ASSA ABLOY

Capital/Financing Update • Feb 21, 2019

FINAL TERMS

MIFID II PRODUCT GOVERNANCE / PROFESSIONAL INVESTORS AND ECPS ONLY TARGET MARKET - Solely for the purposes of the manufacturer's product approval process, the target market assessment in respect of the Notes has led to the conclusion that: (i) the target market for the Notes 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 Notes to eligible counterparties and professional clients are appropriate. Any person subsequently offering, selling or recommending the Notes (a distributor) should take into consideration the manufacturer's target market assessment; however, a distributor subject to MiFID II is responsible for undertaking its own target market assessment in respect of the Notes (by either adopting or refining the manufacturer's target market assessment) and determining appropriate distribution channels.

19 February 2019

ASSA ABLOY AB (publ)

Legal entity identifier (LEI): 549300YECS8HKCIMMB67

Issue of SEK 500,000,000 0.875 per cent. Fixed Rate Notes due 22 February 2023 under the $E2,500,000,000$ Global Medium Term Note Programme

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 Offering Circular dated 26 October 2018 (the Offering Circular together with the supplement to it dated 5 February 2019, the Offering Circular). The Offering Circular constitutes a base prospectus for the purposes of the Prospectus Directive. This document constitutes the Final Terms of the Notes described herein for the purposes of Article 5.4 of the Prospectus Directive and must be read in conjunction with the Offering Circular. Full information on the Issuer and the Guarantor (in the case of Guaranteed Notes) and the offer of the Notes is only available on the basis of the combination of these Final Terms and the Offering Circular. The Offering Circular has been published on the website of the London Stock Exchange through a regulatory information service (www.londonstockexchange.com/exchange/news/market-news/market-news-home.html).

The Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the Securities Act) or any U.S. state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the Securities Act) unless an exemption from the registration requirements of the Securities Act is available and in accordance with all applicable securities laws of any state of the United States and any other jurisdiction.

1.	(i)	Issuer:	ASSA ABLOY AB (publ)
2.	(i)	Series Number:	67
	(ii)	Tranche Number:
	(iii)	Date on which the Notes will be consolidated and form a single Series:	Not Applicable
3.		Specified Currency or Currencies:	Swedish Kronor ("SEK")
4.	Aggregate Nominal Amount:
	(i)	Series:	SEK 500,000,000
	(ii)	Tranche:	SEK 500,000,000
5.	Issue Price of Tranche:		99.902 per cent. of the Aggregate Nominal Amount

6.	(i)	Specified Denominations:	SEK 2,000,000 and integral multiples of SEK 1,000,000 in excess thereof
	(ii)	Calculation Amount (in relation to calculation of interest in global form see the Conditions):	SEK 1,000,000
7.	(i)	Issue Date:	22 February 2019
	(ii)	Interest Commencement Date:	Issue Date
8.	Maturity Date:		22 February 2023
9.	Interest Basis:		0.875 per cent. Fixed Rate (see paragraph 13 below)
10.	Redemption Basis:		Subject to any purchase and cancellation or early redemption, the Notes will be redeemed on the Maturity Date at 100.00 per cent. of their nominal amount
11 ii		Change of Interest Basis:	Not Applicable
12.		Put/Call Options:	Not Applicable

PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE

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13.		Fixed Rate Note Provisions	Applicable
	(i)	$Rate(s)$ of Interest:	0.875 per cent. per annum payable in arrear on each Interest Payment Date
	(ii)	Interest Payment Date(s):	22 February in each year from, and including 22 February 2020, up to and including the Maturity Date
	(iii)	Fixed Coupon Amount(s) for Notes in definitive form (and in relation to Notes in global form see the Conditions):	SEK 8,750 per Calculation Amount
	(iv)	Broken Amount(s) for Notes in definitive form (and in relation to Notes in global form see the Conditions):	Not Applicable
	(v)	Day Count Fraction:	30/360
	(vi)	Determination Date(s):	Not Applicable
14.		Floating Rate Note Provisions	Not Applicable
15.		Zero Coupon Note Provisions	Not Applicable
		PROVISIONS RELATING TO REDEMPTION
16.	Issuer Call:		Not Applicable
17.	Make-whole Redemption by the Issuer:		Not Applicable
18.	Investor Put:		Not Applicable
19.		Final Redemption Amount:	SEK 1,000,000 per Calculation Amount
20.	default:	Early Redemption Amount payable on redemption for taxation reasons or on event of	SEK 1,000,000 per Calculation Amount

GENERAL PROVISIONS APPLICABLE TO THE NOTES

$21.$ Form of Notes:

$(ii)$

22.

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$(i)$ Form: Bearer Notes:

Temporary Bearer Global Note exchangeable for a Permanent Bearer Global Note which is exchangeable for Definitive Notes only upon an Exchange Event

N_o

Not Applicable

No.

1. Talons for future Coupons to be attached to Definitive Bearer Notes:

New Global Note:

Additional Financial Centre(s):

THIRD PARTY INFORMATION

Not Applicable

Signed on behalf of ASSA ABLOY AB (publ):

By: Gardmark Duly authorised Jona

Signed on behalf of ASSA ABLOY AB (publ):

By: Duly authorised Lena Bernhardsea

PART B-OTHER INFORMATION

1. LISTING AND ADMISSION TO TRADING

• $(i)$ Listing and admission to trading: London
• $(ii)$ Estimate of total expenses related to GBP 2,185 admission to trading:

$2.$ RATINGS

Ratings:

The Notes to be issued are not to be rated

$3.$ INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE

Save for any fees payable to the Dealer, so far as the Issuer is aware, no person involved in the issue of the Notes has an interest material to the offer. The Dealer and its 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 Issuer and its affiliates in the ordinary course of business.

$4.$ YIELD

Indication of yield:

0.90 per cent. per annum The yield is calculated at the Issue Date on the basis of the Issue Price. It is not an indication of future yield.

5. OPERATIONAL INFORMATION

(i)	ISIN:	XS1953826549
(ii)	Common Code:	195382654
(iii)	Any clearing system(s) other than Not Applicable DTC, Euroclear and Clearstream, Luxembourg and the relevant identification number (s):
(iv)	Names and addresses of initial Paying	Citibank, N.A., London Branch
	Agent(s) $(if any)$ :	Citigroup Centre
		Canada Square
		Canary Wharf
		London E14 5LB
		United Kingdom
(v)	Names and addresses of additional Paying Agent(s) (if any):	Not Applicable
(vi)	CFI:	DTFXFB
(vii)	FISN:	ASSA ABLOY AB/.87EMTN 20230222
(viii)	Intended to be held in a manner which would allow Eurosystem eligibility:	No. Whilst the designation is specified a date of this Final Terms, should the

becified as "no" at the buld the Eurosystem eligibility criteria be amended in the future such that the Notes are capable of meeting them the Notes may then be deposited with one of the ICSDs as common safekeeper. Note that this does not necessarily mean that the Notes will then be recognised as eligible collateral for Eurosystem monetary policy and intra

day credit operations by the Eurosystem at any time during their life. Such recognition will depend upon the ECB being satisfied that Eurosystem eligibility criteria have been met.

6. DISTRIBUTION

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• $(i)$ U.S. Selling Restrictions: Reg. S Compliance Category 2; TEFRA D
• Prohibition of Sales to EEA Retail Not Applicable $(ii)$ Investors:
• Prohibition of Sales to Belgian Applicable (iii) Consumers: