Obligation Danica Bank 0% ( NO0010885353 ) en NOK

Danica Bank

100 % ▼

Danemark

NO0010885353 ( en NOK )

27/05/2026

Prospectus brochure de l'obligation Danske Bank NO0010885353 en NOK 0%, échéance 27/05/2026

2 000 000 NOK

6 000 000 000 NOK

Danske Bank est une banque de détail et d'investissement danoise, l'une des plus grandes institutions financières des pays nordiques, offrant une large gamme de services bancaires aux particuliers et aux entreprises.

L'Obligation émise par Danica Bank ( Danemark ) , en NOK, avec le code ISIN NO0010885353, paye un coupon de 0% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 27/05/2026

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 Covered
Bonds has led to the conclusion that: (i) the target market for the Covered Bonds is eligible counterparties and
professional clients only, each as defined in Directive 2014/65/EU (as amended) ("MiFID II"); and (ii) all channels for
distribution of the Covered Bonds to eligible counterparties and professional clients are appropriate. Any person
subsequently offering, selling or recommending the Covered Bonds (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 Covered Bonds (by either adopting or refining the manufacturers' target
market assessment) and determining appropriate distribution channels.
Amounts payable under the Covered Bonds will be calculated by reference to NIBOR which is provided by Norske
Finansielle Referanser AS. As at the date of these Final Terms, Norske Finansielle Referanser AS 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.
As far as the Issuer is aware, the transitional provisions in Article 51 of Regulation (EU) 2016/1011 apply such that
Norske Finansielle Referanser AS is not currently required to obtain authorisation or registration (or, if located outside
the European Union and the United Kingdom, recognition, endorsement or equivalence).
FINAL TERMS DATED 16 June 2020
Series No. 165-I
Tranche No. 1
DANSKE BANK A/S
EUR 30,000,000,000
Global Covered Bond Programme
Issue of
NOK 6,000,000,000 Floating Rate Covered Bonds due 2025
PART A CONTRACTUAL TERMS
Terms used herein shall be deemed to be defined as such for the purposes of the Standard Terms and
Conditions (the "Conditions") set forth in the Base Prospectus dated 8 November 2019, the Prospectus Supplement No.
1 dated 18 December 2019, the Prospectus Supplement No. 2 dated 5 February 2020 and the Prospectus Supplement
No. 3 dated 6 May 2020 which together constitute a base prospectus (the "Base Prospectus") for the purposes of
Regulation (EU) 2017/1129 (the "Prospectus Regulation"). This document constitutes the Final Terms of the Covered
Bonds described herein for the purposes of the Prospectus Regulation and must be read in conjunction with the Base
Prospectus in order to obtain all the relevant information. The Base Prospectus is available for viewing at, and copies
may be obtained from, the website of The Irish Stock Exchange plc, trading as Euronext Dublin ("Euronext Dublin")
at www.ise.ie for a period of 12 months following the date of the Base Prospectus (dated 8 November 2019). The Final
Terms are available for viewing at the website of Euronext Dublin at www.ise.ie.
1.
(i)
Series Number:
165-I
(ii)
Relevant Issuer Cover Pool:
Category I (International Residential Real Estate)
(iii)
Tranche Number:
1
(iv)
Date on which the Covered Bonds will
Not Applicable
be consolidated and form a single
Series:
2.
Specified Currency or Currencies:
Norwegian Kroner ("NOK")

3.
Aggregate Nominal Amount:
NOK 6,000,000,000
4.
Issue Price:
100.00 per cent. of the Aggregate Nominal Amount
5.
(i)
Specified Denomination(s):
NOK 2,000,000
(ii)
Calculation Amount:
NOK 2,000,000
6.
(i)
Issue Date:
18 June 2020
(ii)
Interest Commencement Date:
18 June 2020
7.
(i)
Maturity Date:
27 May 2025, subject to adjustment in accordance with
the Business Day Convention specified in paragraph
13(iii) below
(ii)
Extended Maturity Date:
Applicable
The Extended Maturity Date is 27 May 2026, subject to
adjustment in accordance with the Business Day
Convention specified in paragraph 13(iii) below
8.
Interest Basis:
Subject to the provisions relating to linear interpolation
applying to the short first Interest Period as referred to in
paragraph 13(ix) below, 3-month NIBOR plus 0.39 per
cent. Floating Rate from (and including) the Issue Date to
(but excluding) the Maturity Date
Thereafter, 1-month NIBOR plus 1.00 per cent. (further
particulars specified below at paragraph 13)
9.
Redemption Basis:
Subject to any purchase and cancellation or early
redemption, or, if applicable, as described in Condition
7.9, the Covered Bonds will be redeemed on the Maturity
Date at 100.00 per cent. of their nominal amount.
10.
Change of Interest Basis:
Not Applicable
11.
Put/Call Options:
Not Applicable
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
12.
Fixed Rate Covered Bond Provisions
Not Applicable
13.
Floating Rate Covered Bond Provisions
Applicable
(i)
Specified Period:
Not Applicable
(ii)
Interest Payment Date(s):
(a)
With respect to each Interest Period from (and
including) the Issue Date to (but excluding) the
Maturity Date, Interest Payment Dates will be
quarterly in arrear on 27 February, 27 May, 27
August and 27 November in each year from (and
including) 27 August 2020 to (and including) 27
May 2025, subject to adjustment in accordance
with the Business Day Convention specified in
paragraph 13(iii) below; and
(b)
with respect to each Interest Period from (and
including) the Maturity Date to (but excluding)
the Extended Maturity Date, Interest Payment
Dates will be the 27th of each month, from (and
including) 27 June 2025 to (and including) 27
May 2026, subject to adjustment in accordance

with the Business Day Convention specified in
paragraph 13(iii) below, or, if prior to 27 May
2026 the date on which the Covered Bonds are
redeemed in full.
(iii)
Business Day Convention:
Modified Following Business Day Convention
(iv)
Applicable Business Centre(s):
Stockholm and Oslo
(v)
Manner in which the Rate(s) of Interest
Screen Rate Determination
is/are to be determined:
(vi)
Party responsible for calculating the
VP Systems Agent
Rate(s) of Interest and Interest
Amount(s):
(vii)
Screen Rate Determination:
Applicable

Reference Rate:
(a)
With respect to each Interest Period from (and
including) the Issue Date to (but excluding) the
Maturity Date, subject to the provisions relating
to linear interpolation applying to the short first
interest Period as referred to in paragraph 13(ix)
below, 3-month NIBOR; and
(b)
with respect to each Interest Period from (and
including) the Maturity Date to (but excluding)
the Extended Maturity Date, 1-month NIBOR.

Interest Determination Date(s):
Second Oslo Business Day prior to the start of each
Interest Period

Relevant Screen Page:
Reuters Page OIBOR=

Relevant Time:
About 12:00 noon in the Relevant Financial Centre

Relevant Financial Centre:
Oslo

SONIA Lag Period (p):
Not Applicable

Reference Banks:
Not Applicable

Reference Rate Replacement:
Applicable
(viii)
ISDA Determination:
Not Applicable
(ix)
Linear Interpolation:
Applicable the Rate of Interest for the short first Interest
Period shall be calculated using linear interpolation in
accordance with Condition 5.2.6
(x)
Margin(s):
(a)
With respect to each Interest Period from (and
including) the Issue Date to (but excluding) the
Maturity Date, plus 0.39 per cent. per annum; and
(b)
with respect to each Interest Period from (and
including) the Maturity Date to (but excluding)
the Extended Maturity Date, plus 1.00 per cent.
per annum.
(xi)
Minimum Rate of Interest:
Not Applicable
(xii)
Maximum Rate of Interest:
Not Applicable
(xiii)
Day Count Fraction:
Actual/360
14.
Zero Coupon Covered Bond Provisions
Not Applicable

PROVISIONS RELATING TO REDEMPTION
15.
Call Option
Not Applicable
16.
Put Option
Not Applicable
17.
Final Redemption Amount

NOK 2,000,000 per Calculation Amount
18.
Early Redemption Amount (Tax) or Early

Termination Amount

Early Redemption Amount (Tax) or Early As set out in the Conditions
Termination Amount or other early redemption:
GENERAL PROVISIONS APPLICABLE TO THE COVERED BONDS
19.
Form of Covered Bonds:
VP Systems Covered Bonds issued in uncertificated and
dematerialised book entry form. See further item 4 of Part
B below.
20.
If issued as Registered Covered Bonds,
Not Applicable
Registrar:
21.
New Global Covered Bond Form/New Safe-
Not Applicable
keeping Structure:
22.
Applicable Financial Centre(s):
Oslo
23.
Talons for future Coupons to be attached to
No
Definitive Covered Bonds (and dates on which
such Talons mature):

Signed on behalf of the Issuer:

By:
.........................................................
By:
........................................................
Duly authorised

Duly authorised
CC: Citibank, N.A., London Branch, as Fiscal Agent

PART B - OTHER INFORMATION

1.
Listing and Admission to Trading

(i)
Listing:
The Oslo Børs
(ii)
Admission to trading:
Application has been made for the Covered Bonds to be
admitted to trading on The Oslo Børs's regulated market
with effect on or about 18 June 2020.
(iii)
Estimate of total expenses relating to
NOK 40,812
admission to trading:
2.
Ratings

Ratings:
The Covered Bonds to be issued are expected to be rated
AAA by S&P Global Ratings Europe Limited ("S&P")
and AAA by Fitch Ratings Limited ("Fitch").
There is no guarantee that any of the above ratings will be
maintained following the date of these Final Terms. Up-
to-date information should always be sought by direct
reference to the relevant rating agency.
Each of S&P and Fitch is established in the European
Union and is registered under Regulation (EC) No.
1060/2009 (as amended).
3.
Interests of Natural and Legal Persons involved in the Issue
Save as discussed in the "Subscription and Sale" and "General Information" sections of the Base Prospectus,
so far as the Issuer is aware, no person involved in the offer of the Covered Bonds has an interest material to
the offer.
4.
Operational Information

ISIN Code:
NO0010885353
Common Code:
Not Applicable
Intended to be held in a manner which would
No. Whilst the designation is specified as "No" at the date
allow Eurosystem eligibility:
of these Final Terms, should the Eurosystem eligibility
criteria be amended in the future such that the Covered
Bonds are capable of meeting them, the Covered Bonds
may then be deposited with one of Euroclear Bank SA/NV
and/or Clearstream Banking S.A. as common safe-keeper.
Note that this does not necessarily mean that the Covered
Bonds 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 European Central
Bank being satisfied that Eurosystem eligibility criteria
have been met.
Any clearing system(s) other than Euroclear
VPS.
Bank SA/NV, Clearstream Banking S.A. or The
The Issuer shall be entitled to obtain certain information
Depositary Trust Corporation and the relevant
from the register maintained by VPS for the purpose of
identification number(s):
performing its obligations under the issue of VP Systems
Covered Bonds.
Settlement Procedures:
Customary covered bond settlement and payment

procedures apply
Delivery:
Delivery against payment
Names and addresses of additional Paying
Not Applicable
Agent(s) (if any):
5.
Distribution

(i)
Method of distribution:
Syndicated
(ii)
If syndicated, names of Managers:
Joint-Lead Managers
Danske Bank A/S
DNB Bank ASA
Nordea Bank Abp
Skandinaviska Enskilda Banken AB (publ)
(iii)
Date of Subscription Agreement:
16 June 2020
(iv)
Stabilisation Manager(s) (if any):
Not Applicable
(v)
If non-syndicated, name of relevant
Not Applicable
Dealer:
(vi)
TEFRA Rules:
As set out in the Base Prospectus
(vii)
Prohibition of Sales to European
Not Applicable
Economic Area Retail Investors:

6.
Reasons for the offer
Use of Proceeds:
General Business Purpose

7.
Estimated Net Amount of Proceeds
Estimated Net Amount of Proceeds:
NOK 5,994,000,000