Obbligazione Komunalbanken AS 0.281% ( XS1964612565 ) in USD

Emittente Komunalbanken AS
Prezzo di mercato 100 USD  ⇌ 
Paese  Norvegia
Codice isin  XS1964612565 ( in USD )
Tasso d'interesse 0.281% per anno ( pagato 4 volte l'anno)
Scadenza 14/04/2021 - Obbligazione è scaduto



Prospetto opuscolo dell'obbligazione Kommunalbanken AS XS1964612565 in USD 0.281%, scaduta


Importo minimo 200 000 USD
Importo totale 1 000 000 000 USD
Descrizione dettagliata Kommunalbanken AS è una banca norvegese di proprietà pubblica che fornisce servizi finanziari ai comuni e alle contee norvegesi.

L'obbligazione Kommunalbanken AS (XS1964612565), emessa in Norvegia per un ammontare totale di 1.000.000.000 USD con scadenza il 14/04/2021 e cedola del 0,281% pagata con frequenza quadrimestrale, è giunta a scadenza ed è stata rimborsata al 100% del valore nominale.







MiFID II PRODUCT GOVERNANCE / Professional investors and eligible
counterparties only target market - Solely for the purposes of each 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 each 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 20 March 2019
KOMMUNALBANKEN AS
Legal entity identifier (LEI): I7ETN0QQO2AHZZGHJ389
Issue of
USD 250,000,000 Floating Rate Instruments due 15 April 2021
(the "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 Joint Lead 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 Joint
Lead 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 6 April 2018 which constitutes a
base prospectus for the purposes of the Prospectus Directive (the "Base Prospectus"). 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

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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, 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:
5479
(ii)
Tranche Number:
2
(iii)
Date on which the
Issue Date
Instruments become
fungible:
2.
Specified Currency:
United States Dollars ("USD")
3.
Aggregate Principal Amount:

(i)
Series:
USD 1,000,000,000
(ii)
Tranche:
USD 250,000,000
4.
Issue Price:
100.020 per cent. of the Aggregate Principal
Amount plus accrued interest from, and
including, the Interest Commencement Date
to, but excluding, the Issue Date (amounting to
USD 34,888.22)
5.
(i)
Specified Denominations:
USD 200,000 and integral multiples of USD
2,000 in excess thereof up to USD 398,000.
No Instruments in definitive form will be
issued with a denomination above USD
398,000
(ii)
Calculation Amount:
USD 2,000
6.
(i)
Issue Date:
21 March 2019
(ii)
Interest Commencement
Issue Date
Date:
7.
Maturity Date:
Interest Payment Date falling in or nearest to
April 2021
8.
Types of Instruments:
Floating Rate
9.
Interest Basis:
3 month USD LIBOR
+ 0.04 per cent. Floating Rate
(further particulars specified below)


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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 Provisions
Not Applicable
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
15 January, 15 April, 15 July and 15 October
of each year, commencing on the First
Interest Payment Date, up to and including
the Maturity Date
(iv)
First Interest Payment Date:
15 April 2019
(v)
Business Day Convention:
Modified Following Business Day
Convention
(vi)
Manner in which the Interest
Screen Rate Determination
Rate(s) is/are to be
determined:
(vii)
Screen Rate Determination:
Applicable
·
Reference Rate:
3-month USD LIBOR, other than for the first
Interest Period
·
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

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·
Relevant Financial
London
Centre:
·
Variable Rate:
Not Applicable
(viii)
ISDA Determination:
Not Applicable
(ix)
Linear Interpolation:
Applicable ­ the Interest Rate for the short
first Interest Period shall be calculated using
Linear Interpolation between 1-week USD
LIBOR and 1-month USD LIBOR
(x)
Margin(s):
+0.04 per cent. per annum
(xi)
Minimum Interest Rate:
Not Applicable
(xii)
Maximum Interest Rate:
Not Applicable
(xiii)
Day Count Fraction:
Actual/360
(xiv)
Weighted Average Reference Not Applicable
Rate:

16.
Fixed Interest Discounted Issue
Not Applicable
Instrument Provisions
17.
Zero Coupon Instrument
Not Applicable
Provisions
18.
Index Linked Interest Instrument
Not Applicable
Provisions
19.
Share Linked Interest Instrument
Not Applicable
Provisions
20.
FX Linked Interest Instrument
Not Applicable
Provisions
21.
Fund Linked Interest Instrument
Not Applicable
Provisions
PROVISIONS RELATING TO REDEMPTION
22.
Notice periods for Condition 6.2
As set out in Condition 6.2
(Early Redemption for Taxation
Reasons):
23.
Call Option
Not Applicable
24.
Put Option
Not Applicable

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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
35.
Form of Instruments:
Registered Instruments:

Regulation S Instrument and Rule 144A
Instrument
36.
New Global Instrument:
Not Applicable
37.
New Safekeeping Structure:
No
38.
Applicable Financial Centre(s) or
London and New York
other special provisions relating to

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Payment Dates:
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: amount of each
payment comprising the Issue Price
and date on which each payment is
to be made:
41.
Details relating to Instalment
Not Applicable
Instruments: amount of each
instalment, date on which each
payment is to be made:
42.
Calculation Agent (including, in the
Deutsche Bank AG, London Branch
case of Renminbi Instruments, the
Winchester House
party responsible for calculating the
1 Great Winchester Street
Fixed Coupon Amount(s)):
London EC2N 2DB
United Kingdom
SIGNATURE
Signed on behalf of the Issuer:
By:
Duly authorised



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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
(iii)
Estimate of total expenses
EUR 2400 (listing fee)
related to admission to
trading:
2.
RATINGS
The Issuer's long-term senior debt has been rated:
S&P Global Ratings Europe Limited ("Standard & Poor's"): AAA
Moody's Investors Service Ltd ("Moody's"): 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 and Moody's 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 ("ESMA") 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
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

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requirements
(ii)
Estimated net proceeds:
250,084,888.22 (including USD 34,888.22
accrued interest)
(iii)
Estimated total expenses:
Not Applicable
5.
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
Regulation S ISIN Code:
XS1964612565
Regulation S Common Code:
196461256
144A ISIN Code
US50048MCR97
144A Common Code
196533559
CUSIP Number:
50048MCR9
Intended to be held in a manner
Not Applicable
which would allow Eurosystem
eligibility:
Clearing system(s):
Euroclear / Clearstream, Luxembourg / DTC
Delivery:
Delivery against payment
Names and addresses of additional
Not Applicable
Paying Agent(s) or Foreign
Exchange Agent(s) (if any):

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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:
(iv)
If non-syndicated, name and Bank of Montreal, London Branch
address of Manager:
95 Queen Victoria Street
London EC4V 4HG
United Kingdom

(v)
Stabilising Manager(s) (if
Nomura International plc
any):
(vi)
Total (underwriting and
0.00 per cent. of the Aggregate Principal
placing) commission and
Amount
concession:
(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
(ix)
Prohibition of sales to EEA
Not Applicable
Retail Investors:
11.
TERMS AND CONDITIONS OF THE OFFER
Not Applicable



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Document Outline