TIDM77NQ
RNS Number : 6901U
QNB Finance Ltd
09 April 2021
PRICING SUPPLEMENT
NO PROSPECTUS IS REQUIRED IN ACCORDANCE WITH THE UK PROSPECTUS
REGULATION FOR THE ISSUE OF THE INSTRUMENTS DESCRIBED BELOW. THE
UNITED KINGDOM FINANCIAL CONDUCT AUTHORITY HAS NEITHER APPROVED NOR
REVIEWED ANY INFORMATION CONTAINED IN THIS PRICING SUPPLEMENT AND
ANY INSTRUMENTS ISSUED PURSUANT TO THIS PRICING SUPPLEMENT ARE NOT
COMPLIANT WITH THE UK PROSPECTUS REGULATION.
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 PR Exempt Instruments has led to the conclusion that: (i)
the target market for the PR Exempt Instruments 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 (the "UK
MiFIR"); and (ii) all channels for distribution of the PR Exempt
Instruments to eligible counterparties and professional clients are
appropriate. Any person subsequently offering, selling or
recommending the PR Exempt Instruments (a "distributor") should
take into consideration the manufacturer's target market
assessment; however, a distributor subject to the 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 PR Exempt
Instruments (by either adopting or refining the manufacturer's
target market assessment) and determining appropriate distribution
channels.
Pricing Supplement dated 31 March 2021
QNB Finance Ltd
(LEI: 549300MY0DXTHQEX5O57)
Issue of CNY 140,000,000 3.18 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
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, which constitute listing
particulars (the "Listing Particulars"). This document constitutes
the Pricing Supplement of the PR Exempt Instruments described
herein and must be read in conjunction with the Listing
Particulars. This document does not constitute listing particulars
that the FCA has reviewed or approved pursuant to Listing Rule 4 of
the FCA Handbook. Full information on the Issuer and the offer of
the PR Exempt Instruments is only available on the basis of the
combination of this Pricing Supplement and the Listing Particulars.
The Listing Particulars is available for viewing 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: 336
(b) Tranche Number: 1
3 Specified Currency or Currencies: Chinese Renminbi ("CNY")
4 Aggregate Nominal Amount
of Notes:
(a) Series: CNY 140,000,000
(b) Tranche: CNY 140,000,000
5 Issue Price: 100 per cent. of the Aggregate
Nominal Amount
6 (a) Specified Denominations: CNY 10,000
(b) Calculation Amount: CNY 10,000
7 (a) Issue Date: 9 April 2021
(b) Interest Commencement Issue Date
Date:
8 Maturity Date: 9 April 2026, as adjusted pursuant
to Condition 6(a)
9 Interest Basis: 3.18 per cent. 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) Board approval for Not Applicable
issuance of Notes and Guarantee
obtained:
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
14 Fixed Rate Note Provisions: Applicable
(a) Rate(s) of Interest: 3.18 per cent. per annum payable
semi-annually in arrear
(b) Interest Payment Date(s): 9 April and 9 October in each
year commencing on 9
October 2021 and ending on the
Maturity Date, in each
case as adjusted pursuant to
Condition 5(a)
(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)
(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 CNY 10,000 per Calculation Amount
of each Note:
21 Early Redemption Amount: Applicable
Early Redemption Amount(s) CNY 10,000
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: 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, London and Hong Kong
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:
27 Other terms or special conditions: 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: International Securities Market
of the London Stock Exchange
(the "ISM")
(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 ISM with effect
from 9 April 2021.
(c) Estimate of total expenses GBP 695
related to admission to
trading:
2 Ratings: The Notes to be issued have
been rated:
Moody's: Aa3
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 140,000,000
5 Fixed Rate Notes only-Yield
Indication of yield: 3.18 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: XS2325374002
Common Code: 232537400
CFI: DTFXFB
FISN: QNB FINANCE LTD/3.18 MTN 20260409
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: 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
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