Obligation Hypo Vorarlberger Bank AG 0.25% ( CH0441186480 ) en CHF

Hypo Vorarlberger Bank AG

100 % ▲

Autriche

CH0441186480 ( en CHF )

0.25% par an ( paiement annuel )

12/11/2025

Prospectus brochure de l'obligation Hypo Vorarlberg Bank AG CH0441186480 en CHF 0.25%, échéance 12/11/2025

5 000 CHF

100 000 000 CHF

12/11/2025 ( Dans 187 jours )

Hypo Vorarlberg Bank AG est une banque autrichienne spécialisée dans le financement immobilier et les services bancaires aux entreprises et aux particuliers, principalement dans la région du Vorarlberg.

L'Obligation émise par Hypo Vorarlberger Bank AG ( Autriche ) , en CHF, avec le code ISIN CH0441186480, paye un coupon de 0.25% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 12/11/2025

Hypo Vorarlberg Bank AG
(Bregenz, Austria)
CHF 100,000,000 0.250 % Mortgage Pfandbriefe
due 12 November 2025
(the "Notes")
 with reopening clause 
The Notes are issued under the EUR 6,000,000,000 Debt Issuance Programme (the "Programme") established
by Hypo Vorarlberg Bank AG (the "Issuer"). The Notes to be issued are expected to be rated "Aaa" by Moody's
Deutschland GmbH. Full information on the Notes is only available on the basis of the combination of the debt is-
suance programme prospectus dated 27 July 2018 included herein as Annex A (the "Prospectus"), the final terms
applicable to the Notes set forth on page 11 herein (the "Final Terms") in conjunction with the Terms and Condi-
tions of the Notes (the "Terms and Conditions") and any other information contained in this Swiss Prospectus.
Issuer:
Hypo Vorarlberg Bank AG, Hypo-Passage 1, 6900 Bregenz, Republic of Austria
Issue Price:
The Joint Lead Managers have agreed to purchase the Notes at the price of 100.486 percent
of the aggregate nominal amount of the Notes (before commissions and expenses).
Placement Price:
According to demand
Form of Notes:
The Notes will be represented by a Permanent Global Pfandbrief (for details see § 1 of the
Terms and Conditions). Holders of interests in the Permanent Global Pfandbrief do not have
the right to request the printing and delivery of definitive Notes.
Denomination:
CHF 5,000 nominal and integral multiples thereof.
Issue Date:
12 November 2018
Maturity Date:
12 November 2025
Early Redemption:
None (no early redemption possibility for taxation reasons)
Further Issues:
The Issuer reserves the right to issue further Notes of this Series (for details see § 9(1) of the
Terms and Conditions).
Status:
The Notes constitute direct, unconditional and unsubordinated obligations of the Issuer rank-
ing pari passu among themselves. The Notes are covered in accordance with the Austrian
Act Concerning Pfandbriefe and Related Bonds of Public Law Credit Institutions (Gesetz
über die Pfandbriefe und verwandten Schuldverschreibungen öffentlich-rechtlicher Kredit-
anstalten (Pfandbriefgesetz)) and rank pari passu with all other unsubordinated obligations
of the Issuer, present and future, under Mortgage Pfandbriefe which are covered by the
same asset cover pool (Deckungsstock).
Listing:
The Notes have been provisional y admitted to trading on SIX Swiss Exchange with effect
from 9 November 2018 and application will be made for the Notes to be listed on SIX Swiss
Exchange. The last day of trading of the Notes is expected to be 10 November 2025.
Law and Jurisdiction:
The Notes will be governed by and construed in accordance with Austrian law, place of
jurisdiction is the competent court for Feldkirch, Austria.
Selling Restrictions:
In particular, but not limited to, United States of America and U. S. persons, European Eco-
nomic Area, Japan and Italy (for details see page 2 of this Swiss Prospectus and pages 361
to 364 of the Prospectus).
Credit Suisse

UBS Investment Bank
(the "Joint Lead Managers")
Swiss Security No.: 44 118 648
ISIN: CH0441186480
Common Code: 190121453
Swiss Prospectus dated 8 November 2018
This Swiss Prospectus has been prepared in connection with the offering and listing of the Notes in Switzerland only. The Notes will not be admitted to trading on a regulated market in the
European Economic Area and will be listed solely on the SIX Swiss Exchange. The Notes must not be offered or sold within the European Economic Area in circumstances where a prospectus is
required to be published under Directive 2003 / 71 / EC, as amended (the Prospectus Directive) and neither the Issuer nor the Joint Lead Managers have authorised, nor do they authorise, the
making of any offer of the Notes in circumstances in which an obligations arises for the Issuer or the Joint Lead Managers to publish a prospectus for such offer. This Swiss Prospectus has not
been reviewed or approved by any competent authority in any Member State of the European Economic Area and does not constitute a prospectus within the meaning of the Prospectus Directive.

Selling Restrictions
The discussion below supplements but does not supersede the discussion beginning on page 361 of the Prospectus under
"Selling Restrictions". For further details please refer to pages 361 to 364 of the Prospectus.
United States of America and U. S. persons
The Notes have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securi-
ties Act") and are in bearer form and subject to U. S. tax law requirements. The Notes may not be offered, sold or delivered
within the United States of America or its possessions or to, or for the account of, U. S. Persons (as defined in Regulation S
("Regulation S") under the Securities Act) in reliance on Regulation S. Each of the Joint Lead Managers has agreed that it
will not offer, sell or deliver Notes within the United States of America or its possessions or to U. S. Persons.
In addition, until 40 days after the commencement of the offering of all Notes, an offer or sale of such Notes within the United
States of America by any dealer (whether or not participating in the offering) may violate the registration requirements of the
Securities Act.
The applicable TEFRA exemption is TEFRA D, in accordance with usual Swiss practice.
European Economic Area, United Kingdom, Japan and general selling restrictions.
Prohibition of Sales to EEA Retail Investors: Not Applicable
In addition, the following restrictions apply:
Italy
The offering of the Notes has not been registered pursuant to Italian securities legislation and, accordingly, no Notes may be
offered, sold or delivered, nor may copies of this Swiss Prospectus or of any other document relating to the Notes be distributed
in the Republic of Italy, except:
(i) to qualified investors (investitori qualificati), as defined pursuant to Article 100 of Legislative Decree No. 58 of 24 February
1998, as amended (the "Financial Services Act") and Article 34-ter, first paragraph, letter b) of CONSOB Regulation
No. 11971 of 14 May 1999, as amended from time to time ("Regulation No. 11971"); or
(ii) in other circumstances which are exempted from the rules on public offerings pursuant to Article 100 of the Financial
Services Act and Article 34-ter of Regulation No. 11971.
Any offer, sale or delivery of the Notes or distribution of copies of this Swiss Prospectus or any other document relating to the
Notes in the Republic of Italy under (i) or (i ) above must:
(a) be made by an investment firm, bank or financial intermediary permitted to conduct such activities in the Republic of Italy in
accordance with the Financial Services Act, CONSOB Regulation No. 20307 of 15 February 2018 (as amended from time
to time) and Legislative Decree No. 385 of 1 September 1993, as amended (the "Banking Act"); and
(a) comply with any other applicable laws and regulations or requirement imposed by CONSOB, the Bank of Italy (including
the reporting requirements, where applicable, pursuant to Article 129 of the Banking Act and the implementing guidelines
of the Bank of Italy, as amended from time to time) and / or any other Italian authority.
In accordance with Article 100-bis of the Financial Services Act, where no exemption from the rules on public offerings applies,
Notes which are initially offered and placed in Italy or abroad to qualified investors only but in the following year are systematically
("sistematicamente") distributed on the secondary market in Italy become subject to the public offer and the prospectus require-
ment rules provided under the Financial Services Act and Regulation No. 11971. Failure to comply with such rules may result in
the sale of such Notes being declared null and void and in the liability of the intermediary transferring the financial instruments
for any damages suffered by the investors.
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Table of Contents
Page
Selling Restrictions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
General Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
Information on the Issuer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
Responsibility Statement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
Taxation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
Final Terms (including Terms and Conditions of the Notes) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
Debt Issuance Programme Prospectus dated 27 July 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Annex A
Semi-Annual Report 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Annex B
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General Information
This issuance and listing prospectus (the "Swiss Prospectus") shall be read and construed on the basis that (i) the annexes to
this Swiss Prospectus and (ii) the document incorporated by reference in this Swiss Prospectus shall be deemed to be incor-
porated in, and to form part of, this Swiss Prospectus.
Except as otherwise stated in this Swiss Prospectus, terms defined in the Prospectus shall have the same meaning when used
in this Swiss Prospectus.
Notice to Investors
The Notes are issued under the Programme of the Issuer. Full information on the Issuer and the Notes is only available
on the basis of the combination of the Prospectus and this Swiss Prospectus including the Final Terms and Terms and
Conditions of the Notes set forth on page 11.
The Notes will be governed by and construed in accordance with Austrian law, place of jurisdiction are the courts com-
petent for Feldkirch, Austria.
The financial institutions involved in the issuance and offering of these Notes are banks, which directly or indirectly have
participated, or may participate, in financing transactions and / or banking business with the Issuer, which are not dis-
closed herein.
Investors are advised to familiarise themselves with the entire content of this Swiss Prospectus including the annexes
hereto and the document incorporated by reference in this Swiss Prospectus.
Authorisation
In accordance with authorisations by the Board of Management of the Issuer duly adopted under the Programme, and pursu-
ant to agreements dated 8 November 2018 between the Issuer and the Joint Lead Managers, the Issuer has agreed to issue
in Switzerland 0.250 per cent. Mortgage Pfandbriefe due 12 November 2025 in the principal amount of CHF 100,000,000.
Use of Proceeds
The net proceeds from the issue of the Notes, amounting to CHF 100,186,000, will be used by the Issuer for its general funding
purposes. None of the Joint Lead Managers shall have any responsibility for, nor be obliged to concern itself with, the application
of such net proceeds.
Documents Incorporated by Reference
The Issuer's Annual Report for the year ended 31 December 2017 is incorporated in, and forms an integral part of, this Swiss
Prospectus by reference.
Significant or Material Change
As at the date hereof, except as disclosed in this Swiss Prospectus, there have been no significant changes in the financial or
trading position of the Issuer since 30 June 2018 (the date of the last published financial statements).
Litigation
As at the date hereof, except as disclosed in the Swiss Prospectus, there are no governmental, legal or arbitration proceed-
ings (including any such proceedings which are pending or threatened of which the Issuer is aware), during a period covering
the previous 12 months which may have, or have had in the recent past, significant effects on the Issuer's financial position
or profitability.
5

General Information
Representative
In accordance with Article 43 of the listing rules of the SIX Swiss Exchange Ltd ("SIX Swiss Exchange"), the Issuer has ap-
pointed Credit Suisse AG as its representative to lodge the listing application with SIX Exchange Regulation Ltd.
Documents Available
Copies of this Swiss Prospectus and the document incorporated by reference herein are available free of charge from
Credit Suisse AG, Uetlibergstrasse 231, CH-8070 Zurich, Switzerland, or may be obtained upon request by telephone
(+41 44 333 28 86), fax (+41 44 333 57 79) or e-mail to [email protected].
6

Information on the Issuer
For detailed corporate and financial information with respect to the Issuer, please refer to the section "Hypo Vorarlberg Bank
AG" on pages 337 to 349 of the Prospectus included herein as Annex A, the Issuer's Semi-Annual Report 2018 included herein
as Annex B and the Issuer's Annual Report 2017 incorporated by reference into the Swiss Prospectus.
Dividends
In the last five business years, the Issuer has paid the following dividends:
Financial Year
2017
2016
2015
2014
2013
Dividend
10.00
43.50
10.00
10.00
10.00
(EUR per share)
7

Taxation
The following summary of certain aspects of withholding taxes in Switzerland is of a general nature and is included herein
solely for informational purposes. It is no intended to be, nor should it be construed to be, legal or tax advice. Prospective
investors in the Notes should therefore consult their own professional advisers as to the effects of state, local or foreign laws,
including Swiss tax law, to which they may be subject.
The discussion below supplements but does not supersede the discussions beginning on page 355 of the Prospectus under
"Taxation". For further details please refer to pages 355 to 362 of the Prospectus.
Swiss Withholding Tax
Payments by the Issuer of interest on, and repayment of principal of, the Notes, will not be subject to Swiss federal withholding
tax, provided that the Issuer is at all times resident and managed outside Switzerland for Swiss tax purposes.
On 4 November 2015 the Swiss Federal Council announced a mandate to the Swiss Federal Finance Department to institute
a group of experts tasked with the preparation of a new proposal for a reform of the Swiss withholding tax system. The new
proposal is expected to include in respect of interest payments the replacement of the existing debtor-based regime by a paying
agent-based regime for Swiss withholding tax similar to the one published on 17 December 2014 by the Swiss Federal Council
and repealed on 24 June 2015 following the negative outcome of the legislative consultation with Swiss official and private bod-
ies. Under such a new paying agent-based regime, if enacted, a paying agent in Switzerland may be required to deduct Swiss
withholding tax on any payments or any securing of payments of interest in respect of a Note for the benefit of the beneficial
owner of the payment unless certain procedures are complied with to establish that the holder of the Note is not an individual
resident in Switzerland.
Automatic Exchange of Information in Tax Matters
Switzerland has concluded a multilateral agreement with the European Union (EU) on the international automatic exchange of
information (AEOI) in tax matters. The agreement applies to all 28 EU member states and Gibraltar and certain other jurisdic-
tions. Also, Switzerland has entered into the multilateral competent authority agreement on the automatic exchange of financial
account information (MCAA), and based on the MCAA, a number of bilateral AEOI agreements with other countries.
Based on such agreements and the implementing laws of Switzerland, Switzerland commenced collecting, or will commence
collecting, data in respect of financial assets held in, and income derived thereon and credited to, accounts or deposits with a
paying agent in Switzerland, including, as the case may be, Notes, for the benefit of individuals resident in a EU member state
or other treaty state from 2017 or a later date, and began exchanging, or will begin exchanging, the data from 2018 or a later
date, in each case depending on the date of effectiveness of the relevant agreement. Switzerland has signed and intends to sign
further AEOI agreements with further countries. An up-to-date list of the AEOI agreements of Switzerland in effect or signed and
becoming effective, including the dates of commencement of data collection and data exchange, can be found on the website
of the State Secretariat for International Financial Matters SIF (https://www.sif.admin.ch/sif/de/home/themen/internationale-
steuerpolitik/automatischer-informationsaustausch.html).
Swiss Facilitation of the Implementation of the U. S. Foreign Account Tax Compliance Act
Switzerland has concluded an intergovernmental agreement with the U. S. to facilitate the implementation of FATCA. The agree-
ment ensures that the accounts held by U. S. persons with Swiss financial institutions are disclosed to the U. S. tax authorities
either with the consent of the account holder or by means of group requests within the scope of administrative assistance.
Information will not be transferred automatically in the absence of consent, and instead will be exchanged only within the scope
of administrative assistance on the basis of the double taxation agreement between the U. S. and Switzerland. On 8 October
2014, the Swiss Federal Council approved a mandate for negotiations with the U. S. on changing the current direct-notification-
based regime to a regime where the relevant information is sent to the Swiss Federal Tax Administration, which in turn provides
the information to the U. S. tax authorities.
Prospective purchasers of the Notes who might be in the scope of the above should consult their own tax advisor as to the tax
consequences relating to their particular circumstances.
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