Obligation Komunalbanken AS 1.5% ( XS1888278295 ) en GBP

Société émettrice Komunalbanken AS
Prix sur le marché 100 %  ⇌ 
Pays  Norvege
Code ISIN  XS1888278295 ( en GBP )
Coupon 1.5% par an ( paiement annuel )
Echéance 15/12/2023 - Obligation échue



Prospectus brochure de l'obligation KOMMUNALBANKEN AS XS1888278295 en GBP 1.5%, échue


Montant Minimal 100 000 GBP
Montant de l'émission 350 000 000 GBP
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 GBP, avec le code ISIN XS1888278295, paye un coupon de 1.5% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 15/12/2023







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 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
Instruments (by either adopting or refining the manufacturers' target market assessment) and
determining appropriate distribution channels.
Final Terms dated 12 March 2019
KOMMUNALBANKEN AS
Legal entity identifier (LEI): I7ETN0QQO2AHZZGHJ389
Issue of
GBP 100,000,000 1.50 per cent. Instruments due 15 December 2023
(the "Instruments")
(to be consolidated and form a single series with
the GBP 250,000,000 1.50 per cent. Instruments due
15 December 2023 issued on 2 October 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 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 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
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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
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:
5469
(ii)
Tranche Number:
2
(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 exchange of the Temporary Global
Instrument for interests in the Permanent
Global Instrument, as described in these Final
Terms
2.
Specified Currency:
British Pounds Sterling ("GBP")
3.
Aggregate Principal Amount:

(i)
Series:
GBP 350,000,000
(ii)
Tranche:
GBP 100,000,000
4.
Issue Price:
100.909 per cent. of the Aggregate Principal
Amount plus 89 days' accrued interest for the
period from, and including, the Interest
Commencement Date to, but excluding, the
Issue Date (amounting to GBP 365,753.42)
5.
(i)
Specified Denominations:
GBP 100,000 and integral multiples of GBP
1,000 in excess thereof up to GBP 199,000.
No Instruments in definitive form will be
issued with a denomination above GBP
199,000
(ii)
Calculation Amount:
GBP 1,000
6.
(i)
Issue Date:
14 March 2019
(ii)
Interest Commencement
15 December 2018
Date:
7.
Maturity Date:
15 December 2023
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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):
15 December in each year from and including
15 December 2019 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:
GBP 15.00 per Calculation Amount, payable
on each Interest Payment Date
(v)
Broken Amount(s):
Not Applicable
(vi)
Day Count Fraction:
Actual/Actual (ICMA)
(vii)
Determination Dates:
15 December in each year
15.
Floating Rate Instrument
Not Applicable
Provisions
16.
Fixed Interest Discounted Issue
Not Applicable
Instrument Provisions
17.
Zero Coupon Instrument
Not Applicable
Provisions
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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 GBP 1,000 per Calculation Amount
each Instrument
27.
Early Redemption Amount

(i)
Early Redemption
GBP 1,000 per Calculation Amount
Amount(s) per Calculation
Amount payable on
redemption 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:
28.
Index Linked Redemption
Not Applicable
Instruments
29.
Share Linked Redemption
Not Applicable
Instruments
30.
FX Linked Redemption
Not Applicable
Instruments
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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:
Yes
37.
New Safekeeping Structure:
Not Applicable
38.
Applicable Financial Centre(s) or
London
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 Instruments to be issued are expected to be rated:
S&P Global Ratings Europe Limited: AAA
Moody's Investors Service Ltd: 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
S&P Global Ratings 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
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
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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 requirements
(ii)
Estimated net proceeds:
GBP 101,274,753.42 (including accrued
interest amounting to GBP 365,753.42)
(iii)
Estimated total expenses:
Not Applicable
5.
YIELD
Indication of yield:
1.301 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 XS1963225401.
After that, the Instruments will have the same
ISIN as the Original Instruments, which is
XS1888278295
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
196322540. After that, the Instruments will
have the same Common Code as the Original
Instruments, which is 188827829
CUSIP Number:
Not Applicable
Intended to be held in a manner
Yes. Note that the designation "yes" simply
which would allow Eurosystem
means that the Instruments are intended upon
eligibility:
issue to be deposited with one of the ICSDs as
common safekeeper and does not necessarily
mean that the Instruments will be recognised
as eligible collateral for Eurosystem monetary
policy and intra day credit operations by the
Eurosystem either upon issue or at any or all
times during their life. Such recognition will
depend upon the European Central Bank being
satisfied that Eurosystem eligibility criteria
have been met
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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:
Syndicated
(ii)
If syndicated, names of
Joint Lead Managers:
Managers:
NatWest Markets Plc
RBC Europe Limited
(iii)
Date of Subscription
12 March 2019
Agreement:
(iv)
If non-syndicated, name and Not Applicable
address of Manager:
(v)
Stabilising Manager(s) (if
Not Applicable
any):
(vi)
Total (underwriting and
Not Applicable
placing) commission and
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:
8.
TERMS AND CONDITIONS OF THE OFFER
Not Applicable


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Document Outline