Obligation Komunalbanken 0% ( XS1106496067 ) en USD

Komunalbanken

100 % ⇌

Norvege

XS1106496067 ( en USD )

08/09/2021 - Obligation échue

Prospectus brochure de l'obligation Kommunalbanken XS1106496067 en USD 0%, échue

100 000 USD

1 150 000 000 USD

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 USD, avec le code ISIN XS1106496067, paye un coupon de 0% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 08/09/2021

MiFID II PRODUCT GOVERNANCE / Professional investors and eligible
counterparties only target market Solely for the purposes of the manufacturer's product
approval process, the target market assessment in respect of the Instruments has led to the
conclusion that: (i) the target market for the Instruments is eligible counterparties and
professional clients only, each as defined in Directive 2014/65/EU on markets in financial
instruments (as amended, "MiFID II"); and (ii) all channels for distribution of the Instruments
to eligible counterparties and professional clients are appropriate. Any person subsequently
offering, selling or recommending the Instruments (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
Instruments (by either adopting or refining the manufacturer's target market assessment) and
determining appropriate distribution channels.
Final Terms dated 17 September 2018
KOMMUNALBANKEN AS
Legal entity identifier (LEI): I7ETN0QQO2AHZZGHJ389
Issue of
USD 150,000,000 Floating Rate Instruments due 8 September 2021
(the "Instruments")
(to be consolidated and form a single series with the USD 300,000,000 Floating Rate Instruments due
8 September 2021 issued on 8 September 2014, the USD 200,000,000 Floating Rate Instruments due
8 September 2021 issued on 8 June 2016 and the USD 500,000,000 Floating Rate Instruments due 8
September 2021 issued on 26 July 2017 (the "Original 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 the 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 the 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 (as amended, including
by Directive 2010/73/EU), and includes 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
(the "Conditions") set forth in the base prospectus dated 17 April 2014. This document
constitutes the Final Terms of the Instruments described herein for the purposes of Article 5.4
of the Prospectus Directive and, save in respect of the Conditions, must be read in conjunction
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with the base prospectus dated 6 April 2018 which constitutes a base prospectus for the
purposes of the Prospectus Directive (the "Base Prospectus"). The Conditions are incorporated
by reference in the 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, the Base
Prospectus and the Conditions. 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 and the Conditions are available for viewing at
Kommunalbanken AS, Haakon VIIs gate 5b, 0161 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 be obtained from Kommunalbanken AS, Haakon VIIs gate 5b, 0161 Oslo, Norway and
Deutsche Bank AG, London Branch, Winchester House, 1 Great Winchester Street, London
EC2N 2DB, United Kingdom.
1.
(i)
Series Number:
4785
(ii)
Tranche Number:
4
(iii)
Date on which the
The Instruments shall be consolidated, form a
Instruments become
single series and be interchangeable for
fungible:
trading
purposes
with
those
Original
Instruments represented by the Regulation S
Instruments not earlier than 40 days from the
Issue Date following the expiration of the
distribution compliance period (as defined in
Regulation S)
2.
Specified Currency:
United States Dollars ("USD")
3.
Aggregate Principal Amount:

(i)
Series:
USD 1,150,000,000
(ii)
Tranche:
USD 150,000,000
4.
Issue Price:
100.529 per cent. of the Aggregate Principal
Amount of the Tranche plus accrued interest
from,
and
including,
the
Interest
Commencement Date to, but excluding, the
Issue Date
5.
(i)
Specified Denominations:
USD 100,000 and multiples of USD 2,000
thereafter
(ii)
Calculation Amount:
USD 2,000
6.
(i)
Issue Date:
19 September 2018
(ii)
Interest Commencement
10 September 2018
Date:
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7.
Maturity Date:
8 September 2021
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:
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
8 March, 8 June, 8 September and 8
December of each year commencing on the
First Interest Payment Date, up to and
including the Maturity Date
(iv)
First Interest Payment Date: 8 December 2018
(v)
Additional Financial
London
Centre(s) relating to
Business Days:
For the avoidance of doubt, the Relevant
Financial Centre shall be New York
(vi)
Business Day Convention:
Modified
Following
Business
Day
Convention
(vii)
Manner in which the
Screen Rate Determination
Interest Rate(s) is/are to be
determined:
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(viii)
Screen Rate Determination:
Applicable
·
Reference Rate:
3 month USD LIBOR
·
Interest
2 London Banking Days prior to the first day
Determination
of each Interest Period
Date(s):
·
Relevant Screen
Reuters Screen, LIBOR 01
Page:
·
Relevant Time:
11:00 a.m. London time
·
Relevant Financial
London
Centre:
·
Variable Rate:
Not Applicable
(ix)
ISDA Determination:
Not Applicable
(x)
Linear Interpolation:
Not Applicable
(xi)
Margin(s):
+ 0.13 per cent. per annum
(xii)
Minimum Interest Rate:
Not Applicable
(xiii)
Maximum Interest Rate:
Not Applicable
(xiv)
Day Count Fraction:
Actual/360
(xv)
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 Instrument Not Applicable
Provisions
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PROVISIONS RELATING TO REDEMPTION
22.
Notice periods for Condition 6.2
Not Applicable
(Early Redemption for Taxation
Reasons):
23.
Call Option
Not Applicable
24.
Put Option
Not Applicable
25.
Automatic Early Redemption
Not Applicable
26.
Maturity Redemption Amount of USD 2,000 per Calculation Amount
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:
(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
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35.
Form of Instruments:
Registered Instruments:

The Instruments
Regulation S Instrument
The Original Instruments
Regulation
S
Instrument/Rule
144A
Instrument
36.
New Global Instrument:
Not Applicable
37.
New Safekeeping Structure:
No
38.
Financial Centre(s) or other special
New York
provisions relating to Payment
Dates:
39.
Additional Financial Centre(s)
London
relating to Relevant Financial
Centre Days:
40.
Talons for future Coupons or
No
Receipts to be attached to
Definitive Bearer Instruments (and
dates on which such Talons
mature):
41.
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:
42.
Details relating to Instalment
Not Applicable
Instruments: amount of each
instalment, date on which each
payment is to be made:
43.
Calculation Agent (including, in
Deutsche Bank AG, London Branch
the case of Renminbi Instruments,
Winchester House
the party responsible for calculating 1 Great Winchester Street
the Fixed Coupon Amount(s)):
London EC2N 2DB
United Kingdom

SIGNATURE

Signed on behalf of the Issuer:
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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
The Original Instruments have been listed on
the Official List of the Luxembourg Stock
Exchange
(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 Original Instruments have been admitted
to trading on the regulated market of the
Luxembourg Stock Exchange
(iii)
Estimate of total expenses
EUR 600 (listing fee)
related to admission to
trading:
2.
RATINGS
The Instruments to be issued are expected to be rated:
S&P Global Ratings 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.
S&P Global Ratings Europe Limited and Moody's Investors Service Ltd are
established in the European Economic Area 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/OFFER
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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:
USD 150,885,639.75 (including accrued
interest amounting to USD 92,139.75)
(iii)
Estimated total expenses:
Not Applicable
5.
YIELD
Indication of yield:
Not Applicable
6.
HISTORIC INTEREST RATES
Not Applicable
7.
RELEVANT BENCHMARK
LIBOR is provided by ICE Benchmark Administration Limited. As at the date hereof,
ICE Benchmark Administration Limited appears in the register of administrators and
benchmarks established and maintained by ESMA pursuant to Article 36 (Register
of administrators and benchmarks) of the Benchmark Regulation.
8.
DESCRIPTION AND PERFORMANCE OF INDEX/ FORMULA/OTHER
VARIABLE
Not Applicable
9.
OPERATIONAL INFORMATION
ISIN Code:
The Instruments
Until the Instruments are consolidated,
become fungible with and form a single Series
with the Original Instruments, the Instruments
will have the temporary Regulation S ISIN
XS1881594433. After that, the Instruments
will have the same Regulation S ISIN as the
Original
Instruments,
which
is
XS1106496067
The Original Instruments
Regulation S ISIN: XS1106496067
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144A ISIN: US50048MBT62
Common Code:
The Instruments
Until the Instruments are consolidated,
become fungible with and form a single Series
with the Original Instruments, the Instruments
will have the temporary Regulation S
Common Code 188159443. After that, the
Instruments will have the same Regulation S
Common Code as the Original Instruments,
which is 110649606
The Original Instruments
Regulation S: 110649606
144A: 110682638
CUSIP Number:
The Original Instruments: 50048MBT6
Intended to be held in a manner
Not Applicable
which would allow Eurosystem
eligibility:
Clearing system(s):
The Instruments: Euroclear and Clearstream,
Luxembourg
The
Original
Instruments:
Euroclear,
Clearstream, Luxembourg and DTC
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 Luxembourg
Not Applicable
Intermediary Agent:
10.
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:
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