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EI Sukuk Company Ltd (Emirates Islamic Bank) USD500 Million 1.827% 23-Sep-2025 - Final Terms

IM Insights
By IM Insights
1 month ago
EI Sukuk Company Ltd (Emirates Islamic Bank) USD500 Million 1.827% 23-Sep-2025 - Final Terms

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  1. 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 Certificates has led to the conclusion that: (i) the target market for the Certificates 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 Certificates to eligible counterparties and professional clients are appropriate. Any person subsequently offering, selling or recommending the Certificates (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 Certificates (by either adopting or refining the manufacturers' target market assessment) and determining appropriate distribution channels. Singapore Securities and Futures Act Product Classification – Solely for the purposes of its obligations pursuant to sections 309B(1)(a) and 309B(1)(c) of the Securities and Futures Act (Chapter 289 of Singapore) (the SFA), the Trustee has determined, and hereby notifies all relevant persons (as defined in Section 309A of the SFA) that the Certificates are "prescribed capital markets products" (as defined in the Securities and Futures (Capital Markets Products) Regulations 2018). Final Terms dated 21 September 2020 EI SUKUK COMPANY LTD. Legal entity identifier (LEI): 549300IIDFP0RTSSG071 Issue of U.S.$500,000,000 Certificates due September 2025 under the U.S.$2,500,000,000 Certificate Issuance Programme PART A – CONTRACTUAL TERMS Terms used herein shall be deemed to be defined as such for the purposes of the terms and conditions (the "Conditions") set forth in the base prospectus dated 29 July 2020 which constitutes a base prospectus for the purposes of Regulation (EU) 2017/1129 (the "Prospectus Regulation") (the "Base Prospectus"). This document constitutes the Final Terms of the Certificates described herein for the purposes of the Prospectus Regulation and must be read in conjunction with the Base Prospectus. Full information on the Trustee and the offer of the Certificates is only available on the basis of the combination of these Final Terms and the Base Prospectus. The Base Prospectus is available for viewing: (i) on the website of Euronext Dublin at http://www.ise.ie; (ii) on the website of Nasdaq Dubai at http://www.nasdaqdubai.com; and (iii) during normal business hours at the registered office of the Trustee at P.O. Box 6564, Dubai, United Arab Emirates and the specified office of the Principal Paying Agent at Winchester House, 1 Great Winchester Street, London EC2N 2DB. 1. Trustee: EI Sukuk Company Ltd. 2. Series Number: 2020-1 3. Specified Currency: US Dollars ("U.S.$") -1-
  2. 4 . Aggregate Face Amount: U.S.$500,000,000 5. Issue Price: 100.0 per cent. of the Aggregate Face Amount 6. (a) Specified Denominations: U.S.$200,000 and integral multiples of U.S.$1,000 in excess thereof (b) Calculation Amount: U.S.$1,000 (a) Issue Date: 23 September 2020 (b) Return Accumulation Issue Date Commencement Date: 7. 8. Maturity Date: 23 September 2025 9. Periodic Distribution Amount 1.827 per cent. Fixed Periodic Distribution Basis: Amount 10. Dissolution Basis: 11. Change of Periodic Distribution Not Applicable Basis: 12. Call/Put Options: Not Applicable 13. Status: Senior 14. Date of Board approval for 26 January 2020 (in respect of the Obligor) issuance of Certificates and 18 September 2020 (in respect of the obtained: Trustee) Subject to any purchase and cancellation or early redemption, the Certificates will be redeemed on the Maturity Date at 100 per cent. of their nominal amount PROVISIONS RELATING TO PERIODIC DISTRIBUTIONS (IF ANY) PAYABLE 15. Fixed Periodic Provisions Distribution Applicable (a) Rate(s): 1.827 per cent. per annum payable semiannually in arrear on each Periodic Distribution Date (b) Periodic Date(s): Distribution 23 March and 23 September in each year up to and including the Maturity Date commencing on 23 March 2021 (c) Fixed Amount(s): U.S.$9.135 per Calculation Amount -2-
  3. 16 . (d) Broken Amount(s): Not Applicable (e) Day Count Fraction: 30/360 (f) Determination Date(s): Not Applicable (g) Business Convention: (h) Periodic Distribution Not Applicable Date Adjustment: (i) Business Centre(s): Day Not Applicable Not Applicable Floating Periodic Distribution Not Applicable Provisions: PROVISIONS RELATING TO DISSOLUTION 17. Optional Option: 18. Final Dissolution Amount: 19. Dissolution (Call) Not Applicable U.S.$1,000 per Calculation Amount (a) Early Dissolution Final Dissolution Amount Amount (Tax) (following early dissolution for tax reasons): (b) Notice Period: Minimum Notice Period: 30 days Maximum Notice Period: 60 days Dissolution Amount pursuant to U.S.$1,000 per Calculation Amount Condition 15 (Dissolution Events): PROVISIONS RELATING TO OPTIONAL REDEMPTION 20. Optional Redemption (Investor Not Applicable Put) Option: GENERAL PROVISIONS APPLICABLE TO THE TRUST CERTIFICATES 21. Form of Certificates: Global Certificates exchangeable for Certificates in definitive registered form in the limited circumstances specified in the Global Certificate 22. Additional Financial Centre(s) London or other special provisions -3-
  4. relating to Payment Dates : 23. Renminbi Currency Event: Not Applicable 24. Details of Transaction Account: EI Sukuk Company Ltd. USD Transaction Account No: 0012911248 for Series No. 2020-1 -4-
  5. SIGNED on behalf of EI Sukuk Company Ltd . By: Duly authorised SIGNED on behalf of Emirates Islamic Bank PJSC By Duly authorised By: Duly authorised -5-
  6. SIGNED on behalf of EI Sukuk Company Ltd . By: ......................................... Duly authorised 14� -=..:::..��� By: .................................. -.... L A' %f.... ....-.-; ... By: ........................... Duly authorised r-- -::--::-:-:---- i;;-;:'7:'" Wasi m Saifi Deputy CEO CWM Consu mer Banking & We Management alth -5-
  7. PART B – OTHER INFORMATION 1. 2. ADMISSION TO TRADING (a) Admission to trading: (b) Estimate of total EUR 2,780 expenses related to admission to trading: RATINGS Application has been made by the Trustee (or on its behalf) for the Certificates to be admitted to trading on the Regulated Market of Euronext Dublin and Nasdaq Dubai and, listing on the Official List of Euronext Dublin and the DFSA Official List with effect from 23 September 2020 The Certificates to be issued are expected to be rated: Fitch: A+ Fitch is established in the EEA or the United Kingdom and registered under Regulation (EU) No 1060/2009, as amended (the "CRA Regulation"). 3. INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE Save for any fees payable to the Joint Lead Managers, so far as each of the Trustee and the Obligor are aware, no person involved in the issue of the Certificates 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 Trustee and, the Obligor and each of their respective affiliates in the ordinary course of business for which they may receive fees. 4. YIELD (Fixed Rate Periodic 1.827 per cent. per annum Distribution Certificates only) 5. USE OF PROCEEDS 6. (a) Use of proceeds: See "Use of Proceeds" in the Base Prospectus (b) Estimated amount of net U.S.$500,000,000 proceeds: OPERATIONAL INFORMATION (a) ISIN Code: XS2230859469 -6-
  8. (b) Common Code: 223085946 (c) Additional identification As set out on the website of the Association code: of Numbering Agencies (ANNA) or alternatively sourced from the responsible National Numbering Agency that assigned the ISIN As set out on the website of the Association of Numbering Agencies (ANNA) or alternatively sourced from the responsible National Numbering Agency that assigned the ISIN 7. (d) Any clearing system(s) Not Applicable other than Euroclear Bank S.A./N.V. and Clearstream Banking, SA and the relevant identification number(s); (e) Delivery: (f) Names and addresses of Not Applicable additional Paying Agent(s) (if any): (g) Benchmark Administrator: Delivery against payment Not Applicable THIRD PARTY INFORMATION Not Applicable 8. DISTRIBUTION (a) Method of distribution: Syndicated (b) Date of Subscription 21 September 2020 Agreement: (c) Stabilisation Manager(s) Standard Chartered Bank (if any): (d) If non-syndicated, name Not Applicable of relevant Dealer: -7-