Obbligazione Volva 0% ( XS2075216395 ) in SEK

Volva

100 SEK ⇌

Svezia

XS2075216395 ( in SEK )

04/11/2022 - Obbligazione è scaduto

Prospetto opuscolo dell'obbligazione Volvo XS2075216395 in SEK 0%, scaduta

1 000 000 SEK

3 300 000 000 SEK

Volvo è un'azienda automobilistica svedese nota per la produzione di veicoli sicuri, affidabili e di lusso, con una crescente attenzione alla sostenibilità e all'elettrificazione.

L'obbligazione Volvo con codice ISIN XS2075216395, emessa in Svezia in SEK per un ammontare totale di 3.300.000.000, con cedola zero, scadenza 04/11/2022, taglio minimo di 1.000.000 e frequenza di pagamento 1, è giunta a scadenza ed è stata rimborsata al 100%.

FINAL TERMS

PROHIBITION OF SALES TO EEA AND UK RETAIL INVESTORS -The Notes 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") or in the United Kingdom ("UK"). 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"); or (ii) a customer within the meaning of Directive (EU) 2016/97, 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 the Prospectus Regulation (as defined below). Consequently no key information
document required by Regulation (EU) No 1286/2014 (the "PRIIPs Regulation") for offering or selling the Notes
or otherwise making them available to retail investors in the EEA or in the UK has been prepared and therefore
offering or selling the Notes or otherwise making them available to any retail investor in the EEA or in the UK
may be unlawful under the PRIIPs Regulation.
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 Notes has led to the conclusion that: (i) the target
market for the Notes is eligible counterparties and professional clients only, each as defined in MiFID II; and (ii)
all channels for distribution of the Notes to eligible counterparties and professional clients are appropriate. Any
person subsequently offering, selling or recommending the Notes (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 Notes (by either adopting or refining the
manufacturer's/ target market assessment) and determining appropriate distribution channels. For the avoidance of
doubt, neither the Issuer nor the Parent is a manufacturer for the purposes of the MiFID Product Governance Rules.
2 December 2020
VOLVO TREASURY AB (publ) (the "Issuer")
Legal Entity Identifier (LEI): 549300PD69T87IGZG395

Issue of SEK 1,000,000,000 Floating Rate Notes due November 2022, Series 406, tranche 3 (the "Notes")
(to be consolidated and form a single Series with the existing SEK 300,000,000 Floating Rate Notes due
November 2022 issued on 6 May 2020 ("tranche 2 Notes") and the SEK 2,000,000,000 Floating Rate Notes
due November 2022 issued on 4 November 2019 (the "tranche 1 Notes" and together with the tranche 2
Notes the "Existing Notes")
guaranteed by AB Volvo (publ) (the "Guarantor") issued pursuant to the U.S.$15,000,000,000 Euro
Medium Term Note Programme

PART A CONTRACTUAL TERMS
Terms used herein shall be deemed to be defined as such for the purposes of the terms and conditions set forth in
the prospectus dated 8 May 2019 (the "Conditions") which are incorporated by reference in the prospectus dated
7 May 2020 (the "Prospectus"). This document constitutes the Final Terms of the Notes described herein for the
purposes of Article 8 of Regulation (EU) 2017/1129 (the "Prospectus Regulation") and must be read in
conjunction with the Prospectus and the supplements to the Prospectus dated 15 May 2020, 24 June 2020, 22 July
2020 and 9 November 2020 (the "Supplements"), which together constitute a base prospectus for the purposes of
the Prospectus Regulation, including the Conditions incorporated by reference in the Prospectus, in order to obtain
all the relevant information. The Prospectus and the Supplements have been published on the website of the
Luxembourg Stock Exchange (www.bourse.lu) and the Volvo Group (www.volvogroup.com) and are available
for viewing at, and copies may be obtained from, the registered office of the Issuer and from the specified offices
of the Paying Agents in London and Luxembourg.

1.
(i)
Series Number:
406
(ii)
Tranche Number:
3

(iii)
Date on which the Notes will be
The Notes will be consolidated and form a single Series
consolidated and form a single
with the Existing Notes on exchange of the Temporary
Series:
Global Note for interests in the Permanent Global Note,
as referred to in paragraph 23 below, which is expected to
occur on or about 13 January 2021.
2.
Specified Currency or Currencies:
Swedish Kronor ("SEK")
3.
Aggregate Nominal Amount:

(i)
Series:
3,300,000,000
(ii)
Tranche:
1,000,000,000
4.
Issue Price:
100.122 per cent. of the Aggregate Nominal Amount plus
accrued interest from and including the Interest
Commencement Date to but excluding the Issue
Date amounting to SEK 361,666.67
5.
(i)
Specified Denomination(s):
SEK 2,000,000 and integral multiples of SEK 1,000,000
in excess thereof up to and including SEK 3,000,000.
(Note: no notes in definitive form to be issued with a
denomination above SEK 3,000,000).
(ii)
Calculation Amount:
SEK 1,000,000
6.
(i)
Issue Date:
4 December 2020
(ii)
Interest Commencement Date:
4 November 2020
7.
Maturity Date:
Interest Payment Date falling in or nearest to November
2022
8.
Interest Basis:
3-month STIBOR + 0.51 per cent. Floating Rate
9.
Redemption/Payment Basis:
Subject to any purchase and cancellation or early
redemption, the Notes will be redeemed on the Maturity
Date at 100 per cent. of their nominal amount
10.
Change of Interest Basis:
Not Applicable
11.
Put/Call Options:
Not Applicable
12.
Date of approval for issuance of Notes
21 October 2014
obtained:
Provisions Relating to Interest (if any) Payable
13.
Fixed Rate Note Provisions
Not Applicable
14.
Floating Rate Note Provisions
Applicable

(i)
Specified
Period(s)/Specified
4 February, 4 May, 4 August and 4 November in each year
Interest Payment Dates:
from and including 4 February 2021, up to and including
the Maturity Date

(ii)
Business Day Convention:
Modified Following Business Day Convention
(iii)
Additional Business Centre(s):
Not Applicable

(iv)
Manner in which the Rate of
Screen Rate Determination
Interest and Interest Amount is to
be determined:
(v)
Party responsible for calculating
Not Applicable
the Rate of Interest and Interest
Amount (if not the Agent):
(vi)
Screen Rate Determination:
Applicable

- Reference Rate and
Reference Rate: 3-month STIBOR
Relevant Financial
Centre:
Relevant Financial Centre: Stockholm
- Interest Determination
11.00 a.m. Stockholm time on the second Stockholm
Date(s):
Business Day prior to the start of each Interest Period
- Relevant Screen Page:
Reuters Screen SIDE page
(vii)
ISDA Determination:
Not Applicable
(viii)
Linear Interpolation:
Not Applicable
(ix)
Margin(s):
+ 0.51 per cent. per annum
(x)
Minimum Rate of Interest:
Not Applicable
(xi)
Maximum Rate of Interest:
Not Applicable
(xii)
Day Count Fraction:
Actual/360
(xiii)
Reference Rate Replacement:
Not Applicable
15.
Zero Coupon Note Provisions
Not Applicable

Provisions Relating to Redemption
16.
Issuer Call:
Not Applicable
17.
Make-whole Redemption by the Issuer:
Not Applicable
18.
Clean-up Call:
Not Applicable
19.
Residual Maturity Call:
Not Applicable

20.
Investor Put:
Not Applicable

21.
Final Redemption Amount:
Subject to any purchase or cancellation or early
redemption, the Notes will be redeemed on the Maturity
Date at SEK 1,000,000 per Calculation Amount
22.
Early Redemption Amount payable on
SEK 1,000,000 per Calculation Amount
redemption for taxation reasons or on
event of default:
General Provisions Applicable to the Notes

23.
Form of Notes:

(a)
Form of Notes:
Temporary Global Note exchangeable for a Permanent
Global Note which is exchangeable for Definitive Notes
only upon an Exchange Event
(b)
New Global Note:
No
24.
Additional Financial Centre(s):
Not Applicable
25.
Talons for future Coupons to be attached
No
to Definitive Notes:

Signed on behalf of the Issuer:

By:
_________________________________
Duly authorised

PART B OTHER INFORMATION
1.
LISTING AND ADMISSION TO TRADING
(i)
Listing
and
admission
to
Application has been made by the Issuer (or on its behalf)
trading:
for the Notes to be listed on the Official List of the
Luxembourg Stock Exchange and admitted to trading on
the regulated market of the Luxembourg Stock Exchange,
with effect from the Issue Date
The Existing Notes are listed on the Official List of the
Luxembourg Stock Exchange and admitted to trading on
the regulated market of the Luxembourg Stock Exchange
(ii)
Estimate of total expenses
EUR 600
related to admission to trading:
2.
RATINGS

Ratings:
The Notes to be issued have been rated A3 by Moody's
Investors Service (Nordics) AB ("Moody's") and A- by
S&P Global Ratings Europe Limited ("S&P")

Each of Moody's and S&P is established in the European
Union and is registered under Regulation (EC) No.
1060/2009 (as amended). As such each of Moody's and
S&P is included in the list of credit rating agencies
published by the European Securities and Markets
Authority on its website in accordance with such
Regulation.
According to Moodys' rating system, obligations rated "A"
are judged to be upper-medium grade with low credit risk.
Moody's appends numerical modifiers 1, 2, and 3 to each
generic rating classification from "Aa" through "Caa". The
modifier 1 indicates that the obligation ranks in the higher
end of its generic rating category; the modifier 2 indicates
a mid-range ranking; and the modifier 3 indicates a ranking
in the lower end of that generic rating category. According
to S&P's rating system, an obligation rated "A" is
somewhat more susceptible to the adverse effects of
changes in circumstances and economic conditions than
obligations in higher-rated categories. However, the
obligor's capacity to meet its financial commitments on the
obligation is still strong. The addition of pluses and
minuses provides further distinctions within the ratings
range.
3.
INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE
Save for any fees payable to the Dealer, so far as the Issuer is aware, no person involved in the issue of
the Notes has an interest material to the offer. The Dealer and its affiliates have engaged, and may in the
future engage, in investment banking and/or commercial banking transactions with, and may perform
other services for, the Issuer and the Guarantor and their affiliates in the ordinary course of business.
4.
USE AND ESTIMATED NET AMOUNT OF PROCEEDS
(i) Use of proceeds:
General funding purposes
(ii) Estimated net amount of proceeds:
SEK 1,000,981,666.67

5.
BENCHMARKS REGULATION - FLOATING RATE NOTES CALCULATED BY
REFERENCE TO A BENCHMARK ONLY

Amounts payable under the Notes will be calculated by
reference to STIBOR which is provided by the Swedish
Financial Benchmark Facility ("SFBF"). As at the date of
these Final Terms, SFBF does not appear on the register of
administrators and benchmarks established and maintained
by the European Securities and Markets Authority
pursuant to Article 36 of Regulation (EU) 2016/1011.
6.
YIELD
Not Applicable

7.
DISTRIBUTION
(i)
If
syndicated,
names
of
Not Applicable
Managers:
(ii)
Date
of
Subscription
Not Applicable
Agreement:
(iii)
Stabilisation
Manager(s)
(if
Not Applicable
any):
(iv)
If non-syndicated, name and
Swedbank AB (publ)
address of relevant Dealer:
SE -105 34 Stockholm
Sweden

(v)
TEFRA:
TEFRA D
(vi)
Prohibition of Sales to EEA and
Applicable
UK Retail Investors:

8.
OPERATIONAL INFORMATION
(i)
ISIN Code:
Temporary ISIN Code: XS2268199168
Permanent ISIN Code applicable on consolidation with the
Existing Notes: XS2075216395
(ii)
Common Code:
Temporary Common Code: 226819916
Permanent Common Code applicable on consolidation
with the Existing Notes: 207521639
(iii)
CFI:
DTVNFB, 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
(iv)
FISN:
VOLVO TREASURY/VAREMTN 20221100, 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
(v)
Any clearing system(s) other
Not Applicable
than Euroclear Bank SA/NV and
Clearstream Banking S.A. and

the
relevant
identification
number(s):
(vi)
Delivery:
Delivery against payment
(vii)
Names
and
addresses
of
Not Applicable
additional Paying Agent(s) (if
any):
(viii)
Intended to be held in a manner
No. Whilst the designation is specified as "no" at the date
which would allow Eurosystem
of these Final Terms, should the Eurosystem eligibility
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 necessarily mean that the Notes will then 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.
9.
THIRD PARTY INFORMATION
Not Applicable