Multilayer ceramic electronic component and board having the same

A multilayer ceramic electronic component comprising:

• a ceramic body including a plurality of dielectric layers stacked in the ceramic body in a thickness direction of the ceramic body;
• a plurality of first and second internal electrodes disposed in the ceramic body to be alternately exposed through both end surfaces of the ceramic body in a length direction of the ceramic body with each of the dielectric Dyers interposed between the first and second internal electrodes;
• first and second external electrodes including front portions covering both end surfaces of the ceramic body in the length direction, respectively, and connected to the first and second internal electrodes, and band portions extended from the front portions and covering portions of a circumferential surface of the ceramic body;
• first and second terminal electrodes respectively including an upper horizontal portion disposed below a lower surface of the band portion, a lower horizontal portion opposing the upper horizontal portion in the thickness direction, a lower vertical portion connecting one end of the upper horizontal portion and one end of the lower horizontal portion to each other and positioned outwardly of an edge of the band portion in the length direction, and an upper vertical portion extended from an other end of the upper horizontal portion to an upper side of the upper horizontal portion;
• and first and second conductive adhesive layers disposed between the first and second external electrodes and the first and second terminal electrodes, respectively;
• and connecting the first and second external electrodes and the first and second terminal electrodes to each other, respectively, wherein a groove portion of the terminal electrode is recessed inwardly in the ceramic body in the length direction, wherein the groove portion of the terminal electrode is disposed directly below the lower surface of the band portion of the external electrode, and wherein the upper horizontal portions of the first and second terminal electrodes are disposed to be spaced apart from the lower surfaces of the band portions of the first and second external electrodes.