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QNB Finance Ltd (77NQ)

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Wednesday 09 December, 2020

QNB Finance Ltd

Publication of Final Terms (ISIN: XS2267891468)

RNS Number : 7909H
QNB Finance Ltd
09 December 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 dated 9 December 2020

 

QNB Finance Ltd
(LEI: 549300MY0DXTHQEX5O57)


Issue of CNY 200,000,000.00 Fixed Rate Notes due December 2030
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 the Prospectus Directive. 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:

307


(b) Tranche Number:

1

3

Specified Currency or Currencies:

Offshore Renminbi (CNY)

4

Aggregate Nominal Amount of Notes:

CNY 200,000,000.00


(a) Series:

CNY 200,000,000.00


(b) Tranche:

CNY 200,000,000.00

5

Issue Price:

100.00 per cent. of the Aggregate Nominal Amount

6

(a) Specified Denominations:

CNY 1,000,000.00


(b) Calculation Amount:

CNY 1,000,000.00

7

(a) Issue Date:

11 December 2020


(b) Interest Commencement Date:

Issue Date

8

Maturity Date:

11 December2030

9

Interest Basis:

3.97 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:

3.97 per cent. per annum payable annually in arrear

 


(b)  Interest Payment Date(s):

Annually on 11 December in each year, commencing on 11 December 2021 up to and including the Maturity Date

 


(c)  Fixed Coupon Amount:

To be determined by the Calculation Agent

 


(d)  Broken Amount(s):

Not Applicable

 


(e)  Day Count Fraction:

ACT/365 (Fixed), adjusted

 


(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:

CNY 1,000,000.00 per Calculation Amount

21

Early Redemption Amount:

Not Applicable

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:

Hong Kong, New York City 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:

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 and other associated costs:

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 3,795.00

2

Ratings:

Not Applicable

3

Reasons for the Offer and Estimated Net Proceeds


(a)  Reasons for the offer:

General corporate purposes

4

Fixed Rate Notes only-Yield



Indication of yield:

3.97 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.

5

Operational Information



ISIN:

XS2267891468


Common Code:

226789146


CFI:

DTFUFB


FISN:

QNB FINANCE LIM/3.97EMTN 20301211


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

6

Distribution



(a)   Method of distribution:

Non-syndicated


(b)   If syndicated, names of Managers:

Not Applicable


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

Not Applicable


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

Crédit Agricole Corporate and Investment Bank


(e)   US Selling Restrictions:

Reg. S Compliance Category 2

TEFRA D

 

 

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