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The National Commercial Bank announces the commencement of its offer of Additional Tier 1 Sukuk

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Introduction Reference to the announcement from The National Commercial Bank (the “Bank”) published on the website of the Saudi Stock Exchange (Tadawul) on Monday 1441/10/09 (corresponding to 01/06/2020G) relating to issuance of Additional Tier 1 Sukuk by way of private placement offer and subject to market conditions. The Bank would like to announce the commencement of the issuance of the Sukuk.
Issuance Type Additional Tier 1 Sukuk denominated in Saudi Arabian Riyals.
Issuance Amount The number and value of any Sukuk to be offered will be determined based on market conditions.
Issuing Start Date 2020-06-04 Corresponding to 1441-10-12
Issuing End Date 2020-12-31 Corresponding to 1442-05-16
Issuance Target Group Sophisticated investors as such term is defined in Article (9) of the Rules on the Offer of Securities and Continuing Obligations.
Underwriter The Bank has mandated NCB Capital as Sole Bookrunner, Lead Arranger and Lead Manager for the private placement offer.
Minimum Subscription SAR 10,000,000
Listing Price (Sukuk /Bonds) Subject to market conditions.
Par Value SAR 1,000,000
Return (Sukuk /Bonds) It is subject to market conditions.
Maturity (Sukuk /Bonds) Perpetual
Terms of Redemption The Sukuk may be redeemed early due to a capital event, tax event or at the option of the Bank as described in the terms and conditions of the Sukuk.
Additional Information This announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities and is subject to the terms and conditions of the Sukuk. The Bank will announce any other relevant material developments to its shareholders in due course.

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.

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