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| Name | Symbol | Market | Type |
|---|---|---|---|
| Qnb Fin 27 | LSE:77NQ | London | Medium Term Loan |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0 | - |
From Jul 2019 to Jul 2024
TIDM77NQ
RNS Number : 6779M
QNB Finance Ltd
24 January 2021
Final Terms dated 21 January 2021
QNB Finance Ltd
(LEI: 549300MY0DXTHQEX5O57)
Issue of U.S.$1,000,000,000 1.375 per cent. Notes due 2026
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 each 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 manufacturers' 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 manufacturers' target market assessment) and determining appropriate distribution channels.
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, 7 August 2020, 13 October 2020 and 18 January 2021, 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.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.
Hot Features
Premium
1 (a) Issuer: QNB Finance Ltd
(b) Guarantor: Qatar National Bank (Q.P.S.C.)
2 (a) Series Number: 318
(b) Tranche Number: 1
3 Specified Currency or Currencies: U.S. dollars ("U.S.$")
4 Aggregate Nominal Amount U.S.$1,000,000,000
of Notes:
5 Issue Price: 99.501 per cent. of the Aggregate
Nominal Amount
6 (a) Specified Denominations: U.S.$200,000 and integral multiples
of U.S.$1,000 in excess thereof
(b) Calculation Amount: U.S.$1,000
7 (a) Issue Date: 26 January 2021
(b) Interest Commencement Issue Date
Date:
8 Maturity Date: 26 January 2026
9 Interest Basis: 1.375 per cent. per annum Fixed
Rate
10 Redemption/Payment Basis: Redemption at par
11 Change of Interest or Redemption/Payment Not Applicable
Basis:
12 Put/Call Options: Not Applicable
13 (a) Status of the Notes: Senior
(b) Status of the Guarantee: Senior
(c) Date Board approval 21 January 2021 (in respect
for issuance of Notes and of the Notes)
Guarantee obtained: Not Applicable (in respect
of the Guarantee)
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
14 Fixed Rate Note Provisions: Applicable
(a) Rate of Interest: 1.375 per cent. per annum payable
semi-annually in arrear
(b) Interest Payment Date(s): 26 January and 26 July in each
year up to and including the
Maturity Date, commencing on
26 July 2021
(c) Fixed Coupon Amount: U.S.$6.875 per Calculation Amount
(d) Broken Amount(s): Not Applicable
(e) Day Count Fraction: 30/360
(f) Determination Dates: Not Applicable
(g) Other terms relating Not Applicable
to the method of calculating
interest for Fixed Rate
Notes:
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 U.S.$1,000 per Calculation Amount
of each Note:
21 Early Redemption Amount: Applicable
Early Redemption Amount(s) U.S.$1,000
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: 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 London
special provisions relating
to payment dates:
24 Talons for future Coupons No
to be attached to Definitive
Notes (and dates on which
such Talons mature):
25 Prohibition of Sales to Not Applicable
EEA and UK Retail Investors:
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 or around 26
January 2021.
(c) Estimate of total expenses GBP 5,040
related to admission to
trading:
2 Ratings: The Notes to be issued have
been rated:
S&P: A
Moody's: Aa3
Fitch: A+
As defined by S&P, an obligation
rated 'A' is somewhat more susceptible
to the adverse effects of changes
in circumstances and economic
conditions than obligations
in higher-rated categories.
However, the obligor's capacity
to meet its financial commitments
on the obligation is still strong.
As defined by Moody's, obligations
rated 'Aa3' are judged to be
of high quality are subject
to very low credit risk. The
modifier "3" indicates a ranking
in the lower end of the 'Aa'
generic category.
As defined by Fitch, a rating
of 'A' denotes expecations of
low credit risk. The capacity
for payment of financial commitments
is considered strong. This capacity
may, nevertheless, be more vulnerable
to adverse business or economic
conditions than is the case
for higher ratings. The modifier
"+" indicates a ranking in the
higher end of the "A" rating
category.
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: U.S.$993,510,000
5 Fixed Rate Notes only-Yield
Indication of yield: 1.479 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: XS2287744218
Common Code: 228774421
CFI: 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: 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) Not Applicable
other than Euroclear Bank
SA/NV and Clearstream Banking
S.A. and the relevant identification
number(s):
Names and addresses of The Bank of New York Mellon,
initial Paying Agent(s): acting through its London Branch
One Canada Square
London E14 5AL
United Kingdom
Names and addresses of Not Applicable
additional Paying Agent(s)
(if any):
7 Distribution
(a) Method of distribution: Syndicated
(b) If syndicated, names Crédit Agricole Corporate
of Managers: and Investment Bank, London
Branch, HSBC Bank plc, Mizuho
International plc, QNB Capital
LLC and Standard Chartered Bank
(c) Stabilisation Manager(s) Standard Chartered Bank
(if any):
(d) If non-syndicated, Not Applicable
name of Dealer:
(e) US Selling Restrictions: Reg. S Compliance Category 2;
TEFRA not applicable
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END
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(END) Dow Jones Newswires
January 25, 2021 02:00 ET (07:00 GMT)
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