Swedish Match — Capital/Financing Update 2015

Jun 8, 2015

FINAL TERMS

5 June 2015

SWEDISH MATCH AB (pubi)

Issue of SEK 500,000,000 1.450 per cent. fixed Rate Notes duc 9 June 2020 under the €1,500,000,000 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 26 August 2014 (the Offering Circular) which constitute ^a base prospectus for the purposes of Directive 2003/71/EC as amended (which inciudes 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 Articie 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 ^a regulatory information service (www.londonstockexchange.com!exchange/news/market-news/market news-home.html).

1.	Is su er :		Sw ed is h ch A B ( bl ) M at pu
2.	(i ri be ) Se N es um r:		36
	(ii )	he N be T ra nc um r:	1
	(i ii )	hi ch th N ill be D ot at e on e es w w si le ol id ed d fo at ng co ns an rm a Se ri es :	li bl N A ot pp ca e
3.	C C ie S ci fi ed ur re nc or ur re nc s: pe y		ed is h Sw K (" SE K " ) ro na
4.	A N in al A te nt gg re ga om m ou :
	(i )	he T ra nc :	SE K 50 0 ,0 00 ,0 00
	(ii )	Se ri es :	SE K 50 0 ,0 00 ,0 00
5.	of T he Is P su e ra nc : nc e		99 .8 56 th of A nt te pe r e gg re ga ce N in al A nt om m ou
6.	(i )	ci fi ed in io S D at en om ns : pe	SE K 1 ,0 00 ,0 00
	(ii )	C ai la ti A nt cu on m ou :	SE K 1 ,0 00 ,0 00
7.	(i )	Is D at su e e:	20 15 9 Ju ne

	(ii )	In C D te st t at re om m en ce m en e:	Is D at su e e
8.	M it D at at ur y e:		9 20 20 Ju ne
9.	In B is te st re as :		ix ed 1. 45 0 F R nt at pe r ce e (s h 14 be lo ) ee pa ra gr ap w
10	ed R em	io B is pt n as :	Su b j e ha d el la ti ct to an y pu rc se an ca nc on rl de io th N ill be pt ot or ea y re m n, e es w de ed th it 10 0 M D at at at re em on e ur e y of th ei in al nt nt pe r ce r no m am ou
11	C ha ng	of B is In te st e re as :	N A li bl ot pp ca e
12	/C al P ut	l O io pt ns :	C ha of C ol Pu tr t ng e on (s h 19 be lo ) ee pa ra gr ap w
13	D B at e ob in ta	al fo is of rd N ot ap pr ov r su an ce es oa ed :	li bl N A ot pp ca e

PROVISIONS RELATING TO INTEREST (if ANY) PAYABLE

14	F ix ed R	N Pr is io at ot e e ov ns	A li bl pp ca e
	(i )	of In R e( s) te st at re :	1. 45 0 bl in nt pe r ce pe r an nu m pa ya e ch In P D te st t at ar re ar on ea re ay m en e
	(ii )	e( s) In P D te st t at re ay m en :	Ju in ch fr d in cl ud in 9 9 ne ea ye ar om an g , Ju 20 16 d in ci ud in th to ne up an g e M it D at at ur y e
	(i ii )	ix ed F C A (s ): nt ou po n m ou	SE K 14 ,5 00 C ai la ti A nt pe r cu on m ou
	(iv )	ke A (s ): B nt ro n m ou	N A li bl ot pp ca e
	(v )	ti D C Fr nt ay ou ac on :	30 /3 60 ad ju ed st un ,
	(v i )	D in io D e( s) et at at er m n :	A li bl N ot pp ca e
15	lo in is io F R N Pr at at ot g e e ov ns		N A li bl ot pp ca e
16	C N Pr is io Z ot er o ou po n e ov ns		A li bl N ot pp ca e
P R O V R E D E	IS IO N S IO M P T	R E L A T IN G T O N
17	al l Is C su er		A li bl N ot pp ca e
18	In Pu st t: ve or		N A li bl ot pp ca e
19	C ha of C ol Pu tr t: ng e on		A li bl pp ca e

20	F in al R ed io A pt nt em n m ou :	SE K 1 ,0 00 ,0 00 C ai la ti A nt pe r cu on m ou
21	l ed io of ch E R A N pt nt ot ar em n m ou ea e y bl de io fo ti pt ta on re m n r xa on pa ya e of de fa ul t t: re as on s or on ev en	SE K 1 ,0 00 ,0 00 C ai la ti A nt pe r cu on m ou

GENERAL PROVISIONS APPLICABLE TO THE NOTES

1. Form of Notes: Bearer Notes:

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

1. Additional Financial Centre(s): Not Applicable

2. Talons for future Coupons to be attached No to Definitive Bearer Notes:

Signed ^o haif f Swedish Match AB (pubi):

By Duty authorised frt6tE-t.4VLE 11Eifr"NJ

PART B -OTHER INFORMATION

LISTING AND ADMISSION TO TRÄDING

related to admission to trading:

• (i) Listing and Admission to Application is expected to be made by the trading: Issuer (or on its behalf) for the Notes to be admitted to trading on the London Stock Exchange's regulated market and listing on the Official List of the UK Listing Authority with effect from the Issue Date. (ii) Estimate of total expenses £l,750

• RATINGS

Ratings: The Notes to be issued are expected to be rated:

Standard & Poor's Credit Market Services Europe Limited: BBB

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

Save for any fees payable to Skandinaviska Enskilda Banken AB (pubi) (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 afffliates have engaged, and may in the future engage, in investment banking andlor commercial banking transactions with, and may perform other services for, the Issuer and its affihiates in the ordinary course of business.

1. YIELD (fixed Rate Notes Only)

Indication of yield: 1.480 per cent. per annum

The yield is calculated at the Issue Date on the basis of the Issue Price. It is not an indication of fliture yield.

5. OPERATIONAL INFORMATION

• (i) ISIN: XS1244090129
• (ii) Common Code: 124409012
• (iii) Any clearing system(s) other Not Applicable than DTC, Euroclear Bank S.A./N.V. and Clearstream

B ki an ng ,		ci ét é so	an on ym e	d an
th le e re		nt va	id ti fi en ca	ti on
be r( s) nu m :

• (iv) Names and addresses of Not Applicable additional Paying Agent(s) (if any):
• (v) Registrar: Not Applicable

6. DISTRIBUTION

U.S. Selling Restrictions: TEFRA D