Obligation Komunalbanken AS 1.5% ( XS1808823592 ) en NOK

Société émettrice Komunalbanken AS
Prix sur le marché 100 %  ▼ 
Pays  Norvege
Code ISIN  XS1808823592 ( en NOK )
Coupon 1.5% par an ( paiement annuel )
Echéance 18/04/2022 - Obligation échue



Prospectus brochure de l'obligation Kommunalbanken AS XS1808823592 en NOK 1.5%, échue


Montant Minimal 10 000 NOK
Montant de l'émission 2 200 000 000 NOK
Description détaillée Kommunalbanken AS est une banque norvégienne publique qui fournit des services financiers aux municipalités et aux autres entités du secteur public en Norvège.

L'Obligation émise par Komunalbanken AS ( Norvege ) , en NOK, avec le code ISIN XS1808823592, paye un coupon de 1.5% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 18/04/2022







MiFID II PRODUCT GOVERNANCE / Retail investors, professional investors and
eligible counterparties target market - Solely for the purposes of the 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, professional
clients and retail clients, 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
are appropriate. Any person subsequently offering, selling or recommending the Instruments
(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 Instruments (by either adopting or refining the manufacturer's
target market assessment) and determining appropriate distribution channels.
Final Terms dated 27 May 2019
KOMMUNALBANKEN AS
Legal Entity Identifier: I7ETN0QQO2AHZZGHJ389
Issue of
NOK 700,000,000 1.50 per cent. Instruments due 19 April 2022
(the "Instruments")

(to be consolidated and form a single Series with the existing NOK 1,000,000,000 1.50 per cent.
Instruments due 19 April 2022 issued on 19 April 2018 and the existing NOK 500,000,000 1.50 per
cent. Instruments due 19 April 2022 issued on 30 April 2018 (the "Original 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 the 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 the 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 set
forth in the base prospectus dated 22 March 2019 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 on the basis of the
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combination of these Final Terms and the Base Prospectus. A summary of the Instruments
(which comprises the summary in the Base Prospectus as amended to reflect the provisions of
these Final Terms) is annexed to these Final Terms. 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 Grefat 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:
5453
(ii)
Tranche Number:
3
(iii)
Date on which the
The Instruments shall be consolidated, form a
Instruments become
single series and be interchangeable for
fungible:
trading purposes with the Original Instruments
on the Issue Date
Exchange of the Temporary Global
Instruments representing both the Instruments
and the Original Instruments for interests in a
Permanent Global Instrument, as described in
these Final Terms, will occur not earlier than
40 days from the Issue Date of the Instruments
following the expiration of the distribution
compliance period (as defined in Regulation
S)
2.
Specified Currency:
Norwegian Kroner ("NOK")
3.
Aggregate Principal Amount:

(i)
Series:
NOK 2,200,000,000
(ii)
Tranche:
NOK 700,000,000
4.
Issue Price:
99.303 per cent. of the Aggregate Principal
Amount plus accrued interest of NOK
1,147,540.98 from, and including, the Interest
Commencement Date to, but excluding, the
Issue Date
5.
(i)
Specified Denominations:
NOK 10,000 and integral multiples of NOK
10,000 thereafter
(ii)
Calculation Amount:
NOK 10,000
6.
(i)
Issue Date:
29 May 2019
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(ii)
Interest Commencement
19 April 2019
Date:
7.
Maturity Date:
19 April 2022
8.
Types of Instruments:
Fixed Rate
9.
Interest Basis:
1.50 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 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
Applicable
Provisions
(i)
Interest Rate:
1.50 per cent. per annum payable annually in
arrear
(ii)
Interest Payment Date(s):
19 April in each year from and including 19
April 2020 up to and including the Maturity
Date
(iii)
Adjustment of Interest
Interest Payment Dates will not be adjusted
Payment Date(s) for
for calculation of interest; however, for
payment purposes:
payment purposes only, the Following
Business Day Convention will apply
(iv)
Fixed Coupon Amount(s):
NOK 150 per Calculation Amount
(v)
Broken Amount(s):
Not Applicable
(vi)
Day Count Fraction:
Actual/Actual (ICMA)
(vii)
Determination Dates:
19 April in each year
15.
Floating Rate Instrument
Not Applicable
Provisions
16.
Fixed Interest Discounted Issue
Not Applicable
Instrument Provisions
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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 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
25.
Automatic Early Redemption
Not Applicable
26.
Maturity Redemption Amount of NOK 10,000 per Calculation Amount
each Instrument
27.
Early Redemption Amount

(i)
Early Redemption
NOK 10,000 per Calculation Amount
Amount(s) per Calculation
Amount payable on
redemption for taxation
reasons:
(ii)
Early Redemption
NOK 10,000 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
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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:
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
36.
New Global Instrument:
No
37.
New Safekeeping Structure:
No
38.
Applicable Financial Centre(s) or
Oslo
other special provisions relating to
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:
41.
Details relating to Instalment
Not Applicable
Instruments:
42.
Calculation Agent (including, in
Not Applicable
the case of Renminbi Instruments,
the party responsible for calculating
the Fixed Coupon Amount(s)):
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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
The Original Instruments have been listed on
the Official List of the Luxembourg Stock
Exchange
(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
The Original Instruments have been admitted
to trading on the regulated market of the
Luxembourg Stock Exchange
(iii)
Estimate of total expenses
EUR 600 (listing fee)
related to admission to
trading:
2.
RATINGS
The Issuer's long-term senior debt has been rated:
Standard & Poor's Credit Market Services Europe Limited: AAA
Moody's Investors Service Ltd: Aaa
Standard & Poor's Credit Market Services Europe Limited and Moody's Investors
Service Ltd 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


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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 requirements
(ii)
Estimated net proceeds:
NOK 695,869,540.98 (including forty days of
accrued interest amounting to
NOK
1,147,540.98)
(iii)
Estimated total expenses:
Not Applicable
5.
YIELD
Indication of yield:
1.749 per cent. per annum
6.
OPERATIONAL INFORMATION
ISIN Code:
Until the Instruments are consolidated,
become fungible with and form a single
Series with the Original Instruments, the
Instruments will have the temporary ISIN
XS2004430398. After that, the Instruments
will have the same ISIN as the Original
Instruments, which is XS1808823592

Common Code:
Until the Instruments are consolidated,
become fungible with and form a single
Series with the Original Instruments, the
Instruments will have the temporary
Common Code 200443039. After that, the
Instruments will have the same Common
Code as the Original Instruments, which is
180882359

CUSIP Number:
Not Applicable
Intended to be held in a manner
No. Whilst the designation is specified as "no"
which would allow Eurosystem
at the date of these Final Terms, should the
eligibility:
Eurosystem eligibility criteria be amended in
the future such that the Instruments are
capable of meeting them the Instruments may
then be deposited with one of the ICSDs 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 intra day
credit operations by the Eurosystem at any
time during their life. Such recognition will
depend upon the European Central Bank being
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satisfied that Eurosystem eligibility criteria
have been met.
Clearing system(s):
Euroclear/Clearstream, Luxembourg
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:
7.
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 DNB Bank ASA
address of Manager:
Dronning Eufemias gt 30
N-0191 Oslo
Norway
(v)
Stabilising Manager(s) (if
Not Applicable
any):
(vi)
Total (underwriting and
0.057 per cent. of the Aggregate Principal
placing) commission and
Amount
concession:
(vii)
U.S. Selling Restrictions:
Regulation S Category 2; TEFRA D
(viii) Public Offer:
Not Applicable
(ix)
Prohibition of sales to EEA
Not Applicable
Retail Investors:
(x) Prohibition of sales to
Applicable
Belgian Consumers:
(x)
Secondary offerings
No
(uridashi) of the
Instruments to be made in

Japan and (i) the relevant
Securities Registration
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Statements or (ii)
Supplemental Documents to
Shelf Registration
Statements (and
Amendments to Shelf
Registration Statements, if
applicable) under Financial
Instruments and Exchange
Act of Japan (Law No. 25
of 1948, as amended) in
respect of the Instruments
were filed prior to 22 March
2019:


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Document Outline