Obbligazione Jysk Kredit 0% ( DK0009397572 ) in DKK

Jysk Kredit

100 DKK ⇌

Danimarca

DK0009397572 ( in DKK )

01/07/2023 - Obbligazione è scaduto

Prospetto opuscolo dell'obbligazione Jyske Realkredit DK0009397572 in DKK 0%, scaduta

1 DKK

423 882 030 DKK

Jyske Realkredit è una società di mutui danese che offre una vasta gamma di prodotti di finanziamento immobiliare, tra cui mutui a tasso fisso e variabile, per privati e aziende.

The Obbligazione issued by Jysk Kredit ( Denmark ) , in DKK, with the ISIN code DK0009397572, pays a coupon of 0% per year.
The coupons are paid 1 time per year and the Obbligazione maturity is 01/07/2023

Jyske Realkredit A/S
Investor Relations
Email investors@

Klampenborgvej 205
Phone +45 45934593
jyskerealkredit.dk
2800 Kgs. Lyngby
Web jyskerealkredit.com
Bloomberg JYKRE

Translation from Danish. The Danish version prevails

Final Terms of May 3rd, 2019 for certain Bonds issued by Jyske Realkredit
The full prospectus for the Bonds consist of "Base Prospectus for covered bonds and mortgage bonds issued
by BRFkredit a/s", dated 1. February 2017, including any addenda to the said Base Prospectus as well as the
Final Terms outlined below. The Final Terms pertain only to the specific issuance(s) of SDO ("the Bonds")
as set forth in these Final Terms.

ISIN
DK0009397572
Series
422.B
Bond type
RO
Capital Centre
B
Currency
DKK
Name
422.B.Cb3 ju23 RF
Denomination
0,01
Opening date
10 May 2019
Closing date
30 April 2023 (last day for which the ISIN is open for issuance)
Expiry date
1 July 2023
Interest rate
The bonds carry a floating rate of interest.

The interest rate has been set at 0 % per annum until and including 30 June 2019.
The Bonds will no longer carry interest as of the payment date when the Bonds
are redeemed.

Definition of interest
The rate of interest on the bonds is set quarterly with effect as of 1. January,
rate
1. April, 1. July or 1. October, such as the 3-month CIBOR rate stated with four
decimals on the last banking day but four in December, March, June and Sep-
tember, respectively, multiplied by 365/360, after which a fixed margin is added
and the rate of interest rounded to two decimals.

If the 3-month CIBOR rate is no longer quoted or available, Jyske Realkredit
will determine the interest rate for the Bonds as mentioned above on the basis of
a similar 3-month money market indexation.

Interest Margin
To be determined at auction.
Interest Rate Cap/
Not applicable
Interest Rate Floor

Value at Redemption 100
due to negative inter-

est rate

Day-count conven-
Actual/actual per term.
tion
Side 1 af 9

Amortisation
The bonds are amortised by drawing at par parallel to the ordinary repayment of
the funded loans. Repayments may be made upon the choice of the borrower un-
der the annuity loan principle or the bullet loan principle; the latter method may,
however, be used for no longer than 10 years of the lifetime of the loan.
If the interest becomes negative in a payment period, bullet loans may have a re-
payment equivalent to the loan's negative interest.
The amortisation of the Bonds may vary due to recalculation of the repayments
at each determination of interest and based on exceptional repayments and termi-
nation of loans.
Please note that item 4.8 of the securities note in the base prospectus applies.
The Bonds will be finally redeemed no later than on the maturity date and are re-
deemed upon the Bonds' maturity date unless the Bonds are extended in accord-
ance with section 6 of the Danish Act on Mortgage Credit Loans and Mortgage
Credit Bonds etc.
Redemption dates
Quarterly on 1 January, 1 April, 1 July and 1 October.
Termination
Not applicable
Value date
In general, when the Bonds are traded, the value date is two banking days after
the trade is executed, however this rule may be derogated from.
Payments
Payments are due on the term dates 1 January, 1 April, 1 July and 1 October. If
the payment date is a Saturday, Sunday or bank holiday, the payment is due on
the first banking day in Denmark hereafter.
Subject to the rules
i)
Sales trigger: Yes
for statutory refi-
nancing
ii)
Interest trigger: No
Call option/Put op-
Not applicable
tion
Issuer
The Bonds are issued, offered and sold by Jyske Realkredit.
Listing/Trading
NASDAQ Copenhagen A/S
Place of registration
VP Securities A/S
Weidekampsgade 14
P.O. Box 4040
2300 Copenhagen S
Rating
AAA S&P
Costs for the buyers
Ordinary transaction costs incurred when trading with Jyske Realkredit, i.e. bro-
of the Bonds
kerage fees, price spread, etc.
Terms and Condi-
Together with the terms and conditions of the Base Prospectus for Mortgage
tions
Bonds and Covered Bonds issued by Jyske Realkredit with related addenda or
appendices, the present Final Terms shall constitute the terms and conditions for
the issued Bonds.
Side 2 af 9

Other Terms and
Not applicable.
Conditions
Declaration
Jyske Realkredit states:
a) that the Final Terms have been prepared in accordance with article 5 (4) of
Directive 2003/71/EC and must be read in connection with the Base Pro-
spectus including any addenda thereto.
b) that the Base Prospectus including any addenda has been published electron-
ically on Jyske Realkredit's web site www.jyskerealkredit.com
c) that the Base Prospectus, any addenda to the Base Prospectus and the Final
Terms must be read in order to obtain all information.
d) that the summary of the specific issue is attached as an appendix to the Final
Terms.

Kgs. Lyngby, on May 3rd, 2019
These Final Terms are signed in accordance with special authority given by Jyske Realkredit's Supervisory
Board:

Steen Jul Petersen

Søren Winkler
Afdelingsdirektør

Områdedirektør

Side 3 af 9

Bilag A. Summary
The summary is made up of disclosure requirements known as "elements". The elements are numbered in
sections A-E (A.1 - E.7).
This summary contains all the elements required to be included in a summary of the issue of this type of se-
curities and the issuer. Not all elements must be stated. Therefore the numbering of the elements may not be
consistent.
Even though an element may be required to be inserted in a summary of the issue of this type of securities
and the issuer, it is possible that no relevant information can be given regarding such element. In cases where
an element is not relevant to a prospectus, the summary states that the element is "not applicable".
Section A Introduction and warnings
A.1
Warnings
Jyske Realkredit draws the attention of prospective investors to the fact that:
This summary should be read as an introduction to the prospectus;
any decision to invest in the securities should be based on considera-
tion of the Base Prospectus as a whole
where a claim relating to the information contained in the Base
Prospectus is brought before a court, the plaintiff investor might, under
the national legislation, have to bear the costs of translating the pro-
spectus before the legal proceedings are initiated; and
civil liability attaches only to those persons who have tabled the
summary including any translation thereof, but only if the summary is
misleading, inaccurate or inconsistent when read together with the
other parts of the Base Prospectus or it does not provide, when read to-
gether with the other parts of the Base Prospectus, key information in
order to aid investors when considering whether to invest in such secu-
rities.
A.2
Financial
Jyske Realkredit expressly consents to the use of this Base Prospectus
intermedi-
for the resale or final placement of the Bonds through financial inter-
aries
mediaries,
The consent will be in force as long as this Base Prospectus is valid
i.e. up to 12 months from the date of approval subject to the prior revo-
cation, cancellation or replacement of this Base prospectus in which
case Jyske Realkredit will release a stock exchange announcement to
this effect.
Any conditions relating to the consent made to financial intermediaries
will be set out in the Final Bond Terms for the specific issue and the
attached summary for the specific issue.
If a financial intermediary uses this Base Prospectus to offer
Bonds, the financial intermediary is obliged to inform investors of
the terms and conditions for the offering at the time of the offer-
ing.
Financial intermediaries using this Base Prospectus are obliged to
state at their website that they use this Base Prospectus in accord-
ance with the related consent and its conditions.
Side 4 af 9

Section B Issuer
B.1
Legal name The name of the issuer is Jyske Realkredit A/S
and second-
ary names
B.2
The Is-
Jyske Realkredit A/S
suer's reg-
Klampenborgvej 205
istered of-
2800 Kgs. Lyngby
fice, legal
Jyske Realkredit is a limited liability company registered in Denmark, which
form and
operates its mortgage banking business in accordance with the Danish Mort-
registered
gage-Credit Loans and Mortgage-Credit Bonds etc. Act and other legislation
nationality
applicable at any given time to Danish mortgage banks. Jyske Realkredit is
subject to Danish law and to supervision by the Danish Financial Services Au-
thority.
B.4b
Recent
Not applicable; because Jyske Realkredit, at the date of this
trends
Base Prospectus, is not aware of any trends, uncertainty, requirements, obliga-
tions or events that may reasonably be expected to have a material impact on
Jyske Realkredit's prospects for the current financial year.
B.5
Group
Jyske Realkredit A/S is a public limited company and a wholly owned subsidi-
ary of Jyske Bank A/S ("Jyske Bank").
B.9
Profit fore-
Not applicable; because earnings expectations or forecasts for
cast
Jyske Realkredit are generally not considered material to the pricing of the
Bonds and therefore are not included in the Base prospectus.
B.10
Qualifica-
Not applicable; the audit report does not contain any qualifications on histori-
tions ex-
cal financial information relating to Jyske Realkredit.
pressed in

the audit
report on
historical
financial
information
B.12
Historical
Selected important historical financial information for Jyske Realkredit
financial
extracted from the most recent annual report:
information
Year
2018
2017
Income statement (DKKm):

Core income
2,361
2,135
Core expenses
730
851
Loan impairment charges and provisions for
-38
202
guarantees
Pre-tax profit
1,262
1,131
Balance sheet (DKKm.):

Mortgage loans
327,403
308,121
Issued bonds
332,955
316,305
Side 5 af 9

Equity
17,744
15,731
Ratios:

Pre-tax profit as a percentage of opening equity
7.5
7.9
Capital ratio (%)
22.1
20.8
Common Equity Tier 1 capital ratio (CET 1 %)
22.1
20.8
Individual solvency requirement (%)
9.7
9.3
At the date of this Base Prospectus, there has been no adverse material change
in the prospects of Jyske Realkredit since the date of its last published financial
statements.
No significant changes in in terms of Jyske Realkredit's financial or trading po-
sition have been recorded since the period covered by the historical financial
information.
B.13
Any events Not relevant. At the date of this Base Prospectus, no events had occurred which
which are
would be relevant to the evaluation of Jyske Realkredit's solvency since the an-
relevant to
nual report last published by Jyske Realkredit.
the issuer's
solvency
B.14
Depend-
Jyske Realkredit's financial position depends on the financial position of other
ence on
group companies.
other enti-
ties of the
group
B.15
Principal
The object of Jyske Realkredit is to operate as a mortgage credit institution, in-
activities
cluding any kind of business permitted pursuant to applicable legislation on
mortgage credit institutions.
B.16
Ownership
Jyske Realkredit is a wholly-owned subsidiary of Jyske Bank A/S.
B.17
Rating
At the time of the preparation of this Base Prospectus, Jyske Bank and Jyske
Realkredit have a joint issuer rating from Standard & Poor's. A long-Term
credit rating of A- with "stable outlook" and a short-term credit rating of A-2
with "stable outlook".
Jyske Realkredit's Bonds issued out of Capital Centre E, Capital Centre B and
the General Capital Centre have all, by Standard & Poor's, been assigned a tri-
ple A (AAA) rating with 'Stable Outlook'.
Jyske Realkredit is under no obligation to be rated.
Section C Securities
C.1
Security
Mortgage bonds ("RO")
type and
ISIN DK0009397572
ISIN

C.2
Currency
DKK
Side 6 af 9

C.5
Limitations Not relevant: The bonds are freely negotiable.
to the nego-
tiability of
the bonds
C.8
Rights per-
The nominal interest rate on the Bonds is disclosed in the Final Terms.
taining to
In the event of bankruptcy of Jyske Realkredit, Bondholders will rank before
the bonds
unsecured creditors in terms of assets in the capital centre where the Bonds are
issued, and also to Jyske Realkredit's other assets. To the extent a capital cen-
tre enters into agreements on financial instruments hedging the differences be-
tween loan and funding, any counterparties will have the same preferential sta-
tus.
C.9
Interest and The Bonds carry a fixed rate of interest.
investor
Interest rates, including any deferral of interest payments, and detailed provi-
representa-
sions on repayment, redemption and any extension of maturity are set out in the
tion
Final Terms of the specific Bonds.
The effective interest rate cannot be provided in the Final Terms because the
Bonds are issued on tap, and the effective interest rate depends on the price and
transaction date.
Representation of the Bondholders is not possible.
C.10
Derivative
Not relevant. The specific Bonds does not have derivative components in the
component interest payment.
of interest

payment
C.11
Listing
Admission to trading and official listing will appear from the Final Terms.
Section D Risks
D.2
The issuer
Jyske Realkredit's activities involve a number of different risks. If these risks
key risks
materialise, it could have a material adverse effect on Jyske Realkredit's results
of operations and financial position.
Investors should also read the detailed information set out elsewhere in this
Base Prospectus. Investors should make their own assessment, possibly by con-
sulting their own advisers, before making an investment decision. Should one
or more of the risks mentioned below materialise, investors may lose part or all
of their investment in the Bonds:
Credit risk
Market risk
Liquidity risk
Operational risk
Competition in mortgage lending
Risks relating to statutory capital
Transfer of funds between capital centres
Risk relating to the use of risk models
Ratings may not reflect all risks
Risk pertaining to forced sale
Side 7 af 9

Risk relating to the implementation of new rules

D.3
Key risks
The following factors represent important risks relating to investment in
that are
Bonds:
specific to

the securi-
Risks associated with the Bonds in general, including
ties
- Interest on overdue payments with respect to the Bonds
- Investor meetings and changes to terms
- Eurosystem eligibility
- European Monetary Union
- Investors to bear the risk of withholding tax
- Clearing risk
- Risks associated with bankruptcy rules
- Limitations to Jyske Realkredit's liability for damages
Changes to the legislative framework for covered bonds/mortgage
bonds
Risks associated with structuring an offer of Covered Bonds/Mortgage
Bonds
The description is not exhaustive and investors should also read the detailed in-
formation set out elsewhere in this Base Prospectus. Investors should make
their own assessment, possibly by consulting their own advisers, before making
an investment decision. Should one or more of the risks mentioned materialise,
investors may lose part or all of their investment in the Bonds:
Section E Offer
E.2b
Cause of
The proceeds from the issuance and sale of RO are applied for the funding of
the offer of loans secured against real property, unsecured loans to public authorities or
bonds and
loans guaranteed by public authorities.
the applica-
tion of the
proceeds,
in cases not
involving
generation
of profit
and/or cov-
ering cer-
tain risks
E.3
Terms and
The terms and conditions of the offer will be specified in the Final Terms.
conditions

of the offer
E.4
Interests of Not relevant: Jyske Realkredit knows of no interests and/or conflicts of interest
signifi-
of significance in relation to the issue of Bonds under this Base Prospectus.
cance in re-

lation to the
issue, in-
cluding
Side 8 af 9

conflicts of
interest
E.7
Estimated
Not relevant: Buyers shall solely pay normal trading costs (brokerage, etc.).
expenses of Jyske Realkredit is not aware of any expenses which an investor may be
investors
charged by a financial intermediary nor are they of relevance to Jyske
Realkredit.

Side 9 af 9