Riyad Bank announces commencement of offer of U.S. dollar denominated Tier 1 Capital Sukuk

With reference to the announcement from Riyad Bank (the “Bank”) published on the website of the Saudi Stock Exchange (Tadawul) on 07/02/2022, relating to the intention of the Bank to issue U.S. dollar denominated Tier 1 capital sukuk (the “Sukuk”) through a special purpose vehicle and offering it to eligible investors in the Kingdom of Saudi Arabia and internationally, the Bank would like to announce the commencement of the offer of the Sukuk.

The amount and terms of offer of the Sukuk will be determined subject to the market conditions.

Offering start Date will be on 2022-02-09  and the end date will be on 2022-02-10.

The targeted class of the issuance: Institutional investors (qualified investors in the jurisdiction in which the offering will be made in accordance with the rules and regulations of such jurisdictions).

The Bank has mandated HSBC, Merrill Lynch International, Riyad Capital and Standard Chartered Bank as Joint Lead Managers & Bookrunners.

The Minimum Subscription shall be USD 200,000 and integral multiples of USD 1,000 in excess thereof.

Offer Price (Sukuk /Bonds): It is subject to market conditions.

Par Value: USD 200,000

Return (Sukuk /Bonds): It is subject to market conditions.

Maturity (Sukuk /Bonds): Perpetual

The Sukuk may be redeemed by the Bank in certain cases as detailed in the offering circular in relation to the Sukuk.

This announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities and is subject to the terms and conditions of the Sukuk. The Bank will announce any other relevant material developments in due course as required by the relevant rules and regulations.

The Sukuk may be sold in reliance on Regulation S under the US Securities Act of 1933, as amended.