Obligation Jydsk Bank 1.25% ( XS2109391214 ) en EUR

Jydsk Bank

99.91 % ▲

Danemark

XS2109391214 ( en EUR )

1.25% par an ( paiement annuel )

27/01/2031

Prospectus brochure de l'obligation Jyske Bank XS2109391214 en EUR 1.25%, échéance 27/01/2031

28/01/2027 ( Dans 334 jours )

L'Obligation émise par Jydsk Bank ( Danemark ) , en EUR, avec le code ISIN XS2109391214, paye un coupon de 1.25% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 27/01/2031

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 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 of the Notes 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.
PROHIBITION OF SALES TO EUROPEAN ECONOMIC AREA RETAIL INVESTORS The Notes
are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise
made available to any retail investor in the European Economic Area. For these purposes, a retail investor means
a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of MiFID II; (ii) a
customer within the meaning of Directive (EU) 2016/97, where that customer would not qualify as a
professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii) not a qualified investor as defined
in the Prospectus Directive (as defined below). Consequently no key information document required by
Regulation (EU) No. 1286/2014 (as amended) (the "PRIIPs Regulation") for offering or selling the Notes or
otherwise making them available to retail investors in the European Economic Area has been prepared and
therefore offering or selling the Notes or otherwise making them available to any retail investor in the European
Economic Area may be unlawful under the PRIIPs Regulation.
Amounts of interest payable under the Notes following the Reset Date will be calculated by reference to the
euro mid-swap rate, which is provided by ICE Benchmark Administration Limited. Further, the Euro-zone inter-
bank offered rate, which is provided by the European Money Markets Institute, forms a component part of such
mid-swap rate and of the interest rate fall-back provisions set out in the Conditions set forth in the Prospectus
(as defined below). As at the date of these Final Terms, each of ICE Benchmark Administration Limited and
European Money Markets Institute appears 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.
Final Terms dated 27 January 2020
Jyske Bank A/S
Legal entity identifier (LEI): 3M5E1GQGKL17HI6CPN30
Issue of
200,000,000 Subordinated Fixed Rate Resettable Tier 2 Notes due 2031
under the U.S.$8,000,000,000
Euro Medium Term Note Programme
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
Prospectus dated 11 June 2019 and the supplemental Prospectuses dated 6 September 2019 and 4 December
2019 (together, the "Prospectus") which together constitute a base prospectus for the purposes of the Directive
2003/71/EC (as amended or superseded) (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

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in conjunction with the 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 Prospectus. The Prospectus is available for viewing on
the website of the Central Bank of Ireland at https://www.centralbank.ie/regulation/industry-market-
sectors/securities-markets/prospectus-regulation/prospectuses for a period of 12 months following the date of
the Prospectus and during normal business hours copies may be obtained from Jyske Bank A/S, Vestergade 8-
16, DK-8600 Silkeborg, Denmark. The Final Terms are available for viewing at the website of the Irish Stock
Exchange plc, trading as Euronext Dublin ("Euronext Dublin"), at www.ise.ie.
1.
Issuer:
Jyske Bank A/S
2.
(i)
Series Number:
197
(ii)
Tranche Number:
1
(iii)
Date on which the Notes become
Not Applicable
fungible
3.
Specified Currency or Currencies:
Euro ("")
4.
Aggregate Nominal Amount:
200,000,000
5.
Issue Price:
99.456 per cent. of the Aggregate Nominal Amount
6.
(i)
Specified Denominations:
100,000 and integral multiples of 1,000 in excess
thereof up to and including 199,000. No Notes in
definitive form will be issued with a denomination
above 199,000.
(ii)
Calculation Amount:
1,000
7.
(i)
Issue Date:
28 January 2020
(ii)
Interest Commencement Date:
Issue Date
8.
Maturity Date:
28 January 2031
9.
Interest Basis:
Fixed Rate Reset

(see paragraph 15 below)
10.
Redemption Basis:
Subject to any purchase and cancellation or early
redemption, the Notes will each be redeemed on the
Maturity Date at 100 per cent. of their nominal
amount
11.
Change of Interest Basis:
Not Applicable
12.
Put/Call Options:
Issuer Call
(see paragraph 18 below)
13.
Status of the Notes:
Subordinated

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PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
14.
Fixed Rate Note Provisions
Not Applicable
15.
Fixed Rate Reset Note Provisions
Applicable
(i)
Initial Rate(s) of Interest:
1.250 per cent. per annum payable annually in arrear
(ii)
Interest Payment Date(s):
28 January in each year from and including 28 January
2021, up to and including the Maturity Date
(iii)
Broken Amount(s):
Not Applicable
(iv)
Day Count Fraction:
Actual/Actual ICMA
(v)
Determination Dates:
28 January in each year
(vi)
Calculation Agent responsible for
Not Applicable
calculating the Rate(s) of Interest
and/or Interest Amount(s) (if not
The Bank of New York Mellon):
(vii)
Reset Date:
28 January 2026
(viii)
Subsequent
Reset
Reference
Mid-Swap Rate
Rate(s):
(ix)
Margin:
1.450 per cent. per annum
(x)
Reset Reference Rate Conversion:
Not Applicable
(xi)
Original Reset Reference Rate
Annual
Payment Basis:
(xii)
Mid-Swap Rate:
Single Mid-Swap Rate

Reference
Rate
Applicable
Replacement:

Mid-Swap Floating Leg
6 months
Maturity:

Initial
Mid-Swap
Rate
Not Applicable
Final Fallback:

Reset
Period
Maturity
Not Applicable
Initial
Mid-Swap
Rate
Final Fallback:

Last Observable Mid-Swap
Applicable
Rate Final Fallback:
(xiii)
Subsequent Reset Rate Screen Page:
Bloomberg page EUSA5

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(xiv)
Subsequent Reset Rate Time:
11:00 a.m. (Brussels time)
(xv)
Reset Determination Date:
The 2nd Business Day prior to the commencement of
the Reset Period
16.
Floating Rate Note Provisions
Not Applicable
17.
Zero Coupon Note Provisions
Not Applicable
PROVISIONS RELATING TO REDEMPTION
18.
Call Option
Applicable
(i)
Optional Redemption Date:
28 January 2026
(ii)
Optional Redemption Amount of
Outstanding Principal Amount
each Note:
(iii)
If redeemable in part:
Not Applicable
(iv)
Notice period:
Minimum period: 15 days
Maximum period: 30 days
19.
Put Option
Not Applicable
20.
Trigger Event Threshold:
Not Applicable
21.
Loss Absorption Minimum Amount:
Not Applicable
22.
MREL/TLAC
Disqualification
Event
Not Applicable
Redemption Option:
23.
Final Redemption Amount of each Note:
Outstanding Principal Amount
24.
Early Redemption Amount:

Early Redemption Amount(s) of each Note
Outstanding Principal Amount
payable on redemption for taxation reasons,
upon the occurrence of a Tax Event, a Capital
Event, a MREL/TLAC Disqualification
Event, an Event of Default or an Enforcement
Event, as the case may be:
GENERAL PROVISIONS APPLICABLE TO THE NOTES
25.
Form of Notes:
Bearer Notes:

Temporary Global Note exchangeable for a Permanent
Global Note which is exchangeable for Definitive
Notes in the limited circumstances specified in the
Permanent Global Note
26.
New Global Note:
No

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PART B OTHER INFORMATION
1
LISTING
(i)
Listing:
Application has been made by the Issuer (or on its behalf)
for the Notes to be listed on the Official List of Euronext
Dublin.
(ii)
Admission to trading:
Application has been made by the Issuer (or on its behalf)
for the Notes to be admitted to trading on the regulated
market of Euronext Dublin with effect from the Issue
Date.
(iii)
Estimated total expenses related
1,000
to admission to trading:

2
RATINGS
Ratings:
The Notes are expected to be rated BBB by S&P Global
Ratings Europe Limited ("S&P").

S&P is established in the European Union and is registered
under Regulation (EC) No. 1060/2009 (as amended).
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INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE
Save for any fees payable to the Joint Lead Managers, so far as the Issuer is aware, no person involved
in the issue of the Notes has an interest material to the offer. The Joint Lead 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
Fixed Rate Notes only YIELD
Indication of yield:
1.345 per cent. per annum

5
OPERATIONAL INFORMATION
ISIN Code:
XS2109391214
Common Code:
210939121
CFI:
See the website of the Association of National Numbering
Agencies (ANNA) or alternatively sourced from the
responsible National Numbering Agency that assigned the
ISIN
FISN:
See the website of the Association of National Numbering
Agencies (ANNA) or alternatively sourced from the
responsible National Numbering Agency that assigned the
ISIN

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Any clearing system(s) other than
Not Applicable
Euroclear Bank SA/NV and Clearstream
Banking
S.A.
and
the
relevant

identification number(s):
Delivery:
Delivery against payment
Names and addresses of additional
Not Applicable
Paying Agent(s) (if any):
Intended to be held in a manner which
No. Whilst the designation is specified as "no" at the date
would allow Eurosystem eligibility:
of these Final Terms, should the Eurosystem eligibility
criteria be amended in the future such that the Notes are
capable of meeting them the Notes may then be deposited
with one of the ICSDs as common safekeeper. Note that
this does not necessarily mean that the Notes 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 ECB being satisfied that Eurosystem eligibility
criteria have been met.
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DISTRIBUTION
(i)
Method of distribution:
Syndicated
(ii)
If syndicated, names of Joint Lead
BNP Paribas
Managers:
Danske Bank A/S
J.P. Morgan Securities plc
(iii)
Date of Subscription Agreement:
27 January 2020
(iv)
Stabilisation Manager(s) (if any):
Not Applicable
(v)
If non-syndicated, name of relevant
Not Applicable
Dealer:
(vi)
U.S. Selling Restrictions:
Reg S Compliance Category 2; TEFRA D
(vii)
Prohibition of Sales to European
Applicable
Economic Area Retail Investors:

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