The following final terms are available for viewing:
Skandinaviska Enskilda Banken AB (publ):
EUR 500,000,000 Floating Rate Step-Up Subordinated Instruments due 2017 issued under the Global Programme for the Continuous Issuance of Debt Instruments
Please find the full document as follows:
SKANDINAVISKA ENSKILDA BANKEN AB (publ)
Issue of EUR500,000,000
Floating Rate Step-Up Subordinated Instruments due 2017
under the Global Programme for the Continuous Issuance of Debt Instruments
PART A - CONTRACTUAL TERMS
Terms used herein shall be deemed to be defined as such for the purposes of the Conditions set forth in the Information Memorandum dated 5 July, 2005 (as supplemented by way of Supplements to the Information Memorandum dated 3 August 2005 and 21 September 2005) which constitutes a base prospectus for the purposes of the Prospectus Directive (Directive 2003/71/EC) (the "Prospectus Directive"). This document constitutes the Final Terms of the Instruments described herein for the purposes of Article 5.4 of the Prospectus Directive and must be read in conjunction with the Information Memorandum (as supplemented). Full information on the Issuer and the offer of the Instruments is only available on the basis of the combination of these Final Terms and the Information Memorandum (as supplemented). Copies of the Information Memorandum (as supplemented) are available for viewing at Skandinaviska Enskilda Banken AB (publ), Kungsträdgårdsgatan 8, SE 106 40 Stockholm, Sweden and copies may be obtained from Citibank, N.A., 5 Carmelite Street, London EC4Y 0PA.
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1. |
Issuer: |
Skandinaviska Enskilda Banken AB (publ) |
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2. |
(i) Series Number: |
233 |
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(ii) Tranche Number: |
1 |
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3. |
Specified Currency or Currencies: |
Euro ("EUR") |
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4. |
Aggregate Nominal Amount: |
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(i) Series: |
EUR500,000,000 |
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(ii) Tranche: |
EUR500,000,000 |
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5. |
Issue Price of Tranche: |
99.935 per cent. of the Aggregate Nominal Amount. |
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6. |
Specified Denominations: |
EUR 50,000 (provided however that for so long as the Instruments are represented by a Global Instrument and the relevant Clearing System(s) so permit, the Instruments shall be tradeable in minimum nominal amounts of EUR 50,000 and integral multiples of EUR 1,000 thereabove) |
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7. |
(i) Issue Date: |
28 September 2005 |
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(ii) Interest Commencement Date: |
28 September 2005 |
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8. |
Maturity Date: |
The Interest Payment Date falling in or nearest to September 2017 |
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9. |
Interest Basis: |
The Instruments are Floating Rate Instruments
(further particulars specified below) |
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10. |
Redemption/Payment Basis: |
Redemption at par |
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11. |
Change of Interest Basis or Redemption/Payment Basis: |
Not Applicable |
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12. |
Put/Call Options: |
Issuer Call
(further particulars specified below) |
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13. |
Status of the Instruments: |
Subordinated |
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14. |
Method of distribution: |
Syndicated |
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PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE | ||
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15. |
Fixed Rate Provisions |
Not Applicable |
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16. |
Floating Rate Provisions |
Applicable |
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(i) Specified Period(s)/Specified Interest Payment Dates: |
Interest will be payable quarterly in arrear on 28 December, 28 March, 28 June and 28 September of each year (each an "Interest Payment Date"), commencing on 28 December 2005 and ending on the Maturity Date, subject to adjustment in accordance with the Modified Following Business Day Convention |
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(ii) Business Day Convention: |
Modified Following Business Day Convention |
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(iii) Additional Business Centre(s): |
Not Applicable |
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(iv) Manner in which the Rate of Interest is to be determined: |
Screen Rate Determination |
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(v) Party responsible for calculating the Rate of Interest: |
Fiscal Agent |
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(vi) ISDA Determination: |
Not Applicable |
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- Floating Rate Option: |
Not Applicable |
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- Designated Maturity: |
Not Applicable |
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- Reset Date: |
Not Applicable |
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(vii) Screen Rate Determination: |
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- Reference Rate: |
3 month EURIBOR |
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- Interest Determination Date(s): |
The second day on which the TARGET System is open prior to the start of each Interest Period |
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- Relevant Screen Page: |
Telerate Page 248 |
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(viii) Margin(s): |
+ 0.25 per cent. per annum for the period from, and including, the Issue Date to, but excluding, the Interest Payment Date falling in or nearest to September 2012 |
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+1.75 per cent. per annum for the period from, and including, the Interest Payment Date falling in or nearest to September 2012 to, but excluding, the Maturity Date |
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(ix) Minimum Rate of Interest: |
Not Applicable |
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(x) Maximum Rate of Interest: |
Not Applicable |
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(xi) Day Count Fraction: |
Actual/360 |
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(xii) Fall back provisions, rounding provisions and any other terms relating to the method of calculating interest on Floating Rate Instruments and Index Linked Interest Instruments, if different from those set out in the Conditions: |
Not Applicable |
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17. |
Zero Coupon Note Provisions |
Not Applicable |
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18. |
Index Linked Interest Note Provisions |
Not Applicable |
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19. |
Dual Currency Interest Note Provisions |
Not Applicable |
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PROVISIONS RELATING TO REDEMPTION | ||
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20. |
Issuer Call |
Applicable |
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(i) Optional Redemption Date(s): |
On the Interest Payment Date falling in or nearest to September 2012 or any subsequent Interest Payment Date, excluding the Maturity Date
Any early redemption will be subject to the prior approval of the Swedish Financial Supervisory Authority |
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(ii) Optional Redemption Amount(s) of each Instrument and method, if any, of calculation of such amount(s): |
Each Instrument will be redeemed at its nominal amount |
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(iii) If redeemable in part: |
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(a) Minimum Redemption Amount: |
Not Applicable |
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(b) Higher Redemption Amount: |
Not Applicable |
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(iv) Notice period (if other than as set out in the Conditions): |
Not Applicable |
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21. |
Investor Put |
Not Applicable |
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22. |
Final Redemption Amount of each Instrument |
Each Instrument will be redeemed at its nominal amount |
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23. |
Early Redemption Amount(s) of each Instrument payable on redemption for taxation reasons or on event of default and/or the method of calculating the same (if required or if different from that set out in Condition 5.07): |
If applicable, each Instrument will be redeemed at its nominal amount
Any early redemption will be subject to the prior approval of the Swedish Financial Supervisory Authority |
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GENERAL PROVISIONS APPLICABLE TO THE INSTRUMENTS | ||
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24. |
Form of Instruments: |
Bearer Instruments:
Temporary Global Instrument exchangeable for a Permanent Global Instrument which is exchangeable for definitive Instruments only upon an Exchange Event
Definitive Instruments will in no circumstances be issued to any person holding less than EUR50,000 in aggregate principal amount of Instruments |
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25. |
Additional Financial Centre(s) or other special provisions relating to Payment Dates: |
Not Applicable |
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26. |
Talons for future Coupons or Receipts to be attached to definitive Bearer Instruments (and dates on which such Talons mature): |
Yes. The Talon will mature in December 2011 |
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27. |
Details relating to Partly Paid Instruments: amount of each payment comprising the Issue date on which each payment is to be made and consequences of failure to pay, including any right of the Bank to forfeit the Instruments and interest due on late payment: |
Not Applicable |
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28. |
Details relating to Instalment Instruments: |
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(i) Instalment Amount(s): |
Not Applicable |
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(ii) Instalment Date(s): |
Not Applicable |
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29. |
Redenomination applicable: |
Redenomination not applicable |
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30. |
Other final terms: |
Condition 6 as set out in the Information Memorandum dated 5 July 2005 shall not apply to the Instruments and, instead, Condition 6 as set out in the Supplement dated 21 September 2005 shall apply to the Instruments |
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DISTRIBUTION | ||
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31. |
(i) If syndicated, names of Managers: |
Joint Lead Managers
Lehman Brothers International (Europe)
Skandinaviska Enskilda Banken AB (publ) UBS Limited Co-Lead Managers BNP Paribas Citigroup Global Markets Limited Deutsche Bank AG, London Branch |
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(ii) Date of Subscription Agreement |
26 September 2005 |
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(iii) Stabilising Manager (if any): |
Skandinaviska Enskilda Banken AB (publ) |
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32. |
If non-syndicated, name of relevant Dealer: |
Not Applicable |
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33. |
Whether TEFRA D or TEFRA C rules applicable or TEFRA rules not applicable: |
TEFRA D |
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34. |
Total commission and concessions: |
Not Applicable |
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35. |
Additional selling restrictions: |
The selling restrictions set out in the Information Memorandum shall be applicable to the Instruments |
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LISTING AND ADMISSION TO TRADING APPLICATION | ||
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These Final Terms comprise the final terms required to list and have admitted to trading the issue of Instruments described herein pursuant to the Global Programme for the Continuous Issuance of Debt Instruments of Skandinaviska Enskilda Banken AB (publ). | ||
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RESPONSIBILITY | ||
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The Bank accepts responsibility for the information contained in these Final Terms. | ||
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Signed on behalf of the Bank:
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By:...............
Duly authorised |
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PART B - OTHER INFORMATION | ||
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1. |
LISTING |
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(i) Listing: |
London |
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(ii) Admission to trading: |
Application has been made for the Instruments to be admitted to trading on the gilt edged and fixed interest market of the London Stock Exchange with effect from 28 September 2005 |
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(iii) Estimate of total expenses related to admission to trading: |
EUR1,500,000 |
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2. |
RATINGS |
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Ratings: |
The Instruments to be issued have been rated: S & P: A- Moody's: A1 Fitch: A |
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3. |
INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE | |
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Save for any fees payable to the Dealers, so far as the Bank is aware, no person involved in the issue of the Instruments has an interest material to the offer. | |
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4. |
OPERATIONAL INFORMATION |
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(i) ISIN Code: |
XS0230339847 |
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(ii) Common Code: |
023033984 |
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(iii) Any clearing system(s) other than Euroclear Bank S.A./N.V. and Clearstream Banking, société anonyme and the relevant identification number(s): |
Not Applicable |
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(iv) Whether Register is held by the Principal Registrar or the Alternative Registrear |
Not Applicable |
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(v) Delivery: |
Delivery against payment |
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(vi) Names and addresses of additional Paying Agent(s) (if any): |
Not Applicable |
For further information, please contact
Thomas Bengtson / Per Falck
Skandinaviska Enskilda Banken AB (publ)
Group Treasury
Kungsträdgårdsgatan 8
SE-106 40 STOCKHOLM, Sweden
Tel. No. +46 8 763 8150 or +46 8 763 8094
DISCLAIMER - INTENDED ADDRESSEES
Please note that the information contained in the Final Terms may be addressed to and/or targeted at persons who are residents of particular countries (specified in the Information Memorandum (the Information Memorandum) dated 5th July, 2005 relating to Skandinaviska Enskilda Banken AB publ's Global Programme for the Issuance of Debt Instruments) only and is not intended for use and should not be relied upon by any person outside these countries and/or to whom the offer contained in the Final Terms are not addressed. Prior to relying on the information contained in the Final Terms and/or Information Memorandum you must ascertain from the Information Memorandum whether or not you are part of the intended addressees of the information contained therein.
Your right to access this service is conditional upon complying with the above requirement.