Obbligazione Bayern Landesbank 5.25% ( XS0133406172 ) in USD

Bayern Landesbank

100 USD ▼

Germania

XS0133406172 ( in USD )

5.25% per anno ( pagato 2 volte l'anno)

16/08/2005 - Obbligazione è scaduto

Prospetto opuscolo dell'obbligazione BAYERISCHE LANDESBANK XS0133406172 in USD 5.25%, scaduta

La Bayerische Landesbank (BayernLB) è una banca pubblica tedesca con sede a Monaco di Baviera, attiva nel settore bancario commerciale e di investimento.

The Obbligazione issued by Bayern Landesbank ( Germany ) , in USD, with the ISIN code XS0133406172, pays a coupon of 5.25% per year.
The coupons are paid 2 times per year and the Obbligazione maturity is 16/08/2005

This document constitutes a base prospectus in respect of non-equity securities of Bayerische Landesbank for
the purpose of Article 8 of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June
2017, as amended (the "Prospectus Regulation"), and the Luxembourg law of 16 July 2019 relating to prospec-
tuses for securities, as amended (Loi du 16 juillet 2019 relative aux prospectus pour valeurs mobilières et portant
mise en oeuvre du règlement (UE) 2017/1129 the "Luxembourg Prospectus Law").
EUR 60,000,000,000 Debt Issuance Programme Prospectus dated 2 May 2023
(the "Base Prospectus")
Bayerische Landesbank
A public law financial institution (rechtsfähige Anstalt des öffentlichen Rechts)
under the laws of the Federal Republic of Germany
EUR 60,000,000,000
Debt Issuance Programme
Application has been made in order for the notes in bearer form issued under this Base Prospectus (the "Notes")
to be listed on the official list of the Luxembourg Stock Exchange and to be admitted to trading on the regulated
market of the Luxembourg Stock Exchange or on the Professional Segment of the regulated market of the Lux-
embourg Stock Exchange or on the regulated market of the Munich Stock Exchange during a period of 12 months
from the date of this Base Prospectus. The regulated market of the Luxembourg Stock Exchange and the regu-
lated market of the Munich Stock Exchange are regulated markets within the meaning of Directive 2014/65/EU
on markets in financial instruments, as amended, and appear on the list of regulated markets issued by the Eu-
ropean Commission. Notes issued under this Base Prospectus may also be listed on any other regulated or ex-
change-regulated stock exchange in the Grand Duchy of Luxembourg or the Federal Republic of Germany or may
not be listed at all.
This Base Prospectus has been approved by the Commission de Surveillance du Secteur Financier of the Grand
Duchy of Luxembourg (the "CSSF") as competent authority under the Prospectus Regulation. The CSSF only ap-
proves this Base Prospectus as meeting the standards of completeness, comprehensibility and consistency im-
posed by the Prospectus Regulation. Such approval should not be considered as an endorsement of the issuer or
of the quality of the Notes that are the subject of this Base Prospectus and the CSSF gives no undertaking as to
the economic and financial soundness of the transaction or the quality or solvency of the Issuer. Investors should
make their own assessment as to the suitability of investing in the Notes.
The Issuer has requested the CSSF in its capacity as competent authority under the Prospectus Regulation and
the Luxembourg Prospectus Law to provide the competent authority in the Federal Republic of Germany with a
certificate of approval attesting that the Base Prospectus has been drawn up in accordance with the Prospectus
Regulation ("Notification"). The Issuer may request the CSSF to provide competent authorities in additional host
Member States within the European Economic Area with a Notification.

Arranger
BayernLB

Dealers

ABN AMRO
BayernLB
BNP PARIBAS
Citigroup
Crédit Agricole CIB
Deutsche Bank
J.P. Morgan
NatWest Markets
UBS Investment Bank
This Base Prospectus succeeds the base prospectus dated 28 April 2022. This Base Prospectus will be published
in electronic form on the website of the Issuer under https://www.bayernlb.de/internet/de/blb/resp/inves-
tor_relations_5/refinanzierung_1/2023_prospekte/dip_2023_05/dip_2023_05.jsp. The validity of this Base Pro-
spectus will expire on 2 May 2024.

Bayerische Landesbank EUR 60,000,000,000 Debt Issuance Programme Prospectus dated 2 May 2023

RESPONSIBILITY STATEMENT
Bayerische Landesbank (the "Issuer", "BayernLB" or the "Bank") with registered office in Munich is solely re-
sponsible for the information given in this Base Prospectus. The Issuer hereby declares that, to the best of its
knowledge, the information contained in this Base Prospectus is, in accordance with the facts and that this Base
Prospectus makes no omission likely to affect its import.
POSSIBILITY OF SUPPLEMENTS
Pursuant to Article 23 of the Prospectus Regulation, every significant new factor, material mistake or material
inaccuracy relating to the information included in this Base Prospectus which may affect the assessment of the
Notes and which arises or is noted between the time when this Base Prospectus is approved and the closing of
any offer period relating to an offer of Notes or the time when trading on a regulated market of any Notes begins,
whichever occurs later, shall be mentioned in a supplement to this Base Prospectus without undue delay.
Any such supplement will be published by the Issuer in electronic form on the website of the Issuer under
https://www.bayernlb.de/internet/de/blb/resp/investor_relations_5/refinanzier-
ung_1/2023_prospekte/dip_2023_05/dip_2023_05.jsp.
Where the Base Prospectus so supplemented relates to an offer of Notes to the public, investors who have al-
ready agreed to purchase or subscribe for the Notes before the supplement is published shall have the right,
exercisable within two working days after the publication of the supplement, to withdraw their acceptances,
provided that the significant new factor, material mistake or material inaccuracy referred to above arose or was
noted before the closing of the offer period or the delivery of the Notes, whichever occurs first. That period may
be extended by the Issuer or the offeror. The final date of the right of withdrawal shall be stated in the supple-
ment.
THE VALIDITY OF THIS BASE PROSPECTUS WILL EXPIRE ON 2 MAY 2024. THE OBLIGATION TO SUPPLEMENT
THIS BASE PROSPECTUS IN THE EVENT OF SIGNIFICANT NEW FACTORS, MATERIAL MISTAKES OR MATERIAL
INACCURACIES DOES NOT APPLY WHEN THIS BASE PROSPECTUS IS NO LONGER VALID.
NOTICE
This Base Prospectus should be read and understood in conjunction with any supplement thereto and any doc-
ument incorporated herein or therein by reference. Full information on the Issuer and any tranche of Notes is
only available on the basis of the combination of this Base Prospectus and the Final Terms relating to such tranche
of Notes. This Base Prospectus, any supplement thereto, any document incorporated herein or therein by refer-
ence, any Final Terms relating to this Base Prospectus and a separate copy of any summary (if any) relating to
any issue of Notes will be published on and accessible under the following dedicated section of the Issuer's web-
site:
https://www.bayernlb.de/internet/de/blb/resp/investor_relations_5/refinanzier-
ung_1/2023_prospekte/dip_2023_05/dip_2023_05.jsp.
The information on any website referenced in the Base Prospectus, except for information contained in a docu-
ment incorporated in this Base Prospectus by reference which can be viewed on such website, does not form
part of this Base Prospectus and has not been scrutinized or approved by the CSSF.
The Issuer has confirmed to the dealers set forth in section XV. "Names and Addresses" of this Base Prospectus
and any additional dealer appointed from time to time under the Programme (each a "Dealer" and together the
"Dealers") that this Base Prospectus contains all information with regard to the Issuer and the Notes which is
material in the context of the Programme and the issue and offering of the respective Notes, that the information
contained herein with respect to the Issuer and the Notes is accurate in all material respects and not misleading
and that there are no other facts with respect to the Issuer or the Notes the omission of which would make the

2

Bayerische Landesbank EUR 60,000,000,000 Debt Issuance Programme Prospectus dated 2 May 2023

Base Prospectus as a whole or any of parts, misleading in any material respect and that the Issuer has made all
reasonable enquiries to ascertain all facts and to verify the accuracy of all statements contained herein.
The delivery of this Base Prospectus or any Final Terms and the offering, sale or delivery of any Notes may not
be taken as an implication that the information contained in such documents is accurate and complete subse-
quent to their respective dates of issue or that there has been no adverse change in the financial condition of
the Issuer since such date or that any other information supplied in connection with this Base Prospectus or any
Final Terms or the offering, sale or delivery of any Notes is accurate at any time subsequent to the date on which
it is supplied or, if different, the date indicated in the document containing the same.
The Issuer has undertaken with the Dealers to publish a supplement to this Base Prospectus or a new base pro-
spectus upon the relevant approval having been given by the CSSF if and when the information herein should
become materially inaccurate or incomplete and has further agreed with the Dealers to furnish a supplement to
this Base Prospectus in accordance with Article 23 of the Prospectus Regulation in the event of a significant new
factor, material mistake or material inaccuracy relating to the information included in this Base Prospectus which
is capable of affecting the assessment of the Notes.
TO THE EXTENT PERMITTED BY THE LAWS OF ANY RELEVANT JURISDICTION, NEITHER THE ARRANGER NOR
ANY DEALER NOR ANY OTHER PERSON MENTIONED IN THIS BASE PROSPECTUS, EXCLUDING THE ISSUER, IS
RESPONSIBLE FOR THE INFORMATION CONTAINED IN THIS BASE PROSPECTUS OR ANY SUPPLEMENT HERETO
OR ANY DOCUMENT INCORPORATED HEREIN OR THEREIN BY REFERENCE, IF ANY, OR ANY FINAL TERMS AND
ACCORDINGLY, TO THE EXTENT PERMITTED BY THE LAWS OF ANY RELEVANT JURISDICTION, NONE OF THESE
PERSONS ACCEPTS ANY RESPONSIBILITY FOR THE ACCURACY AND COMPLETENESS OF THE INFORMATION
CONTAINED IN ANY OF THESE DOCUMENTS.
NO PERSON IS AUTHORISED TO GIVE ANY INFORMATION OR TO MAKE ANY REPRESENTATION REGARDING
THE ISSUER OR THE NOTES WHICH IS NOT CONTAINED IN OR NOT CONSISTENT WITH THIS BASE PROSPECTUS,
ANY SUPPLEMENT HERETO, ANY DOCUMENT INCORPORATED HEREIN OR THEREIN BY REFERENCE OR ANY FI-
NAL TERMS AND, IF GIVEN OR MADE, SUCH INFORMATION OR REPRESENTATIONS MUST NOT BE RELIED UPON
AS HAVING BEEN AUTHORISED BY OR ON BEHALF OF THE ISSUER OR ANY OF THE DEALERS.
THIS BASE PROSPECTUS AND ANY FINAL TERMS DO NOT CONSTITUTE AN INVITATION TO SUBSCRIBE FOR OR
PURCHASE ANY NOTES.
THE DISTRIBUTION OF THIS BASE PROSPECTUS OR ANY SUPPLEMENT HERETO OR ANY DOCUMENT INCORPO-
RATED HEREIN OR THEREIN BY REFERENCE, IF ANY, OR ANY FINAL TERMS AND THE OFFERING, SALE AND DE-
LIVERY OF THE NOTES IN CERTAIN JURISDICTIONS MAY BE RESTRICTED BY LAW. PERSONS INTO WHOSE POS-
SESSION THIS BASE PROSPECTUS, ANY SUPPLEMENT HERETO, ANY DOCUMENT INCORPORATED HEREIN OR
THEREIN BY REFERENCE OR ANY FINAL TERMS COME ARE REQUIRED TO INFORM THEMSELVES ABOUT AND TO
OBSERVE ANY SUCH RESTRICTIONS. THIS BASE PROSPECTUS AND ANY FINAL TERMS MAY NOT BE USED FOR
THE PURPOSE OF AN OFFER OR SOLICITATION BY ANYONE IN ANY JURISDICTION IN WHICH SUCH OFFER OR
SOLICITATION IS NOT AUTHORISED OR TO ANY PERSON TO WHOM IT IS UNLAWFUL TO MAKE SUCH AN OFFER
OR SOLICITATION.
For a description of certain restrictions on offers, sales and deliveries of Notes and on the distribution of the Base
Prospectus, any supplement hereto, any document incorporated herein or therein by reference or any Final
Terms and other offering material relating to the Notes, see section VII.2 "Plan of Distribution/Selling Re-
strictions". In particular, the Notes have not been and will not be registered under the U.S. Securities Act 1933,
and will include Notes in bearer form that are subject to U.S. tax law requirements. Subject to certain exceptions,
Notes may not be offered, sold or delivered within the United States or to U.S. persons.
Without prejudice to the foregoing, each further financial intermediary subsequently reselling or finally placing
Notes issued under this Base Prospectus is entitled to use this Base Prospectus as set out in section VII.4.1 "Con-
sent to the Use the Base Prospectus for public offers of Notes" and section VII.4.3 "Consent to the Use this Base
Prospectus for public offers of Previous Notes".

3

Bayerische Landesbank EUR 60,000,000,000 Debt Issuance Programme Prospectus dated 2 May 2023

This Base Prospectus has been drawn up in the English language. Any part of this Base Prospectus in the German
language constitutes a translation. In respect of any tranche of Notes, the German version of the Conditions will
be legally binding and govern the duties of the Issuer and the rights of the Holders under the Notes.
FORWARD-LOOKING STATEMENTS
This Base Prospectus, any supplement thereto or any document incorporated herein or therein by reference may
contain certain forward-looking statements. Forward-looking statements are statements that do not relate to
historical facts and events. They are based on analyses or forecasts of future events or results not yet determi-
nable or foreseeable. Forward-looking statements are identified by terms such as "anticipate", "believe", "could",
"estimate", "expect", "intend", "may", "plan", "predict", "project", "will" or similar terms. Forward-looking state-
ments occur, in particular, in statements in containing information on future earning capacity, plans and expec-
tations regarding the Issuer's business and management, its growth and profitability, and general economic and
regulatory conditions and other factors that affect it.
Forward-looking statements are based on current estimates and assumptions that the Issuer makes to the best
of its present knowledge. Thus, forward-looking statements are subject to risks, uncertainties and other factors
which could cause actual results, including the Issuer's financial condition and results of operations, to differ
materially from and be worse than results that have expressly or implicitly been assumed or described in these
forward-looking statements. The Issuer's business is also subject to risks and uncertainties that could cause a
forward-looking statement in this Base Prospectus to become inaccurate. Investors are strongly advised to read
the sections I. "Risk Factors" and III: "Bayerische Landesbank" which include more detailed descriptions of factors
that might have a negative impact on the Issuer's business.
In light of these risks and uncertainties, future events described in forward-looking statements may not occur
and you should not place undue reliance on forward-looking statements. In addition, neither the Issuer nor any
of the Dealers assumes any obligation, except as required by law, to update any forward-looking statement or
to conform any forward-looking statements to actual events or developments.

4

Bayerische Landesbank EUR 60,000,000,000 Debt Issuance Programme Prospectus dated 2 May 2023

TABLE OF CONTENTS

Responsibility Statement ................................................................................................................................. 2
Possibility of Supplements ............................................................................................................................... 2
Notice ............................................................................................................................................................ 2
Forward-looking Statements ............................................................................................................................ 4
Table of Contents ............................................................................................................................................. 5
I.
General Description of the Programme ............................................................................................... 9
1.
The Programme ......................................................................................................................................... 9
2.
The Notes ................................................................................................................................................... 9
2.1
Specified Currency .............................................................................................................................. 9
2.2
Notes With Principal Amount and Notes Without Principal Amount ................................................. 9
2.3
Denomination ................................................................................................................................... 10
2.4
Form, representation, clearing, transferability ................................................................................. 10
2.5
Formats ............................................................................................................................................. 11
2.6
Interest rate structures ..................................................................................................................... 11
2.7
Redemption structures ..................................................................................................................... 12
2.8
Other features ................................................................................................................................... 12
2.9
Governing law and binding language ................................................................................................ 13
3.
Issues ........................................................................................................................................................ 13
3.1
Tranches and series of Notes, increases ........................................................................................... 13
3.2
Issue Price, stabilisation .................................................................................................................... 14
3.3
Ratings ............................................................................................................................................... 14
3.4
Use of proceeds................................................................................................................................. 14
3.5
Admission to trading and dealing arrangements .............................................................................. 14
4.
Documentation of Issues ......................................................................................................................... 14
4.1
Final Terms and Conditions of the Notes .......................................................................................... 14
4.2
Issue-specific summary ..................................................................................................................... 15
4.3
Product governance .......................................................................................................................... 15
4.4
Key information document in accordance with the PRIIPs Regulation ............................................. 15
4.5
Global Note ....................................................................................................................................... 16
II.
Risk Factors........................................................................................................................................ 17
1.
Risk Factors Regarding the Issuer ............................................................................................................ 17
1.1
Risk factors associated with bank-specific crisis management ......................................................... 17
1.2
Risk factors associated with the Issuer's business ............................................................................ 22
1.3
Regulatory risk factors ...................................................................................................................... 24
1.4
Risk factors associated with the environment in which the Issuer conducts its business ................ 26
2.
Risk Factors Regarding the Notes ............................................................................................................ 28
2.1
Risks factors associated with the format of the Notes ..................................................................... 28
2.2
Risk factors associated with the interest rate structure of the Notes .............................................. 42
2.3
Risk factors associated with redemption structures ......................................................................... 51
2.4
Risk factors associated with other features of the Notes ................................................................. 52
2.5
Risk factors associated with ESG-related Notes ................................................................................ 52
2.6
Risk factors associated with potential conflicts of interest ............................................................... 59
2.7
Risk factors associated with the purchase, holding or sale of Notes ................................................ 59

5

Bayerische Landesbank EUR 60,000,000,000 Debt Issuance Programme Prospectus dated 2 May 2023

III.
Bayerische Landesbank ...................................................................................................................... 62
1.
Information About the Issuer................................................................................................................... 62
1.1
Information on the legal organisation of the Issuer ......................................................................... 62
1.2
Administrative, management and other supervisory bodies ............................................................ 65
1.3
Independent auditors........................................................................................................................ 69
1.4
Organisational structure ................................................................................................................... 69
2.
Issuer Ratings ........................................................................................................................................... 69
2.1
Assigned issuer ratings ...................................................................................................................... 69
2.2
Registration under the CRA Regulation ............................................................................................. 69
2.3
Rating definitions .............................................................................................................................. 69
2.4
Remarks on the interpretation of issuer ratings ............................................................................... 70
3.
Business Activities .................................................................................................................................... 71
3.1
Overview ........................................................................................................................................... 71
3.2
Principal markets ............................................................................................................................... 71
3.3
Principal activities ............................................................................................................................. 71
3.4
Guarantee Scheme of the Savings Banks Finance Group .................................................................. 74
4.
Financing .................................................................................................................................................. 74
4.1
Capitalisation ..................................................................................................................................... 74
4.2
Own funds requirements .................................................................................................................. 74
4.3
Minimum requirement for own funds and eligible liabilities............................................................ 75
4.4
Pfandbriefe ........................................................................................................................................ 75
4.5
Capital market funding ...................................................................................................................... 75
4.6
Material changes in the Issuer's borrowing and funding structure .................................................. 76
5.
Financial Information ............................................................................................................................... 76
5.1
Historical financial information ......................................................................................................... 76
5.2
Interim and other financial information ........................................................................................... 76
5.3
Significant change in the Issuer's financial position .......................................................................... 76
6.
Trend Information .................................................................................................................................... 76
6.1
Development of the BayernLB Group and the Issuer in the 2022 financial year .............................. 76
6.2
Recent developments and outlook ................................................................................................... 77
6.3
Changes in prospects and financial performance ............................................................................. 77
7.
Alternative Performance Measures ......................................................................................................... 77
8.
Governmental, Legal and Arbitration Proceedings .................................................................................. 78
IV.
General Conditions of the Notes English Version ............................................................................ 79
1.
Definitions ................................................................................................................................................ 79
2.
The Notes ................................................................................................................................................. 96
3.
Status ....................................................................................................................................................... 98
4.
Interest ................................................................................................................................................... 103
5.
Redemption ........................................................................................................................................... 127
6.
Payments ............................................................................................................................................... 129
7.
Agents .................................................................................................................................................... 130
8.
Tax .......................................................................................................................................................... 131
9.
Presentation Period ............................................................................................................................... 132
10. Events of Default .................................................................................................................................... 132
11. Substitution ............................................................................................................................................ 133
12. Resolutions of Holders ........................................................................................................................... 134
13. Increase, Repurchase, Cancellation ....................................................................................................... 136

6

Bayerische Landesbank EUR 60,000,000,000 Debt Issuance Programme Prospectus dated 2 May 2023

14. Notices ................................................................................................................................................... 137
15. Final Provisions ...................................................................................................................................... 137
16. Language ................................................................................................................................................ 138
V.
Allgemeine Bedingungen der Schuldverschreibungen Deutsche Fassung ...................................... 139
1.
Definitionen ........................................................................................................................................... 139
2.
Die Schuldverschreibungen ................................................................................................................... 159
3.
Status ..................................................................................................................................................... 161
4.
Zinsen ..................................................................................................................................................... 166
5.
Rückzahlung ........................................................................................................................................... 191
6.
Zahlungen .............................................................................................................................................. 194
7.
Beauftragte Stellen ................................................................................................................................ 195
8.
Steuern ................................................................................................................................................... 196
9.
Vorlegungsfrist ....................................................................................................................................... 197
10. Kündigung .............................................................................................................................................. 197
11. Ersetzung................................................................................................................................................ 198
12. Gläubigerbeschlüsse .............................................................................................................................. 199
13. Aufstockung, Rückkauf, Entwertung ...................................................................................................... 202
14. Mitteilungen .......................................................................................................................................... 203
15. Schlussbestimmungen ........................................................................................................................... 203
16. Sprache .................................................................................................................................................. 204
VI.
Overview Descriptions of Certain German Laws .............................................................................. 205
1.
Legal Framework for Pfandbriefe........................................................................................................... 205
1.1
Introduction .................................................................................................................................... 205
1.2
Rules applicable to all Pfandbrief categories .................................................................................. 205
1.3
Cover pool for mortgage Pfandbriefe ............................................................................................. 206
1.4
Cover pool for public Pfandbriefe ................................................................................................... 207
1.5
Insolvency proceedings ................................................................................................................... 209
2.
Legal Framework for Resolutions of Holders of Notes .......................................................................... 210
2.1
Introduction .................................................................................................................................... 210
2.2
Matters subject to majority resolution of Holders and binding effect ........................................... 211
2.3
Common Representative ................................................................................................................ 211
2.4
Procedure for convening meetings and passing resolutions .......................................................... 212
2.5
Costs ................................................................................................................................................ 214
2.6
Peculiarities in the event of insolvency proceedings ...................................................................... 214
2.7
Action to set aside a resolution of the Holders ............................................................................... 215
VII.
Terms and Conditions of the Offer of the Notes .............................................................................. 216
1.
Conditions, Pricing, Timetable and Procedures ..................................................................................... 216
1.1
Syndicated underwriting ................................................................................................................. 216
1.2
Non-syndicated underwriting ......................................................................................................... 217
1.3
Subscription during an offer period ................................................................................................ 217
1.4
Private placement ........................................................................................................................... 219
1.5
Continuous private placements ...................................................................................................... 219
1.6
Subscription during an offer period and subsequent continuous private placements ................... 220
2.
Plan of Distribution/Selling Restrictions ................................................................................................ 220
2.1
General ............................................................................................................................................ 220
2.2
European Economic Area ................................................................................................................ 220
2.3
United Kingdom .............................................................................................................................. 221
2.4
France .............................................................................................................................................. 222

7

Bayerische Landesbank EUR 60,000,000,000 Debt Issuance Programme Prospectus dated 2 May 2023

2.5
United States of America ................................................................................................................ 223
2.6
Japan ............................................................................................................................................... 224
3.
Placing and Underwriting ....................................................................................................................... 225
4.
Consent to Use the Base Prospectus ..................................................................................................... 225
4.1
Consent to use this Base Prospectus for public offers of Notes ..................................................... 225
4.2
Consent to use a Succeeding Base Prospectus for public offers of Notes ...................................... 226
4.3
Consent to use this Base Prospectus for public offers of Previous Notes ....................................... 226
VIII.
Admission to Trading and Dealing Arrangements ............................................................................ 227
1.
Admission to Trading ............................................................................................................................. 227
2.
Market Making ....................................................................................................................................... 227
3.
Quotation of Prices for Notes ................................................................................................................ 227
IX.
Interest of Natural and Legal Persons Involved in the Issue or Offer ................................................ 229
X.
Use of Proceeds ............................................................................................................................... 231
1.
Use of Proceeds General ..................................................................................................................... 231
2.
ESG-related Notes .................................................................................................................................. 231
2.1
Intended use of proceeds ............................................................................................................... 231
2.2
The Issuer's Sustainable Financing Framework ............................................................................... 231
2.3
Legal status of the Sustainable Financing Framework .................................................................... 232
2.4
Legal status of ESG-related Notes ................................................................................................... 232
2.5
Eligible Sustainable Loan Portfolio .................................................................................................. 233
2.6
Reporting and review ...................................................................................................................... 233
2.7
Responsibility .................................................................................................................................. 234
XI.
Form of Final Terms ......................................................................................................................... 235
XII.
General Information ........................................................................................................................ 268
1.
Information Pursuant to Article 29(2) of the Benchmark Regulation .................................................... 268
2.
Tax Warning ........................................................................................................................................... 268
3.
Information Pursuant to § 36 of the German Act on the Settlement of Disputes with Consumers

(Verbraucherstreitbeilegungsgesetz) ..................................................................................................... 268
XIII.
Documents Incorporated by Reference and Documents available ................................................... 269
1.
Information Incorporated by Reference ................................................................................................ 269
2.
Documents Available ............................................................................................................................. 271
XIV.
Glossary ........................................................................................................................................... 272
XV.
Names and Addresses ...................................................................................................................... 277

8

Bayerische Landesbank EUR 60,000,000,000 Debt Issuance Programme Prospectus dated 2 May 2023

I.
GENERAL DESCRIPTION OF THE PROGRAMME
1.
THE PROGRAMME
This Base Prospectus constitutes a base prospectus for the purposes of Article 8 of the Prospectus Regulation in
relation to the Issuer's EUR 60,000,000,000 Debt Issuance Programme (the "Programme").
The Issuer has entered into the Amended and Restated Dealer Agreement dated 2 May 2023 with the Dealers
set forth in section XV. "Names and Addresses" (the "Dealer Agreement") under which the Issuer may from time
to time issue Notes in bearer form to one or more of the Dealers party to the Dealer Agreement or any additional
Dealer appointed under the Programme from time to time by the Issuer which appointment may be for a specific
issue of Notes or on an ongoing basis. In addition, the Issuer may issue Notes in bearer form which it may itself
offer to the public during a specified offer period or which it may itself distribute in the primary market by direct
private placements either in a single transaction or through series of transactions. For details regarding the sub-
scription, placement, distribution and sale of Notes, please refer to section VII. "Terms and Conditions of the
Offer of the Notes".
The sum of (i) the Principal Amounts of all Notes With Principal Amount and (ii) the Calculation Amounts of all
Notes Without Principal Amount outstanding at any one time under the Programme will not exceed
EUR 60,000,000,000 (or its equivalent in other currencies). The Issuer may increase the amount of the Pro-
gramme in accordance with the terms of the Dealer Agreement from time to time.
Deutsche Bank Aktiengesellschaft and Bayerische Landesbank have been appointed as Fiscal Agents, Paying
Agents and Calculation Agents under the Programme. Deutsche Bank Aktiengesellschaft will act as Fiscal Agent,
Paying Agent and, if applicable, Calculation Agent in relation to Notes which will initially be deposited in global
form with, or with a depository or common depository or common safekeeper of, any clearing system other than
CBF. Bayerische Landesbank or Deutsche Bank Aktiengesellschaft (as indicated in the applicable Final Terms) will
act as Fiscal Agent, Paying Agent and, if applicable, Calculation Agent in relation to Notes that will initially be
deposited in global form with CBF.
Banque de Luxembourg S.A. has been appointed as Luxembourg Listing Agent in respect of listings and admis-
sions to trading of Notes on the Luxembourg Stock Exchange. Bayerische Landesbank will act as German Listing
Agent in respect of listings and admissions to trading of Notes on any stock exchange in the Federal Republic of
Germany. For further information regarding listing and admission to trading of Notes, reference is made to sec-
tion VIII. "Listing and Admission to Trading".
2.
THE NOTES
2.1
Specified Currency
Under this Base Prospectus, the Issuer may issue Notes in euro or in any other currency as determined by the
Issuer or agreed between the Issuer and the relevant Dealer(s) or subscriber(s), subject to any applicable legal or
regulatory restrictions, notably the German Pfandbrief Act, and requirements of relevant central banks.
2.2
Notes With Principal Amount and Notes Without Principal Amount
Notes may be issued as Notes With Principal Amount and Notes Without Principal Amount. If the Notes are Notes
With Principal Amount, each Note is issued in the Principal Amount and all Notes of such tranche together are
issued in the Aggregate Principal Amount, each as specified in the Final Terms. Notes Without Principal Amount
do not have a Principal Amount. Accordingly, a tranche of Notes Without Principal Amount does not have an
Aggregate Principal Amount and the size of such tranche is determined solely by reference to the Aggregate
Number of Notes, as set out in the Final Terms.

9

Bayerische Landesbank EUR 60,000,000,000 Debt Issuance Programme Prospectus dated 2 May 2023

For the purpose of calculating Interest Payments, Capital Payments and other payments in respect of the Notes,
each Note is attributed a Calculation Amount. In the case of Notes With Principal Amount, the Calculation
Amount is equal to the Principal Amount of the respective Note. In the case of Notes Without Principal Amount,
the Calculation Amount is specified in the relevant Final Terms.
Notes will be issued in such Principal Amounts (in the case of Notes With Principal Amount) and with such Cal-
culations Amounts as may be determined by the Issuer or agreed between the Issuer and the relevant Dealer(s)
or subscriber(s) save that the minimum Principal Amount or Calculation Amount, as applicable, will be EUR 1,000
or, if the Specified Currency is any currency other than euro, in an amount in such other currency nearly equiva-
lent to EUR 1,000 at the time of the issue of the Notes.
2.3
Denomination
The Notes are issued as part of a global issue which is denominated in units. Each Note constitutes one unit of
such global issue. The denomination per unit is equal to the Calculation Amount of the Notes.
2.4
Form, representation, clearing, transferability
All Notes will be issued as bearer notes (Inhaberschuldverschreibungen) within the meaning of sections 793 et
seqq. of the German Civil Code (Bürgerliches Gesetzbuch BGB) and be represented by a Global Note which will
be kept in custody either by or on behalf of Clearstream Banking S.A., Luxembourg and Euroclear Bank SA/NV,
Brussels as International Central Securities Depositories (ICSDs) or by or on behalf of Clearstream Banking AG,
Frankfurt/Main (CBF).
For the purposes of the U.S. Tax Equity and Fiscal Responsibility Act of 1982, the Notes may be represented
according to the TEFRA C rules or according to the TEFRA D rules. If the Notes are represented according to the
TEFRA C rules, they will be represented by a Permanent Global Note without coupons for their entire term. If the
Notes are represented according to the TEFRA D rules, they will be represented initially by a Temporary Global
Note without coupons which will be exchangeable in respect of one or several Notes for a Permanent Global
Note without coupons from a date no earlier than 40 days after the date of issue of the Temporary Global Note
upon delivery to the Fiscal Agent of certifications to the effect that the beneficial owner of a Note represented
by the Temporary Global Note is not a U.S. person (other than certain financial institutions or certain persons
holding Notes through such financial institutions) as required by United States tax law.
Notes represented by a Global Note kept in custody by or on behalf of the ICSDs may be issued in new global
note form (NGN) or in classical global note form (CGN). Notes issued in NGN form will be kept in custody by a
common safekeeper on behalf of both ICSDs. Notes issued in CGN form will be kept in custody by a common
depositary on behalf of both ICSDs.
According to the current ECB rules, Notes kept in custody by or on behalf of the ICSDs must be issued in NGN
form in order to be held in a manner which would allow Eurosystem eligibility and Notes kept in custody by or
on behalf of CBF are always held in a manner which would allow Eurosystem eligibility. It should be noted, how-
ever, that this does not necessarily mean that Notes issued in NGN form and kept in custody by a common safe-
keeper on behalf of the ICSDs or Notes kept in custody by or on behalf of CBF will be recognised as eligible
collateral for Eurosystem monetary policy and intraday credit operations by the Eurosystem either upon issue or
at any or all times during their life. Such recognition will depend upon the ECB being satisfied that Eurosystem
eligibility criteria have been met.
According to the current ECB rules, Notes issued in CGN form and kept in custody by a common depository on
behalf of the ICSDs are not held in a manner which would allow Eurosystem eligibility.
The Notes will be freely transferable in accordance with the rules of the relevant Clearing System.

10