QNB Finance Ltd Publication of Final Terms (ISIN XS2427254177) (8484X)
January 10 2022 - 1:00AM
UK Regulatory
TIDM77NQ
RNS Number : 8484X
QNB Finance Ltd
09 January 2022
Final Terms dated 6 January 2022
QNB Finance Ltd
(LEI: 549300MY0DXTHQEX5O57)
Issue of USD 20,000,000 0.57 per cent Fixed Rate Notesdue 10
January 2023
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 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 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 manufacturer's 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
manufacturer's target market assessment) and determining
appropriate distribution channels.
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 (the "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")]
[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
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 17 March 2021 which constitutes 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 is 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: 388
(b) Tranche Number: 1
3 Specified Currency or Currencies: USD ("USD")
4 Aggregate Nominal Amount USD 20,000,000
of Notes:
(a) Series: USD 20,000,000
(b) Tranche: USD 20,000,000
5 Issue Price: 100 per cent. of the Aggregate
Nominal Amount
6 (a) Specified Denominations: USD 200,000
(b) Calculation Amount: USD 200,000
7 (a) Issue Date: 10 January 2022
(b) Interest Commencement Issue Date
Date:
8 Maturity Date: 10 January 2023
9 Interest Basis: 0.57 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 issuance Not Applicable
of Notes obtained:
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
14 Fixed Rate Note Provisions: Applicable
(a) Rate of Interest: 0.57 per cent. per annum payable
semi-annually in arrear
(b) Interest Payment Dates: 10 July and 10 January in each
year
Not adjusted
(c) Fixed Coupon Amount: 570 per Calculation Amount
(d) Broken Amount: Not Applicable
(e) Day Count Fraction: 30/360 Following Un-Adjusted
(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
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 100 per Calculation Amount
of each Note:
21 Early Redemption Amount: Not Applicable
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 London, New York
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 has been 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 the Issue Date
(c) Estimate of total expenses GBP 695.00
related to admission to
trading:
2 Ratings: The Notes to be issued have
been unrated
3 Interests of Natural and Legal Persons Involved in the
Issue/Offer
Save as discussed in "Subscription and Sales/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 19,999,061
5 Yield
Indication of yield: 0.57
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: XS2427254177
Common Code: 242725417
CFI: DTFUFB
FISN: QNB FINANCE LIM/.57EMTN 20230110
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): One Canada Square
London E14 5AL
Trade Date: 30 December 2021
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, Goldman Sachs International
name of Dealer: Plumtree Court
25 Shoe Lane
London EC4A 4AU
(e) US Selling Restrictions: Reg. S Compliance Category 1;
TEFRA D
(f) Additional selling Not Applicable
restrictions:
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END
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