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Arab National Bank Announces the Start of Issuing U.S. dollar denominated Tier 2 capital sukuk.

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Element List Explanation
Introduction With reference to the announcement from Arab National Bank (the “Bank”) published on the website of the Saudi Stock Exchange (Tadawul) on 21 Safar 1442H (corresponding to 19/10/2020G), relating to the intention of the Bank to issue U.S. dollar denominated Tier 2 capital sukuk (the “Sukuk”) by way of an offer to eligible investors in the Kingdom of Saudi Arabia and internationally, the Bank would like to announce the commencement of the offer of the Sukuk.
Issuance Type U.S. dollar denominated Tier 2 capital sukuk.
Issuance Amount It is subject to market conditions.
Issuing Start Date 2020-10-21 Corresponding to 1442-03-04
Issuing End Date 2020-10-22 Corresponding to 1442-03-05
Issuance Target Group Institutional investors (qualified investors in the jurisdiction in which the offering will be made in accordance with the rules and regulations of such jurisdictions).
Underwriter The Bank has mandated HSBC Bank plc and J.P. Morgan Securities plc as Joint Lead Managers & Bookrunners and, together with Arab National Investment Company, as Joint Lead Manager.
Minimum Subscription USD 200,000 and integral multiples of USD 1,000 in excess thereof.
Listing Price (Sukuk /Bonds) It is subject to market conditions.
Par Value USD 200,000
Return (Sukuk /Bonds) It is subject to market conditions.
Maturity (Sukuk /Bonds) 10 years, callable on the fifth anniversary of the issue date.
Terms of Redemption The Sukuk may be redeemed prior to the scheduled maturity date due to:

(1) a Capital Disqualification Event;

(2) tax reasons; or

(3) on the fifth anniversary of the issue date,

subject to the terms and conditions of the Sukuk.

Additional Information The Sukuk will be listed on the Regulated Market of the London Stock Exchange. The Sukuk may be sold in reliance on Regulation S under the US Securities Act of 1933, as amended. The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate. The Issuing End Date referred to above is the expected date of the end of the offering, subject to market conditions.

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