QNB Finance Ltd Publication of Final Terms (ISIN XS2433158677) (8293Y)
January 18 2022 - 6:00AM
UK Regulatory
TIDM77NQ
RNS Number : 8293Y
QNB Finance Ltd
18 January 2022
FINAL TERMS
Final Terms dated 17 January 2022
QNB Finance Ltd
(LEI: 549300MY0DXTHQEX5O57)
Issue of USD 25,000,000 Floating Rate Notes due January 2027
Guaranteed by Qatar National Bank (Q.P.S.C.)
under the U.S.$22,500,000,000
Medium Term Note Programme
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 and the supplements thereto
dated 12 April 2021, 12 July 2021 and 11 October 2021, which
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") 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 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.
1 (a) Issuer: QNB Finance Ltd
(b) Guarantor: Qatar National Bank (Q.P.S.C.)
2 (a) Series Number: 392
(b) Tranche Number: 1
3 Specified Currency or Currencies: United States Dollars ("USD")
4 Aggregate Nominal Amount
of Notes:
(a) Series: USD 25,000,000
(b) Tranche: USD 25,000,000
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: 19 January 2022
(b) Interest Commencement Issue Date
Date:
8 Maturity Date: 19 January 2027
9 Interest Basis: Compounded SOFR + 0.987 per
cent. 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) Board approval for issuance Not Applicable
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 Interest Period is
the period from and including
the Issue Date up to but excluding
the First Interest Payment Date.
Each subsequent Interest Period
is the period from and including
an Interest Payment Date up to
but excluding the next Interest
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 is 19
Dates: April 2022. Each subsequent interest
payment is on the 19(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 19 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): London and New York
(g) Manner in which the Screen Rate Determination
Rate(s) of Interest is/are
to be determined:
(h) Party responsible for Principal 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
- 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: Condition 5(j)(1) (Independent
Adviser)
(j) ISDA Determination: Not Applicable
(k) Linear Interpolation: Not applicable
(l) Margin(s): +0.987 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 of USD 200,000 per Calculation
each Note: Amount
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 and 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 rated:
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: USD 25,000,000
5 Operational Information
ISIN: XS2433158677
Common Code: 243315867
CFI: See the website of the Association
of National Numbering Agencies
(ANNA) or alternatively sourced
from the National Numbering
Agency that assigned the ISIN
FISN: See 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):
Trade Date: 10 January 2022
6 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, HSBC Bank plc
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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