DUBAI - The National Bank of Kuwait launched $700 million Additional Tier 1 bonds on Thursday at 3.625%, a document showed.

It had given initial price guidance of about 4% for the bonds, which are non-callable for six years.

AT1 bonds, the riskiest debt instruments banks can issue, are designed to be perpetual in nature, but lenders can call them after a specified period.

Citi, HSBC, JPMorgan, NBK Capital, Standard Chartered and UBS arranged the deal.

(Reporting by Yousef Saba; Editing by Sherry Jacob-Phillips and Steve Orlofsky) ((Yousef.Saba@thomsonreuters.com; +971562166204))