Bond Rabbobank 4% ( XS1592433038 ) in USD

Rabbobank

100 % ▲

Netherlands

XS1592433038 ( in USD )

4% per year ( payment 2 times a year)

09/04/2029

Prospectus brochure of the bond Rabobank XS1592433038 en USD 4%, maturity 09/04/2029

200 000 USD

500 000 000 USD

10/10/2025 ( In 23 days )

Rabobank is a Dutch cooperative bank with a strong international focus on the food and agribusiness sectors.

The Bond issued by Rabbobank ( Netherlands ) , in USD, with the ISIN code XS1592433038, pays a coupon of 4% per year.
The coupons are paid 2 times per year and the Bond maturity is 09/04/2029

EXECUTION VERSION
FINAL TERMS

COÖPERATIEVE RABOBANK U.A.
(a cooperative (coöperatie) formed under the laws of the Netherlands with its statutory seat in
Amsterdam)

EUR 30,000,000,000 Tier 2 Notes Programme
SERIES NO: 1T2
TRANCHE NO: 1
USD500,000,000 4.000 per cent. Callable Resettable
Dated Subordinated Notes 2017 due April 2029 (the "Notes")
Issue Price: 99.349 per cent.

Citigroup
Goldman Sachs International
Morgan Stanley
Rabobank

The date of these Final Terms is 6 April 2017

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 Base Prospectus dated 20 December 2016 and the
Supplemental Prospectus dated 16 February 2017 (together, the "Base Prospectus") which together
constitute a base prospectus for the purposes of Directive 2003/71/EC (and amendments thereto,
including Directive 2010/73/EU) (the "Prospectus Directive"). This document constitutes the Final
Terms of the Notes described herein for the purposes of Article 5.4 of the Prospectus Directive and must
be read in conjunction with the Base Prospectus. Full information on the Issuer and the offer of the Notes
is only available on the basis of the combination of these Final Terms and the Base Prospectus. The
Base Prospectus is available for viewing at, and copies may be obtained from, Rabobank at Croeselaan
18, 3521 CB Utrecht, the Netherlands and the principal office of the Paying Agent in Luxembourg,
Amsterdam and www.bourse.lu.
Each potential investor in the Notes must determine the suitability of that investment in
light of its own circumstances. A potential investor should not invest in Notes which are complex
financial instruments unless it has the expertise (either alone or with a financial adviser) to
evaluate how the Notes will perform under changing conditions, the resulting effects on the value
of the Notes and the impact this investment will have on the potential investor's overall
investment portfolio.

1
Issuer:
Coöperatieve Rabobank U.A.
2
(i)
Series Number:
1T2

(ii) Tranche Number:
1

(iii) Date on which the Notes become fungible:
Not Applicable
3
Specified Currency or Currencies:
U.S. Dollar ("USD")
4
Aggregate nominal amount:

(i)
Series:
USD500,000,000

(ii) Tranche:
USD500,000,000
5
Issue Price:
99.349 per cent. of the aggregate nominal
amount
6
(i)
Specified Denominations:
USD 200,000

(ii) Calculation Amount:
USD 200,000
7
(i)
Issue Date:
10 April 2017

(ii) Interest Commencement Date:
As specified in Condition 1
8
Maturity Date:
10 April 2029
9
Interest Basis:
4.000 per cent. to be reset on 10 April 2024
(the "First Reset Date")
(further particulars specified below)
10 Redemption/Payment Basis:
Subject to any purchase and cancellation or
early redemption, the Notes will be redeemed
on the Maturity Date at 100 per cent. of their
nominal amount
11 Call Option:
Call Option

Further particulars specified below

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A33805311

12 Status of the Notes:
Subordinated

PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
13 Fixed Rate Note Provisions
Not Applicable
14 Fixed Rate Reset Note Provisions
Applicable

(i)
Initial Rate of Interest:
4.000 per cent. per annum payable semi
annually in arrear

(ii) Interest Payment Date(s):
April 10 and October 10 in each year,
commencing on 10 October 2017 (the "First
Interest Payment Date") up to and including
the Maturity Date

(iii) First Reset Rate of Interest:
Reset Rate plus Margin as specified below

(iv) Subsequent Reset Rate:
Not Applicable

(v) Anniversary Date(s):
Not Applicable

(vi) Reset Determination Date(s):
10 April 2024

(vii) Reset Rate:
Semi-annualised Mid-Swap Rate

(viii) Swap Rate Period:
5 years

(ix) Screen Page:
USSW5

(x) Fixed Leg:
Not Applicable

(xi) Floating Leg:
Not Applicable

(xii) Margin(s):
+1.892 per cent. per annum

(xiii) Fixed Coupon Amount(s) in respect of the USD4,000 per Calculation Amount
period from (and including) the Interest
Commencement Date up to (but excluding)
the First Reset Date:

(xiv) Broken Amount(s):
Not Applicable

(xv) Day Count Fraction (Condition 1(a)):
30/360

(xvi) Determination Date(s) (Condition 1(a)):
April 10 and October 10 in each year

(xvii) Party responsible for calculating the Rates of Calculation Agent
Interest and Interest Amounts:
15 Floating Rate Note Provisions
Not Applicable

PROVISIONS RELATING TO REDEMPTION
16 Call Option
Applicable

(i)
Optional Redemption Date(s):
10 April 2024

(ii) Optional Redemption Amount(s):
USD200,000 per Calculation Amount

(iii) If redeemable in part:

Minimum Redemption Amount:
Not Applicable

Maximum Redemption Amount:
Not Applicable

(iv) Notice period:
Condition 6(b)(iii) shall apply
17 Regulatory Call
Applicable
18 Early Redemption

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A33805311

Early Redemption Amount(s) payable per
USD200,000 per Calculation Amount
Calculation Amount on redemption (a) following a
Capital Event (Condition 6(e)); or (b) following a
Tax Law Change (Condition 6(d)):

Notice period (a) following a Capital Event
Condition 6(b)(iii) shall apply
(Condition 6(e)); or (b) following a Tax Law Change
(Condition 6(d)):
19 Final Redemption Amount of each Note
USD200,000 per Calculation Amount
20 Taxation

Condition 8 applicable to payments of principal:
No

GENERAL PROVISIONS APPLICABLE TO THE NOTES
21 Form of Notes
Bearer Notes

Temporary Global Note exchangeable for a
permanent Global Note not earlier than 40
days after the completion of the distribution of
the Tranche of which such Note is a part nor
later than 40 days prior to the first anniversary
of the Issue Date (i.e. 1 March 2018) which is
exchangeable for Definitive Notes at any
time/in the limited circumstances specified in
the permanent Global Note
22 New Global Notes:
Yes
23 Financial Centre(s) (Condition 7(i)):
London, New York, TARGET
LISTING AND ADMISSION TO TRADING APPLICATION
These Final Terms comprise the final terms required to list and have admitted to trading the issue
of Notes described herein pursuant to the EUR 30,000,000,000 Tier 2 Notes Programme of Rabobank.

Signed on behalf of the Issuer
By:

Duly authorised

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A33805311

PART B OTHER INFORMATION
1
Listing

(i)
Listing:
Euronext Amsterdam

(ii) Admission to trading:
Application has been made for the Notes to
be admitted to trading on Euronext
Amsterdam with effect from the Issue Date

(iii) Estimate of total expenses related to 7,000
admission to trading:

(iv) In the case of Notes listed on Euronext Applicable
Amsterdam:

(a) Amsterdam Listing Agent:
Coöperatieve Rabobank U.A.

(b) Amsterdam Paying Agent:
Coöperatieve Rabobank U.A.
2
Ratings

Rating:
The Notes to be issued are
expected to be rated:

Fitch: A

Moody's: A3

Standard & Poor's: BBB+

Each of Fitch, Moody's and Standard &
Poor's is established in the EU and
registered under Regulation (EC) No
1060/2009 (the "CRA Regulation").
3
Interests of natural and legal persons involved in the offer

Save for any fees payable to the Managers, so far as the Issuer is aware, no person involved in
the offer of the Notes has an interest material to the offer. The Managers/ and their affiliates have
engaged, and may in the future engage, in investment banking and/or commercial banking
transactions with, and may perform other services for, the Issuer and its affiliates in the ordinary
course of business.
4
Yield

Indication of yield:
4.108 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.
5
Operational information

(i)
Intended to be held in a manner which would No. Whilst the designation is specified as
allow Eurosystem eligibility:
"no" at the date of these Final Terms,
should the Eurosystem eligibility criteria be
amended in the future such that the Notes
are capable of meeting them the Notes may
then be deposited with one of the ICSDs as
common safekeeper. Note that this does not
necessarily mean that the Notes will then be
recognised as eligible collateral for
Eurosystem monetary policy and intra day

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A33805311

credit operations by the Eurosystem at any
time during their life. Such recognition will
depend upon the ECB being satisfied that
Eurosystem eligibility criteria have been
met.

(ii) ISIN:
XS1592433038

(iii) Common Code:
159243303

(iv) Any clearing system(s) other than Euroclear Not Applicable
and Clearstream, Luxembourg and the
relevant number(s):

(v) Delivery:
Delivery against payment

(vi) Names
and
addresses
of
additional Not Applicable
Paying/Delivery Agent(s) (if any):

(vii) Names (and addresses) of Calculation Deutsche Bank AG, London Branch,
Agent(s):
Winchester House, 1 Great Winchester
Street, London EC2N 2DB, United Kingdom
6
Distribution

(i)
Method of distribution:
Syndicated

(ii) If syndicated, names and addresses of Citigroup Global Markets Limited
Managers:
Citigroup Centre
Canada Square
Canary Wharf
London E14 5LB
United Kingdom
Goldman Sachs International
Peterborough Court
133 Fleet Street
London EC4A 2BB
United Kingdom
Coöperatieve Rabobank U.A.
Thames Court
One Queenhithe
London EC4V 3RL
United Kingdom
Morgan Stanley & Co. International plc
25 Cabot Square
Canary Wharf
London E14 4QA
United Kingdom

(iii) If non-syndicated, name and address of Not Applicable
Dealer:

(iv) Applicable TEFRA exemption:
TEFRA D

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A33805311