TIDM77NQ
RNS Number : 6963A
QNB Finance Ltd
03 June 2021
PROHIBITION OF SALES TO EEA RETAIL INVESTORS - The Notes are not
intended to be offered, sold or otherwise made available to and
should not be offered, sold or otherwise made available to any
retail investor in the European Economic Area ("EEA"). For these
purposes, a retail investor means a person who is one (or more) of:
(i) a retail client as defined in point (11) of Article 4(1) of
Directive 2014/65/EU (as amended, "MiFID II"); (ii) a customer
within the meaning of Directive (EU) 2016/97 (the "IDD"), where
that customer would not qualify as a professional client as defined
in point (10) of Article 4(1) of MiFID II; or (iii) not a qualified
investor as defined in Regulation (EU) 2017/1129 (the "Prospectus
Regulation"). Consequently, no key information document required by
Regulation (EU) No 1286/2014 (as amended, the "PRIIPs Regulation")
for offering or selling the Notes or otherwise making them
available to retail investors in the EEA has been prepared and
therefore offering or selling the Notes or otherwise making them
available to any retail investor in the EEA may be unlawful under
the PRIIPs Regulation.
PROHIBITION OF SALES TO UK RETAIL INVESTORS - The Notes are not
intended to be offered, sold or otherwise made available to and
should not be offered, sold or otherwise made available to any
retail investor in the United Kingdom ("UK"). For these purposes, a
retail investor means a person who is one (or more) of: (i) a
retail client, as defined in point (8) of Article 2 of Regulation
(EU) No 2017/565 as it forms part of domestic law by virtue of the
European Union (Withdrawal) Act 2018 ("EUWA"); (ii) a customer
within the meaning of the provisions of the Financial Services and
Markets Act 2000 (the "FSMA") and any rules or regulations made
under the FSMA to implement Directive (EU) 2016/97, where that
customer would not qualify as a professional client, as defined in
point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it
forms part of domestic law by virtue of the EUWA ("UK MiFIR"); or
(iii) not a qualified investor as defined in Article 2 of
Regulation (EU) 2017/1129 as it forms part of domestic law by
virtue of the EUWA (the "UK Prospectus Regulation"). Consequently,
no key information document required by Regulation (EU) No
1286/2014 as it forms part of domestic law by virtue of the EUWA
(the "UK PRIIPs Regulation") for offering or selling the Notes or
otherwise making them available to retail investors in the UK has
been prepared and therefore offering or selling the Notes or
otherwise making them available to any retail investor in the UK
may be unlawful under the UK PRIIPs Regulation.
Final Terms dated 1 June 2021
QNB Finance Ltd
(LEI: 549300MY0DXTHQEX5O57)
Issue of CHF 85,000,000 Fixed Rate Notes due 3 June 2024
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") 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 supplement thereto
dated 12 April 2021, 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: 352
(b) Tranche Number: 1
3 Specified Currency or Currencies: Swiss Francs ("CHF")
4 Aggregate Nominal Amount CHF 85,000,000
of Notes:
(a) Series: CHF 85,000,000
(b) Tranche: CHF 85,000,000
5 Issue Price: 100.00 per cent. of the Aggregate
Nominal Amount
6 (a) Specified Denominations: CHF 200,000
(b) Calculation Amount: CHF 200,000
7 (a) Issue Date: 3 June 2021
(b) Interest Commencement Issue Date
Date:
8 Maturity Date: 3 June 2024
9 Interest Basis: 0.025 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) Date Board approval Not Applicable
for issuance of Notes and
Guarantee obtained:
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
14 Fixed Rate Note Provisions: Applicable
(a) Rate[(s)] of Interest: 0.025 per cent. per annum payable
annually/ in arrear
(b) Interest Payment Date(s): 3 June in each year adjusted
in accordance with the Following
Business Day Convention for which
the applicable Business Centres
shall be London, New York and
Zurich
(c) Fixed Coupon Amount[(s)]: CHF 50.00 per Calculation Amount
(d) Broken Amount(s): Not Applicable
(e) Day Count Fraction: 30/360 unadjusted
(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 CHF 200,000 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 London, New York and Zurich
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 Applicable
EEA Retail Investors:
26 Prohibition of Sales to 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 3 June 2021.
(c) Estimate of total expenses GBP 4,010.00
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
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: CHF 85,000,000
5 Fixed Rate Notes only-Yield
Indication of yield: 0.025 per cent.
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: XS2348724944
Common Code: 234872494
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):
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, Daiwa Capital Markets Europe
name of Dealer: Limited
(e) US Selling Restrictions: Reg. S Compliance Category 2;
TEFRA D
(f) Additional selling Not Applicable
restrictions:
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END
PFTDKNBQQBKKCAK
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June 03, 2021 07:00 ET (11:00 GMT)
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