Registration: Reg S Only; Comments: 09/30/2020 Volvo Car AB (publ) (VOVCAB) EUR500m size Reg S bearer green bond sr unsec notes due10/07/27 (7y). NCL (MWC) (MWC B+50bp) (3mo par call). Ba1/BB+ (negative/stable). Via BNPP/ING (B&D)/SEB joint active books (BNPP green structuring advisor). English law. List Lux. Coupon pays annual (act/act). Off EMTN programme. 100x1. Settles 10/07 (T+5). ISIN: XS2240978085. IPT: 2.875% area. Px guidance: 2.625% area (+/- 0.125%) WPIR. Launched: EUR500m at 2.50%. Priced: 2.50% at 100. +318bp vs DBR 05% 08/15/27 (ms+286). Oderbook was over EUR2bn (pre-rec, tight end of guidance). Did 1x1 investor calls 09/28-29 (netroadshow). Books went subject at 11:45am UKT. UOP: to finance/refinance Eligible Green Projects, assets and activities related to Battery Electric Vehicles as defined by Volvo Car’s Green Financing Framework (GFF) dated September 2020. A Second Party Opinion (SPO) on the GFF has been issued by Cicero Shades of Green rated Dark Green and with a score of Excellent for its governance procedures. Volvo Car’s GFF and the SPO are available on Volvo Car’s website (https://investors.volvocars.com/en/debt-information/green-financing). Biz: designs, develops, manufactures, markets and sells a range of premium cars, including sedans, wagons, cross country vehicles and SUVs. It is a sub of Zhejiang Geely Holding Group. HQ: Gothenburg, Sweden.;