SEB — Capital/Financing Update 2013

Nov 7, 2013

SEB

AB SEB BANKAS

THE FINAL TERMS NO. 20131015/002

NOTES LINKED TO THE UNIT OF TECHNOLOGY SELECT SECTOR SPDR FUND

ISSUED UNDER THE BASE PROSPECTUS OF LTL 1,000,000,000 NON-EQUITY SECURITIES ISSUE PROGRAMME,

30 October 2013

Vilnius

These Final Terms and the LTL 1,000,000,000 non-equity securities issue Programme Base Prospectus, which was approved by the Bank of Lithuania on 15 October, 2013 (approval certificate No. 241-211), Annex to the Base Prospectus (if any), as well as documents incorporated by reference constitute the Prospectus of the issue that was prepared in accordance with the Rules for Drawing up and Approval of a Prospectus of Securities and Information Disclosure approved by the Bank of Lithuania No. 03-44 of 28 February 2013 and in accordance with Commission Regulation No. 809/2004 of 29 April 2004 implementing Directive No. 2003/71/EC of the European Parliament and of the Council as regards information contained in prospectuses as well as the format, incorporation by reference and publication of such prospectuses and dissemination of advertisements and all of its subsequent amendments.

These Final Terms is accompanied by a Summary of the Issue(s).

Prior to taking a decision to acquire any of the securities offered by the Issuer, investors should review all the documents comprising the Base Prospectus.

A paper copy of the Base Prospectus, Annex to the Base Prospectus (if any), the Final Terms, and documents incorporated by reference will be provided free of charge to each investor upon request at the Markets Department of AB SEB bankas (J. Balčikonio g. 7, Vilnius, Monday to Thursday 8.00 a.m.–5.00 p.m., Friday 8.00 a.m.–3.45 p.m.) and other branch offices of AB SEB bankas (at the addresses and during the opening hours specified in Annex 2 to the Final Terms). Investors can also review the aforementioned documents by visiting the Bank’s website at www.seb.lt. Information, which must be published by the Bank pursuant to legislation, will also be stored in the Central Storage Facility at www.crib.lt.

KEY INFORMATION

1. Issuer
   AB SEB bankas (may also be referred to as the Bank or the Issuer)

2. Interests of parties related to the issue
   There is no interest of natural and legal persons involved in the below described issues.

3. Reasons of the offer and use of income
   The Bank issuing non-equity securities seeks to offer for the investors a wider range of investment instruments and services. Funds accumulated from the issues of non-equity securities shall be used to finance the loans of the Bank and to manage the liquidity.

INFORMATION ABOUT NON-EQUITY SECURITIES OFFERED

First issue	Second issue	Third issue
4. Type of non-equity securities	Reference item linked notes (hereinafter referred to as note (s))
5. ISIN	During the preparation of the Final Terms, no ISIN codes are assigned to the issues of the notes. The ISIN code provided for each issue will be specified in the Reference item linked notes subscription agreement.
6. Entity accounting for the non-equity securities	AB SEB bankas
7. Currency	LTL	LTL
8. Issue maturity term	1,114 days

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1. Issue date 17 December 2013
2. Redemption date 4 January 2017

3. Basis for the issue of the non-equity securities Resolution No. 46.5 dated 28 October 2013 of the Board of AB SEB bankas.

4. Terms of reference item linked notes
   12.1. applicable interest 0 percent (not paid)
   12.2. reference item The unit of Technology Select Sector SPDR Fund (Fund Bloomberg code – XLK UP).

The Technology Select Sector SPDR Fund is an exchange-traded fund incorporated in the USA. The Fund's objective is to provide investment results that correspond to the performance of the Technology Select Sector Index. The Index includes products developed by defense manufacturers, microcomputer components, telecom equipment and integrated computer circuits. Fund commenced operations in 1998. More information about the Fund can be found on www.spdrs.com.

12.3. historical changes in the value of the reference item Historical value change of the Fund unit can be found on www.bloomberg.com (Fund Bloomberg code – XLK).

12.4. notes redemption price or procedure for its calculation If the value of the Fund unit increases, the nominal value and the premium for the increase will be paid to the investor on the redemption date:

$$
R P = N + P
$$

where:
RP – redemption price;
N – nominal value of the note;
P – premium.

If the value of the Fund unit does not change or decreases, the note nominal value is paid to the investor on the redemption date.

12.5. premium rate or procedure for its calculation
12.5.1. premium paid on notes redemption date:
12.5.1.1. terms of payment of premium The premium shall be paid for the increase of the value of the Fund unit. The Fund unit value change is calculated by comparing the final value of the Fund unit with the initial value of the Fund unit. If the value of the Fund unit does not change or decreases, no premium is paid.

12.5.1.2. procedure for calculating premium

$$
P = N \times Q \times \text{Max} (0\%; F_{pn})
$$

$$
F_{pn} = \frac{F_{ph}}{F_{pr}} - 1
$$

where:
P – premium;
N – nominal value of the note;
Q – participation ratio;
$F_{pn}$ – change of the value of the Fund unit;
$F_{pr}$ – initial value of the Fund unit
$F_{ph}$ – final value of the Fund unit

12.5.1.3. expected value of participation ratio 20% 75% 20%
12.5.1.4. minimum participation ratio value 15% 65% 15%

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12.5.1.5. date of announcement of actual value of variables of the issue
12.6. initial value of reference item
12.7. final value of reference item

The actual value of participation ratio shall be published on 18 December 2013.

Initial value of the Fund unit is equal to the Fund unit value on 18 December 2013.

Final value of the Fund unit is equal to the arithmetic average of the interim values of the Fund unit, which are estimated on the 16th day of every month, commencing on 16 December 2015 and ending on 16 December 2016, and is calculated following the below formula:

$$
F_{j0} = \frac{F_1 + F_2 + F_3 + F_4 + F_5 + F_6 + F_7 + F_8 + F_9 + F_{10} + F_{11} + F_{12} + F_{13}}{13} \text{ where:}
$$

$F_i$—fund unit value on 16 December 2015
$F_i$—fund unit value on 16 January 2016
$F_i$—fund unit value on 16 February 2016
$F_i$—fund unit value on 16 March 2016
$F_i$—fund unit value on 16 April 2016
$F_i$—fund unit value on 16 May 2016
$F_i$—fund unit value on 16 June 2016
$F_i$—fund unit value on 16 July 2016
$F_i$—fund unit value on 16 August 2016
$F_{ii}$—fund unit value on 16 September 2016
$F_{ii}$—fund unit value on 16 October 2016
$F_{ii}$—fund unit value on 16 November 2016
$F_{ii}$—fund unit value on 16 December 2016

12.8. value of reference item and other related terms

The value of the Fund unit means the official last (closing) price of the Technology Select Sector SPDR Fund unit published by the particular stock exchange on the particular date.

Stock exchange means New York Stock Exchange or any other exchange or exchanges that may substitute such exchange.

If the valuation date of a Fund unit is a non-business day of a particular stock exchange, the Fund unit value shall be calculated on the nearest business day of the particular stock exchange.

Business day of the stock exchange(s) and/or market(s) is a day when the stock exchange(s) is regularly trading in the Fund units as well as in futures and/or options of a relevant Fund units and/or market(s), where a relevant Fund units, futures and/or options of a relevant Fund units are being traded.

12.9. entity that will carry out calculations

AB SEB bankas

TERMS OF THE OFFER

1. Category of investors proposed for acquiring the non-equity securities and rights granted

Investors who are offered notes are divided into 2 categories. Depending on which category an investor is assigned to, different subscription fee shall be set:

• Subscription fee equal to 0.5 percent of the nominal value of the note shall be applied to investors who on the first day of the subscription period (i.e. 7 November 2013) of the notes, terms of which are set in the Final Terms, shall hold any of the following previously issued non-equity securities that are to be redeemed within the subscription period (i.e. 7 November 2013 – 16 December 2013) of the notes offered under the Final Terms:

• SEB JAV (ISIN codes – LT0000431082, LT0000431090 and LT1000430124)

• SEB IL Neste Oil (ISIN codes – LT1000401513 and LT1000401521)

Such fee shall be applied only if an investor subscribes for the notes at the addresses and within business hours specified in Annex no. 2 to the Final Terms.

• Subscription fee equal to 1 percent of the nominal value of the note

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shall be applied to all other investors.

1. Nominal value per non-equity security
   LTL 100
   LTL 100
   EUR 100

2. Issue size in units
   Unlimited

3. Total nominal value of the issue
   Unlimited

4. Subscription price(s) of non-equity security
   Subscription prices of the notes are specified in Annex No.1

17.1 risk premium
LTL 0
LTL 6
EUR 0

17.2 calculation of subscription price
$$SP = (N + R) \times \frac{1}{1 + \frac{Y}{100} \times \frac{d}{365}}$$
where:
SP – subscription price of the notes;
Y – annual interest rate 0,05%;
R – risk premium;
N – nominal value of the note;
d – days remaining until the end of subscription period of the notes.

1. Subscription fee
   Subscription fee equal to 0.5 percent of the nominal value of the note shall be applied to investors who on the first day of the subscription period (i. e. 7 November 2013) of the notes, terms of which are set in the Final Terms, shall hold any of the following previously issued non-equity securities that are to be redeemed within the subscription period (i. e. 7 November 2013 – 16 December 2013) of the notes offered under the Final Terms:
2. SEB JAV (ISIN codes – LT0000431082, LT0000431090 and LT1000430124)

3. SEB IL Neste Oil (ISIN codes – LT1000401513 and LT1000401521).
   Such fee shall be applied only if an investor subscribes for the notes at the addresses and within business hours specified in Annex no. 2 to the Final Terms.
   Subscription fee equal to 1 percent of the nominal value of the note shall be applied to all other investors.

4. Subscription period
   November 7 – December 16 2013

5. Information about the possibility to reduce the number of subscribed securities
   Not applicable

6. Minimum number of non-equity securities offered to one investor
   Not defined

7. Maximum number of non-equity securities offered to one investor
   Not defined

8. Venues of finalization of non-equity securities subscription agreements and deadline for payment for the securities
   The Reference item linked notes subscription agreement shall be signed at the addresses and within business hours specified in Annex no. 2 to the Final Terms.
   Subscription prices specified in Annex no. 1 to the Final Terms shall be valid until 3 p.m. of a particular day. In case an investor subscribes for reference item linked notes past 3 p.m., it shall in any case mean that the investor has to pay for the subscribed notes on the following business day (after the day on which the notes were subscribed) at the price that is effective on such day, unless the investor chooses another payment date.
   Investor signing the Reference item linked notes subscription agreement has an opportunity to select a payment date for the notes, if such date is a business day, and the price applicable on the relevant subscription date.
   Investor signing the Reference item linked notes subscription agreement has to accumulate in his account indicated in the subscription agreement the amount of funds necessary to pay for the notes. If the date of payment for the notes selected by the investor is later than the date of signing of the

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1. Procedure for provision of information about non-equity securities assigned to investors
2. Markets where the offer will take place
3. Announcement of the offer results
4. Placement agents
5. Information about parties who assume the firm commitment to underwrite a part of the securities of the issue
6. Protector of interests of owners of the non-equity securities

Reference item linked notes subscription agreement, the Bank shall limit the investor's right to dispose of the specified amount in the investor's account, which is necessary to pay for the non-equity securities being subscribed.

On the final day of the subscription period (16 December 2013) the Reference item linked notes subscription agreement shall only be signed until 3 p.m.

Information on the notes subscribed by investors shall be provided by the Bank by making entries in the personal securities accounts after the end of the subscription period of the notes.

The Republic of Lithuania

Provided that the issue comes into effect, not later than within 7 (seven) business days after the end of the subscription period of the notes, the report on distribution of the notes will be available on the website of the Central Storage Facility www.crib.lt.

AB SEB bankas, Gedimino pr. 12, Vilnius, tel. 1528, www.seb.lt

There is no parties ensuring the subscription of the total issue of non-equity securities or any portion thereof.

AB bankas Finasta, Maironio g. 11 LT-01124 Vilnius, tel. +370 5 203 2233, www.finasta.lt.

LISTING ON REGULATED MARKET TRADING LISTS

1. Listing on regulated market trading lists
2. Entities who undertook the obligation to support secondary trading

Not intended.

No intermediaries assume an obligation to ensure liquidity of non-equity securities in the secondary trading or other regulated markets.

ADDITIONAL INFORMATION

1. Cancellation of the issue(s)

The issues shall be considered failed and cancelled if the actual values of the participation ratios set by the Bank are lower than the minimum participation ratios indicated in part 12.5.1.4. of the Final Terms. The issues may be considered failed and cancelled if the total nominal value of issues is lower than LTL 5,000,000 or if any unpredictable economic, financial or political events, which might prevent success of the notes issues, occur. In case of cancellation of issues:

• the announcement about the cancellation of the issues will be published on December 18 2013 on the Bank's website www.seb.lt;
• all signed agreements will be considered invalid and no later than within 5 (five) business days after the announcement of cancellation of the issues, the investors will be refunded to the bank account from which the investors' funds were debited or to any other account indicated by the investor:

a) LTL 100 for each subscribed note of the first issue;
b) LTL 106 for each subscribed note of the second issue;
c) EUR 100 for each subscribed note of the third issue;
d) the subscription fee.

The issues may also be considered failed and cancelled if any event related to the risks of change in the calculation method of financial instrument value and/or premium calculation risk occur within the notes subscription period. In such case:

• relevant information will be immediately announced on the Bank's website www.seb.lt;

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• all signed agreements will be considered invalid and no later than within 5 (five) business days after the announcement of cancellation of the issues, the investor will be refunded to the bank account from which the investor's funds were debited, or to any other account indicated by the investor:
  a) the price of the subscribed note effective on such announcement date and
  b) subscription fee.

• Advisors
  None

• Third party information
  The information published on Bloomberg was used while preparing the issue documents. The Bank believes that the sources of the above information are reliable, however, it will not independently verify this information. The Bank shall not assume any responsibility for its accuracy, authenticity or completeness.

• Credit ratings
  No rating is assigned to these notes. Currently, no rating agency assigns any credit ratings at the Bank's request or with cooperation of the Bank in the rating process.

The Issuer is responsible for the accuracy of the information contained in these Final Terms.

Deputy Head of Markets Department of AB SEB

Twaldas Čepulis

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SEB
Annex 1

Issue prices of notes linked to the unit of Technology Select Sector SPDR Fund

| Notes
subscription start date | Notes
subscription end date | Notes issue date | Day calculation method | Number of
subscription period
days |
| --- | --- | --- | --- | --- |
| 2013 11 07 | 2013 12 16 | 2013 12 17 | act/365 | 40 |
| Date | Day of the week | Prices of the first issue (LTL) | Prices of the second issue (LTL) | Prices of the third issue (EUR) | Number of days until the end of the subscription period |
| --- | --- | --- | --- | --- | --- |
| 2013 11 07 | Thursday | 99,9945 | 105,9942 | 99,9945 | 40 |
| 2013 11 08 | Friday | 99,9947 | 105,9943 | 99,9947 | 39 |
| 2013 11 11 | Monday | 99,9951 | 105,9948 | 99,9951 | 36 |
| 2013 11 12 | Tuesday | 99,9952 | 105,9949 | 99,9952 | 35 |
| 2013 11 13 | Wednesday | 99,9953 | 105,9951 | 99,9953 | 34 |
| 2013 11 14 | Thursday | 99,9955 | 105,9952 | 99,9955 | 33 |
| 2013 11 15 | Friday | 99,9956 | 105,9954 | 99,9956 | 32 |
| 2013 11 18 | Monday | 99,9960 | 105,9958 | 99,9960 | 29 |
| 2013 11 19 | Tuesday | 99,9962 | 105,9959 | 99,9962 | 28 |
| 2013 11 20 | Wednesday | 99,9963 | 105,9961 | 99,9963 | 27 |
| 2013 11 21 | Thursday | 99,9964 | 105,9962 | 99,9964 | 26 |
| 2013 11 22 | Friday | 99,9966 | 105,9964 | 99,9966 | 25 |
| 2013 11 25 | Monday | 99,9970 | 105,9968 | 99,9970 | 22 |
| 2013 11 26 | Tuesday | 99,9971 | 105,9970 | 99,9971 | 21 |
| 2013 11 27 | Wednesday | 99,9973 | 105,9971 | 99,9973 | 20 |
| 2013 11 28 | Thursday | 99,9974 | 105,9972 | 99,9974 | 19 |
| 2013 11 29 | Friday | 99,9975 | 105,9974 | 99,9975 | 18 |
| 2013 12 02 | Monday | 99,9979 | 105,9978 | 99,9979 | 15 |
| 2013 12 03 | Tuesday | 99,9981 | 105,9980 | 99,9981 | 14 |
| 2013 12 04 | Wednesday | 99,9982 | 105,9981 | 99,9982 | 13 |
| 2013 12 05 | Thursday | 99,9984 | 105,9983 | 99,9984 | 12 |
| 2013 12 06 | Friday | 99,9985 | 105,9984 | 99,9985 | 11 |
| 2013 12 09 | Monday | 99,9989 | 105,9988 | 99,9989 | 8 |
| 2013 12 10 | Tuesday | 99,9990 | 105,9990 | 99,9990 | 7 |
| 2013 12 11 | Wednesday | 99,9992 | 105,9991 | 99,9992 | 6 |
| 2013 12 12 | Thursday | 99,9993 | 105,9993 | 99,9993 | 5 |
| 2013 12 13 | Friday | 99,9995 | 105,9994 | 99,9995 | 4 |
| 2013 12 16 | Monday | 99,9999 | 105,9999 | 99,9999 | 1 |
| 2013 12 17 | Tuesday | 100,0000 | 106,0000 | 100,0000 | Notes start date |

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Annex 2

Addresses and business hours of the branch offices of AB SEB bankas

	Address	Business hours
KAUNO branch	Laureës al. 82/Mainoriu g. 17, LT-44250 Kaunas	I - V 8.30 - 17.00
Dainavos sub-branch	Taikos pr. 88A, LT-51182 Kaunas	I - V 8.30 - 17.00 VI 9.00 - 15.30
Aleksoto sub-branch	Veiverių g. 150, LT-46391 Kaunas	I - V 8.30 - 17.00
Žaliakalnio sub-branch	Savanorių pr. 192, LT-44151 Kaunas	I - V 9.00 - 17.30
Kaišiadorių sub-branch	Gedimino g. 62, LT-56145 Kaišiadorys	I - V 8.30 - 17.00
Alytaus sub-branch	Pulko g. 4, LT-62133 Alytus	I - V 8.30 - 17.00
Druskininkų sub-branch	V.Kudirkos g. 37, LT-66120 Druskininkai	I - V 8.30 - 17.00
SANTAKOS branch	Savanorių pr. 349, LT-69425 Kaunas	I - V 8.30 - 17.00
Šilainių sub-branch	Žemaičių pl. 23, LT-48244 Kaunas	I - V 8.30 - 17.00
Kėdainių sub-branch	J.Basanavičiaus g. 51, LT-57283 Kėdainiai	I - V 8.30 - 17.00
Jonavos sub-branch	J.Basanavičiaus g. 22 / Prezidento g. 8, LT-55149 Jonava	I - V 8.30 - 17.00
Marijampolės sub-branch	Vytauto g. 11/9, LT-68299 Marijampolė	I - V 8.30 - 17.00
Vilkaviškio sub-branch	Vytauto g. 24A, LT-70125 Vilkaviškis	I - V 8.30 - 17.00
PANEVEŽIO branch	Ukmergės g. 20, LT-35500 Panevėžys	I - IV 8.30 - 17.00 V 8.30 - 16.00
Biržų sub-branch	Rotušės g. 8, LT-41175 Biržai	I - IV 8.30 - 17.00 V 8.30 - 16.00
Utenos sub-branch	Utenio a. 15, LT-28248 Utena	I - IV 8.00 - 16.30 V 8.00 - 16.00
Rokiškio sub-branch	Nepriklausomybės a. 8, LT-42115 Rokiškis	I - IV 8.00 - 16.30 V 8.00 - 16.00
Anykščių sub-branch	J. Biliūno g. 4, LT-29114 Anykščiai	I - IV 8.00 - 16.30 V 8.00 - 16.00
Ukmergės sub-branch	Kęstučio a. 4, LT-20130 Ukmergė	I - IV 8.00 - 16.30 V 8.00 - 16.00
KLAIPĖDOS branch	Taikos pr. 32A, LT-91235 Klaipėda	I - V 8.30 - 17.00
H. Manto sub-branch	H. Manto g. 31, LT-92236 Klaipėda	I - V 8.30 - 17.00
Žardės sub-branch	Taikos pr. 115, LT-94231 Klaipėda	I - V 8.30 - 18.00 VI 9.00 - 15.30
Kretingos sub-branch	Birutės g. 1, LT-97126 Kretinga	I - V 8.30 - 17.00
Palangos sub-branch	Ganyklų g. 6, LT-00127 Palanga	I - V 8.30 - 17.00
Šilutės sub-branch	Lietuvininkų g. 74, LT-99172 Šilutė	I - V 8.30 - 17.00
ŠIAULIŲ branch	Tilžės g. 157, LT-76297 Šiauliai	I - V 8.30 - 17.00
Joniškio sub-branch	Vilniaus g. 1, LT-84147 Joniškis	I - V 8.00 - 16.30
Tauragės sub-branch	Bažnyčių g. 10, LT-72253 Tauragė	I - V 8.30 - 17.00
Mažeikių sub-branch	V.Burbos g. 3, LT-89218 Mažeikiai	I 8.30 - 18.00 II - V 8.30 - 17.00
Telšių sub-branch	Turgaus a. 24 / 1, LT-87122 Telšiai	I - V 8.30 - 17.00
Plungės sub-branch	Vytauto g. 14, LT-90123 Plungė	I - V 8.30 - 17.00
VILNIAUS branch	Savanorių pr. 1, LT-03116 Vilnius	I - V 8.30 - 17.00
Gedimino sub-branch	Gedimino pr. 12, LT-01103 Vilnius	I - V 8.00 - 17.00
M.Mažvydo sub-branch	Gedimino pr. 60, LT-01110 Vilnius	I - V 8.30 - 17.00
Rotušės sub-branch	Vokiečių g. 9, LT-01130 Vilnius	I - V 9.00 - 17.30
Naugarduko sub-branch	Naugarduko g. 55A, LT-03204 Vilnius	I - V 9.00 - 17.30
Švitrigailos sub-branch	Švitrigailos g. 11B, LT-03228 Vilnius	I - V 8.30 - 17.00
"EUROPOS" branch	Europos a. 1A, LT-09308 Vilnius	I - IV 9.00 - 17.30 V 8.30 - 17.00
Fabijoniškių sub-branch	Fabijoniškių g. 2A, LT-07109 Vilnius	I - V 9.00 - 17.30
Žvėryno sub-branch	Kęstučio 51A, LT-08124 Vilnius	I - V 8.30 - 17.00
Žirmūnų sub-branch	Žirmūnų g. 2, LT-09214 Vilnius	I - V 9.00 - 17.30
"Akropolis" sub-branch	Ozo g. 25, LT-07150 Vilnius	I - V 10.00 - 19.00 VI 10.00 - 18.00 VII 10.00 - 16.00
Antakalnio sub-branch	Antakalnio g. 41, LT-10312 Vilnius	I - V 9.00 - 17.30
Justiniškių sub-branch	Justiniškių g. 91, LT-05253 Vilnius	I - V 9.00 - 17.30
Verkių sub-branch	Lukšio g. 32, LT-08222 Vilnius	I - V 9.30 - 18.00
"Ozo parko" sub-branch	J. Balčikonio g. 3, LT-08247 Vilnius	I - V 8.30 - 17.00

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Annex 2

Address and business hours of Markets Department of AB SEB bankas

Address	Business hours
J. Balčikonio g. 7, LT-08247 Vilnius	I – IV 8.00 – 17.00
V – 8.00 – 15.45

Address and business hours of Private Banking Department of AB SEB bankas

Address	Business hours
Olimpiečių g. 1, LT-01116 Vilnius	I – IV 8.00 – 17.00
V – 8.00 – 15.45