SEB — Capital/Financing Update 2014

Jan 7, 2014

SEB

AB SEB BANKAS

THE FINAL TERMS NO. 20131015/003

SEB CENTRAL AND EASTERN EUROPE 3

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

SECURITIES ISSUE PROGRAMME,

20 December 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, 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	1,466 days

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SEB

1. Issue date 4 February 2014
2. Redemption date 9 February 2018

3. Basis for the issue of the non-equity securities Resolution No. 55.4 dated 16 December 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 CECE Composite Index in EUR (Index Bloomberg code – CECEEUR).

CECE Composite Index in EUR (hereinafter referred to as Index) is a free float weighted price index made up of the most liquid stocks traded on Budapest, Prague and Warsaw Stock Exchange. Index composition is defined to best reflect changes of the Central and Eastern Europe stock markets; therefore, the number of constituents and weight in the Index may change. Constituent weights are capped at 20%. The Index was first calculated in 1999. More information about the index can be found on www.indices.cc.

12.3. historical changes in the value of the reference item Historical value change of the Index can be found on www.indices.cc.
12.4. notes redemption price or procedure for its calculation If the value of the Index 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 Index does not change or decreases, only the note nominal value is paid to the investor on the redemption date, i.e. risk premium defined in Item 17.1 of the Final Terms (if applicable) and subscription fee defined in Part 18 of the Final Terms shall not be refunded to investors.

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 Index. The Index value change is calculated by comparing the final value of the Index with the initial value of the Index. If the value of the Index does not change or decreases, no premium is paid.
12.5.1.2. procedure for calculating premium

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

$$
I_{pn} = \frac{I_{pb}}{I_{pr}} - 1
$$

where:

P – premium;

N – nominal value of the note;

Q – participation ratio;

$I_{pn}$ – change of the value of the Index;

$I_{pr}$ – initial value of the Index;

$I_{pb}$ – final value of the Index

12.5.1.3. expected value of participation ratio 25% 100% 25%
12.5.1.4. minimum participation ratio value 20% 85% 20%
12.5.1.5. date of announcement of The actual value of participation ratio shall be published on 5 February 2014.

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SEB

actual value of variables of the issue

12.6. initial value of reference item
Initial value of the Index is equal to the Index value on 5 February 2014.

12.7. final value of reference item
Final value of the Index is equal to the arithmetic average of the interim values of the Index, which are estimated on the 24th day of every month, commencing on 24 January 2017 and ending on 24 January 2018, and is calculated following the below formula:

$$
I_{pb} = \frac{I_1 + I_2 + I_3 + I_4 + I_5 + I_6 + I_7 + I_8 + I_9 + I_{10} + I_{11} + I_{12} + I_{13}}{13} \text{ where:}
$$

$I_i$ – Index value on 24 January 2017
$I_1$ – Index value on 24 February 2017
$I_2$ – Index value on 24 March 2017
$I_3$ – Index value on 24 April 2017
$I_4$ – Index value on 24 May 2017
$I_5$ – Index value on 24 June 2017
$I_6$ – Index value on 24 July 2017
$I_7$ – Index value on 24 August 2017
$I_8$ – Index value on 24 September 2017
$I_{10}$ – Index value on 24 October 2017
$I_{11}$ – Index value on 24 November 2017
$I_{12}$ – Index value on 24 December 2017
$I_{13}$ – Index value on 24 January 2018

12.8. value of reference item and other related terms
The value of the Index means the official last (closing) value of the CECE Composite Index in EUR on the particular date.

If the valuation date of the Index (as specified in Items 12.6 and 12.7 of the Final Terms) is a non-business day of any national exchange(s) on which the constituent shares of the Index are traded, the Index value shall be calculated on the nearest following business day.

Business day means any scheduled trading day on which each national exchange and each related exchange are open for trading during their respective regular trading sessions, notwithstanding any such national exchange or related exchange closing prior to its scheduled closing time.

Related exchange is any exchange on which futures contracts and/or options contracts relating to the constituent share are 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:

2. 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 January 2014) 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 January 2014 – 3 February 2014) of the notes offered under the Final Terms:

3. SEB metalai (ISIN codes – LT0000431025, LT0000431140 and LT1000430165)

4. SEB Skandinavija (ISIN codes – LT0000431157, LT0000431165 and LT1000430173)
5. SEB Kinijos juanis (ISIN codes – LT0000402711, LT0000402729)

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.

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S|E|B

• Subscription fee equal to 1 percent of the nominal value of the note shall be applied to all other investors.

• Nominal value per non-equity security
  LTL 100
  LTL 100
  EUR 100

• Issue size in units
  Unlimited

• Total nominal value of the issue
  Unlimited

• 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 10
EUR 0

17.2 calculation of subscription price
$$SP = (N + R) \times \frac{I}{I + \frac{F}{100} \times \frac{d}{365}}$$
where:
SP – subscription price of the notes;
Y – annual interest rate 0,01%;
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 January 2014) 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 January 2014 – 3 February 2014) of the notes offered under the Final Terms:
2. SEB metalai (ISIN codes – LT0000431025, LT0000431140 and LT1000430165)
3. SEB Skandinavija (ISIN codes – LT0000431157, LT0000431165 and LT1000430173)

4. SEB Kinijos juonis (ISIN codes – LT0000402711, LT0000402729)
   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.

5. Subscription period
   7 January – 3 February 2014

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

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

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

9. 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.
   The Reference item linked notes subscription agreement may be also signed via the Internet Securities Trading System of the Bank.
   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 the 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

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S|EB

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 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 (3 February 2014) the Reference item linked notes subscription agreement shall only be signed until 3 p.m.

1. Procedure for provision of information about non-equity securities assigned to investors
   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.

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

3. 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 notes, the report on distribution of the notes will be available on the website of the Central Storage Facility www.crib.lt.

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

5. 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.

6. 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.

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 12.5.1.4. 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:

2. the announcement about the cancellation of the issues will be published on 5 February 2014 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 110 for each subscribed note of the second issue;
   c) EUR 100 for each subscribed note of the third issue;
   d) the subscription fee.

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SEB

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 and website www.indices.cc 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.

CECE Composite Index (CECE) is calculated and published by Vienna Stock Exchange and therefore represents its intellectual property. The designation "CECE" is a registered trademark of Vienna Stock Exchange. The index description as well as its rules and composition are online available on www.indices.cc.

Vienna Stock Exchange does not guarantee the accuracy and/or the completeness of the index or any data included therein and Vienna Stock Exchange shall have no liability for any errors, omissions, or interruptions therein.

SEB Central and Eastern Europe 3 (notes linked to the CECE Composite Index in EUR) to be issued under these Final terms are not in any way sponsored, endorsed, sold or promoted by Vienna Stock Exchange. Vienna Stock Exchange makes no warranty or representation whatsoever express or implied, to owners of the products, or any other person or entity from the use of the index or any data included therein. Without limiting any of the foregoing, in no event shall Vienna Stock Exchange have any liability for any special, punitive, indirect, or consequential damages (including lost profits), even if notified of the possibility of such damages.

1. 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.

Head of Markets Department of AB SEB bank 15 Rolandas Sungaila

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SEB
Annex 1

Issue prices of SEB Central and Eastern Europe 3 notes

| Notes
subscriptions start date | Notes
subscriptions end date | Notes issue date | Days start date (method) | Number of
subscriptions posted
days |
| --- | --- | --- | --- | --- |
| 2014/04/07 | 2014/07/03 | 2014/07/03 | est2020 | 28 |
| Date | Days of the week | Price of the day/issue (SEB) | Price of the second issue (SEB) | Price of the third issue (SEB) | Number of days until the end of the subscription posted |
| --- | --- | --- | --- | --- | --- |
| 2014 01 07 | Tuesday | 99,9992 | 109,9992 | 99,9992 | 28 |
| 2014 01 08 | Wednesday | 99,9993 | 109,9992 | 99,9993 | 27 |
| 2014 01 09 | Thursday | 99,9993 | 109,9992 | 99,9993 | 26 |
| 2014 01 10 | Friday | 99,9993 | 109,9992 | 99,9993 | 25 |
| 2014 01 13 | Monday | 99,9994 | 109,9993 | 99,9994 | 22 |
| 2014 01 14 | Tuesday | 99,9994 | 109,9994 | 99,9994 | 21 |
| 2014 01 15 | Wednesday | 99,9995 | 109,9994 | 99,9995 | 20 |
| 2014 01 16 | Thursday | 99,9995 | 109,9994 | 99,9995 | 19 |
| 2014 01 17 | Friday | 99,9995 | 109,9995 | 99,9995 | 18 |
| 2014 01 20 | Monday | 99,9996 | 109,9995 | 99,9996 | 15 |
| 2014 01 21 | Tuesday | 99,9996 | 109,9996 | 99,9996 | 14 |
| 2014 01 22 | Wednesday | 99,9996 | 109,9996 | 99,9996 | 13 |
| 2014 01 23 | Thursday | 99,9997 | 109,9996 | 99,9997 | 12 |
| 2014 01 24 | Friday | 99,9997 | 109,9997 | 99,9997 | 11 |
| 2014 01 27 | Monday | 99,9998 | 109,9998 | 99,9998 | 8 |
| 2014 01 28 | Tuesday | 99,9998 | 109,9998 | 99,9998 | 7 |
| 2014 01 29 | Wednesday | 99,9998 | 109,9998 | 99,9998 | 6 |
| 2014 01 30 | Thursday | 99,9999 | 109,9998 | 99,9999 | 5 |
| 2014 01 31 | Friday | 99,9999 | 109,9999 | 99,9999 | 4 |
| 2014 02 03 | Monday | 100,0000 | 110,0000 | 100,0000 | 1 |
| 2014 02 04 | Tuesday | 100,0000 | 110,0000 | 100,0000 | Notes start date |

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SEB
Annex 2

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

	Address	Business hours
KAUSCibranch	Babryoski 82/Akarsulog, 15, HT 6250 Kaunas	1 - 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
Aletsoto 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, HT 39425 Kaunas	1 - 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, HT 35500 Panevėžys	1 - IV 8.30 - 17.00 VI 9.00 - 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	Utemio 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. 12A, LT-91235 Klaipėda	1 - 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
Kretingas sub-branch	Biratės 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	Titzė g. 157, LT-76297 Šiauliai	1 - 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
VIENIAUS branch	Savanorių pr. 1, HT 03116 Vilnius	1 - 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	1 - IV 9.00 - 17.30 VI 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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SEB
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