anddatesonwhich suchTalonsmature):

 

No

 

25

 

ProhibitionofSalesto EEAandUKRetail

I nvestors:

 

NotApplicable


Signed on behalf of QNB Finance Ltd:

 

B y : ...........................................................

Duly authorised

 

Signed on behalf of Qatar National Bank (Q.P.S.C.): By: ...........................................................

Duly authorised


PART B - OTHER INFORMATION

 

1

L isting



( a)  Listing:

London


 

(b )Admissiontotrading:

 

ApplicationhasbeenmadebytheIssuer(oronits behalf)fortheNotestobeadmittedtotradingonthe LondonStockExchange'sRegulatedMarketwith effectfromoraround24 September2020.


( c)  Estimateoftotalexpensesrelatedto admissiontotrading:

GBP645

 

2

 

Ratings:

 

TheNotestobeissuedhave notbeenrated.

3

I nterestsofNaturalandLegalPersonsInvolvedintheIssue/Offer

Saveasdiscussedin"SubscriptionandSale/GeneralInformation",sofarastheIssuerisaware,no

p ersoninvolvedintheofferoftheNoteshasaninterestmaterialtotheoffer.

4

ReasonsfortheOfferandEstimatedNetProceeds


( a)  Reasonsfortheoffer:

Generalcorporatepurposes


 

(b )Estimatednetproceeds:

 

C NY138,000,000

 

5

 

FixedRateNotesonly-Yield



Ind icationofyield:

3.6 3percent.per annum.

Theyieldis calculatedattheIssueDateonthebasis oftheIssuePrice.Itis notanindicationoffuture yield.

6

O perationalInformation



I SIN:

XS2230302544


C ommo nCode:

223 0 30 2 5 4


C FI:

DTFUFB,asupdated,assetoutonthewebsiteof theAssociationofNationalNumberingAgencies (ANNA)oralternativelysourcedfromtheNational NumberingAgencythatassignedtheISIN


FISN:

QNBFINANCELIM/3.63EMTN20230924,as updated,assetoutonthewebsiteoftheAssociation ofNationalNumberingAgencies(ANNA)or alternativelysourcedfromtheNationalNumbering AgencythatassignedtheISIN


Anyclearingsystem(s)other thanEuroclear BankSA/NVandClearstreamBankingS.A. andtherelevantidentificationnumber(s):

NotApplicable


NamesandaddressesofinitialPaying

Agent(s):

TheBankofNewYorkMellon,actingthroughits

LondonBranch

OneCanadaSquare LondonE145AL UnitedKingdom


NamesandaddressesofadditionalPaying

Agent(s)(ifany):

NotApplicable


 

7

Distribution



 

( a)  Methodofdistribution:

 

Non-Syndicated


 

(b )  If syndicated,namesofManagers:

 

NotApplicable


 

( c)  StabilisationManager(s)(ifany):

 

NotApplicable


 

(d )  If non-syndicated,nameofDealer:

 

MorganStanley& Co.Internationalplc


 

( e)  USSellingRestrictions:

 

R eg.S ComplianceCategory2; TEFRAD applicable

 

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