Obligation Komunalbanken 0% ( XS1062906794 ) en USD

Komunalbanken

100 % ⇌

Norvege

XS1062906794 ( en USD )

02/05/2019 - Obligation échue

Prospectus brochure de l'obligation Kommunalbanken XS1062906794 en USD 0%, échue

100 000 USD

600 000 000 USD

Kommunalbanken est une banque publique norvégienne qui fournit des services financiers aux municipalités et aux autres entités publiques norvégiennes.

L'obligation Kommunalbanken (XS1062906794), émise en USD pour un montant total de 600 000 000 USD, avec un taux d'intérêt de 0%, une taille minimale d'achat de 100 000 USD et une maturité le 02/05/2019, a été intégralement remboursée à son prix nominal de 100%.

Final Terms dated 6 June 2014
KOMMUNALBANKEN AS
Issue of
USD 100,000,000 Floating Rate Instruments due 2 May 2019
(to be consolidated and form a single series with the USD 100,000,000 Floating
Rate Instruments due 2 May 2019 issued on 2 May 2014 (the "Existing
Instruments"))
UNDER THE
PROGRAMME FOR THE ISSUANCE OF DEBT INSTRUMENTS
The Base Prospectus referred to below (as completed by these Final Terms) has been
prepared on the basis that any offer of Instruments in any Member State of the European
Economic Area which has implemented the Prospectus Directive (each, a "Relevant
Member State") will be made pursuant to an exemption under the Prospectus Directive,
as implemented in that Member State, from the requirement to publish a prospectus for
offers of the Instruments. Accordingly any person making or intending to make an offer
in that Member State of the Instruments may only do so in circumstances in which no
obligation arises for the Issuer or any Manager to publish a prospectus pursuant to
Article 3 of the Prospectus Directive or supplement a prospectus pursuant to Article 16
of the Prospectus Directive, in each case, in relation to such offer. Neither the Issuer
nor any Manager has authorised, nor do they authorise, the making of any offer of
Instruments in any other circumstances.
The expression "Prospectus Directive" means Directive 2003/71/EC (and amendments
thereto, including the 2010 PD Amending Directive) and the expression "2010 PD
Amending Directive" means Directive 2010/73/EU provided, however, that all
references in this document to the "Prospectus Directive" in relation to any Member
State of the European Economic Area refer to Directive 2003/71/EC (and amendments
thereto, including the 2010 PD Amending Directive, to the extent implemented in the
relevant Member State), and include any relevant implementing measure in the relevant
Member State.
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 17 April 2014 which constitutes a
base prospectus (the "Base Prospectus") for the purposes of 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. A summary of the Instruments (which comprises the summary in the Base
Prospectus as amended to reflect the provisions of these Final Terms) is annexed to
these Final Terms. 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 the website of the Luxembourg Stock Exchange (www.bourse.lu) and copies may

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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.
(i)
Series Number:
4723
(ii)
Tranche Number:
2
The Instruments shall be consolidated,
form a single series and be interchangeable
for trading purposes with the Existing
Instruments on 20 July 2014.
(iii)
Date on which the
Not Applicable
Instruments become
fungible:
2.
Specified Currency:
United States dollars ("USD")
3.
Aggregate Principal Amount:

(i)
Series:
USD 600,000,000
(ii)
Tranche:
USD 100,000,000
4.
Issue Price:
100,055 per cent. of the Aggregate
Principal Amount plus USD 38,279.58
accrued interest from 2 May 2014
5.
(i)
Specified Denominations: USD 100,000 and multiples of USD 2,000
thereafter
(ii)
Calculation Amount:
USD 2,000
6.
(i)
Issue Date:
10 June 2014
(ii)
Interest Commencement
2 May 2014
Date:
7.
Maturity Date:
2 May 2019
8.
Types of Instruments:
Floating Rate
9.
Interest Basis:
3 month USD LIBOR + 0.13 per cent.
Floating Rate
(further particulars specified below)
10.
Redemption/Payment Basis:
Subject to any purchase and cancellation or
early redemption, the Instruments will be
redeemed on the Maturity Date at 100 per
cent. of their nominal amount
11.
Change of Interest or
Not Applicable
Redemption/Payment Basis:

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12.
Put/Call Options:
Not Applicable
13.
Status of the Instruments:
Senior
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
14.
Fixed Rate Instrument
Not Applicable
Provisions
15.
Floating Rate Instrument
Applicable
Provisions
(i)
Interest Period(s):
Quarterly
(ii)
Specified Period:
Not Applicable
(iii)
Interest Payment Dates:
Interest shall be payable quarterly in arrear
on 2 February, 2 May, 2 August and 2
November of each year in each year
commencing on 2 August 2014, up to and
including the Maturity Date
(iv)
Business Day Convention: Modified
Following
Business
Day
Convention; adjusted
(v)
Additional Financial
London. For the avoidance of doubt, the
Centre(s) relating to
Relevant Financial Centre shall be New
Business Days:
York
(vi)
Manner in which the
Screen Rate Determination
Interest Rate(s) is/are to
be determined:
(vii) Screen Rate
Applicable
Determination:
·
Reference Rate:
3 month USD LIBOR
·
Interest
2 London Banking Days prior to the first
Determination
day of each Interest Period
Date(s):
·
Relevant Screen
Reuters Screen, LIBOR01
Page:
·
Relevant Time:
11:00 a.m. London time
·
Relevant Financial London
Centre:
·
Variable Rate:
Not Applicable
(viii) ISDA Determination:
Not Applicable

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(ix)
Margin(s):
+ 0.13 per cent. per annum
(x)
Minimum Interest Rate:
Not Applicable
(xi)
Maximum Interest Rate:
Not Applicable
(xii) Day Count Fraction:
Actual/360
(xiii) Weighted Average
Not Applicable
Reference Rate:
16.
Fixed Interest Discounted Issue Not Applicable
Instrument Provisions
17.
Zero Coupon Instrument
Not Applicable
Provisions
18.
Index Linked Interest
Not Applicable
Instrument Provisions
19.
Share Linked Interest
Not Applicable
Instrument Provisions
20.
FX Linked Interest Instrument
Not Applicable
Provisions
21.
Fund Linked Interest
Not Applicable
Instrument Provisions
PROVISIONS RELATING TO REDEMPTION
22.
Notice periods for Conditions 6.2 Not Applicable
(Early Redemption for Taxation
Reasons) and/or 6.3 (Optional
Early Redemption (Call)) and/or
6.6 (Optional Early Redemption
(Put)):
23.
Call Option
Not Applicable
24.
Put Option
Not Applicable
25.
Automatic Early Redemption
Not Applicable
26.
Maturity Redemption Amount
USD 2,000 per Calculation Amount
of each Instrument
27.
Early Redemption Amount

(i)
Early Redemption
USD 2,000 per Calculation Amount
Amount(s) per
Calculation Amount
payable on redemption for
taxation reasons

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(ii)
Early Redemption
USD 2,000 per Calculation Amount
Amount(s) per
Calculation Amount
payable on event of
default or other early
redemption):
28.
Index Linked Redemption
Not Applicable
Instruments
29.
Share Linked Redemption
Not Applicable
Instruments
30.
FX Linked Redemption
Not Applicable
Instruments
31.
Instruments with Dual or Other Not Applicable
Currency Settlement Conditions
32.
Fund Linked Redemption
Not Applicable
Instruments
33.
Commodity Linked Redemption Not Applicable
Instruments
34.
Physical Delivery Instruments
Not Applicable
GENERAL PROVISIONS APPLICABLE TO THE INSTRUMENTS
35.
Form of Instruments:
Registered Instruments:

Regulation S Instrument and Rule 144A
Instrument
36.
New Global Instrument:
No
37.
Relevant Financial Centre(s) or
New York
other special provisions relating to
Payment Dates:
38.
Additional Financial Centre(s)
London
relating to Relevant Financial
Centre Days:
39.
Talons for future Coupons or
No
Receipts to be attached to
Definitive Bearer Instruments
(and dates on which such Talons
mature):
40.
Details relating to Partly Paid
Not Applicable
Instruments:
41.
Details relating to Instalment
Not Applicable

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PART B - OTHER INFORMATION
1.
LISTING AND ADMISSION TO TRADING
(i)
Listing:
Application has been made by the Issuer
(or on its behalf) for the Instruments to be
listed on the Official List of the
Luxembourg Stock Exchange with effect
from the Issue Date
(ii)
Admission to trading:
Application has been made by the Issuer
(or on its behalf) for the Instruments to be
admitted to trading on the regulated market
of the Luxembourg Stock Exchange with
effect from the Issue Date.
The Existing Notes have been admitted to
trading on the regulated market of the
Luxembourg Stock Exchange
(iii)
Estimate of total expenses
EUR 400 (listing fee)
related to admission to
trading:
2.
RATINGS
The Instruments to be issued have been rated:
Standard & Poor's Credit Market Services Europe Limited: AAA
Moody's Investors Service Ltd: Aaa
According to Moody's rating system, obligations rated "Aaa" are judged to be of
the highest quality with minimal credit risk and according to the Standard &
Poor's rating system, an obligor rated "AAA" has extremely strong capacity to
meet its financial commitments
Standard & Poor's Credit Market Services Europe Limited and Moody's
Investors Service Ltd are established in the European Economic Area (the
"EEA") and registered under Regulation (EC) No. 1060/2009, as amended (the
"CRA Regulation"), and are included in the list of credit rating agencies
published by the European Securities and Markets Authority on its website
(www.esma.europa.eu/page/list-registered-and-certified-CRAs) in accordance
with the CRA Regulation
3.
INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN
THE ISSUE
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

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(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:
USD 100,093,279.58
5.
(Fixed Rate Instruments only) - YIELD
Not Applicable

6.
(Floating Rate Instruments only) - HISTORIC INTEREST RATES
Details of historic LIBOR rates can be obtained from Thomson Reuters
7.
(Index-Linked or other variable-linked Instruments only) - DESCRIPTION
AND PERFORMANCE OF INDEX/ FORMULA/OTHER VARIABLE
Not Applicable
8.
OPERATIONAL INFORMATION
Temporary Regulation S ISIN
XS1075318821
Code:
Regulation S ISIN Code:
XS1062906794
Temporary Regulation S
107531882
Common Code:
Regulation S Common Code:
106290679
Regulation S WKN:
A1ZHLA
144A ISIN Code:
US50048MBQ24
144A Common Code:
106355410
144A WKN:
A1ZHLB
CUSIP Number:
50048MBQ2
New Global Instrument intended Not Applicable
to be held in a manner which
would
allow
Eurosystem
eligibility:
Clearing system(s):
Euroclear, Clearstream, Luxembourg and
DTC
Delivery:
Delivery against payment
Names and addresses of
Not Applicable
additional Paying Agent(s) or
Foreign Exchange Agent(s) (if

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any):
Name and address of
Not Applicable
Luxembourg Intermediary Agent:
9.
DISTRIBUTION
(i)
Method of distribution:
Non-syndicated
(ii)
If syndicated, names and
Not Applicable
addresses of Managers
and underwriting
commitments:
(iii)
Date of Subscription
Not Applicable
Agreement:
(iv)
If non-syndicated, name
Barclays Bank PLC
and address of Manager:
5 The North Colonnade
Canary Wharf
London E14 4BB
United Kingdom
(v)
Stabilising Manager(s) (if Not Applicable
any):
(vii) U.S. Selling Restrictions: Regulation S Category 2; Rule 144A and
Section 3(c)(7) (QIBs that are also QPs)
(viii) Public Offer:
Not Applicable
10.
TERMS AND CONDITIONS OF THE OFFER
Not Applicable

11.
THIRD PARTY INFORMATION
Not Applicable

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SUMMARY OF THE ISSUE
Summaries are made up of disclosure requirements known as "Elements". These
elements are numbered in Sections A - E (A.1 - E.7).
This summary contains all the Elements required to be included in a summary for this
type of securities and issuer. Because some Elements are not required to be addressed,
there may be gaps in the numbering sequence of the Elements.
Even though an Element may be required to be inserted in the summary because of the
type of securities and issuer, it is possible that no relevant information can be given
regarding the Element. In this case a short description of the Element is included in the
summary with the mention of "Not Applicable".

Section A - Introduction and Warnings
A.1
Introduction:
This summary should be read as introduction to the Base
Prospectus; and any decision to invest in the Instruments
should be based on consideration of the Base Prospectus as
a whole by the investor. Where a claim relating to the
information contained in the Base Prospectus is brought
before a court, the plaintiff investor might, under the
national legislation of the Member State, have to bear the
costs of translating the Base Prospectus before the legal
proceedings are initiated. Civil liability attaches only to
those persons who have tabled the summary including any
translation thereof, but only if the summary is misleading,
inaccurate or inconsistent when read together with the other
parts of the Base Prospectus or it does not provide, when
read together with the other parts of the Base Prospectus,
key information in order to aid investors when considering
whether to invest in such Instruments.
A.2
Consent:
Not Applicable. No Public Offer of the Instruments will be
made.

Section B Issuer
B.1
Legal name of
Kommunalbanken AS ("KBN" or the "Issuer")
the Issuer:

Commercial
Kommunalbanken Norway (KBN)
name of the
Issuer:
B.2
Domicile, legal
The Issuer is registered in Oslo, Norway as a joint stock
form,
company under the Norwegian law for limited companies
legislation and
(Lov om aksjeselskap) and operates under such law.
country of
incorporation
of the Issuer:
B.4b
Trends:
Not Applicable. There is no known trend affecting the Issuer

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