Obbligazione Kommuninvest Sverige 0.625% ( XS1897258098 ) in SEK

Emittente Kommuninvest Sverige
Prezzo di mercato 100 SEK  ⇌ 
Paese  Svezia
Codice isin  XS1897258098 ( in SEK )
Tasso d'interesse 0.625% per anno ( pagato 1 volta l'anno)
Scadenza 01/06/2023 - Obbligazione è scaduto



Prospetto opuscolo dell'obbligazione Kommuninvest i Sverige XS1897258098 in SEK 0.625%, scaduta


Importo minimo 10 000 SEK
Importo totale 11 000 000 000 SEK
Descrizione dettagliata Kommuninvest i Sverige è una società di finanziamento pubblica svedese che fornisce prestiti a lungo termine a comuni e regioni svedesi.

The Obbligazione issued by Kommuninvest Sverige ( Sweden ) , in SEK, with the ISIN code XS1897258098, pays a coupon of 0.625% per year.
The coupons are paid 1 time per year and the Obbligazione maturity is 01/06/2023







APPLICABLE FINAL TERMS
Solely for the purposes of the manufacturers product approval process, the target market
assessment in respect of the Notes has led to the conclusion that: (i) the target market for the Notes
is eligible counterparties, professional clients and retail clients, each as defined in MiFID II; and
(ii) all channels for distribution of the Notes are appropriate, including investment advice,
portfolio management, non-advised sales and pure execution services. Any person subsequently
offering, selling or recommending the Notes (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 Notes (by either
adopting or refining the manufacturers' target market assessment) and determining appropriate
distribution channels, subject to the distributor's suitability and appropriateness obligations
under MiFID II, as applicable.
For the purposes of this provision, the expression manufacturer means any Manager that is a
manufacturer under MiFID II and the expression MiFID II means Directive 2014/65/EU, as
amended.
20 May 2020
Kommuninvest i Sverige Aktiebolag (publ)
Legal entity identifier (LEI): EV2XZWMLLXF2QRX0CD47
Issue of SEK 5,000,000,000 0.625% Green Bonds due 1 June 2023
(to be consolidated and form a single series with the existing SEK 6,000,000,000 0.625% Green
Bonds due 1 June 2023 issued in two tranches on 23 October 2018 and 17 September 2019 (the
Existing Notes))


Guaranteed by certain regions of Sweden and certain municipalities of Sweden under the
Euro Note Programme
PART 1
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 8 June 2018 (the Conditions). This document constitutes the Final Terms of
the Notes described herein and must be read in conjunction with the Base Prospectus dated 11 June 2019
and the supplements to it dated 3 September 2019 and 25 February 2020 (the Base Prospectus) which
constitutes a base prospectus for the purposes of the Luxembourg act relating to prospectuses for
securities (loi relative aux prospectus pours valeurs mobilières), save in respect of the Conditions which
are extracted from the base prospectus dated 8 June 2018 and are attached hereto. Full information on
the Issuer and the offer of the Notes is only available on the basis of the combination of these Final
Terms, the Base Prospectus and the base prospectus dated 8 June 2018.
1.
(a)
Series Number:
2078
(a)
Tranche Number:
3
The Notes will be consolidated and form a single
Series with the Existing Notes on the date that is
40 days after the Issue Date (the Consolidation
Date)


2.
Specified Currency or Currencies:
Swedish Krona (SEK)
3.
Aggregate Nominal Amount:

·
Tranche:
SEK 5,000,000,000
·
Series:
SEK 11,000,000,000
4.
Issue Price of Tranche:
101.620 per cent. of the Aggregate Nominal
Amount plus accrued interest from (and
including) 1 June 2019 to (but excluding) the Issue
Date
5.
(a)
Specified Denomination(s):
SEK 10,000
(b)
Calculation Amount:
SEK 10,000
6.
(a)
Issue Date:
27 May 2020
(b) Interest Commencement Date:
1 June 2019
7.
Maturity Date:
1 June 2023
8.
Interest Basis:
0.625% Fixed Rate
(further particulars specified below)
9.
Redemption/Payment Basis:
Redemption at par
10.
Change of Interest Basis or
Not Applicable
Redemption/Payment Basis:
11.
Put/Call Options:
Not Applicable
12.
Method of distribution:
Syndicated
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
13.
Fixed Rate Note Provisions
Applicable
(a)
Rate of Interest:
0.625 per cent. per annum payable annually
(b)
Interest Payment Date(s):
1 June in each year, from and including, 1 June
2020, up to, and including, the Maturity Date
(c)
Fixed Coupon Amount(s):
SEK 62.50 per Calculation Amount
(d)
Broken Amount(s):
Not Applicable
(e)
Day Count Fraction:
30/360
(f)
Determination Date(s):
Not Applicable


(g)
Other terms relating to the
None
method of calculating interest
for Fixed Rate Notes:
14.
Floating Rate Note Provisions
Not Applicable
15.
Zero Coupon Note Provisions
Not Applicable
16.
Fund Linked Interest Note
Not Applicable
Provisions
17.
Index Linked Interest Note
Not Applicable
Provisions
18.
Dual Currency Interest Note
Not Applicable
Provisions
PROVISIONS RELATING TO

REDEMPTION
19.
Issuer Call:
Not Applicable
20.
Investor Put:
Not Applicable
21.
Final Redemption Amount:
SEK 10,000 per Calculation Amount
22.
Early Redemption Amount(s) payable
Not Applicable
on redemption for taxation reasons or
on event of default and/or the method
of calculating the same (if required or
if different from that set out in
Condition 8.5):
GENERAL PROVISIONS APPLICABLE TO THE NOTES
23.
(a)
Form of Notes:
BEARER NOTES

Temporary Bearer Global Note exchangeable for
a Permanent Bearer Global Note which is
exchangeable for Definitive Bearer Notes upon
an Exchange Event.
(b)
New Global Note
No
24.
Additional Financial Centre(s) or other
Not Applicable
special provisions relating to Payment
Dates:

25.
Talons for future Coupon or Receipts to
No
be attached to Definitive Notes in bearer
form (and dates on which such Talons
mature):


26.
Details relating to Partly Paid Notes:
Not Applicable
amount of each payment comprising the
Issue Price and date on which each
payment is to be made and, if different
from those specified in the Temporary
Global Note, consequences of failure to
pay, including any right of the Issuer to
forfeit the Notes and interest due on late
payment:
27.
Details relating to Instalment Notes:
Not Applicable
(a)
Instalment Amount(s):
Not Applicable
(b)
Instalment Date(s):
Not Applicable
28.
Redenomination:
Redenomination not applicable
29.
Other final terms:
Not Applicable
30.
The names of the Guarantors as at the
See attached Guarantee dated 7 May 1993, as
issue date of the relevant Tranche and
amended
details of the date, form and other
relevant details of the Guarantee given
by such Guarantors:
DISTRIBUTION

31.
(a) If syndicated, names of
Danske Bank A/S, Nordea Bank Abp and
Managers:
Swedbank AB (publ)
(a)
Stabilising Manager(s) (if any):
Not Applicable
(b)
Names of Financial
Not Applicable
Intermediaries (if any):
32.
If non-syndicated, name of relevant
Not Applicable
Dealer:
33.
Total commission and concession:
0.10% of the Aggregate Nominal Amount
34.
U.S. Selling Restrictions:
Reg S Compliance Category 2; TEFRA D
35.
Additional selling restrictions:
Not Applicable
36.
Additional U.S. Federal income tax
Not Applicable
considerations:
37.
Additional ERISA considerations:
Not Applicable
38.
Secondary (uridashi) offerings of Notes No
to be made in Japan and (i) the relevant
Securities Registration Statements or (ii)
Amendments or Supplemental




PART 2
OTHER INFORMATION
1.
LISTING AND ADMISSION TO TRADING
Listing and admission to trading:
Application has been made for the Notes to be
admitted to the Official List of the Luxembourg
Stock Exchange and to trading on the regulated
market of the Luxembourg Stock Exchange with
effect from or about the Issue Date.
2.
RATINGS
Ratings:
The Notes to be issued have been rated:

Moody's:
Aaa

S&P:
AAA
3.
REASONS FOR THE OFFER, ESTIMATED NET PROCEEDS AND TOTAL
EXPENSES

(a)
Reasons for the offer:
Management of proceeds

The net proceeds of the issue of the Notes will
be tracked by Kommuninvest in accordance
with its internal instructions, and will be
verified by an external audit firm. For
conservative purposes, and in accordance with
Kommuninvest internal instructions,
Kommuninvest will manage proceeds with an
ambition for aggregate Green Bond Proceeds
not to exceed total disbursements to Eligible
Loans. Any excess amounts will be held in
cash, Green Bonds, municipality and/or
government risk with a minimum, average
credit rating of A- by Standard & Poor's or
corresponding credit rating by another rating
agency approved by Kommuninvest. If a
financed Eligible Project no longer meets the
eligibility criteria upon approval,
Kommuninvest will remove it from the pool of
Eligible Loans. Kommuninvest will
communicate on the nature of allocations to
Eligible Projects in its Green Bonds Impact
Report, see below. The allocations will be
verified by an external audit firm.

Eligible Loans and Eligible Projects

In accordance with the Issuer's Green Bonds
Framework (as amended from time to time)
published on the Issuer's web page
http://kommuninvest.se/. As at the date of


these Final Terms: Eligible Loans create a pool
of selected loans from the Issuer which are
financing, in whole or in part, Eligible Projects
(as described below) of the Issuer's member
municipalities/county councils and their
subsidiaries; and Eligible Projects include
projects consisting of renewable energy,
energy efficiency in energy systems, green
buildings and energy efficiency, clean
transportation, waste management, water
management, adaptation measures in
buildings, infrastructure and sensitive
surroundings and environmental management.

Transparency

The Issuer will provide an annual Green Bonds
Impact Report to investors including 1) a list
of Eligible Loans/Projects exceeding SEK 25
million, including allocated amount, a brief
project description, and expected impact; 2) a
selection of project examples; 3) information
on the estimated reduced/avoided CO2-
emissions related to Eligible Projects; 4) a
summary of Kommuninvest's Green Bonds
development, including information on
aggregate Green Bond Proceeds; 5) the
distribution between new and completed
Eligible Projects and 6) key sustainability
figures for Kommuninvest, including energy
performance and CO2-emissions. The Issuer
will report environmental impact in
accordance with the guidelines outlined in
"Nordic Public Sector Issuers: Position Paper
on Green Bonds Impact Reporting", available
on the Issuer's web page.




(a)
Estimated net proceeds:
SEK 5,106,902,777.78
(b)
Estimated total expenses:
EUR 600.00
4.
YIELD (Fixed Rate Notes only)

Indication of yield:
0.086% 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


(a)
ISIN:
Until the Notes are consolidated and form a
single series with the Existing Notes on the
Consolidation Date, XS2178216904
As of the Consolidation Date, XS1897258098
(b)
Common Code:
Until the Notes are consolidated and form a
single series with the Existing Notes on the
Consolidation Date, 217821690
As of the Consolidation Date, 189725809
(c)
CFI:
DTFNFB as updated, as set out on the website of
the Association of National Numbering Agencies
(ANNA) or alternatively sourced from the
responsible National Numbering Agency that
assigned the ISIN
(d)
FISN:
KOMMUNINVEST I/.62EMTN 20230601 as
updated, as set out on the website of the
Association of National Numbering Agencies
(ANNA) or alternatively sourced from the
responsible National Numbering Agency that
assigned the ISIN
(e)
CUSIP:
Not Applicable
(f)
CINS:
Not Applicable
(g)
Any clearing system(s) other
Not Applicable
than DTC, Euroclear and
Clearstream, Luxembourg and
the relevant identification
number(s):
(h)
Agent:
Citibank, N.A., London Branch
(i)
Delivery:
Delivery against payment
(j)
Names and address of additional Not Applicable
or alternative Paying Agent(s) (if
any):
(k)
Intended to be held in a manner
No
which would allow Eurosystem
eligibility:
No. Whilst the designation is specified as "no" at
the date of these Final Terms, should the
Eurosystem eligibility criteria be amended in the
future such that the Notes are capable of meeting
them the Notes may then be deposited with one
of the ICSDs as common safekeeper. Note that
this does not mean that the Notes will be
recognised as eligible collateral for Eurosystem
monetary policy and intra day credit operations


by the Eurosystem at any time during their life.
Such recognition will depend upon the ECB
being satisfied that Eurosystem eligibility criteria
have been met.




Annex 1

Terms and Conditions

This Note is one of a series of Notes issued by Kommuninvest i Sverige Aktiebolag (publ) (the Issuer).
Reference herein to the Notes shall be references to the Notes of this Series (as defined below) and shall
mean (a) in relation to any Notes represented by a global Note, units of each Specified Denomination in
the Specified Currency, (b) definitive Notes in bearer form issued in exchange (or part exchange) for a
global Note in bearer form, (c) definitive Notes in registered form issued in exchange (or part exchange)
for a global Note in registered form, (d) any global Note, and (e) Notes in registered form in accordance
with the Swedish Financial Instruments Accounts Act (SFS 1998:1479), as amended (Swedish
Registered Notes), cleared through the Swedish Central Securities Depository & Clearing Organisation,
the Euroclear Sweden AB (Euroclear Sweden). Except in the case of Swedish Registered Notes, the
Notes, the Coupons and the Receipts (each as defined below) also have the benefit of an amended and
restated agency agreement dated 8 June 2017 (the Agency Agreement as the same may be amended or
supplemented from time to time) among the Issuer, Citibank, N.A., London Branch (the Principal
Paying Agent, which expression shall include any alternative or successor Principal Paying agent
specified in the applicable Final Terms) and the other paying agents named therein (together with the
Principal Paying Agent, the Paying Agents, which expression shall include any additional or successor
paying agents) Citibank, N.A. as exchange agent (the Exchange Agent, which expression shall include
any successor exchange agent) and Citigroup Global Markets Deutschland AG as registrar (the Non-
U.S. Registrar, which expression shall include any successor registrar), Citigroup Global Markets
Deutschland AG as U.S. Registrar (the U.S. Registrar, together with the Non-U.S. Registrar, each a
Registrar which expression shall include any successor registrar) and a transfer agent and the other
transfer agents named therein (together with the Registrar, the Transfer Agents, which expression shall
include any additional or successor transfer agents).
The Notes, the Coupons and the Receipts also have the benefit of a Guarantee (the Guarantee) details
of which are set out in the applicable Final Terms.
Interest bearing definitive Bearer Notes (unless otherwise indicated in the applicable Final Terms) have
interest coupons (Coupons) and, if indicated in the applicable Final Terms, talons for further Coupons
(Talons) attached on issue. Any reference herein to Coupons or coupons shall, unless the context
otherwise requires, be deemed to include a reference to Talons or talons. Definitive Bearer Notes
repayable in instalments have receipts (Receipts) for the payment of the instalments of principal (other
than the final instalment) attached on issue. Registered Notes and Global Notes do not have Receipts,
Coupons or Talons attached on issue.
Any reference herein to Noteholders shall mean (in the case of Bearer Notes) the holders of the Notes,
and (in the case of Registered Notes) the persons in whose name the Notes are registered and shall, in
relation to any Notes represented by a global Note and in relation to Swedish Registered Notes, be
construed as provided below. Any reference herein to Receiptholders shall mean the holders of the
Receipts and any reference herein to Couponholders shall mean the holders of the Coupons, and shall,
unless the context otherwise requires, include the holders of Talons. Swedish Registered Notes are in
dematerialised form and, for the avoidance of doubt, any references in these Terms and Conditions to
Receipts, Coupons and Talons shall not apply to Swedish Registered Notes.
The final terms for this Note are (except in the case of Swedish Registered Notes) set out in Part 1 of
the Final Terms attached hereto or incorporated hereon which supplement these Terms and Conditions
and may specify other terms and conditions which shall, to the extent so specified or to the extent
inconsistent with these Terms and Conditions, replace or modify these Terms and Conditions for the
purposes of this Note. References herein to the applicable Final Terms are to the Final Terms which
is (except in the case of Swedish Registered Notes) attached hereto or endorsed hereon.


Document Outline