Obligation OP Yrityskassi Oyj 0% ( XS2182066543 ) en SEK

OP Yrityskassi Oyj

100 % ⇌

Finlande

XS2182066543 ( en SEK )

30/06/2030

Prospectus brochure de l'obligation OP Yrityspankki Oyj XS2182066543 en SEK 0%, échéance 30/06/2030

2 000 000 SEK

3 250 000 000 SEK

OP Yrityspankki Oyj est une banque finlandaise offrant des services financiers aux entreprises, incluant des solutions de financement, de gestion de trésorerie et de marchés de capitaux.

L'Obligation émise par OP Yrityskassi Oyj ( Finlande ) , en SEK, avec le code ISIN XS2182066543, paye un coupon de 0% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 30/06/2030

EXECUTION VERSION
PROHIBITION OF SALES TO EEA AND UK RETAIL INVESTORS  The Instruments
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 ("EEA")
or in the United Kingdom (the "UK"). 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 Directive
2014/65/EU (as amended, "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
Regulation. Consequently, no key information document required by Regulation (EU) No
1286/2014 (as amended, the "PRIIPs Regulation") for offering or selling the Instruments or
otherwise making them available to retail investors in the EEA or in the UK has been prepared
and therefore offering or selling the Instruments or otherwise making them available to any
retail investor in the EEA or in the UK may be unlawful under the PRIIPs Regulation.
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 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 1 June 2020
OP Corporate Bank plc
(Incorporated in Finland with limited liability)
(the "Bank" or the "Issuer")
Legal Entity Identifier: 549300NQ588N7RWKBP98
Issue of SEK 3,250,000,000 Callable Floating Rate Tier 2 Instruments due June 2030
under the EUR 20,000,000,000 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 set
forth in the base prospectus dated 13 February 2020 and the supplemental base prospectuses
dated 28 February 2020 and 30 April 2020, which together constitute a base prospectus (the
"Base Prospectus") for the purposes of Regulation (EU) 2017/1129 (the "Prospectus
Regulation"). This document constitutes the Final Terms of the Instruments described herein
for the purposes of the Prospectus Regulation and must be read in conjunction with such Base
Prospectus as so supplemented in order to obtain all the relevant information. Full information
on the Bank and the offer of the Instruments is only available on the basis of the combination
of these Final Terms and the Base Prospectus as so supplemented.
The Base Prospectus and the supplemental base prospectuses have been published on the
websites of OP Corporate Bank plc (www.op.fi/op-financial-group/debt-investors/Banks/op-
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corporate-bank-plc/emtn-base-prospectuses) and the Irish Stock Exchange plc trading as
Euronext Dublin ("Euronext Dublin") (www.ise.ie).
1.
Issuer:
OP Corporate Bank plc
2.
(i)
Series Number:
248

(ii)
Tranche Number:
1

(iii)
Date on which the
Not Applicable
Instruments become
fungible:
3.
Specified Currency or Currencies:
Swedish Krona ("SEK")
4.
Aggregate Nominal Amount of

Instruments:

(i)
Series:
SEK 3,250,000,000

(ii)
Tranche:
SEK 3,250,000,000
5.
Issue Price:
100.00 per cent. of the Aggregate Nominal
Amount
6.
(i)
Specified Denominations:
SEK 2,000,000 and integral multiples of SEK
1,000,000 in excess thereof

(ii)
Calculation Amount:
SEK 1,000,000
7.
(i)
Issue Date:
3 June 2020

(ii)
Interest Commencement
Issue Date
Date:
8.
Maturity Date:
Interest Payment Date falling in or nearest to
June 2030
9.
Interest Basis:
3 month STIBOR + 2.3 per cent. Floating Rate

Condition 5B. (Interest Floating Rate) (see
paragraph 18 below)
10. Redemption/Payment Basis:
Redemption at par
11. Change of Interest or Redemption/
Not Applicable
Payment Basis:
12. Put/Call Options:
Issuer Call
13. Status of the Instruments:
Tier 2 Instruments
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14. Date Board approval for issuance
13 December 2019
of Instruments obtained:
15. Method of distribution:
Syndicated
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
16. Fixed Rate Instrument Provisions Not Applicable
17. Resettable Instrument Provisions Not Applicable
18. Floating Rate Instrument
Applicable
Provisions

(i)
Interest Period(s):
Quarterly
(ii)
Specified Interest Payment 3 March, 3 June, 3 September, 3 December, each
Dates:
year from and including the First Interest
Payment Date, up to and including the Maturity
Date, subject in each case to adjustment in
accordance with the Business Day Convention
(iii)
First Interest Payment Date: 3 September 2020
(iv)
Business Day Convention:
Modified Following Business Day Convention
(v)
Business Centre(s):
TARGET2, in addition to Stockholm
(vi)
Manner in which the Rate(s) Screen Rate Determination
of Interest is/are to be
determined:
(vii)
Party
responsible
for Not Applicable
calculating the Rate(s) of
Interest
and/or
Interest
Amount(s) (if not the Fiscal
Agent):

(viii) Screen Rate Determination:

·
Reference Rate:
3 month STIBOR (or any successor or
replacement rate)

·
Relevant Time:
11:00 a.m. Stockholm time

·
Interest
The second Stockholm Business Day prior to the
Determination
first day of each Interest Period
Date(s):

·
Relevant Screen
Reuters Screen SIDE page (or any successor or
Page:
replacement)
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·
Observation Look-
Not Applicable
back Period:

(ix)
Swap-related (ISDA):
Not Applicable

(x)
ISDA Benchmarks
Not Applicable
Supplement:

(xi)
Linear Interpolation:
Not Applicable

(xii)
Margin(s):
+2.3 per cent. per annum

(xiii) Minimum Rate of Interest:
0 per cent. per annum

(xiv) Maximum Rate of Interest:
Not Applicable

(xv)
Day Count Fraction:
Actual/360
19. Zero Coupon Instrument
Not Applicable
Provisions
PROVISIONS RELATING TO REDEMPTION
20. Call Option
Applicable

(i)
Optional
Redemption 3 June 2025 and any Interest Payment Date
Date(s):
thereafter

Condition 6.03 (Optional Early Redemption
(Call)) is applicable

(ii)
Optional
Redemption SEK 1,000,000 per Calculation Amount
Amount(s):

(iii)
Redemption in part:
Not Applicable

(iv)
Notice period:
As set out in Condition 6.04 in respect of the
relevant Optional Redemption Date

(v)
Early redemption following Applicable
a Capital Event:

(vi)
Early redemption following Not Applicable
an MREL Disqualification
Event:
21. Put Option
Not Applicable
22. Final Redemption Amount
SEK 1,000,000 per Calculation Amount
23. Early Redemption Amount

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Early Redemption Amount(s) per
SEK 1,000,000 per Calculation Amount
Calculation Amount payable on
redemption for taxation reasons or
on event of default or other early
redemption:
GENERAL PROVISIONS APPLICABLE TO THE INSTRUMENTS
24. Form of Instruments:
Bearer Instruments:
Temporary Global Instrument exchangeable for
a Permanent Global Instrument which is
exchangeable for Definitive Instruments in the
limited
circumstances
specified
in
the
Permanent Global Instrument
25. New Global Instrument
No
26. Financial Centre(s) or other special
TARGET2, in addition to Stockholm
provisions relating to payment
dates:
27. Talons for future Coupons or
Yes
Receipts to be attached to
Definitive Instruments (and dates
on which such Talons mature):
28. Redenomination, renominalisation
Not Applicable
and reconventioning provisions
(Condition 16):
29. Substitution or variation (Condition
9):

Substitution or variation following
Applicable
a Capital Event:

Substitution or variation following
Not Applicable
an MREL Disqualification Event:
30. Prohibition of Sales to EEA and
Applicable
UK Retail Investors:
31. Green Bond:
No

Signed on behalf of the Bank:
By: .................................
By:.................................
Duly authorised
Duly authorised
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Part B Other Information
1.
LISTING AND ADMISSION TO TRADING

Admission to trading:
Application has been made to Euronext Dublin
for the Instruments to be admitted to the
Official List and to trading on the Regulated
Market of Euronext Dublin with effect from the
Issue Date

Estimate of total expenses related to EUR 1,000
admission to trading:
2.
RATINGS

The Instruments to be issued are expected to be rated:

S&P Global Ratings Europe Limited: A-

Moody's Investors Service (Nordics) AB: Baa1
3.
REASONS FOR THE OFFER AND ESTIMATED NET AMOUNT OF
PROCEEDS

Reasons for the Offer:
The proceeds of the issue of the Instruments
will be used by the Bank for general corporate
purposes.

Estimated net proceeds:
SEK 3,238,625,000
4.
INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE
ISSUE/OFFER

Save as discussed in "Subscription and Sale" in the Base Prospectus, so far as the Bank
is aware, no person involved in the offer of the Instruments has an interest material to
the offer.
5.
OPERATIONAL INFORMATION

ISIN:
XS2182066543

Common Code:
218206654

FISN:
OP CORPORATE BA/1EMTN 20300603, as
updated, as set out on the website of the
Association of National Numbering Agencies
(ANNA) or alternatively sourced from the
responsible National Numbering Agency that
assigned the ISIN

CFI code:
DTFXFB, as updated, as set out on the website
of the Association of National Numbering
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Agencies (ANNA) or alternatively sourced
from the responsible National Numbering
Agency that assigned the ISIN

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):

New Global Instrument intended to No. Whilst the designation is specified as "no"
be held in a manner which would
at the date of these Final Terms, should the
allow Eurosystem 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 ECB
being satisfied that Eurosystem eligibility
criteria have been met.
7.
DISTRIBUTION

(i)
If syndicated, names of
Joint Lead Managers:
Managers:
J.P. Morgan Securities plc
OP Corporate Bank plc
Swedbank AB (publ)

(ii)
Stabilising Manager(s) (if
Not Applicable
any):

(iii)
Date of Subscription
1 June 2020
Agreement:

If non-syndicated, name and address Not Applicable
of Dealer:

U.S. Selling Restrictions:
Reg. S Compliance Category 2; TEFRA D

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