Copenhagn, 2016-03-21 09:55 CET (GLOBE NEWSWIRE) --
Announcement relating to the issue of DKK denominated Equity Linked Notes due 12 March 2018, ISIN code DK0030359567, Series A851 (the “Notes”), issued pursuant to the Structured Note Programme.
On February 23, 2016 Occidental Petroleum Corp (”Occidental”) announced a pro rata distribution of its shares held in California resources Corporation (“CRC”). In the transaction Occidental shareholders received 0.094 share of CRC for each Occidental share held. Effective for the distribution was 25 February 2016.
In the Issuer’s opinion, the distribution of shares constitutes an Extraordinary Event pursuant to terms and conditions of the Notes set forth in the Base Prospectus dated 19 December 2014, as supplemented, and the Final Terms dated 20 February 2015.
Upon the occurrence of an Extraordinary Event the Issuer is entitled to make such adjustments in the calculation of the Redemption Amount, Interest Amount and/or compilation of Reference Assets, or to replace the Affected Reference Asset with a Replacement Reference Asset which the Issuer thereby deems necessary in order to achieve a calculation of the Redemption Amount which reflects, and is based on, the manner in which such was previously calculated.
As a result of the Extraordinary Event and for the purposes of the Notes, the Issuer has determined to adjust the Initial Price of Occidental (Bloomberg code: OXY UN Equity) to 78.286527, based on an adjustment factor of 0.999445.
For further information regarding the adjustment of the affected reference asset reference is made to the Base Prospectus.
Questions regarding the Notes may be directed to Peter Kijne, Nordea Markets, telephone 33 33 53 39.
Dated 21 March 2016
NORDEA BANK FINLAND Plc
