FINAL TERMS UNITED UTILITIES WATER FINANCE PLC

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Transcription:

3 October 201 7 FINAL TERMS UNITED UTILITIES WATER FINANCE PLC Issue of GBP 33,000,000 0.387 per cent. CPI Linked Notes due 5 October 2057 unconditionally and irrevocably guaranteed by UNITED UTILITIES WATER LIMITED under the EUR 7,000,000,000 Euro 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 15 November 2016 and the supplement to it dated 23 June 2017 which together constitute a base prospectus for the purposes ofthe Prospectus Directive (the "Offering Circular"). 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, the Guarantor 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 ofthe Regulatory News Service operated by the London Stock Exchange at http://www.londonstockexchange.com/news/marketnews/rns/rns.htm. 1. (a) Issuer: United Utilities Water Finance PLC Guarantor: United Utilities Water Limited 2. (a) Series Number: 63 Tranche Number: (c) Date on which the Notes will be consolidated and form a single Series: 3. Specified Currency or Pounds Sterling ("GBP") Currencies: 4. Aggregate Nominal Amount: (a) Series: GBP 33,000,000 Tranche: GBP 33,000,000 5. Issue Price: 100.00 per cent. of the Aggregate Nominal Amount 6. (a) Specified Denominations: GBP 100,000 and integral multiples ofgbp 1,000 in excess thereof up to and including GBP 199,000. No

{b) Calculation Amount for Notes in definitive form (and in relation to calculation of interest for Notes in global form see Conditions): Notes in definitive form will be issued with a denomination above GBP 199,000. GBP 1,000 7. (a) Issue Date: 5 October 2017 Interest Commencement Date: Issue Date 8. Maturity Date: 9. Interest Basis: 10. Redemption/Payment Basis: 11. Change of Interest Basis: 12. Put/Call Options: 5 October 2057 CPI Linked Interest (see paragraph 18 below) CPI Linked Redemption 13. (a) Status ofthe Notes: Senior, unsecured Date approval for issuance obtained: 19 September 201 7 14. Method of Distribution: Non-syndicated PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE 15. Fixed Rate Note Provisions: 16. Floating Rate Note Provisions: 17. Zero Coupon Note Provisions: 18. Index Linked Interest/Redemption Note Provisions: Applicable - Conditions 6 and 7 apply (a) Index: CPI 2

(c) (d) (e) (f) (g) (h) (i) Rate of Interest: Name and address of Calculation Agent: Specified Period( s )/Specified Interest Payment Dates: Business Day Convention: Additional Business Centre(s): Day Count Fraction: Base Index Figure: Index Figure applicable to: 0.387 per cent. per annum multiplied by the Index Ratio (in accordance with Condition 6.3). Citibank, N.A., London Branch Citigroup Centre, 25 Canada Square, Canary Wharf, London E 14 5LB Semi-annually in arrears on 5 April and 5 October in each year, commencing on 5 April 2018 and up to and including the Maturity Date. Following Business Day Convention Actual/Actual (ICMA) 103.27742 (j) t: 3 (k) (l) (m) Reference Gilt: Minimum Rate of Interest: Maximum Rate of Interest: PROVISIONS RELATING TO REDEMPTION 19. Notice periods for Condition 9.2: 20. Issuer Call: 21. Investor Put: 22. Final Redemption Amount: Nominal Amount, subject in the case of Condition 9.1 to indexation as provided in Condition 7.2.

23. Early Redemption Amount Nominal Amount, subject in the case of Condition payable on redemption for 9.2 and Condition 12 to indexation as provided in taxation reasons, indexation Condition 7.2. reasons or on event ofdefault: GENERAL PROVISIONS APPLICABLE TO THE NOTES 24. Form ofnotes: 25. New Global Notes ("NGN") I New Safekeeping Structure ("NSS"): 26. Additional Financial Centre(s): 27. Talons for future Coupons or Receipts to be attached to Definitive Notes: 28. Redenomination applicable: 29. Details Relating to Instalment Notes: Bearer Notes: Temporary Global Note exchangeable for a Permanent Global Note which is exchangeable for Definitive Notes only upon an Exchange Event. NGN Yes Redenomination not applicable DISTRIBUTION 30. (a) Ifsyndicated, names of Managers: Date ofagreement: 31. Ifnon-syndicated, name of relevant Manager: 32. Whether TEFRA D or TEFRA C rules applicable or TEFRA rules not applicable: 33. EEA Retail Investor Selling Restriction: The Royal Bank of Scotland pie (trading as NatWest Markets) (the "Manager") TEFRA D applicable Regulation S, Category 2 LISTING AND ADMISSION TO TRADING APPLICATION These Final Terms comprise the final terms required to list and have admitted to trading the issue of Notes described herein pursuant to the EUR 7,000,000,000 Euro Medium Term Note Programme established by United Utilities PLC and United Utilities Water Finance PLC, with 4

obligations under Notes issued by United Utilities Water Finance PLC unconditionally and irrevocably guaranteed by United Utilities Water Limited. Signed on behalf of the Issuer: By: ~--~ -- Duly authorised Signed on behalf of the Guarantor: By:...a..~..... Duly authorised

PART B- OTHER INFORMATION 1. LISTING (a) Listing: London Admission to trading: Application has been made for the Notes to be admitted to trading on the London Stock Exchange's regulated market with effect from the Issue Date. (c) Estimate oftotal expenses related GBP 1,750 (exclusive ofvat) to admission to trading: 2. RATINGS Ratings: The Notes to be issued are expected to be rated: "A3" by Moody's Investors Services Limited "A-" by Standard and Poor's Credit Market Services Europe Limited Each of Moody's Investors Services Limited and Standard and Poor's Credit Market Services Europe Limited is established in the European Union and is registered under Regulation (EC) No. 1060/2009 (as amended) (the CRA Regulation). 3. INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE Save for any fees payable to the Manager, so far as the Issuer is aware, no person involved in the issue ofthe 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 Issuers, the Guarantor and their affiliates in the ordinary course of business. 4. REASONS FOR THE OFFER, ESTIMATED NET PROCEEDS AND TOTAL EXPENSES (a) Reasons for the offer: See "Use of Proceeds" section of the Offering Circular 6

5. YIELD Indication ofyield: 0.387 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 future yield. 6. HISTORIC INTEREST RATES 7. OPERATIONAL INFORMATION (a) (c) (d) (e) lsin: Common Code: Any clearing system(s) other than Euroclear and Clearstream, Luxembourg and the relevant identification number(s): Delivery: Names and addresses of additional Paying Agent(s) (if any): XS1694666535 169466653 Delivery against payment