Bond Générale Société 15% ( XS1690134116 ) in USD

Issuer Générale Société
Market price 100 %  ⇌ 
Country  France
ISIN code  XS1690134116 ( in USD )
Interest rate 15% per year ( payment 2 times a year)
Maturity 01/10/2024 - Bond has expired



Prospectus brochure of the bond Societe Generale XS1690134116 in USD 15%, expired


Minimal amount 1 000 USD
Total amount 100 000 USD
Detailed description Société Générale is a major French multinational banking and financial services corporation.

The Bond issued by Générale Société ( France ) , in USD, with the ISIN code XS1690134116, pays a coupon of 15% per year.
The coupons are paid 2 times per year and the Bond maturity is 01/10/2024









These Final Terms do not constitute Final Terms pursuant to Article 5 (4) of Directive
2003/71/EC, as amended, and will not be filed with any competent authority.









FINAL TERMS


relating to


COMMERZBANK AKTIENGESELLSCHAFT


Further USD 200,000 Structured Notes of 2017/2024
(ISIN XS1690134116)


issued under the

Notes, Certificates and Warrants Programme

of

COMMERZBANK AKTIENGESELLSCHAFT



Date of the Final Terms: 2 November 2017





ISIN XS1690134116
This document constitutes the Final Terms relating to the issue of notes under the Notes,
Certificates and Warrants Programme of Commerzbank Aktiengesel schaft (the "Programme") and
shal be read in conjunction with the Information Memorandum dated 8 June 2017 as supplemented
from time to time. Full information on the Issuer and the issue of the notes is only available on the
basis of the combination of these Final Terms and the Information Memorandum and supplements
thereto, if any. The Information Memorandum and any supplements wil be available free of charge
at the head office of the Issuer, Kaiserstraße 16 (Kaiserplatz), 60311 Frankfurt am Main, Federal
Republic of Germany and on the following website of Commerzbank Aktiengesellschaft:
https://fim.commerzbank.com. These Final Terms are available free of charge at the head office of
the Issuer, Kaiserstraße 16 (Kaiserplatz), 60311 Frankfurt am Main, Federal Republic of Germany.


I.
Terms

The Programme Terms and Conditions (the "Programme Terms and Conditions") shall be
amended by incorporating the terms of the Final Terms, and by deleting all provisions not applicable
to the respective issue of notes (the "Consolidated Terms") in the form attached hereto as
Annex 1. The Consolidated Terms shal replace the Programme Terms and Conditions in their
entirety. If and to the extent the Consolidated Terms deviate from the Programme Terms and
Conditions, the Consolidated Terms shal prevail.


II.
Other Conditions

Issue Date
Tranche 1: 29 September 2017
Tranche 2: 2 November 2017

Issue Currency
United States dol ar ("USD")

Issue Price
16.75%

Issue Volume
Tranche 1: USD 100,000
Tranche 2: USD 200,000

Denomination
USD 1,000

WKN
Temporary WKN: CB94U3
Permanent WKN: CB93YX

Common Code
Temporary Common Code: 170955927
Permanent Common Code: 169013411

ISIN
Temporary ISIN: XS1709559279
Permanent ISIN: XS1690134116

Listing
Not Applicable

Listing
Euro MTF market of the Luxembourg
Stock Exchange

Reasons for the offer, estimated net proceeds

and total expenses

(i) Reasons for the offer
The net proceeds from the issue of notes
will be applied by the Issuer for its
general corporate purposes, which


ISIN XS1690134116
include making a profit.

(i ) Estimated net proceeds
USD 33,500

(i i) Estimated total expenses
EUR 2,600

Interest
Structured
Notes/Redemption
A description of the Commerzbank Gold
Structured Notes and Reverse Convertible
15% RC ER Index (the "Index") to which
Notes only - performance of and other
the redemption payment under the Notes
information
concerning
the
Under-
is linked is attached to the Terms and
lying/Formula(e)/other variable, explanation of
Conditions contained herein.
effect on value of investment and associated

risks
Further information on the Index can be
found on Bloomberg ticker CBKIGD15
Index.

Applicable TEFRA provisions
D Rules




ISIN XS1690134116
Annex 1
Consolidated Terms


The following terms and conditions (the "Terms and Conditions") apply to the notes issued as
Series No. N14165 and Tranche No. 2 of that series under the Notes, Certificates and Warrants
Programme of Commerzbank Aktiengesellschaft (the "Programme").


§ 1
FORM

1.
The structured notes (the "Securities") issued by Commerzbank Aktiengesellschaft,
Frankfurt am Main, Federal Republic of Germany (the "Issuer") will initial y be represented by
a temporary global bearer note (the "Temporary Global Security") which wil be exchanged
not earlier than 40 days after the issue date against a permanent global bearer note (the
"Permanent Global Security", together with the Temporary Global Security the "Global
Security"). The Securities are issued in United States dollar ("USD") (the "Issue Currency")
in the denomination of USD 1,000 (the "Denomination").


The Temporary Global Security and the Permanent Global Security shal be deposited with
Deutsche Bank AG, Frankfurt am Main, as common depositary for Clearstream Banking S.A.,
Luxembourg and Euroclear Bank S.A./N.V., Brussels, as operator of the Euroclear System
(together the "Clearing System"). The exchange shall only be made upon certification to the
effect that, subject to certain exceptions, the beneficial owner or owners of the Securities
represented by the Temporary Global Security are not U.S. persons.

2.
Definitive Securities will not be issued. The right of the holders of Securities (the
"Securityholders") to delivery of definitive Securities is excluded. The Securityholders shall
receive co-ownership participations in or rights with respect to the Global Security which are
transferable in accordance with applicable law and the rules and regulations of the Clearing
System. In securities clearing transactions, the Securities are transferable in units of one
Security or integral multiples thereof.

3.
The Temporary Global Security and the Permanent Global Security shall bear the hand-
written signatures of two authorised officers of the Issuer.


§ 2
DEFINITIONS

For the purposes of these Terms and Conditions, the following definitions shall apply (subject to an
adjustment in accordance with § 7):

"Banking Day" has the meaning given to it in the Index Description.

"BGB" means the German Civil Code (Bürgerliches Gesetzbuch).

"Discontinuation of the Index" has the meaning given to it in the Index Description.

"Extraordinary Event" means

(a)
the Discontinuation of the Index; or

(b)
a Suspension of the Calculation of the Index over a period of 10 Banking Days; or

(c)
any other event that is economically equivalent to the before-mentioned events with
regard to their effects.


ISIN XS1690134116
"Index" means the Commerzbank Gold 15% RC ER Index (Bloomberg ticker CBKIGD15 Index) as
determined and published by Commerzbank AG (the "Index Calculation Agent).


The concept of the Index is detailed in the description of the Index which is attached to these
Terms and Conditions and forms an integral part of these Terms and Conditions (the "Index
Description").

"Index Calculation Date" has the meaning given to it in the Index Description.

"Index Level" has the meaning given to it in the Index Description.

"Initial Price" means a level of the Index of 995.28.

"Maturity Date" means the later of (i) 1 October 2024, subject to postponement in accordance with
§ 6 paragraph 3 and (b) in the case of a postponement of the Valuation Date in accordance
with the provisions contained in the definition of "Valuation Date", the fifth Payment Business
Day following the Valuation Date so postponed.

"Payment Business Day" means a day (other than a Saturday or a Sunday) on which commercial
banks are open for general business (including dealings in foreign exchange and foreign
currency deposits) in New York and on which the Clearing System settles payments in the
Issue Currency.

"Suspension of the Calculation of the Index" has the meaning given to it in the Index Description.

"Valuation Date" means 20 September 2024.


If the Valuation Date is not an Index Calculation Date, the Valuation Date shal be postponed
to the next following day that is an Index Calculation Date.


If on the Valuation Date a Suspension of the Calculation of the Index occurs, the Valuation
Date shal be postponed to the next following Index Calculation Date on which a Suspension
of the Calculation of the Index does not occur.


§ 3
INTEREST

The Securities shal not bear any interest.


§ 4
MATURITY

Subject to the provisions contained in § 5, the Securities shall be redeemed on the Maturity Date at
an amount in the Issue Currency (the "Redemption Amount") determined by the Issuer by
applying the following formula:

INDEX

RA NMa
FINAL

x ;
0

1
INDEXINITIAL


where

RA
=
Redemption Amount per Security



N
=
Denomination





ISIN XS1690134116
IND
F
EX INAL
=
Index Level on the Valuation Date



IND
I
EX NITIAL
=
Initial Price


§ 5
EARLY REDEMPTION

1.
Except as provided in § 8, the Issuer shall not be entitled to redeem the Securities prior to the
Maturity Date.

2.
The Securityholders shal not be entitled to cal for redemption of the Securities prior to the
Maturity Date.

3.
The Securities shal not be terminated automatically and redeemed prior to the Maturity Date.


§ 6
PAYMENTS

1.
All amounts payable under these Terms and Conditions shall be rounded to the nearest
USD 0.01 (USD 0.005 shal be rounded up).

2.
All amounts payable pursuant to these Terms and Conditions shall be paid to the Paying
Agent for transfer to the Clearing System or pursuant to the Clearing System's instruction for
credit to the relevant accountholders on the dates stated in these Terms and Conditions. Pay-
ment to the Clearing System or pursuant to the Clearing System's instruction shal release
the Issuer from its payment obligations under the Securities in the amount of such payment.

Payments on Securities represented by a Temporary Global Security shall only be effected
upon due certification in accordance with § 1 paragraph 1.

3.
If any payment with respect to a Security is to be made on a day that is not a Payment Busi-
ness Day, payment shall be made on the next following Payment Business Day. In this case,
the Securityholders shal neither be entitled to any payment claim nor to any interest claim or
other compensation with respect to such delay.

4.
All payments are subject in all cases to any applicable fiscal or other laws, regulations and
directives and subject to the provisions contained in § 10.


§ 7
ADJUSTMENTS

Upon the occurrence of an Extraordinary Event which has a material effect on the Index or the level
of the Index, the Issuer shall make any such adjustments to the Terms and Conditions as are
necessary to account for the economic effect of the Extraordinary Event on the Securities and to
preserve, to the extent possibe, the economic profile that the Securities had prior to the occurrence
of the Extraordinary Event in accordance with the following provisions (each an "Adjustment"). The
Issuer shal decide in its reasonable discretion (bil iges Ermessen) (§ 315 BGB) whether an Extra-
ordinary Event has occurred and whether such Extraordinary Event has a material effect on the
Index or the level of the Index.

(a)
An Adjustment may result in:

(i)
the replacement of the Index by another index (a "Replacement"),


ISIN XS1690134116
and/or

(i )
increases or decreases of specified variables and values or the amounts payable
under the Securities taking into account:

(aa) the effect of an Extraordinary Event on the level of the Index;

(bb) the diluting or concentrative effect of an Extraordinary Event on the theoretical
value of the Index; or

(cc) any cash compensation or other compensation in connection with a Replace-
ment;

and/or

(i i)
consequential amendments to the provisions of the Terms and Conditions that are
required to fully reflect the consequences of the Replacement.

(b)
Any reference made to the Index in these Terms and Conditions shal , if the context so
admits, then refer to the replacement index. All related definitions shal be deemed to be
amended accordingly.

(c)
Adjustments shal take effect as from the date (the "Cut-off Date") determined by the Issuer
in its reasonable discretion (billiges Ermessen) (§ 315 BGB).

(d)
Adjustments as well as their Cut-off Date shal be notified by the Issuer in accordance with
§ 15.

(e)
Any Adjustment in accordance with this § 7 does not preclude a subsequent termination in
accordance with § 8 on the basis of the same event.


§ 8
EXTRAORDINARY TERMINATION RIGHTS OF THE ISSUER

1.
Upon the occurrence of an Extraordinary Event, the Issuer may freely elect to terminate the
Securities prematurely instead of making an Adjustment. In the case that an Adjustment
would not be sufficient to preserve the economic profile that the Securities had prior to the
occurrence of the Extraordinary Event, the Issuer shall terminate the Securities prematurely;
the Issuer shall decide in its reasonable discretion (billiges Ermessen) (§ 315 BGB) whether
this is the case.

2.
If the Issuer and/or its Affiliates are, even following economically reasonable efforts, not in the
position (i) to enter, re-enter, replace, maintain, liquidate, acquire or dispose of any Hedging
Transactions or (i ) to realize, regain or transfer the proceeds resulting from such Hedging
Transactions (the "Hedging Disruption"), the Issuer may freely elect to terminate the
Securities prematurely. The Issuer shall decide in its reasonable discretion (billiges
Ermessen) (§ 315 BGB) whether a Hedging Disruption has occurred.


The Issuer may also freely elect to terminate the Securities prematurely if (i) due to the
adoption of or any change in any applicable law or regulation (including any tax law) or (i )
due to the promulgation of or any change in the interpretation by any competent court,
tribunal or regulatory authority (including any tax authority) that (A) it has become il egal to
hold, acquire or dispose of any index component or (B) it wil incur materially increased costs
in performing the Issuer's obligation under the Securities (including due to any increase in tax
liability, decrease in tax benefit or other adverse effect on its tax position) (the "Change in
Law"). The Issuer shal decide in its reasonable discretion (bil iges Ermessen) (§ 315 BGB)
whether a Change in Law has occurred.


ISIN XS1690134116

3.
Any extraordinary termination of the Securities shal be notified by the Issuer in accordance
with § 15 within fourteen Payment Business Days following the occurence of the relevant
event (the "Extraordinary Termination Notice"). The Extraordinary Termination Notice shal
designate a Payment Business Day as per which the extraordinary termination shall become
effective (the "Extraordinary Termination Date") in accordance with the following pro-
visions. Such Extraordinary Termination Date shal be not later than seven Payment Busi-
ness Days following the publication of the Extraordinary Termination Notice.

4.
If the Securities are called for redemption, they shal be redeemed at an amount per Security
that is equivalent to their fair market value minus any expenses actually incurred by the
Issuer under transactions that were required for winding up the Hedging Transactions (the
"Extraordinary Termination Amount"). The Issuer shall calculate the Extraordinary
Termination Amount in its reasonable discretion (billiges Ermessen) (§ 315 BGB) by taking
into account prevailing market conditions and any proceeds realised by the Issuer and/or any
of its affiliates (within the meaning of § 290 paragraph 2 German Commercial Code (HGB),
the "Affiliates") in connection with transactions or investments concluded by it in its
reasonable commercial discretion (vernüftiges kaufmännisches Ermessen) for hedging
purposes in relation to the assumption and fulfilment of its obligations under the Securities
(the "Hedging Transactions").

5.
The Issuer shal pay the Extraordinary Termination Amount to the Securityholders not later
than on the tenth Payment Business Day following the Extraordinary Termination Date.


§ 9
FURTHER ISSUES OF SECURITIES; REPURCHASE OF SECURITIES

1.
The Issuer reserves the right to issue from time to time without the consent of the
Securityholders additional tranches of securities with substantial y identical terms, so that the
same shal be consolidated to form a single series and increase the total volume of the
Securities. The term "Securities" shal , in the event of such consolidation, also comprise such
additional y issued securities.

2.
The Issuer may at any time purchase Securities in the market or otherwise. Securities
repurchased by or on behalf of the Issuer may be held by the Issuer, re-issued, resold or
surrendered to the Paying Agent for cancellation.


§ 10
TAXES

Payments in respect of the Securities shall only be made after (i) deduction and withholding of
current or future taxes, levies or governmental charges, regardless of their nature, which are
imposed, levied or col ected (the "Taxes") under any applicable system of law or in any country
which claims fiscal jurisdiction by or for the account of any political subdivision thereof or
government agency therein authorised to levy Taxes, to the extent that such deduction or
withholding is required by law and (i ) any withholding or deduction required pursuant to an
agreement described in Section 1471(b) of the U.S. Internal Revenue Code of 1986 (the "Code") or
otherwise imposed pursuant to Sections 1471 through 1474 of the Code, any regulations or
agreements thereunder, any official interpretations thereof, or any law implementing an
intergovernmental approach thereto. The Issuer shal report on the deducted or withheld Taxes to
the competent government agencies.






ISIN XS1690134116
§ 11
STATUS

The obligations under the Securities constitute direct, unconditional and unsecured (nicht dinglich
besichert) obligations of the Issuer and rank at least pari passu with al other unsecured and un-
subordinated obligations of the Issuer (save for such exceptions as may exist from time to time
under applicable law).


§ 12
PAYING AGENT

1.
Commerzbank Aktiengesellschaft, main office, Kaiserstraße 16 (Kaiserplatz), 60311 Frankfurt
am Main, Federal Republic of Germany, shal be the paying agent (the "Paying Agent").

2.
The Issuer shal be entitled at any time to appoint another bank of international standing as
Paying Agent. Such appointment and the effective date shal be notified in accordance with
§ 15.

3.
The Paying Agent is hereby granted exemption from the restrictions of § 181 BGB and any
similar restrictions of the applicable laws of any other country.


§ 13
TERMINATION BY THE SECURITYHOLDER

1.
Each Securityholder is entitled to declare its Securities due and to require the redemption of
its Securities pursuant to paragraph 2 if:

(a)
the Issuer is in default for more than 30 days in the payment of any amount due under
these Terms and Conditions, or

(b)
the Issuer violates any other obligation under these Terms and Conditions, and such
violation continues for 60 days after receipt of written notice thereof from the respective
Securityholder, or

(c)
the Issuer is wound up or dissolved whether by a resolution of the shareholders or
otherwise (except in connection with a merger or reorganisation in such a way that all
of the assets and liabilities of the Issuer pass to another legal person in universal
succession by operation of law), or

(d)
the Issuer ceases its payments and this continues for 60 days, or admits to be unable
to pay its debts, or

(e)
any insolvency proceedings are instituted against the Issuer which shall not have been
dismissed or stayed within 60 days after their institution or the Issuer applies for the
institution of such proceedings, or offers or makes an arrangement for the benefit of its
creditors, or

(f)
in the case of a substitution of the Issuer within the meaning of § 14 paragraph 2 any of
the events set forth in sub-paragraphs (c) - (e) above occurs in respect of the
Guarantor.


The right to declare Securities due shal terminate if the circumstances giving rise to it have
been remedied before such right is exercised.

2.
The right to declare Securities due pursuant to paragraph 1 shal be exercised by a
Securityholder by delivering or sending by registered mail to the Paying Agent a written


ISIN XS1690134116
notice which shall state the principal amount of the Securities called for redemption and shal
enclose evidence of ownership reasonably satisfactory to the Paying Agent. Following such
declaration the Securities shal be redeemed at the early redemption amount (the "Early
Redemption Amount") which shal be calculated by the Issuer in its reasonable discretion
(billiges Ermessen) (§ 315 BGB) as the fair market value of the Securities at the date as
determined by the Issuer. Such date and the Early Redemption Amount shall be notified
directly to the relevant Securityholder. The rights arising from the Securities will terminate
upon the payment of the Early Redemption Amount.


§ 14
SUBSTITUTION OF THE ISSUER

1.
Any other company may assume at any time during the life of the Securities, subject to para-
graph 2, without the Securityholders' consent all the obligations of the Issuer under these
Terms and Conditions. Any such substitution and the effective date shall be notified by the
Issuer in accordance with § 15.


Upon any such substitution, such substitute company (hereinafter called the "New Issuer")
shal succeed to, and be substituted for, and may exercise every right and power of, the
Issuer under these Terms and Conditions with the same effect as if the New Issuer had been
named as the Issuer herein; the Issuer (and, in the case of a repeated application of this
§ 14, each previous New Issuer) shal be released from its obligations hereunder and from its
liability as obligor under the Securities.


In the event of such substitution, any reference in these Terms and Conditions to the Issuer
shal from then on be deemed to refer to the New Issuer.

2.
No such assumption shall be permitted unless


(a)
the New Issuer has agreed to assume all obligations of the Issuer under the Securities
pursuant to these Terms and Conditions;


(b)
the New Issuer has agreed to indemnify and hold harmless each Securityholder
against any tax, duty, assessment or governmental charge imposed on such
Securityholder in respect of such substitution;


(c)
the Issuer (in this capacity referred to as the "Guarantor") has unconditional y and
irrevocably guaranteed to the Securityholders compliance by the New Issuer with all
obligations under the Securities pursuant to these Terms and Conditions; and


(d)
the New Issuer and the Guarantor have obtained all governmental authorisations,
approvals, consents and permissions necessary in the jurisdictions in which the
Guarantor and/or the New Issuer are domiciled or the country under the laws of which
they are organised.

3.
Upon any substitution of the Issuer for a New Issuer, this § 14 shal apply again.


§ 15
NOTICES

Where these Terms and Conditions provide for a notice pursuant to this section, such notice shal
be published in the Federal Gazette (Bundesanzeiger) and, to the extent legally required, a leading
newspaper having general circulation in Luxembourg (which is expected to be the "Luxemburger
Wort") and on the website of the Luxembourg Stock Exchange (www.bourse.lu). The notice wil
become effective vis-à-vis the Securityholders through such publication unless the notice provides
for a later effective date.