Obligation Komunalbanken 1.375% ( XS0752085612 ) en GBP

Komunalbanken

100 % ⇌

Norvege

XS0752085612 ( en GBP )

1.375% par an ( paiement annuel )

23/12/2015 - Obligation échue

Prospectus brochure de l'obligation Kommunalbanken XS0752085612 en GBP 1.375%, échue

1 000 GBP

400 000 000 GBP

Kommunalbanken est une banque publique norvégienne qui fournit des services financiers aux municipalités et aux autres entités publiques norvégiennes.

L'obligation Kommunalbanken (XS0752085612), émise en Norvège pour un montant total de 400 000 000 GBP, avec un taux d'intérêt de 1,375%, échéant le 23/12/2015, a été intégralement remboursée à son prix nominal de 100%, avec un minimum d'achat de 1000 GBP et une fréquence de paiement des coupons annuelle.

Final Terms dated 8 July 2013
KOMMUNALBANKEN AS
Issue of
GBP 100,000,000 1.375 per cent. Instruments due 23 December 2015
(the "Instruments")
(to be consolidated, become fungible and form a single Series with the GBP 100,000,000
1.375 per cent. Instruments due 23 December 2015 issued on 24 April 2012 and the GBP
200,000,000 1.375 per cent. Instruments due 23 December 2015 issued on 29 February 2012,
together the "Original Instruments")
UNDER THE
PROGRAMME FOR THE ISSUANCE OF DEBT INSTRUMENTS
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 18 April 2012. This document
constitutes the Final Terms of the Instruments described herein for the purposes of Article 5.4
of the Prospectus Directive and, save in respect of the Conditions, must be read in
conjunction with the base prospectus dated 18 April 2013, which constitutes a base
prospectus (the "Base Prospectus") for the purposes of the Prospectus Directive. The
Conditions are incorporated by reference in the Base Prospectus. Full information on the
Issuer and the offer of the Instruments is only available on the basis of the combination of
these Final Terms, the Base Prospectus and the Conditions. The Base Prospectus and the
Conditions are available for viewing at Kommunalbanken AS, Haakon VIIs gate 5b, 0110
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, 0110 Oslo, Norway and Deutsche Bank AG, London Branch,
Winchester House, 1 Great Winchester Street, London EC2N 2DB, United Kingdom.

1.
(i) Series
Number:
4010
(ii) Tranche
Number:
3
(iii)
Date on which the
The Instruments shall be consolidated, form a
Instruments become
single series and be interchangeable for trading
fungible:
purposes with the Original Instruments on the
exchange of the Temporary Global Instrument for
interests in the Permanent Global Instrument, as
described in these Final Terms
2.
Specified Currency:
Pounds Sterling ("GBP")
3.
Aggregate Principal Amount:

(i) Series:
GBP
400,000,000
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(ii) Tranche:
GBP
100,000,000
4.
Issue Price:
101.365 per cent. of the Aggregate Principal
Amount plus accrued interest from 23 December
2012
5.
(i) Specified Denominations:
GBP 1,000
(ii) Calculation Amount:
GBP 1,000
6.
(i)
Issue Date:
10 July 2013
(ii) Interest
Commencement
23 December 2012
Date:
7.
Maturity Date:
23 December 2015
8.
Types of Instruments:
Fixed Rate
9.
Interest Basis:
1.375 % per cent. Fixed Rate
(further particulars specified below)
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
principal 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
Applicable
Provisions
(i)
Interest Rate:
1.375 per cent. per annum payable annually in
arrear
(ii) Interest
Payment
23 December in each year commencing on 23
Date(s):
December 2013 (the "First Interest Payment
Date") to and including the Maturity Date.
(iii) Adjustment
of
Interest Interest Payment Dates will not be adjusted for
Payment Date(s) for
calculation of interest; however, for payment
payment purposes:
purposes only, the Following Business Day
Convention will apply
(iv)
Fixed Coupon
GBP 13.75 per Calculation Amount
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Amount[(s)]:
(v)
Party responsible for
Deutsche Bank AG, London
calculating the Fixed
Coupon Amount(s):
(vi)
Broken Amount(s):
Not Applicable
(vii)
Day Count Fraction:
Actual/Actual (ICMA)
(viii)
Determination Dates:
23 December in each year
(ix) Additional

Financial Not Applicable
Centre(s) relating to
Business Days:
15.
Floating Rate Instrument
Not Applicable
Provisions
16.
Fixed Interest Discounted
Not Applicable
Issue Instrument Provisions
17.
Zero Coupon Instrument
Not Applicable
Provisions
18.
Index Linked Interest
Not Applicable
Instrument Provisions
19.
Share Linked Interest
Not Applicable
Instrument Provisions
20.
FX Linked Interest
Not Applicable
Instrument Provisions
21.
Fund Linked Interest
Not Applicable
Instrument Provisions
PROVISIONS RELATING TO REDEMPTION
22.
Call Option
Not Applicable
23.
Put Option
Not Applicable
24.
Automatic Early Redemption
Not Applicable
25.
Maturity Redemption Amount GBP 1,000 per Calculation Amount
of each Instrument
26.
Early Redemption Amount

(i) Early
Redemption
GBP 1,000 per Calculation Amount
Amount(s) per
Calculation Amount
payable on redemption
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for taxation reasons
(ii) Early
Redemption
GBP 1,000 per Calculation Amount
Amount(s) per
Calculation Amount

payable on event of
default or other early
redemption):
27.
Index Linked Redemption
Not Applicable
Instruments
28.
Share Linked Redemption
Not Applicable
Instruments
29.
FX Linked Redemption
Not Applicable
Instruments
30.
Instruments with Dual or
Not Applicable
Other Currency Settlement
Conditions
31.
Fund Linked Redemption
Not Applicable
Instruments
32.
Commodity Linked
Not Applicable
Redemption Instruments:
33.
Physical Delivery
Not Applicable
Instruments:
GENERAL PROVISIONS APPLICABLE TO THE INSTRUMENTS
34.
Form of Instruments:
Bearer Instruments:

Temporary Global Instrument exchangeable for a
Permanent Global Instrument which is
exchangeable for Definitive Bearer Instruments in
the limited circumstances specified in the
Permanent Global Instrument
35.
New Global Instrument:
Yes
36.
Relevant Financial Centre(s) or
London
other special provisions relating
to Payment Dates:
37.
Additional Financial Centre(s)
Not Applicable
relating to Relevant Financial
Centre Days:
38.
Talons for future Coupons or
No
Receipts to be attached to
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PART B - OTHER INFORMATION
1.
LISTING AND ADMISSION TO TRADING
(i) Listing:
Luxembourg
(ii)
Admission to trading:
Application has been made by the Issuer (or
on its behalf) for the Instruments to be
admitted to listing on the official list of the
Luxembourg Stock Exchange and to trading
on the regulated market of the Luxembourg
Stock Exchange
The Original Instruments have been admitted
to trading on the regulated market of the
Luxembourg Stock Exchange
(iii)
Estimate of total expenses
EUR 400

related to admission to
trading:
2.
RATINGS
The Programme under which the Instruments are to be issued has been rated:
Standard & Poor's Credit Market Services Europe Limited: AAA
Moody's Investors Service Ltd: Aaa
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
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 requirements
(ii)
Estimated net proceeds:
GBP 102,114,657.53
(iii)
Estimated total expenses:
Not Applicable
4.
(Fixed Rate Instruments only) - YIELD
Indication of yield:
0.821per cent. per annum
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5.
OPERATIONAL INFORMATION
Temporary ISIN Code:
XS0951798866
Temporary Common Code:
095179886
Permanent ISIN Code:
XS0752085612
Permanent Common Code:
075208561
CUSIP Number
Not Applicable
New Global Instrument intended to
No
be held in a manner 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 Instruments are capable
of meeting them the Instruments may then be
deposited with Euroclear or Clearstream,
Luxembourg as common safekeeper. Note that
this does not necessarily mean that the
Instruments will then be recognised as eligible
collateral for Eurosystem monetary policy and
intraday 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.
Clearing system(s):
Euroclear/Clearstream
Delivery:
Delivery against payment
Names and addresses of additional
Not Applicable
Paying Agent(s) or Foreign
Exchange Agent(s) (if any):
Name and address of Luxembourg
Not Applicable
Intermediary Agent:
6.
DISTRIBUTION
(In the left hand column under "Distribution" the words in square brackets should be
included for retail issue only)
(i)
Method of distribution:
Non-syndicated
(ii) If non-syndicated, name and
HSBC Bank plc
address of Manager:
8 Canada Square, London E14 5HQ
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(iii) Stabilising
Manager(s)
(if
Not Applicable
any):
(iv) Total (underwriting and
0.00 per cent. of the Aggregate Principal
placing) commission and
Amount
concession:
(v)
U.S. Selling Restrictions:
Regulation S Category 2
TEFRA
D
(vi) Public Offer:
The Issuer does not consent to the use of the
Base Prospectus in connection with a Public
Offer of the Instruments by any person

7.
TERMS AND CONDITIONS OF THE OFFER
Offer Price:
Issue Price
Conditions to which the offer is
Not Applicable
subject:
Description of the application
Not Applicable
process:
Description of possibility to reduce
Not Applicable
subscriptions and manner for
refunding excess amount paid by
applicants:
Details of the minimum and/or
Not Applicable
maximum amount of application:
Details of the method and time
Not Applicable
limits for paying up and delivering
the Instruments:
Manner in and date on which
Not Applicable
results of the offer are to be made
public:
Procedure for exercise of any right
Not Applicable
of pre-emption, negotiability of
subscription rights and treatment of
subscription rights not exercised:
If the offer is being made
Not Applicable
simultaneously in the markets of
two or more countries and if a
tranche has been or is being
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reserved for certain of these,
indicate any such tranche.
Process for notification to
Not Applicable
applicants of the amount allotted
and the indication whether dealing
may begin before notification is
made:
Amount of any expenses and taxes
Not Applicable
specifically charged to the
subscriber or purchaser:
Name(s) and address(es), to the
None
extent known to the Issuer, of the
placers in the various countries
where the offer takes place:

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SUMMARY OF THE ISSUE
Summaries are made up of disclosure requirements known as "Elements". These elements are
numbered in Sections A - E (A.1 - E.7).
This summary contains all the Elements required to be included in a summary for this type of
securities and issuer. Because some Elements are not required to be addressed, there may be
gaps in the numbering sequence of the Elements.
Even though an Element may be required to be inserted in the summary because of the type
of securities and issuer, it is possible that no relevant information can be given regarding the
Element. In this case a short description of the Element is included in the summary with the
mention of "Not Applicable".
Section A - Introduction and Warnings
A.1 Introduction:

This summary should be read as introduction to the Base
Prospectus; and any decision to invest in the Instruments should be
based on consideration of the Base Prospectus as a whole by the
investor. Where a claim relating to the information contained in
the Base Prospectus is brought before a court, the plaintiff investor
might, under the national legislation of the Member State, have to
bear the costs of translating the Base Prospectus before the legal
proceedings are initiated. Civil liability attaches only to those
persons who have tabled the summary including any translation
thereof, but only if the summary is misleading, inaccurate or
inconsistent when read together with the other parts of the Base
Prospectus or it does not provide, when read together with the
other parts of the Base Prospectus, key information in order to aid
investors when considering whether to invest in such Instruments.
A.2 Consent:
Not Applicable.

Section B Issuer
B.1
Legal name of the
Kommunalbanken AS ("KBN" or the "Issuer")
Issuer:
Commercial
name
of
Kommunalbanken Norway (KBN)
the Issuer:
B.2
Domicile, legal form,
The Issuer is registered in Norway as a joint stock
legislation and country
company under the Norwegian law for limited
of incorporation of the
companies (Lov om aksjeselskap).
Issuer:
B.4b Trends:
Not Applicable. There is no known trend affecting the
Issuer and the industry in which it operates.
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