Obligation Rabbobank 1.125% ( XS1991126431 ) en EUR

Rabbobank

89.96 % ▲

Pays-bas

XS1991126431 ( en EUR )

1.125% par an ( paiement annuel )

06/05/2031

Prospectus brochure de l'obligation Rabobank XS1991126431 en EUR 1.125%, échéance 06/05/2031

07/05/2026 ( Dans 181 jours )

Rabobank est une banque coopérative d'origine néerlandaise et un acteur mondial majeur du financement de l'agriculture et de l'alimentation.

L'Obligation émise par Rabbobank ( Pays-bas ) , en EUR, avec le code ISIN XS1991126431, paye un coupon de 1.125% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 06/05/2031

FINAL TERMS
COÖPERATIEVE RABOBANK U.A.
(a cooperative (coöperatie) formed under the laws of the Netherlands with its statutory seat in
Amsterdam)
COÖPERATIEVE RABOBANK U.A.
AUSTRALIA BRANCH
(Australian Business Number 70 003 917 655)
(a cooperative (coöperatie) formed under the laws of the Netherlands with its statutory seat in
Amsterdam)
COÖPERATIEVE RABOBANK U.A.
NEW ZEALAND BRANCH
(New Zealand Business Number 9429038354397)
(a cooperative (coöperatie) formed under the laws of the Netherlands with its statutory seat in
Amsterdam)
EUR 160,000,000,000
Global Medium-Term Note Programme
Due from seven days to perpetuity
SERIES NO: 3208A
TRANCHE NO: 1
EUR 1,000,000,000 1.125 per cent. Non-Preferred Senior Notes 2019 due 7 May 2031 (the
"Notes")
Issue Price: 98.681 per cent.
Coöperatieve Rabobank U.A.
Crédit Agricole Corporate and Investment
Bank
Credit Suisse Securities (Europe) Limited
Goldman Sachs International
Morgan Stanley & Co. International plc

The date of these Final Terms is 3 May 2019
MiFID II product governance / Professional investors and ECPs only target market Solely
for the purposes of each 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 Directive 2014/65/EU (as amended,
"MiFID II"); and (ii) all channels for distribution to eligible counterparties and professional clients are
appropriate. Any person subsequently offering, selling or recommending the Notes (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
Notes (by either adopting or refining the manufacturers' target market assessment) and determining
appropriate distribution channels, subject to the distributor's suitability and appropriateness
obligations under MiFID II, as applicable.

A38810106
1

PART A CONTRACTUAL TERMS
Terms used herein shall be deemed to be defined as such for the purposes of the terms and
conditions (the "Conditions") set forth in the Base Prospectus dated 11 May 2018 and the
Supplemental Prospectus dated 16 August 2018, 24 October 2018 and 14 February 2019 (together,
the "Base Prospectus") which together constitute a base prospectus for the purposes of Directive
2003/71/EC (and amendments thereto, including Directive 2010/73/EU) (the "Prospectus
Directive"). This document constitutes the Final Terms of the Notes described herein for the
purposes of Article 5.4 of the Prospectus Directive and must be read in conjunction with the Base
Prospectus. Full information on the Issuer and the offer of the Notes 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, and copies may be obtained from, Rabobank at Croeselaan 18, 3521 CB Utrecht, the
Netherlands and the principal office of the Paying Agent in Luxembourg, Amsterdam and
www.bourse.lu.
Each potential investor in the Notes must determine the suitability of that investment in light
of its own circumstances. A potential investor should not invest in Notes which are complex
financial instruments unless it has the expertise (either alone or with a financial adviser) to
evaluate how the Notes will perform under changing conditions, the resulting effects on the
value of the Notes and the impact this investment will have on the potential investor's overall
investment portfolio.

1
Issuer:
Coöperatieve Rabobank U.A.
2
(i)
Series Number:
3208A

(ii)
Tranche Number:
1

(iii)
Date on which the Notes become
Not Applicable
fungible:
3
Specified Currency or Currencies:
Euro ("EUR")
4
Aggregate nominal amount:

(i)
Series:
EUR 1,000,000,000

(ii)
Tranche:
EUR 1,000,000,000
5
Issue Price:
98.681 per cent. of the aggregate nominal
amount
6
(i)
Specified Denominations:
EUR 100,000

(ii)
Calculation Amount:
EUR 100,000
7
(i)
Issue Date:
7 May 2019

(ii)
Interest Commencement Date:
As specified in Condition 1
8
Maturity Date:
7 May 2031
9
Interest Basis:
1.125 per cent. Fixed Rate
10
Change of Interest Basis:
Not Applicable
11
Redemption/Payment Basis:
Subject to any purchase and cancellation
or early redemption, the Notes will be

A38810106
2

redeemed on the Maturity Date at 100.00
per cent. of their nominal amount
12
Alternative Currency Equivalent:
Not Applicable
13
Put/Call Options/Automatic Early
Not Applicable
Redemption:
14
(i)
Status of the Notes:
Non-Preferred Senior the Terms and
Conditions of the Non-Preferred Senior
Notes shall apply

(ii)
Domestic Note (if Domestic Note,
Not Applicable
there will be no gross-up for
withholding tax):

(iii)
Date of approval for issuance of
Not Applicable
Notes obtained:

PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
15
Fixed Rate Note Provisions
Applicable

(i)
Rate of Interest:
1.125 per cent. per annum payable
annually in arrear

(ii)
Interest Payment Date(s):
7 May in each year, commencing on 7
May 2020 up to and including the Maturity
Date

(iii)
Fixed Coupon Amount:
EUR 1,125.00 per Calculation Amount

(iv)
Broken Amount(s):
Not Applicable

(v)
Day Count Fraction (Condition
Actual/Actual-ICMA
1(a)):

(vi)
Determination Date(s) (Condition
7 May in each year
1(a)):
16
Fixed Rate Reset Note Provisions
Not Applicable
17
Floating Rate Note Provisions
Not Applicable
18
Inverse Floating Rate Note Provisions
Not Applicable
19
Range Accrual Note Provisions
Not Applicable
20
Zero Coupon Note Provisions
Not Applicable
21
CMS Linked Note Provisions
Not Applicable
22
Variable Rate Note Provisions
Not Applicable

PROVISIONS RELATING TO REDEMPTION
23
Call Option
Not Applicable
24
Put Option
Not Applicable
25
Automatic Early Redemption
Not Applicable
26
Regulatory Call
Not Applicable
A38810106
3

27
MREL Disqualification Event Call
Applicable
28
Early Redemption Amount

Early Redemption Amount(s) payable per
EUR 100,000 per Calculation Amount
Calculation Amount on redemption:
Non-Preferred Senior Notes:
(a) on the occurrence of an event of default
(Condition 10); or (b) for taxation reasons
(Condition 6(d)); or (c) for a MREL
Disqualification Event (Condition 6(e) of the
Terms and Conditions of the Non-Preferred
Senior Notes):
29
Final Redemption Amount of each Note
EUR 100,000 per Calculation Amount
30
Substitution and Variation
Applicable
31
Alignment Event
Applicable
32
Amending Act Exchange Event
Applicable

GENERAL PROVISIONS APPLICABLE TO THE NOTES
33
Form of Notes
Bearer Notes

Temporary Global Note exchangeable for
a permanent Global Note not earlier than
40 days after the completion of the
distribution of the Tranche of which such
Note is a part nor later than 40 days prior
to the first anniversary of the Issue Date
(i.e. 27 March 2020) which is
exchangeable for Definitive Notes at any
time/in the limited circumstances specified
in the permanent Global Note
34
New Global Notes:
Yes
35
Financial Centre(s) (Condition7(i)):
Condition7(i)(i)(A) applies
36
Prohibition of Sales to EEA Retail Investors: Not Applicable

LISTING AND ADMISSION TO TRADING APPLICATION
These Final Terms comprise the final terms required to list and have admitted to trading the issue of
Notes described herein pursuant to the EUR 160,000,000,000 Global Medium-Term Note
Programme of Rabobank.

A38810106
4

Signed on behalf of the Issuer
By: Ger Buls

Duly authorised
A38810106
5

PART B OTHER INFORMATION
1
Listing

(i)
Listing:
Luxembourg Stock Exchange

(ii)
Admission to trading:
Application has been made for the Notes
to be admitted to trading on Luxembourg
Stock Exchange with effect from at the
earliest, the Issue Date

(iii)
Estimate of total expenses related
EUR 7,800
to admission to trading:

(iv)
In the case of Notes listed on
Not Applicable
Euronext Amsterdam:
2
Ratings

Rating:

The Notes to be issued are
expected to be rated:

Fitch: AA-
As defined by Fitch, an AA rating means
that the Notes are judged to be of a very
high credit quality and denotes
expectations of very low default risk. It
indicates very strong capacity for payment
of financial commitments and is not
significantly vulnerable to foreseeable
events. The modifier "-" is appended to
denote relative status within the rating
category.

Moody's: A3
As defined by Moody's, obligations rated
A3 are judged to be upper-medium grade
and are subject to low credit risk. The
modifier 3 indicates that the obligation
ranks in the lower-range of its generic
rating category.

S&P: A-
As defined by S&P, Notes rated `A' are
somewhat more susceptible to the adverse
effects of changes in circumstances and
economic conditions than notes in higher-
rated categories. The `A' rating is modified
by the addition of a minus (-) sign to show
relative standing within the `A' rating
category.
A38810106
6

Each of Fitch, Moody's and S&P is
established in the EU and registered under
Regulation (EC) No 1060/2009.
3
Interests of natural and legal persons involved in the offer

Save for any fees payable to the Managers, so far as the Issuer is aware, no person
involved in the offer of the Notes has an interest material to the offer. The Managers and
their 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 its affiliates in the ordinary course of business.
4
Reasons for the offer:
See "Use of Proceeds" wording in Base
Prospectus
5
Yield (Fixed Rate Notes and Fixed Rate
Reset Notes only)

Indication of yield:
1.244 per cent.
The yield is calculated at the Issue Date on
the basis of the Issue Price. It is NOT an
indication of future yield.
6
Operational information

(i)
Intended to be held in a manner
Yes. Note that the designation "yes" simply
which would allow Eurosystem
means that the Notes are intended upon
eligibility:
issue to be deposited with one of the
ICSDs as common safekeeper and does
not necessarily mean that the Notes 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 ECB being satisfied that
Eurosystem eligibility criteria have been
met.

(ii)
ISIN:
XS1991126431

(iii)
Common Code:
199112643

(iv)
German WKN-code:
Not Applicable

(v)
Private Placement number:
Not Applicable

(vi)
CUSIP Number:
Not Applicable

(vii)
Any clearing system(s) other than
Not Applicable
Euroclear and Clearstream,
Luxembourg and the relevant
number(s):

(viii)
Delivery:
Delivery against payment
A38810106
7

(ix)
Names and addresses of
Not Applicable
additional Paying/Delivery
Agent(s) (if any):

(x)
Names (and addresses) of
Deutsche Bank AG, London Branch,
Calculation Agent(s):
Winchester House, 1 Great Winchester
Street, London EC2N 2DB, United
Kingdom
7
Distribution

(i)
Method of distribution:
Syndicated

(ii)
If syndicated, names of Managers: Coöperatieve Rabobank U.A.
Thames Court
One Queenhithe
London EC4V 3RL
United Kingdom

Credit Agricole Corporate and Investment
Bank
12, Place des Etats-Unis
CS 70052
92 547 Montrouge Cedex
France

Credit Suisse Securities (Europe) Limited
One Cabot Square
London E14 4QJ
United Kingdom

Goldman Sachs International
133 Fleet Street
London EC4A 2BB
United Kingdom

Morgan Stanley & Co. International plc
25 Cabot Square
Canary Wharf
London
E14 4QA
United Kingdom

(iii)
Stabilising Manager(s) (if any):
Credit Suisse Securities (Europe) Limited

(iv)
If non-syndicated, name of Dealer: Not Applicable

(v)
Applicable TEFRA exemption:
TEFRA D
A38810106
8

(vi)
Prohibition of Sales to Belgian
Applicable
Consumers:

A38810106
9