Swedish Match — Capital/Financing Update 2017

Nov 8, 2017

FINAL TERMS

6November2017

SWEDISH MATCH AB (PUBL)

Issue of €200,000,000 1.20 per cent. Notes due 2025 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 21 September 2017 (the Offering Circular) which constitutes ^a base prospectus for the purposes of 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 fina! 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.comlexchange/news/market-news/ market-news home.html).

1.	Is su er :		Sw ed ish M ch A B ub i) (p at
2.	(i)	Se rie N be s um r:	42
	(ii )	ch be Tr eN an um r:	1
	(ii i)	D hi ch th N ill be at ot e on e es w w ol id ed d fo sin gl Se rie at an rm a e s: co ns	A lic ab le N ot pp
3.	Sp ifi ec	ed ci Cu Cu rr en cy or rr en es :	Eu (€ ) ro
4.	A in al A N te nt gg re ga m ou : om
	(i)	ch Tr an e:	€ 20 0. 00 0. 00 0
	(ii )	Se rie s:	€ 20 0, 00 0, 00 0
5.	Is Pr su e	ic of Tr ch e an e:	99 .5 76 of th A N in al A nt te nt pe r ce e gg re ga om m ou
6.	(i)	ifi ed in io Sp D at ec en om ns :	d in al € 10 0, 00 0 ul ti pl of € 1,0 00 in te an gr m es ex ce ss th f d in ci ud in €1 99 ,0 00 in N N to ot er eo up an g o es de fin iti fo ill de in io be is ed ith at ve rm w su w a no m n ab €1 99 ,0 00 ov e
	(ii )	C ai la tio A nt cu n m ou :	€ 1,0 00
7.	(i)	Is D at su e e:	8 N be 20 17 ov em r
	(ii )	C t D In te st at om m en ce m en e: re	Is D at su e e
8.	M it at ur	D at y e:	10 N be 20 25 ov em r
9.	In te st re	B is as :	1.2 0 . F ix ed R nt at pe r ce e (s h 14 be lo ) ee pa ra gr ap w

10	R ed em	io B is pt n as :	Su bj ha d el la tio t to rty ec an pu rc se an ca nc n or ea y de io th N ill be de ed th pt ot re m n, e es w re em on e th ei in al M ity D 10 0 of at at at nt ur e pe r ce r no m nt am ou
11	C ha ng e	of In B is te st re as :	N A tic ab ot te pp
12	Pu t/C al	l O io pt ns :	C ha of C l Pu tro t ng e on Is Ca ll su er (s hs 17 d 19 be lo ) ee pa ra gr ap an w
13	D at e ob in ed ta	rd al fo is of B N ot oa ap pr ov r su an ce es :	20 17 16 fe br ua ry
PR O V IS IO N S R E L A T IN G T O IN T E R E ST (I F A N Y ) PA Y A B LE
14	fi d R xe	N Pr is io at ot e e ov ns	A lic ab le pp
	(i)	e( s) of R In at te st re :	1.2 0 bl in ch nt pe r ce pe r an nu m pa ya e ar re ar on ea In Pa t D at te st re ym en e
	(ii )	In Pa t D e( s) te st at re ym en :	be in ch ci 10 N 10 ov em r ea ye ar co m m en ng on , be 20 18 d in cl ud in th ity N M to at ov em r up an g e ur , D at e
			Th ill be lo fir (th lo fir st st er e w a ng co up on e ng in of th rio d fr d ) t co up on re sp ec e pe om an , in cl ud in th In C D bu te st t at to t g, e re om m en ce m en e , cl ud in be 10 N r2 01 8 ex g, ov em
	(ii i)	fi d C A (s ): nt xe ou po n m ou	€ 12 00 C al la tio A (o th th in nt cu n er an pe r m ou of th lo fir hi ch t st to e ng co up on w re sp ec as se e , , ite (iv ) be lo ) m w
	(iv )	B ke A (s ): nt ro n m ou	C al la tio € 12 .07 A in of th nt t cu n pe r m ou re sp ec e , lo fir bl th In Pa st te st t ng co up on pa ya e on e re ym en , D fa lli 10 N be r2 01 8 at e ng on ov em

• (v) Day Count fraction: Actual/Actuat (ICMA)
• (vi) Determination Date(s): 10November in each year
• 15.floating Rate Note Provisions Not Applicable
• 1. ZeroCoupon Note Provisions Not Applicable

PROVISIONSRELATING TO REDEMPTION

17	Is Ca tt su er		lic ab le A pp
	(i)	O io l R ed io D e( s) pt pt at na em n :	A B in D (a de fin ed in C di tio 5( b) ) ny us es s ay s on n fr d in ci ud in 10 A 20 25 bu cl ud in t to t om an g ug us ex g th ity M D at at e ur e
	(ii )	O io l R ed io A pt pt nt na em n m ou	€ 1,0 00 C al la tio A nt cu n m ou pe r
	(ii i)	If de ab le in rt re em pa	N A lic ab le ot pp

18	Pu In sto t ve r	A tic ab le N ot pp
19	C ha of C l Pu tro t ng e on	A lic ab le pp
20	Fi l R ed io A pt nt na em n m ou	ai la tio € 1,0 00 C A nt pe r cu n m ou
21	rl ed io A of ch N bl Ea R pt nt ot e pa ya e on y em n m ou ea de io fo tio of pt ta t re m n r xa n re as on s or on ev en de fa ul t:	€ 1,0 00 C al la tio A nt pe r cu n m ou

GENERAL PROVISIONS APPLICABLE TO THE NOTES

1. Form of Notes Bearer Notes

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

Notes shall not be physically delivered in Belgium, excep^t to ^a clearing system, ^a depository or other institution for the purpose of their immobilisation in accordance with articie 4 of the Betgian Law of 14 December 2005.

1. Additional Financial Centre(s) Not Applicable

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

Signed on behaif of Swedish Match AB (pub!):

Du1yautIé3 ^L PtNidrbtg/"

PART B-OTHER INFORMATION

LISTINGAND ADMISSION TO TRADING

(i)	Li sti d A dm is si di to tra ng an on ng :	A lic io ha be ad by th (o its Is at pp n s en m e e su er r on di th be ha tf) fo th N be ad itt ed tra ot to to ng e r e es m on Lo nd St k Ex ch 's la d ke d te t on oc an ge re gu m ar an lis tin th O ff ic ia l Li of th U K Li sti st e ng g on e A ho rit ith ef fe fr 8 N be 20 17 ut ct om ov em r y w
(ii )	tim of l la d ad is sio Es at to ta te to to e ex pe ns es re m n di tra ng :	£3 ,6 00
2.	R A TI N G S
	R in at gs	Th N be is ed ed be d: ot to ct to te e es su ar e ex pe ra
		dy In Se ic Lt d: B 2 M 's sto ve rs rv e aa oo
		St da rd Po 's Cr ed it M ke Se ic Eu & t an or ar rv es ro pe Li ite d: BB B m

Each of Moody's Investors Service Ltd and Standard & Poor's Credit Market Services Europe Limited is established in the European Union and is registered underRegulation (EC) No. 1060/2009 (as amended).

3. INTERESTS OF NATURAL ANDLEGAL PERSONS INVOLVED IN THE ISSUE

Save for any fees payabte to Deutsche Bank AG, London Branch (the Manager), so far as the Issuer is aware, no person involved in the issue of the Notes has an interest material to the offer. The Manager and its 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 affihiates in the ordinaiy course of business.

4.VIELD

5.

In di tio of ie ld ca n : y		1.2 56 nt pe r ce . p er an nu m
		Th ie ld is ic ul ed th th ba si Is D at at at e y ca e su e e on e s in di tio of th Is Pr ic It is of fu t tu e su e e. no an ca n re ie ld y
O PE R	A T IO N A L IN FO R M A T IO N
(i)	IS IN :	S1 71 53 28 8 X 76
(ii )	od C C om m on e:	17 15 32 87 6
(ii i)	A cl rin (s ) he th D TC ste ot ny ea g sy m r an , Eu cl B k S. A ./N .V d ro ea r an an C le B ki ci ét é str ar ea m an ng so an on ym e , d th le id tif ic io be r( s) nt at an e re va en n nu m :	N A lic ab le ot pp
(iv )	ad di tio l Pa in N d ad dr of na g am es an es se s y	A lic ab le N ot pp

Agent(s) (if any):

(v) Registrar: Not Applicable

6. DISTRIBUTION

(i) U.S. Selling Restrictions: Reg. ^S Compliance Category 2; TEFRA ^D

(ii) Prohibition of Sales to EEA Retail Not Applicable Investors: