Obligation Rabbobank 1.514% ( XS1771890578 ) en EUR

Rabbobank

100 % ⇌

Pays-bas

XS1771890578 ( en EUR )

1.514% par an ( paiement annuel )

21/02/2038

Prospectus brochure de l'obligation Rabobank XS1771890578 en EUR 1.514%, échéance 21/02/2038

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22/02/2026 ( Dans 158 jours )

Rabobank est une banque coopérative d'origine néerlandaise et un acteur mondial majeur du financement de l'agriculture et de l'alimentation.

Rabobank, une institution financière coopérative néerlandaise de premier plan reconnue pour sa robustesse et son engagement historique dans le secteur agricole et alimentaire à l'échelle mondiale, est l'émetteur d'une obligation de type classique identifiée par le code ISIN XS1771890578, un instrument de dette dont l'émission s'est faite aux Pays-Bas et qui, actuellement négocié à 100% de sa valeur nominale sur le marché, est libellé en Euros (EUR) et garantit un taux d'intérêt annuel fixe de 1,514% versé une fois par an jusqu'à sa date de maturité, fixée au 21 février 2038.

FINAL TERMS
20 February 2018
COÖPERATIEVE RABOBANK U.A.
(RABOBANK)
(incorporated in The Netherlands with its statutory seat in Amsterdam and registered in the Commercial
Register of the Chamber of Commerce under number 30046259
Issue of 50,000,000 1.514 per cent. Covered Bond 2018 due February 2038
Guaranteed as to payment of principal and interest by
Rabo Covered Bond Company B.V.
under the 25,000,000,000
Covered Bond Programme
The Base Prospectus referred to below (as completed by these Final Terms) has been prepared on the basis that
any offer of Covered Bonds 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 Relevant Member State, from the requirement to publish a
prospectus for offers of the Covered Bonds. Accordingly any person making or intending to make an offer in that
Relevant Member State of the Covered Bonds may only do so in circumstances in which no obligation arises for
the Issuer or any Dealer 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 Dealer has authorised, nor do they authorise, the making of any offer of Covered Bonds in any
other circumstances. The expression "Prospectus Directive" means Directive 2003/71/EC (and amendments
thereto, including the 2010 PD Amending Directive, to the extent implemented in the relevant Member State)
and includes any relevant implementing measures in the Relevant Member State and the expression "2010 PD
Amending Directive" means Directive 2010/73/EU.
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
("MiFID II"); (ii) a customer within the meaning of Directive 2002/92/EC ("IMD"), 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 Directive 2003/71/EC (as amended, the "Prospectus Directive") . Consequently no key
information document required by Regulation (EU) No 1286/2014 (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.
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 10 May 2017 and the supplemental Base Prospectuses
dated 17 August 2017, 3 January 2018 and 15 February 2018 which together constitute a base prospectus (the
"Base Prospectus") for the purposes of the Prospectus Directive. 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 is available for viewing at www.rabobank.com/en/investors and during normal business hours at the
registered office of the Issuer, currently at Croeselaan 18, 3521 CB Utrecht, The Netherlands and copies may be
obtained from the Issuer at that address.
Each potential investor in the Covered Bonds must determine the suitability of that investment in light of its own
circumstances. A potential investor should not invest in Covered Bonds which are complex financial instruments
unless it has the expertise (either alone or with a financial adviser) to evaluate how the Covered Bonds will
perform under changing conditions, the resulting effects on the value of the Covered Bonds and the impact this
investment will have on the potential investor's overall investment portfolio.

1.
(i)
Issuer:
Coöperatieve Rabobank U.A.

(ii)
CBC:
Rabo Covered Bond Company B.V.
2.
(i)
Series Number:
5CB

(ii)
Tranche Number:
1

(iii)
Date on which the Covered Bonds Not Applicable
become fungible:
3.
Specified Currency or Currencies:
Euro ("EUR")
4.
Aggregate Nominal Amount:

(i)
Series:
EUR 50,000,000

(ii)
Tranche:
EUR 50,000,000
5.
Issue Price:
100.00 per cent. of the Aggregate Nominal Amount
6.
Specified Denominations:
EUR 100,000
7.
Calculation Amount
EUR 100,000
8.
(i)
Issue Date:
22 February 2018

(ii)
Interest Commencement Date:
Issue Date
9.
(i)
Final Maturity Date:
22 February 2038

(ii)
Extended Due for Payment Date:
The Specified Interest Payment Date falling in or nearest
to February 2039
10.
Interest Basis:
1.514 per cent Fixed Rate from, and including the
Interest Commencement Date to, but excluding, the Final
Maturity Date. Thereafter, one-month EURIBOR + 0.05
per cent. Floating Rate.
(further particulars specified below)
11.
Redemption/Payment Basis:
Subject to any purchase and cancellation or early
redemption and subject to Condition 3 (The Guarantee),
the Covered Bonds will be redeemed on the Final
Maturity Date at 100.00 per cent. of their nominal
amount.
12.
Change of Interest Basis:
In accordance with paragraphs 15 and 16 below

13.
Call Option(s):
Not Applicable
14.
(i)
Status of the Covered Bonds:
Unsubordinated, unsecured, guaranteed

(ii)
Status of the Guarantee:
Unsubordinated, secured (indirectly, through a parallel
debt), unguaranteed
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
15.
Fixed Rate Covered Bond Provisions
Applicable

(i)
Rate of Interest:
1.514 per cent. per annum payable annually in arrear on

each Interest Payment Date

(ii)
Interest Payment Date(s):
22 February in each year up to and including the Final
Maturity Date (provided however that after the date
when the Guaranteed Final Redemption Amount is Due
for Payment (the "Extension Date"), the Interest
Payment Date shall be monthly and the first Interest
Payment Date following the Extension Date shall be 22
March 2038 in accordance with paragraph 16 below)

(iii)
Fixed Coupon Amount(s):
EUR 1,514 per Calculation Amount

(iv)
Broken Amount(s):
Not Applicable

(v)
Day Count Fraction:
Actual/Actual (ICMA)

(vi)
Determination Date(s):
22 February in each year

(vii)
Business Day Convention
Following Business Day Convention, Unadjusted
16.
Floating Rate Covered Bond Provisions
Applicable

(i)
Interest Period(s):
1-month

(ii)
Specified Period:
Not Applicable

(iii)
Specified Interest Payment Dates:
22nd day of each month, commencing on the date falling
one month after the Final Maturity Date, up to, and
including, the Extended Due for Payment Date subject to
adjustment in accordance with the Business Day
Convention set out in (iv) below

(iv)
Business Day Convention:
Modified Following Business Day Convention

(v)
Unadjusted:
Yes

(vi)
Additional Business Centre(s):
Not Applicable

(vii)
Manner in which the Rate(s) of Screen Rate Determination
Interest and Interest Amount(s)
is/are to be determined:

(viii)
Calculation Agent
Principal Paying Agent

(ix)
Screen Rate Determination:
Applicable

--
Reference Rate:
1-month EURIBOR

--
Interest Determination Date(s):
The second day on which TARGET2 is open prior to the
start of each Interest Period

--
Relevant Screen Page:
Reuters EURIBOR 01

--
Location of Reference Banks:
As per the Conditions

(x)
ISDA Determination:
Not Applicable

(xi)
Margin(s):
+ 0.05 per cent. per annum

(xii)
Minimum Rate of Interest:
Not Applicable

(xiii)
Maximum Rate of Interest:
Not Applicable

(xiv)
Day Count Fraction:
Actual/360
17.
Zero Coupon Covered Bond Provisions
Not Applicable
PROVISIONS RELATING TO REDEMPTION
18.
Issuer Call
Not Applicable
19.
Final Redemption Amount of each EUR 100,000 per Calculation Amount
Covered Bond
20.
Early Redemption Amount of each
Covered Bond

Early Redemption Amount per Calculation As set out in Condition 6 (Redemption and Purchase)
Amount payable on redemption for
taxation reasons, or on acceleration
following an Issuer Event of Default as
against the Issuer or a CBC Event of
Default or other early redemption:
GENERAL PROVISIONS APPLICABLE TO THE COVERED BONDS
21.
Form of Covered Bonds:
Bearer form

Temporary Global Covered Bond exchangeable for a
Permanent Global Covered Bond which is exchangeable
for Definitive Covered Bonds only upon an Exchange
Event, subject to mandatory provisions of applicable
laws and regulations.
22.
New Global Note
Yes
23.
Exclusion of set-off
Not applicable
24.
For the purposes of Condition 13, notices Yes, in the Financial Times
to be published in a newspaper:
26.
Additional Financial Centre(s):
Not Applicable

28.
Talons for future Coupons or Receipts to Not Applicable
be attached to Definitive Covered Bonds
(and dates on which such Talons mature):

29.
Consolidation provisions:
The provisions of Condition 16 (Further Issues) apply

RESPONSIBILITY
The Issuer accepts responsibility for the information contained in these Final Terms. The CBC accepts
responsibility for the information relating to the CBC contained in these Final Terms.
Signed on behalf of the Issuer:
Signed on behalf of the CBC:
By: Ger Buls
By:

Duly authorized
Duly authorised

By:

Duly authorised

PART B OTHER INFORMATION
1.
LISTING AND ADMISSION TO TRADING

(i)
Listing:
Euronext Amsterdam

(ii)
Admission to trading:
Application has been made by the Issuer (or on its
behalf) for the Covered Bonds to be admitted to
trading on Euronext Amsterdam with effect from 22
February 2018.

(iii)
Estimate of total expenses related to EUR 11,200
admission to trading:
2.
RATINGS

Ratings:
The Covered Bonds to be issued are expected to be
rated:

Moody's: Aaa

Moody's Investors Service Ltd. is established in the
EEA and registered under Regulation (EU) No
1060/2009, as amended (the "CRA Regulation").
3.
INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE

Save as discussed in Section 1.5 Subscription and Sale, so far as the Issuer is aware, no person involved
in the issue of the Covered Bonds has an interest material to the offer.
4.
YIELD (Fixed Rate Covered Bonds only)

Indication of yield:
1.514 per cent. per annum

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)
ISIN Code:
XS1771890578
(ii)
Common Code:
177189057
(iii)
Other relevant code:
Not Applicable
(iv)
Intended to be held in a manner which would Yes
allow Eurosystem eligibility:
Note that the designation "yes" simply means that the
Covered Bonds are intended upon issue to be
deposited with one of the ICSDs as common
safekeeper (and registered in the name of a nominee
of one of the ICSDs acting as common safekeeper,
and does not necessarily mean that the Covered
Bonds will be recognized 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.
(v)
Any clearing system(s) other than Euroclear Not Applicable
Bank SA/NV and Clearstream Banking, société
anonyme and the relevant identification

number(s):
(vi)
Delivery:
Delivery against payment
(vii)
Names and addresses of additional Paying Not Applicable
Agent(s) (if any):
6.
DISTRIBUTION
(i)
Method of distribution:
Non-syndicated
(ii)
(a)
If syndicated, names of Managers:
Not Applicable

(b)
Stabilising Manager(s) (if any):
Not Applicable
(iii)
If non-syndicated, name of Dealer(s):
HSBC France
(iv)
U.S. selling restrictions:
Regulation S Compliance Category 2; TEFRA D
(v)
ERISA:
No
(vi)
Applicable Netherlands / Global selling As set out in the Base Prospectus
restriction:
(vii)
Additional selling restrictions:
Not Applicable