New Issue: National Bank of Abu Dhabi prices $200 million puttable step-up floaters due 2017

By Christine Van Dusen

Atlanta, Nov. 23 – National Bank of Abu Dhabi PJSC priced a $200 million issue of floating-rate notes due in November 2017 at par, according to a company filing.

The notes will pay monthly interest beginning on Dec. 20, starting at one-month Libor plus five basis points for the first month and then stepping up each month by 5 bps until hitting Libor plus 60 for the Nov. 20, 2016 payment. Then it steps up to Libor plus 62 bps, 64 bps, 65 bps, 67 bps, 69 bps, 71 bps, 74 bps, 77 bps, 80 bps, 83 bps, 86 bps until reaching Libor plus 90 bps for the final payment.

The notes include a put option 100 days after the date on which the paying agent receives the exercise notice from the relevant holder.

Credit Agricole Corporate and Investment Bank is the manager.

Issuer:	National Bank of Abu Dhabi PJSC
Description:	Puttable floating-rate notes
Amount:	$200 million
Maturity:	Nov. 20, 2017
Price:	Par
Spread:	Starting at one-month Libor plus 5 basis points for the first month and then stepping up each month by 5 bps until hitting Libor plus 60 bps for the Nov. 20, 2016 payment. Then it steps up to Libor plus 62 bps, 64 bps, 65 bps, 67 bps, 69 bps, 71 bps, 74 bps, 77 bps, 80 bps, 83 bps, 86 bps until reaching Libor plus 90 bps for the final payment.
Put options:	100 days after the date on which the paying agent receives the exercise notice from the relevant holder
Pricing date:	Nov. 18
Settlement date:	Nov. 20
Manager:	Credit Agricole Corporate and Investment Bank
Distribution:	Regulation S

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