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QNB Finance Ltd (77NQ)

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Tuesday 09 February, 2021

QNB Finance Ltd

Publication of Final Terms (ISIN: XS2297657285)

RNS Number : 2325O
QNB Finance Ltd
09 February 2021
 

 

Final Terms dated 4 February 2021

 

QNB Finance Ltd
(LEI: 549300MY0DXTHQEX5O57)


Issue of EUR 20,000,000 0.115 per cent. Notes due 9 February 2024
Guaranteed by Qatar National Bank (Q.P.S.C.)
under the U.S.$22,500,000,000
Medium Term Note Programme

UK MiFIR 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 only eligible counterparties, as defined in the FCA Handbook Conduct of Business Sourcebook ("COBS"), and professional clients, as defined in Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 ("UK MiFIR"); 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 FCA Handbook Product Intervention and Product Governance Sourcebook (the "UK MiFIR Product Governance Rules") 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 supplements thereto dated 14 April 2020, 7 August 2020, 13 October 2020 and 18 January 2021, which together constitute a base prospectus (the "Prospectus") for the purposes of Regulation (EU) No 2017/565 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 (EUWA) (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.

1

(a) Issuer:

QNB Finance Ltd

 

(b) Guarantor:

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

2

(a) Series Number:

321

 

(b) Tranche Number:

1

3

Specified Currency or Currencies:

Euro ("EUR")

4

Aggregate Nominal Amount of Notes:

 

 

(a) Series:

EUR 20,000,000

 

(b)Tranche:

EUR 20,000,000

5

Issue Price:

100.00 per cent. of the Aggregate Nominal Amount

6

(a) Specified Denominations:

EUR 200,000

 

(b) Calculation Amount:

EUR 200,000

7

(a) Issue Date:

9 February 2021

 

(b) Interest Commencement Date:

Issue Date

8

Maturity Date:

9 February 2024

9

Interest Basis:

0.115 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:

0.115 per cent. per annum payable annually in arrear

 

 

(b)  Interest Payment Dates:

9 February in each year, from and including 9 February 2022, to and including 9 February 2024, adjusted in accordance with the Following Business Day Convention

 

 

(c)  Fixed Coupon Amount:

EUR 230 per Calculation Amount

 

 

(d)  Broken Amount:

Not Applicable

 

 

(e)  Day Count Fraction:

Actual/Actual (ICMA)

 

 

(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

Put Option:

Not Applicable

19

Change of Control Put:

Not Applicable

20

Final Redemption Amount of each Note:

EUR 200,000 per Calculation Amount

21

Early Redemption Amount:

As per the Conditions

 

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):

 

 

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, London and TARGET

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

1

Listing

 

 

(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 9 February 2021.

 

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

GBP 645

2

Ratings:

The Notes to be issued have been rated:

 

 

S&P: A

3

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.

4

Reasons for the Offer and Estimated Net Proceeds

 

(a)  Reasons for the offer:

General corporate purposes

 

(b)  Estimated net proceeds:

Not Applicable

5

Fixed Rate Notes only-Yield

 

 

Indication of yield:

0.115 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.

6

Operational Information

 

 

ISIN:

XS2297657285

 

Common Code:

229765728

 

CFI:

DTFUFB, 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

 

FISN:

QNB FINANCE LIM/.115EMTN 20240209, 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

 

 

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

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:

Merrill Lynch International

 

(e)   US Selling Restrictions:

Reg. S Compliance Category 2;

TEFRA D

 

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