Notice of Credit Event

Copenhagen, 2016-07-15 16:28 CEST (GLOBE NEWSWIRE) --

Notice of Credit Event

Notice in respect the following notes

  Kredit Alternativ 2019 (DK0030337241)

  Kredit Alternativ II 2019 (DK0030337670)

  Kreditbevis Europa HY 2020 (DK0030363080)

  Europa High Yield 2021 (DK0030368394)

  Kreditbevis Europa High Yield 2021 (DK0030368477)

  Kreditbevis Europa High Yield Interval 2021 (DK0030375845)

  issued under the Structured Note Programme

On 20 June 2016 ISDA’s (International Swaps and Derivatives Association) Determination Committee resolved that a Bankruptcy Credit Event has occurred in relation to Portugal Telecom International Finance B.V.

Based on the above, Nordea Bank Finland Plc has determined that a Credit Event under the Terms and Conditions of the above mentioned Notes has occurred in relation to Portugal Telecom International Finance B.V., which is a Reference Entity in the Notes. 

The Credit Event related to Portugal Telecom International Finance B.V. is the third Credit Event in relation to the Notes with ISIN code DK0030337670, DK0030337241 and DK0030363080 and the first Credit Event in relation to the Notes with ISIN code DK0030368394, DK0030368477 and DK0030375845. As a result of the Credit Event the Target Redemption Amount of the respective Notes will be reduced as per the table below, subject to any further Credit Events.

Capitalised terms used in this notice have the same meaning as in the Final Terms and the Base Prospectus for the Notes.

For further information regarding the determination of the Redemption Amount reference is made to the Final Terms.

Questions can be directed to Peter Kijne, Nordea Markets, telephone + 45 33 33 53 39.