Riyad Bank — Capital/Financing Update 2020

Feb 18, 2020

Riyad Bank announces the commencement of the first offer of International Tier 2 Sukuk denominated in U.S. Dollars

1010 · 18/02/2020 09:10:56 · Announcement #57565 · View on Saudi Exchange

Riyad Bank announces the commencement of the first offer of International Tier 2 Sukuk denominated in U.S. Dollars

Element List	Explanation
Introduction	Reference to the announcement from Riyad Bank (the “Bank”) published on the website of the Saudi Stock Exchange (Tadawul) on 17/06/1441H (corresponding to 11/02/2020G) relating to the establishment of a programme (the “Programme”) to issue primary and secondary bonds and instruments inside and outside the Kingdom of Saudi Arabia and the intention to offer its first trust certificates under the Programme pursuant to the terms and conditions determined by the Bank and subject to market conditions, the Bank would like to announce the commencement of the first issuance of the certificates under the Programme.
Issuance Type	International Tier 2 Sukuk denominated in U.S. dollars.
Issuance Amount	It is subject to market conditions.
Issuing Start Date	2020-02-18 Corresponding to 1441-06-24
Issuing End Date	2020-02-19 Corresponding to 1441-06-25
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 J.P Morgan, Riyad Capital, Standard Chartered Bank, HSBC, and First Abu Dhabi Bank.
Minimum Subscription	USD 200,000 plus increments of USD 1,000
Listing Price (Sukuk /Bonds)	It is subject to market conditions.
Par Value	USD 200,000
Return (Sukuk /Bonds)	It is subject to market conditions.
Maturity (Sukuk /Bonds)	10 Years.
Terms of Redemption	The certificates may be redeemed prior to the scheduled maturity date due to:

(1) A Capital Disqualification Event;

(2) Tax reasons; or

(3) At the option of the Bank on the Periodic Distribution Date that falls on the fifth or five and half anniversary of the Issue Date (to be determined subject to market conditions), and each Periodic Distribution Date thereafter in each case, subject to the terms and conditions of the certificates. Additional Information 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.

The Capital Market Authority and Saudi 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.