Swedish Match — Capital/Financing Update 2013

May 15, 2013

SWEDISH MATCH AB (publ)

Issue of SEK 200,000,000 Floating Rate Notes due 15 February 2019 under the $61,500,000,000$ 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 7 November 2012 (the Offering Circular) which constitutes a base prospectus for the purposes of Directive 2003/71/EC as amended (which includes the amendments made by Directive 2010/73/EU to the extent that such amendments have been implemented in a relevant Member State of the European Economic Area) (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 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 regulatory information service $\overline{a}$ (www.londonstockexchange.com/exchange/news/market-news/market-news-home.html).

1.	Issuer:		Swedish Match AB (publ)
2.	(i)	Series Number:	33
	(ii)	Tranche Number:	$\mathbf{1}$
	(iii)	Date on which the Notes will be consolidated and form a single Series:	Not Applicable
3.		Specified Currency or Currencies:	Swedish krona ("SEK")
4.		Aggregate Nominal Amount:	SEK 200,000,000
		Tranche:	SEK 200,000,000
		Series:	SEK 200,000,000
5.		Issue Price of Tranche:	100.00 per cent. of the Aggregate Nominal Amount
6.	(a)	Specified Denominations:	SEK 1,000,000 and integral multiples of SEK 100,000 in excess thereof up to and including SEK 1,900,000. No Notes in definitive form will be issued with a denomination above SEK 1,900,000.
	(b)	Calculation Amount:	SEK 100,000
7.	(i)	Issue Date:	15 May 2013
	(ii)	Interest Commencement Date:	Issue Date

8.	Maturity Date:	Interest Payment Date falling in or nearest to February 2019
9.	Interest Basis:	3-month STIBOR $+$ 1.65 per cent. Floating Rate (see paragraph 14 below)
10.	Redemption Basis:	Subject to any purchase and cancellation or early redemption, the Notes will be redeemed on the Maturity Date at 100 per cent. of their nominal amount
11.	Change of Interest Basis:	Not Applicable
12.	Put/Call Options:	Change of Control Put (see paragraph 18 below)

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PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE

13.	Fixed Rate Note Provisions			Not Applicable
14.		Floating Rate Note Provisions		Applicable
	(i)	Specified Period(s)/Specified Interest Payment Dates: Date.		15 February, 15 May, 15 August and 15 November in each year commencing on 15 August 2013 up to and including the Maturity
	(ii)		Business Day Convention:	Modified Following Business Day Convention
	(iii)		Additional Business Centre(s):	Stockholm
	(iv)	Manner in which the Rate of Interest and Interest Amount is to be determined:		Screen Rate Determination
	(v)	Party responsible for calculating the Rate of Interest and Interest Amount (if not the Principal Paying Agent):		Principal Paying Agent
	(vi)	Screen Rate Determination:
		Reference Rate and Relevant Financial Centre:	Reference Rate: 3-month STIBOR
			Relevant Financial Centre: Stockholm
			Interest Determination Date(s)	Second Stockholm business day prior to the start of each Interest Period
			Relevant Screen Page:	Reuters screen SIDE page
	(vii)		ISDA Determination:	Not Applicable
	(viii)	Margin(s):		+ 1.65 per cent. per annum

	(ix)	Minimum Rate of Interest:	Not Applicable
	(x)	Maximum Rate of Interest:	Not Applicable
	(xi)	Day Count Fraction:	Actual/360
15.		Zero Coupon Note Provisions	Not Applicable
PROVISIONS RELATING TO REDEMPTION
16.	Issuer Call		Not Applicable
17.	Investor Put:		Not Applicable
18.	Change of Control Put:		Applicable
19.	Final Redemption Amount:		SEK 100,000 per Calculation Amount
20.	default:	Early Redemption Amount of each Note payable on redemption for taxation reasons or on event of	SEK 100,000 per Calculation Amount

GENERAL PROVISIONS APPLICABLE TO THE NOTES

$21.$ Form of Notes: Bearer Notes:

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

• 1. Additional Financial Centre(s):
• $23.$ Talons for future Coupons to be attached to Definitive Bearer Notes:

Stockholm

$\overline{N_0}$

Signed on behalf of Swedish Match/AB/(p By: .................................... Rer Anderberg/ PER MELKER

PART B - OTHER INFORMATION

$\mathbf{1}$ . LISTING AND ADMISSION TO TRADING

(i)	Listing and Admission to trading:	Application for admission to the official list and for admission to trading has been made to: The UK Listing Authority and the London Stock Exchange Date from which admission effective: on or about the Issue Date
(ii)	Estimate of total expenses related to admission to trading:	GBP 300
RATINGS
Ratings:		The Notes to be issued are expected to be rated:

Standard & Poor's Credit Market Services France SAS: BBB

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

Save for any fees payable to Nordea Bank Danmark A/S (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 their 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

6.

$2.$

Indication of yield:

Not Applicable

5. OPERATIONAL INFORMATION

	(i)	ISIN Code:	XS0931685779
	(ii)	Common Code:	093168577
	(iii)	Any clearing system(s) other than DTC, Euroclear Bank S.A./N.V. and Clearstream Banking, société anonyme the identification and relevant $number(s)$ :	Not Applicable
	(iv)	Names and addresses of additional Paying Agent(s) (if any):	Not Applicable
	(v)	Registrar:	Not Applicable
DISTRIBUTION
U.S. Selling Restrictions:			Reg. S Compliance (

Reg. S Compliance Category 2; TEFRA D