SEB — Capital/Financing Update 2013

Oct 18, 2013

SEB

AB SEB BANKAS

THE FINAL TERMS NO. 20131015/001

NOTES LINKED TO THE BASKET OF SHARES OF TEN EUROPEAN COMPANIES ISSUED UNDER THE BASE PROSPECTUS OF LTL 1,000,000,000 NON-EQUITY SECURITIES ISSUE PROGRAMME,

16 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 (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.crlb.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
5. ISIN	During the preparation of the Final Terms, no ISIN codes are assigned to the issues of the reference item linked 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

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1. Issue maturity term 1,102 days
2. Issue date 5 November 2013
3. Redemption date 11 November 2016

4. Basis for the issue of the non-equity securities Resolution No. 41.3 dated on 30 September 2013 of the Board of AB SEB bankas.

5. Terms of reference item linked notes
   12.1. reference item

The basket of shares of ten European companies: Vinci SA, Bayerische Motoren Werke (BMW) AG, Deutsche Telekom AG, Muenchener Rueckversicherungs-Gesellschaft AG (MunichRe), Siemens AG, Svenska Handelsbanken AB, Air Liquide SA, GDF Suez, Eni S.p.A. and Unilever NV. All these shares are equally weighted in the basket.

Vinci SA – the company builds roads, offers electrical, mechanical and civil engineering and construction services, and operates toll roads. More information about the company can be found on www.vinci.com (Bloomberg code – DG FP).

Bayerische Motoren Werke (BMW) AG – the company manufactures and sells luxury cars and motorcycles worldwide. More information about the company can be found on www.bmw.com (Bloomberg code – BMW GY).

Deutsche Telekom AG – the company offers a full range of fixed-line telephone services, mobile communications services, Internet access, combined information technology and telecommunications services for businesses. More information about the company can be found on www.telekom3.de (Bloomberg code – DTE GY).

Muenchener Rueckversicherungs-Gesellschaft AG (MunichRe) – the company offers reinsurance, insurance, and asset management services. More information about the company can be found on www.munichre.com (Bloomberg code – MUV2 GY).

Siemens AG – the company focuses on four major business sectors including infrastructure and cities, healthcare, industry and energy. Siemens AG also provides engineering solutions in automation and control, power, transportation, and medical solutions. More information about the company can be found on www.siemens.com (Bloomberg code – SIE GY).

Svenska Handelsbanken AB – the Bank offers corporate finance, securities brokerage, commodity trading, structured products, custody services, and asset management services. More information about the company can be found on www.handelsbanken.se (Bloomberg code – SHBA SS).

Air Liquide SA – a holding company which through its subsidiaries, produces, markets, and sells industrial and healthcare gases worldwide. The company also produces welding equipment, diving equipment, and technical-medical equipment. More information about the company can be found on www.airliquide.com (Bloomberg code – AI FP).

GDF Suez – the Company produces, trades, transports, stores and distributes natural gas, and offers energy management and climatic and thermal engineering services. More information about the company can be found on www.gdfsuez.com (Bloomberg code – GSZ FP).

Eni S.p.A. – the company produces natural gas and imports it for sale in Italy and elsewhere in Europe. The company generates and trades electricity, refines oil, and operates gasoline service stations. More information about the company can be found on www.eni.it (Bloomberg code – ENI IM).

Unilever NV – the company manufactures branded and packaged consumer goods, including food, detergents, fragrances, home and personal care products. More information about the company can be found on

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12.2. historical changes in the value of the reference item
12.3. notes redemption price or procedure for its calculation

www.unilever.com (Bloomberg code – UNA NA).

Historical price changes of the shares of each company can be found on www.bloomberg.com.

If the value of the basket of shares increases, the nominal value and the premium for the increase will be paid to the investor on the redemption date:

$$
RP = N + P
$$

where:

RP – redemption price;

N – nominal value of the reference item linked note;

P – premium.

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

12.4. premium rate or procedure for its calculation
12.4.1. premium paid on notes redemption date:
12.4.1.1. terms of payment of premium

The premium shall be paid for the increase of the value of the basket of shares. The change of the value of the basket of shares is equal to the arithmetic average of the changes in value of each share in the basket. Change in the value of each share is calculated by comparing the final value of the share with the initial value of that particular share. If the value of the basket of shares does not change or decreases, no premium is paid.

12.4.1.2. procedure for calculating premium

$$
P = N \times Q \times \text{Max}{0\%; A_{pn}};
$$

$$
A_{pn} = \sum_{i=1}^{10} \frac{I}{10} \times A_{pi}
$$

where:

P – premium;

N – nominal value of the reference item linked note;

Q – participation ratio;

$A_{pn}$ – change of the value of the basket of shares;

$A_{pi}$ – change of the value of each share comprising in the basket

$$
A_{pi} = \frac{A_{ph_i}}{A_{pr_i}} - 1
$$

$A_{pri}$ – initial value of the share;

$A_{ph_i}$ – final value of the share.

If the value of the basket of shares does not change or decreases, no premium is paid.

12.4.1.3. expected value of participation ratio

25%

100%

25%

12.4.1.4. minimum participation ratio value

20%

80%

20%

12.4.1.5. date of announcement of actual value of variables of the issue

The actual value of participation ratio shall be published on 6 November 2013

12.5. initial value of reference item

Initial value of each share comprising the basket is equal to the closing price for such share on 6 November 2013.

12.6. final value of reference item

Final value of each share comprising the basket is equal to the arithmetic average of the interim prices of such share, which is estimated on the 26th day of every month, commencing on 26 October 2015 and ending on 26 October 2016, and is calculated following the below formula:

$$
A_{ph_i} = \frac{A_1 + A_2 + A_3 + A_4 + A_5 + A_6 + A_7 + A_8 + A_9 + A_{10} + A_{11} + A_{12} + A_{13}}{13} \text{ where:}
$$

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$A_{1}$—share value on 26 October 2015
$A_{2}$—share value on 26 November 2015
$A_{3}$—share value on 26 December 2015
$A_{4}$—share value on 26 January 2016
$A_{5}$—share value on 26 February 2016
$A_{6}$—share value on 26 March 2016
$A_{7}$—share value on 26 April 2016
$A_{8}$—share value on 26 May 2016
$A_{9}$—share value on 26 June 2016
$A_{10}$—share value on 26 July 2016
$A_{11}$—share value on 26 August 2016
$A_{12}$—share value on 26 September 2016
$A_{13}$—share value on 26 October 2016

12.7. value of reference item and other related terms

The value of each particular share comprising the basket means the official closing price of such particular share published by the particular stock exchange on the particular date.

Stock exchange means with respect to:

Vinci SA, Air Liquide SA, GDF Suez shares – Euronext Paris or any other exchange or exchanges that may substitute such Exchange;

Bayerische Motoren Werke (BMW) AG, Deutsche Telekom AG, Muenchener Rueckversicherungs-Gesellschaft AG (MunichRe), Siemens AG shares – Xetra or any other exchange or exchanges that may substitute such Exchange;

Eni S.p.A. share – Borsa Italiana or any other exchange or exchanges that may substitute such Exchange;

Svenska Handelsbanken AB share – Stockholm or any other exchange or exchanges that may substitute such Exchange;

Unilever NV share – Euronext Amsterdam or any other exchange or exchanges that may substitute such Exchange.

If the valuation date of a share is a non-business day of a particular stock exchange, the share 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 shares comprising the basket as well as in futures and/or options of a relevant share and/or market(s), where a relevant share, futures and/or options of a relevant share are being traded.

12.8. 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

Not defined. The reference item linked notes are offered to all investors without any restrictions.

1. Nominal value per non-equity security

LTL 100

LTL 100

EUR 100

1. Issue size in units

Unlimited

1. Total nominal value of the issue

Unlimited

1. Subscription price(s) of non-equity security

Subscription prices of the reference item linked notes are specified in Annex No.1

17.1 risk premium

LTL 0

LTL 6

EUR 0

17.2 calculation of subscription price

$$
SP = (N + R) \times \frac{1}{1 + \frac{Y}{100} \times \frac{d}{265}}
$$

where:

SP – subscription price of the reference item linked notes;
Y – annual interest rate 0,01%;

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R – risk premium;
N – nominal value of the reference item linked note;
d – days remaining until the end of subscription period of the reference item linked notes.

1. Subscription fee
   Subscription fee is equal to 1 percent of the nominal value of the note and is applied to all investors.

2. Subscription period
   October 18 – November 4, 2013

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

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

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

6. 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 reference item linked notes on the following business day (after the day on which the reference item linked notes were subscribed) at the price that is effective on the day the reference item linked notes were subscribed, 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 reference item linked notes. If the date of payment for the reference item linked notes selected by the investor is later than the date of signing of the subscription agreement of reference item linked notes, 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 (4 November, 2013) the reference item linked notes subscription agreement shall only be signed until 3 p.m.

7. Procedure for provision of information about non-equity securities assigned to investors
   Information on the reference item linked 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 reference item linked notes.

8. Markets where the offer will take place
   The Republic of Lithuania

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

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

11. Information about parties who assume the firm commitment to underwrite a part of the securities of the issue
    There is no parties ensuring the subscription of the total issue of non-equity securities or any portion thereof.

12. Protector of interests of owners of the non-equity securities
    AB bankas Finasta, Maironio g. 11 LT-01124 Vilnius, tel. +370 5 203 2233, www.finasta.lt.

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SEB

LISTING ON REGULATED MARKET TRADING LISTS

1. Listing on regulated market trading lists Not intended.
2. Entities who undertook the obligation to support secondary trading 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 12.4.1.4. 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:

2. the announcement about the cancellation of the issues will be published on November 6, 2013 on the Bank's website www.seb.lt;

3. 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;

• 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 reference item linked 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 Bankas Ewaldas Čepulis

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Annex 1

Issue prices of notes linked to the basket of shares of ten European companies

| Notes
subscription start date | Notes
subscription end date | Notes start date | Day calculation method | Number of
subscription period days |
| --- | --- | --- | --- | --- |
| 2013 10 18 | 2013 11 04 | 2013 11 05 | act/365 | 18 |
| 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 10 18 | Friday | 99.9995 | 105.9995 | 99.9995 | 18 |
| 2013 10 21 | Monday | 99.9996 | 105.9996 | 99.9996 | 15 |
| 2013 10 22 | Tuesday | 99.9996 | 105.9996 | 99.9996 | 14 |
| 2013 10 23 | Wednesday | 99.9996 | 105.9996 | 99.9996 | 13 |
| 2013 10 24 | Thursday | 99.9997 | 105.9997 | 99.9997 | 12 |
| 2013 10 25 | Friday | 99.9997 | 105.9997 | 99.9997 | 11 |
| 2013 10 28 | Monday | 99.9998 | 105.9998 | 99.9998 | 8 |
| 2013 10 29 | Tuesday | 99.9998 | 105.9998 | 99.9998 | 7 |
| 2013 10 30 | Wednesday | 99.9998 | 105.9998 | 99.9998 | 6 |
| 2013 10 31 | Thursday | 99.9999 | 105.9999 | 99.9999 | 5 |
| 2013 11 04 | Monday | 100.0000 | 106.0000 | 100.0000 | 1 |
| 2013 11 05 | 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	Laisvös al. 87/Maironio 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	Sevanorių 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-49425 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
PANEVĖŽIO 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. Bilitino 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. 37A, 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	Tilšės 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
Plangės sub-branch	Vytauto g. 14, LT-90123 Plungė	I - V 8.30 - 17.00
VILNIAUS branch	Sevanorių pr. 1, LT-05116 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
"Akropolio" 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
Until 21 October, 2013:
Gedimino ave. 12, LT-01103 Vilnius	I – IV 8.00 – 17.00
V – 8.00 – 15.45
Starting from 21 October, 2013:
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 str. 1, LT-01116 Vilnius	I – IV 8.00 – 17.00
V – 8.00 – 15.45