Obligation DNB Boligfinans 0.59% ( NO0010866064 ) en NOK

DNB Boligfinans

100 % ▼

Norvege

NO0010866064 ( en NOK )

0.59% par an ( paiement trimestriel )

15/10/2024 - Obligation échue

Prospectus brochure de l'obligation DNB Boligkreditt NO0010866064 en NOK 0.59%, échue

2 000 000 NOK

7 000 000 000 NOK

DNB Boligkreditt est une société de crédit hypothécaire norvégienne, filiale de DNB, l'un des plus grands groupes financiers de Norvège, offrant des prêts hypothécaires résidentiels aux particuliers et aux entreprises.

L'obligation DNB Boligkreditt (ISIN : NO0010866064), émise en Norvège pour un montant total de 7 000 000 000 NOK, avec une taille minimale d'achat de 2 000 000 NOK, un taux d'intérêt de 0,59 %, une fréquence de paiement trimestrielle et une maturité au 15/10/2024, a été remboursée à son échéance à 100 % de sa valeur nominale.

FINAL TERMS
PROHIBITION OF SALES TO EEA RETAIL INVESTORS The Covered Bonds 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"); or (i ) a customer within
the meaning of Directive 2002/92/EC (as amended or superseded) (the "Insurance Mediation
Directive") 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 the Prospectus Directive.
Consequently no key information document required by Regulation (EU) No. 1286/2014 (as
amended) (the "PRIIPs Regulation") for offering or selling the Covered Bonds or otherwise making
them available to retail investors in the EEA has been prepared and therefore offering or selling the
Covered Bonds or otherwise making them available to any retail investor in the EEA may be unlawful
under the PRIIPs Regulation.
MIFID II product governance / Professional investors and ECPs only target market
Solely for the purposes of each manufacturer's product approval process, the target market
assessment in respect of the Covered Bonds has led to the conclusion that: (i) the target market for
the Covered Bonds is eligible counterparties and professional clients only, each as defined in MiFID
II; and (ii) all channels for distribution of the Covered Bonds to eligible counterparties and professional
clients are appropriate. Any person subsequently offering, selling or recommending the Covered
Bonds (a "distributor") should take into consideration the manufacturers' target market assessment;
however, a distributor subject to MiFID II is responsible for undertaking its own target market
assessment in respect of the Covered Bonds (by either adopting or refining the manufacturers' target
market assessment) and determining appropriate distribution channels.
14 October 2019
DNB Boligkreditt AS
Legal entity identifier (LEI): 5967007LIEEXZX659K67
Issue of
NOK 7,000,000,000 Floating Rate Covered Bonds due October 2024 (the "Covered Bonds")
under the 60,000,000,000 Covered Bond Programme
PART A CONTRACTUAL TERMS
Terms used herein shall be deemed to be defined as such for the purposes of the Conditions
set forth in the Base Prospectus dated 21 June 2019 and the supplement to the Base Prospectus
dated 11 July 2019 which together constitute a base prospectus for the purposes of the Prospectus
Directive (the "Base Prospectus"). This document constitutes the Final Terms of the Covered Bonds
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 Covered
Bonds is only available on the basis of the combination of these Final Terms and the Base
Prospectus. The Base Prospectus and the supplement have been published on the website of
Euronext Dublin at www.ise.ie.

1
Issuer:
DNB Boligkreditt AS
2
(i)
Series Number:
204
(ii)
Tranche Number:
1
(iii)
Date on which the Covered Bonds will be Not Applicable
consolidated and form a single Series:
3
Specified Currency or Currencies:
Norwegian Kroner ("NOK")

4
Aggregate Nominal Amount:

Series:
NOK 7,000,000,000
Tranche:
NOK 7,000,000,000
5
Issue Price:
100.00 per cent. of the Aggregate Nominal
Amount
6
(i)
Specified Denominations:
NOK 2,000,000
(ii)
Calculation Amount:
NOK 2,000,000
7
(i)
Issue Date:
16 October 2019
(ii)
Interest Commencement Date:

(a)
Period to Maturity Date:
Issue Date
(b)
Period from Maturity Date up to Maturity Date
Extended Maturity Date:
8
(i)
Maturity Date:
Interest Payment Date falling in or nearest
to October 2024
(ii)
Extended Maturity Date:
Applicable

The Extended Maturity Date is the Interest
Payment Date falling in or nearest to
October 2025.

In accordance with the Conditions and
these Final Terms, if the Issuer fails to
redeem the Covered Bonds in full on the
Maturity Date or within two Business Days
thereafter, the maturity of the principal
amount outstanding of the Covered Bonds
will automatically be extended up to one
year to the Extended Maturity Date without
constituting an event of default or giving
holders of the Covered Bonds any right to
accelerate payments on the Covered
Bonds. In that event, the interest rate
payable on, and the interest periods and
Interest Payment Dates, in respect of the
Covered Bonds, will change from those that
applied up to the Maturity Date and the
Issuer may redeem all or part of the
principal amount outstanding of those
Covered Bonds on an Interest Payment
Date falling in any month after the Maturity
Date up to and including the Extended
Maturity Date, all in accordance with the
Conditions and these Final Terms. See
Conditions 3(e) and 5(i).
9
Interest Basis:

(i)
Period to (and including) Maturity Date:
3 month NIBOR + 0.27 per cent. Floating
Rate

(further particulars specified in paragraph
14 below)
2

(ii)
Period from (but excluding) Maturity Date 3 month NIBOR + 0.27 per cent. Floating
up to (and including) Extended Maturity Rate
Date:
(further particulars specified in paragraph
14 below)
10
Redemption Basis:
Subject to any purchase and cancellation or
early redemption, the Covered Bonds will
be redeemed on the Maturity Date at 100
per cent. of their nominal amount.
11
Change of Interest Basis:
Not Applicable
12
Put/Call Options:
Not Applicable
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
13
Fixed Rate Covered Bond Provisions

(I)
To Maturity Date:
Not Applicable
(II)
From Maturity Date up to Extended Not Applicable
Maturity Date:

14
Floating Rate Covered Bond Provisions

(I)
To Maturity Date:
Applicable
(II)
From Maturity Date up to Extended Applicable
Maturity Date:

(i)
Specified Period(s)/Specified

Interest Payment Dates:
(a)
To Maturity Date:
16 January, 16 April, 16 July and 16
October in each year, from and including 16
January 2020 up to and including the
Maturity Date, subject to adjustment in
accordance
with
the
Business
Day
Convention set out in (ii) below
(b)
From Maturity Date up to
16 January 2025, 16 April 2025, 16 July
Extended Maturity Date:
2025 and 16 October 2025, subject to
adjustment in accordance with the Business
Day Convention set out in (ii) below
(ii)
Business Day Convention:

(a)
To Maturity Date:
Modified Following Business Day
Convention
(b)
From Maturity Date up to Modified Following Business Day
Extended Maturity Date:
Convention
(iii)
Additional Business Centre(s):

(a)
To Maturity Date:
Not Applicable
(b)
From Maturity Date up to
Not Applicable
Extended Maturity Date:
(iv)
Manner in which the Rate of

Interest and Interest Amount is to
be determined:
3

(a)
To Maturity Date:
Screen Rate Determination
(b)
From Maturity Date up to
Screen Rate Determination
Extended Maturity Date:
(v)
Party responsible for calculating

the Rate of Interest and Interest
Amount (if not the Fiscal Agent):
(a)
To Maturity Date:
DNB Bank ASA, DNB Markets
(b)
From Maturity Date up to
DNB Bank ASA, DNB Markets
Extended Maturity Date:
(vi)
Screen Rate Determination:

(a)
To Maturity Date:

-
Reference Rate:
3 month NIBOR
-
Interest
Second Oslo business day prior to the start
Determination
of each Interest Period
Date(s):

-
Relevant Screen www.oslobors.no
Page:

(b)
From Maturity Date up to

Extended Maturity Date:
3 month NIBOR
-
Reference Rate:
-
Interest
Second Oslo business day prior to the start
Determination
of each Interest Period
Date(s):

-
Relevant Screen www.oslobors.no
Page:

(vii)
ISDA Determination

(a)
To Maturity Date:

-
Floating
Rate Not Applicable
Option:
-
Designated
Not Applicable
Maturity:
-
Reset Date:
Not Applicable

(b)
From Maturity Date up to

Extended Maturity Date:
-
Floating
Rate Not Applicable
Option:
4

-
Designated
Not Applicable
Maturity:
-
Reset Date:
Not Applicable
(viii)
Linear Interpolation:

(a)
To Maturity Date:
Not Applicable
(b)
From Maturity Date up to Not Applicable
Extended Maturity Date:
(ix)
Margin(s):

(a)
To Maturity Date:
+ 0.27 per cent. per annum
(b)
From Maturity Date up to + 0.27 per cent. per annum
Extended Maturity Date:
(x)
Minimum Rate of Interest:

(a)
To Maturity Date:
Not Applicable
(b)
From Maturity Date up to Not Applicable
Extended Maturity Date:
(xi)
Maximum Rate of Interest:

(a)
To Maturity Date:
Not Applicable
(b)
From Maturity Date up to
Not Applicable
Extended Maturity Date:
(xii)
Day Count Fraction:

(a)
To Maturity Date:
Actual/360
(b)
From Maturity Date up to
Actual/360
Extended Maturity Date:

(xiii)
Benchmark Discontinuation:
Applicable
15
Zero Coupon Covered Bond Provisions
Not Applicable
PROVISIONS RELATING TO REDEMPTION

16
Issuer Call
Not Applicable
17
Investor Put
Not Applicable
18
Final Redemption Amount of each Covered
NOK 2,000,000 per Calculation Amount
Bond:
19
Early Redemption Amount(s) per Calculation
NOK 2,000,000 per Calculation Amount
Amount payable on redemption for taxation
reasons or on event of default:
GENERAL PROVISIONS APPLICABLE TO THE COVERED BONDS
20
Form of Covered Bonds:

(i)
Form:
VP Systems Covered Bonds issued in
uncertificated and dematerialised book
entry form
(ii)
New Global Covered Bond:
No
21
Additional Financial Centre(s):
Not Applicable
5

PART B OTHER INFORMATION

1
LISTING AND ADMISSION TO TRADING
(i)
Listing and admission to trading:
Application has been made to the Oslo
Stock Exchange (Oslo Børs ASA) for the

Covered Bonds to be listed on the regulated
market of the Oslo Stock Exchange with
effect from the Issue Date.
(ii)
Estimate of total expenses related to
NOK 39,960
admission to trading:
2
RATINGS:
The Covered Bonds to be issued are
expected to be rated "Aaa" by Moody's
Investors Service Limited ("Moody's") and
"AAA" by S&P Global Ratings Europe
Limited ("S&P").

Each of Moody's and S&P is established in
the European Union and is registered under
Regulation
(EC)
No.
1060/2009
(as
amended) (the "CRA Regulation") and is
on the list of registered credit rating
agencies published on ESMA website:
http://www.esma.europa.eu/page/List-
registered-and-certified-CRAs.
3
INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE:
Save for the fees payable to the Joint Lead Managers, so far as the Issuer is aware, no
person involved in the issue of the Covered Bonds has an interest material to the offer. The
Joint Lead 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:
Not Applicable
5
HISTORIC INTEREST RATES:
Details of historical NIBOR rates can be obtained from the Oslo Børs' webpage (or any
successor page).
6
OPERATIONAL INFORMATION:

(i)
ISIN:
NO 0010866064
(ii)
Common Code:
206674008
(iii)
CFI:
See the website of the Association of
National Numbering Agencies (ANNA) or
alternatively sourced from the responsible
National Numbering Agency that assigned
the ISIN
(iv)
FISN:
See the website of the Association of
National Numbering Agencies (ANNA) or
alternatively sourced from the responsible
National Numbering Agency that assigned
the ISIN
7

(v)
Any clearing system(s) other than
Verdipapirsentralen,
Norway.
VPS
Euroclear, Clearstream, Luxembourg
identification number: 985 140 421. The
(together with the address of each
Issuer shall be entitled to obtain certain
such clearing system) and the
information from the register maintained by
relevant identification number(s):
VPS for the purposes of performing its
obligations under the issue of VPS Covered
Bonds
(vi)
Delivery:
Delivery against payment
(vii)
Names and addresses of additional
DNB Bank ASA, Verdipapirservice
Paying Agent(s) (if any):
(viii)
Intended to be held in a manner which
No. Whilst the designation is specified as
would allow Eurosystem eligibility:
"no" at the date of the Final Terms, should
the
Eurosystem
eligibility
criteria
be
amended in the future such that the
Covered Bonds are capable of meeting
them the Covered Bonds may then be
deposited with one of the ICSDs as
common safekeeper. Note that this does not
necessarily mean that the Covered Bonds
will be recognised as eligible collateral for
Eurosystem monetary policy and intra-day
credit operations by the Eurosystem either
upon issue or at any or all times during their
life. Such recognition will depend upon the
ECB being satisfied that Eurosystem
eligibility criteria have been met.
7
DISTRIBUTION

(i)
Method of distribution:
Syndicated
(ii)
If syndicated, names of Managers:
Joint Lead Managers:
Danske Bank A/S
DNB Bank ASA
Nordea Bank Abp
(iii)
Date of Subscription Agreement:
14 October 2019
(iv)
If non-syndicated, name of relevant Not Applicable
Dealer:
(v)
U.S. Selling restrictions:
TEFRA not applicable
(vi)
Prohibition of Sales to EEA Retail Applicable
Investors:

(vii)
Prohibition of Sales to Belgium Applicable
Consumers:

8