| Element List |
Explanation |
| Offer Type |
SAR denominated Additional Tier 1 Sukuk. |
| Introduction |
With reference to the announcement made by Saudi Awwal Bank (the "Bank") published on the website of the Saudi Exchange on 26/03/1445H (corresponding to 11/10/2023G), relating to the commencement of the Bank’s offer of its SAR denominated Additional Tier 1 Capital Sukuk (the "Sukuk") by way of private placement, the Bank is pleased to announce the completion of the offer of the Sukuk through the floating rate Sukuk tranche only. |
| Offer Type |
SAR denominated Additional Tier 1 Sukuk. |
| Value of the offer |
SAR 4,000,000,000. |
| Total number of (Bonds/Sukuk) |
4,000 Sak. |
| Par Value (Bonds/Sukuk) |
SAR 1,000,000 per Sak. |
| Return (Bonds/Sukuk) |
3 months SAIBOR + 1.25% floating rate payable on a quarterly basis, starting from the settlement date, being 16/04/1445H (corresponding to 31/10/2023G). |
| Maturity (Bonds/Sukuk) |
Perpetual, with certain redemption rights as described in the base prospectus in relation to the Sukuk. |
| Terms of Redemption |
The Sukuk may be redeemed by Saudi Awwal Bank in certain cases as detailed in the base offering circular dated 11/10/2023G prepared in relation to the Sukuk, and the applicable final terms. |
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