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QNB Finance Ltd (77NQ)

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Tuesday 23 February, 2021

QNB Finance Ltd

Publication of Final Terms (ISIN: XS2297886710)

RNS Number : 2608P
QNB Finance Ltd
23 February 2021
 

FINAL TERMS

  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 23 February 2021

 

QNB Finance Ltd
(LEI: 549300MY0DXTHQEX5O57)


Issue of CNY 150,000,000 Fixed Rate Notes due 25 February 2026


Guaranteed by Qatar National Bank (Q.P.S.C.)
under the U.S.$22,500,000,000
Medium Term Note Programme

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 13 October 2020, 18 March 2020 and the supplement(s) thereto dated 18 January 2021, which together constitutes 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:

324

 

(b) Tranche Number:

1

3

Specified Currency or Currencies:

Chinese Renminbi ("CNY")

* Purchasers of the CDs should note that the Renminbi is not a freely convertible currency. All payments in respect of the CDs will be made solely by transfer to a Renminbi bank account maintained in Hong Kong in accordance with prevailing rules and regulations. The Issuer cannot be required to make payment by any other means (including in currency or by transfer to a bank account in the PRC). In addition, there can be no assurance that access to Renminbi funds for the purposes of making payments on the CDs or generally may not remain or become restricted.

4

Aggregate Nominal Amount of Notes:

 

 

(a) Series:

CNY 150,000,000

 

(b) Tranche:

CNY 150,000,000

5

Issue Price:

100 per cent. of the Aggregate Nominal Amount

6

(a) Specified Denominations:

CNY 1,000,000

 

(b) Calculation Amount:

CNY 1,000,000

7

(a) Issue Date:

25 February 2021

 

(b) Interest Commencement Date:

Issue Date

8

Maturity Date:

25 February 2026

9

Interest Basis:

3.30 per cent. per annum 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) 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(s) of Interest:

3.30 per cent. per annum payable annually in arrear

 

 

(b)  Interest Payment Date(s):

The first Coupon Payment Date is 25 Febuary 2022. The subsequent coupon payment dates are on 25th of February of each year with the Final Coupon Payment Date falls on the Maturity Date, subject to adjustment and in accordance with the Modified Following Business Day Convention

 

 

(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), adjusted

 

 

(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:

CNY 1,000,000 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):

As per 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 Hong Kong

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:

London

 

(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 the London Stock Exchange's Regulated Market with effect from 26 February 2021.

 

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

GBP 645

2

Ratings:

Not Applicable

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:

CNY 150,000,000

5

Fixed Rate Notes only-Yield

 

 

Indication of yield:

3.30 per cent per annum payable at annually in arrear

 

 

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:

XS2297886710

 

Common Code:

229788671

 

CFI:

Not Available

 

FISN:

Not Available

 

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:

Standard Chartered Bank

 

(e)   US Selling Restrictions:

Reg. S Compliance Category 2; TEFRA D

 

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