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Name | Symbol | Market | Type |
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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 | |
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0.00 | 0.00% | 0 | - |
TIDM77NQ
RNS Number : 8247Z
QNB Finance Ltd
27 January 2022
FINAL TERMS
Final Terms dated 26 January 2022
QNB Finance Ltd
(LEI: 549300MY0DXTHQEX5O57)
Issue of USD 27,000,000 Floating Rate Notes due 28 January 2027
Guaranteed by Qatar National Bank (Q.P.S.C.)
under the U.S.$22,500,000,000
Medium Term Note Programme
PART A - CONTRACTUAL TERMS
Terms used herein shall be deemed to be defined as such for the purposes of the terms and conditions (the "Conditions") set forth in the prospectus dated 17 March 2021 and the supplement thereto dated 12 July 2021, 1 October 2021 and 18 January 2022, which together constitute a base prospectus (the "Prospectus") for the purposes of Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the EUWA (the "UK Prospectus Regulation"). This document constitutes the Final Terms of the Notes described herein for the purposes of the UK Prospectus Regulation and must be read in conjunction with the Prospectus in order to obtain all the relevant information. The Prospectus and the supplement thereto are available for viewing at the market news section of the London Stock Exchange website (www.londonstockexchange.com/exchange/news/market-news/market-news-home.html) and during normal business hours at the registered offices of the Issuer at c/o Maples Corporate Services Limited, P.O. Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands, and copies may be obtained from the registered offices of the Fiscal Agent at One Canada Square, London E14 5AL, United Kingdom.
1 (a) Issuer: QNB Finance Ltd (b) Guarantor: Qatar National Bank (Q.P.S.C.) 2 (a) Series Number: 396 (b) Tranche Number: 1 3 Specified Currency or Currencies: U.S dollars ("U.S.$") 4 Aggregate Nominal Amount of Notes: (a) Series: USD 27,000,000 (b) Tranche: USD 27,000,000 5 Issue Price: 100 per cent. of the Aggregate Nominal Amount 6 (a) Specified Denominations: USD 200,000 and integral multiples of USD 1,000 in excess thereof (b) Calculation Amount: USD 1,000 7 (a) Issue Date: 28 January 2022 (b) Interest Commencement Issue Date Date: 8 Maturity Date: 28 January 2027 9 Interest Basis: Compounded Daily SOFR + 1.02 per cent. per annum Floating 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 Not Applicable for issuance of Notes and Guarantee obtained:
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
14 Fixed Rate Note Provisions: Not Applicable 15 Floating Rate Note Provisions: Applicable (a) Interest Period(s): The initial Coupon Period is the period from and including the Issue Date up to but excluding the first Coupon Payment Date. Each subsequent Coupon Period is the period from and including a Coupon Payment Date up to but excluding the next Coupon Payment Date The end date of each Interest Period shall be subject to adjustment in accordance with the Business Day Convention specified in paragraph 15(e) below (b) Specified Interest Payment The first coupon payment date Dates: is 28 April 2022. Each subsequent coupon payment date is on the 28(th) day of January, April, July and October of each year up to and including the Maturity Date , subject, in each case, to adjustment in accordance with the Business Day Convention specified in paragraph 15(e) below (c) First Interest Payment 28 April 2022, subject to adjustment Date: in accordance with the Business Day Convention specified in paragraph 15(e) below (d) Interest Period Date: Not Applicable (e) Business Day Convention: Modified Following Business Day Convention (f) Business Centre(s): New York and London (g) Manner in which the Screen Rate Determination Rate(s) of Interest is/are to be determined: (h) Party responsible for Principle Paying Agent calculating the Rate(s) of Interest and/or Interest Amount(s) (if not the [Fiscal Agent]): (i) Screen Rate Determination: SOFR Benchmark - Reference Rate: Compounded Daily SOFR The Coupon for each relevant Interest Period shall be determined by the Calculation Agent as at each Interest Determination Date. - Interest Determination Five U.S. Government Securities Date(s): Business Days prior to each Interest Period Date - Relevant Time: Not Applicable - Relevant Screen Page: Not Applicable - Relevant Financial Centre: Not Applicable - SOFR Benchmark: Compounded Daily SOFR - Compounded SOFR Average: Not Applicable - Lookback Days: 5 U.S. Government Securities Business Day(s) - SOFR Observation Shift Not Applicable Days: - Interest Payment Delay Not Applicable Days: - SOFR Rate Cut-Off Date: Not Applicable - SOFR IndexStart: Not Applicable - SOFR IndexEnd: Not Applicable - D: 360 - Fallback Provisions: As per program (j) ISDA Determination: - Floating Rate Option: Not applicable - Designated Maturity: Not applicable - Reset Date: Not applicable (k) Linear Interpolation: Not applicable (l) Margin(s): +1.02 per cent. per annum (m) Minimum Rate of Interest: 0 per cent. per annum (n) Maximum Rate of Interest: Not Applicable (o) Day Count Fraction: Actual/360, adjusted (p) Fall back provisions, As per the Conditions rounding provisions, denominator and any other terms relating to the method of calculating interest on Floating Rate Notes, if different from those set out in the Conditions: (q) ISDA Definitions: 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 USD 1,000 per Calculation Amount of each Note: 21 Early Redemption Amount: Applicable Early Redemption Amount(s) As per the Conditions 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 New York and 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 Retail Investors: 26 Prohibition of Sales to Not Applicable 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 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 Main Market with effect from 31 January 2022. (c) Estimate of total expenses GBP 695 related to admission to trading: 2 Ratings: The Notes to be issued have not been rated: 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: USD 27,000,000 5 Fixed Rate Notes only-Yield Indication of yield: Not Applicable 6 Operational Information ISIN: XS2438701513 Common Code: 243870151 CFI: Not Available FISN: Not Available 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): Trade Date: 24 January 2022 7 Distribution (a) Method of distribution: Non-syndicated (b) If syndicated, names Not Applicable of Managers: (c) Stabilisation Manager(s) Not Applicable (if any): (d) If non-syndicated, Standard Chartered Bank name of Dealer: (e) US Selling Restrictions: Reg. S Compliance Category 2; TEFRA D (f) Additional selling Not Applicable restrictions:
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END
PFTBKOBKPBKKCDB
(END) Dow Jones Newswires
January 27, 2022 06:59 ET (11:59 GMT)
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