Obligation Komunalbanken 3% ( XS0669838541 ) en NOK

Société émettrice Komunalbanken
Prix sur le marché 100 %  ⇌ 
Pays  Norvege
Code ISIN  XS0669838541 ( en NOK )
Coupon 3% par an ( paiement annuel )
Echéance 02/09/2016 - Obligation échue



Prospectus brochure de l'obligation Kommunalbanken XS0669838541 en NOK 3%, échue


Montant Minimal 10 000 NOK
Montant de l'émission 2 325 000 000 NOK
Description détaillée Kommunalbanken est une banque publique norvégienne qui fournit des services financiers aux municipalités et aux autres entités publiques norvégiennes.

L'Obligation émise par Komunalbanken ( Norvege ) , en NOK, avec le code ISIN XS0669838541, paye un coupon de 3% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 02/09/2016








Final Terms dated 13 December 2011
KOMMUNALBANKEN AS
Issue of
NOK 200,000,000 3.000 per cent. Instruments due 2 September 2016
(the "Instruments")
(to be consolidated and form a single Series with the NOK 500,000,000
3.000 per cent. Instruments due 2 September 2016 issued on 2 September 2011, the
NOK 100,000,000 3.000 per cent. Instruments due 2 September 2016 issued on 11
October 2011 and the NOK 100,000,000 3.000 per cent. Instruments due 2 September
2016 issued on 18 November 2011
(the "Original Instruments"))

UNDER THE PROGRAMME
FOR THE ISSUANCE OF DEBT INSTRUMENTS
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 19 April 2011, which constitutes a base prospectus for
the purposes of the Prospectus Directive (Directive 2003/71/EC, as amended) (the
"Prospectus Directive"). This document constitutes the Final Terms of the Instruments
described herein for the purposes of Article 5.4 of the Prospectus Directive and must be read
in conjunction with such Base Prospectus. Full information on the Issuer and the offer of the
Instruments 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 Kommunalbanken AS,
Haakon VIIs Gate 5b, 0110 Oslo, Norway and Deutsche Bank AG, London Branch,
Winchester House, 1 Great Winchester Street, London EC2N 2DB, United Kingdom and on
the website of the Luxembourg Stock Exchange (www.bourse.lu) and copies may be obtained
from Kommunalbanken AS, Haakon VIIs Gate 5b, 0110 Oslo, Norway and Deutsche Bank
AG, London Branch, Winchester House, 1 Great Winchester Street, London EC2N 2DB,
United Kingdom.
1.
Issuer:
Kommunalbanken AS
2.
(i)
Series Number:
3818

(ii)
Tranche Number:
4
The Instruments will, on their Issue Date, be
consolidated and will form a single Series with
the Original Instruments.
3.
Specified Currency or Currencies:
Norwegian Krone ("NOK")
4.
Aggregate Principal Amount:


(i)
Series:
NOK 900,000,000
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(ii)
Tranche:
NOK 200,000,000
5.
Issue Price:
(1) In respect of NOK 100,000,000 as of trade
date 5 December 2011:
101.616 per cent. of the Aggregate Principal
Amount of the Instruments
(2) In respect of NOK 100,000,000 as of trade
date 7 December 2011:
101.755 per cent. of the Aggregate Principal
Amount of the Instruments
plus 105 days' accrued interest of NOK
1,721,311.48 for the period from, and
including, 2 September 2011 to, but excluding,
the Issue Date.
6.
(i)
Specified Denominations:
NOK 10,000

(ii)
Calculation Amount:
NOK 10,000
7.
(i)
Issue Date:
16 December 2011

(ii)
Interest Commencement Date:
2 September 2011
8.
Maturity Date:
2 September 2016

9.
Interest Basis:
3.000 per cent. Fixed Rate
(further particulars specified below)
10. Redemption/Payment Basis:
Redemption at par
11. Change of Interest or Redemption/
Not Applicable
Payment Basis:
12. Pull/Call Options:
Not Applicable
13. Status of the Instruments:
Senior, unsubordinated

14. Method of distribution:
Non-syndicated
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
15. Fixed Rate Instrument Provisions
Applicable
(i)
Rate of Interest:
3.000 per cent. per annum payable annually in
arrear
(ii)
Interest Payment Date(s):
2 September in each year commencing on 2
September 2012
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(iii) Adjustment of Interest
Interest Payment Dates will not be adjusted for
Payment Date(s) for payment
calculation of interest; however, for payment
purposes:
purposes only, the Following Business Day
Convention will apply
(iv)
Fixed Coupon Amount:
NOK 300 per Calculation Amount
(v)
Broken Amount(s):
Not Applicable
(vi)
Day Count Fraction:
Actual/Actual (ICMA)
(vii) Determination Dates:
2 September in each year
(viii) Other terms relating to the
Not Applicable
method of calculating interest
for Fixed Rate Instruments:
16. Floating Rate Instrument Provisions Not Applicable
17. Zero Coupon Instrument Provisions Not Applicable
18. Index-Linked Interest
Not Applicable
Instrument/other variable-linked
interest Instrument Provisions
19. Dual Currency Instrument
Not Applicable
Provisions
PROVISIONS RELATING TO REDEMPTION
20. Call Option
Not Applicable
21. Put Option
Not Applicable

22. Maturity Redemption Amount of
NOK 10,000 per Calculation Amount
each Instrument
23. Early Redemption Amount


Early Redemption Amount(s) per
NOK 10,000 per Calculation Amount
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 INSTRUMENTS
24. Form of Instruments:
Bearer Instruments:
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Temporary Global Instrument exchangeable for
a Permanent Global Instrument which is
exchangeable for Definitive Bearer Instruments
in the limited circumstances specified in the
Permanent Global Instrument
25. New Global Instrument:
Yes
26. Relevant Financial Centre(s) or other
London and Oslo
special provisions relating to Payment
Dates:
27. Talons for future Coupons or Receipts No
to be attached to Definitive Bearer
Instruments (and dates on which such
Talons mature):
28. Details relating to Partly Paid
Not Applicable
Instruments: amount of each payment
comprising the Issue Price and date on
which each payment is to be made:
29. Details relating to Instalment
Not Applicable
Instruments: amount of each
instalment, date on which each
payment is to be made:
30. Redenomination, renominalisation and Not Applicable
reconventioning provisions:
31. Other final terms:
Condition 15 (Further Issues) applies
DISTRIBUTION
32. (i)
If syndicated, names and
Not Applicable
addresses of Managers and
underwriting commitments:


(ii)
Date of Subscription
Not Applicable
Agreement:

(iii) Stabilising Manager(s) (if any): Not Applicable
33. If non-syndicated, name and address
RBC Europe Limited
of Dealer:
Riverbank House
2 Swan Lane
London EC4R 3BF
United Kingdom
34. Total (underwriting and placing)
1.875 per cent. of the Aggregate Principal
commission and concession:
Amount of the Tranche
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PART B- OTHER INFORMATION
1.
LISTING AND ADMISSION TO TRADING
(i)
Listing:
Luxembourg
(ii)
Admission to trading:
Application has been made by the Issuer (or on its
behalf) for the Instruments to be admitted to listing
on the official list of the Luxembourg Stock
Exchange and to trading on the regulated market of
the Luxembourg Stock Exchange with effect from
the Issue Date.
The Original Instruments are admitted to trading on
the regulated market of the Luxembourg Stock
Exchange.
2.
RATINGS
Ratings:
The Instruments to be issued have been rated:


Standard & Poor's Credit Market
AAA
Services Europe Limited:


Moody's Investors Service Ltd.:
Aaa


These credit ratings have been issued by Standard &
Poor's Credit Market Services Europe Limited and
Moody's
Investors
Service
Ltd.,
which
are
established in the European Economic Area (the
"EEA") and have applied for registration under
Regulation (EC) No 1060/2009 on credit rating
agencies, as amended (the "CRA Regulation"),
although as at the date of these Final Terms
notification of the corresponding registration decision
has not yet been provided by the relevant competent
authority

In general, European regulated investors are
restricted from using a rating for regulatory purposes
if such rating is not issued by a credit rating agency
established in the EEA and registered under the CRA
Regulation unless (1) the rating is provided by a
credit rating agency operating in the EEA before 7
June 2010 which has submitted an application for
registration in accordance with the CRA Regulation
and such registration has not been refused, (2) the
rating is provided by a credit rating agency not
established in the EEA but is endorsed by a credit
rating agency established in the EEA and registered
under the CRA Regulation or (3) the rating is
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provided by a credit rating agency not established in
the EEA which is certified under the CRA Regulation
3.
INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE
OFFER
Save as discussed in "Subscription and Sale" in the Base Prospectus, so far as the
Issuer is aware, no person involved in the offer of the Instruments has an interest
material to the offer
4.
REASONS FOR THE OFFER, ESTIMATED NET PROCEEDS AND TOTAL
EXPENSES
(i)
Reasons for the offer:
The net proceeds of the issue of the Instruments
will be applied by the Issuer to meet part of its

general financing requirements
(ii)
Estimated net proceeds:
NOK 201,342,311.48
(iii)
Estimated total expenses: Not Applicable
5.
YIELD
Indication of yield:
(1) In respect of NOK 100,000,000 as of trade
date 5 December 2011:
2.629 per cent. per annum
(2) In respect of NOK 100,000,000 as of trade
date 7 December 2011:
2.598 per cent. per annum
As set out above, 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 Code:
XS0669838541
Common Code:
066983854
CUSIP Number:
Not Applicable
New Global Instrument intended No
to be held in a manner which
would allow Eurosystem
eligibility:
Clearing System(s):
Euroclear and Clearstream, Luxembourg
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Delivery:
Delivery against payment
Names and addresses of additional Not Applicable
Paying Agent(s) or Foreign
Exchange Agent(s) (if any):
Name and address of
Not Applicable
Luxembourg Intermediary Agent:
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7.
TERMS AND CONDITIONS OF THE OFFER
Offer Price:
Issue Price
Conditions to which the offer is subject: The Offer Period in Austria shall not
commence until the day after the registration
of the issue terms with the Registration
Office (Meldestelle) has been duly made as
required by the Austrian Capital Markets Act
Description of the application process: Not Applicable
Description of possibility to reduce
Not Applicable
subscriptions and manner for refunding
excess amount paid by applicants:
Details of the minimum and/or
Not Applicable
maximum amount of application:
Details of the method and time limits
Not Applicable
for paying up and delivering the
Instruments:
Manner in and date on which results of Not Applicable
the offer are to be made public:
Procedure for exercise of any right of
Not Applicable
pre-emption, negotiability of
subscription rights and treatment of
subscription rights not exercised:
Categories of potential investors to
Not Applicable
which the Instruments are offered and
whether tranche(s) have been reserved
for certain countries:
Process for notification to applicants
Not Applicable
of the amount allotted and the
indication whether dealing may begin
before notification is made:
Amount of any expenses and taxes
Not Applicable
specifically charged to the subscriber
or purchaser:
Name(s) and address(es), to the extent
None
known to the Issuer, of the placers in
the various countries where the offer
takes place:

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