Obligation Danica Bank 3.75% ( US23636BAA70 ) en USD

Danica Bank

100 % ⇌

Danemark

US23636BAA70 ( en USD )

3.75% par an ( paiement semestriel )

01/04/2015 - Obligation échue

Prospectus brochure de l'obligation Danske Bank US23636BAA70 en USD 3.75%, échue

100 000 USD

900 000 000 USD

23636BAA7

NR

NR

Danske Bank est une banque de détail et d'investissement danoise, l'une des plus grandes institutions financières des pays nordiques, offrant une large gamme de services bancaires aux particuliers et aux entreprises.

L'Obligation émise par Danica Bank ( Danemark ) , en USD, avec le code ISIN US23636BAA70, paye un coupon de 3.75% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 01/04/2015

L'Obligation émise par Danica Bank ( Danemark ) , en USD, avec le code ISIN US23636BAA70, a été notée NR par l'agence de notation Moody's.

L'Obligation émise par Danica Bank ( Danemark ) , en USD, avec le code ISIN US23636BAA70, a été notée NR par l'agence de notation Standard & Poor's ( S&P ).

TERMS AND CONDITIONS OF THE NOTES
This description of the Program contains the Conditions of the Notes which (subject to establishment of
the final terms for each Tranche of Notes) will be incorporated by reference into each Note. The relevant Final
Terms in relation to any Tranche of Notes will specify specific terms (including, but not limited to Conditions
relating to payment, and the interest rate bases for the Notes) which shall, to the extent so specified or to the
extent inconsistent with the following Conditions, replace or modify the following Conditions for the purpose of
such Notes. The relevant Final Terms will be endorsed upon, or attached to, each Note.
1. General
1.1 Danske Bank A/S (the "Issuer") has established a U.S. Medium-Term Note Program (the "Program") for
the issuance of up to U.S.$ 10,000,000,000 in aggregate principal amount of debt instruments (the "Notes").
Where a particular Condition (as defined below) is applicable only to certain classes of Notes, "Notes" shall
be construed in accordance with the relevant Condition.
1.2 Notes issued under the Program are issued in series (each a "Series") and each Series may comprise one or
more tranches (each, a "Tranche") of Notes. Each Tranche is the subject of a final terms document (the
"Final Terms") which supplements these Terms and Conditions (the "Conditions"). The Conditions
applicable to any particular Series of Notes are these Conditions as supplemented, amended and/or replaced
by the relevant Final Terms. In the event of any inconsistency between these Conditions and the relevant
Final Terms, the relevant Final Terms shall prevail.
1.3 The Notes are subject to a fiscal and paying agency agreement dated on or about September 19, 2008 (as
supplemented, amended and/or replaced from time to time, the "Agency Agreement") between the Issuer,
U.S. Bank National Association as fiscal agent (the "Fiscal Agent," which expression includes any
successor fiscal agent appointed from time to time in connection with the Notes) and registrar for the Notes
(the "Registrar") and the paying agent(s) named therein (the "Paying Agent(s)," which expression shall
include the Fiscal Agent and any substitute or additional paying agents appointed in accordance with the
Agency Agreement).
1.4 All subsequent references in these Conditions to "Notes" are to the Notes which are the subject of the
relevant Final Terms. Copies of the Final Terms applicable to a particular Tranche are available for
inspection by Holders (as defined below) of such Tranche during normal business hours at the corporate
trust office of the Fiscal Agent. In the case of any Series of Notes in relation to which application has not
been made for admission to listing, trading and/or quotation on any stock exchange, listing authority and/or
quotation system, copies of the Final Terms will only be available for inspection by Holders in respect of,
such Notes.
1.5 Certain provisions of these Conditions are summaries of the Agency Agreement and are subject to its
detailed provisions. The holders of the Notes (the "Holders") are bound by, and are deemed to have notice
of, all the provisions of the Agency Agreement applicable to them. A copy of the Agency Agreement is
available for inspection by Holders during normal business hours at the corporate trust office of the Fiscal
Agent.
1.6 The Notes will be issued only in registered form and in minimum denominations of U.S.$ 100,000 (or, in
the case of Notes not denominated in U.S. dollars, the equivalent thereof in such foreign currency, rounded
down to the nearest 100,000 units of such foreign currency, but so that in no event will the minimum
denomination be lower than EUR 50,000 or its equivalent at the Issue Date of the relevant Notes) and
integral multiples of U.S.$ 1,000 (or, in the case of Notes not denominated in U.S. dollars, 1,000 units of
such foreign currency) in excess thereof.
1.7 Unless otherwise indicated in the relevant Final Terms, the Notes will be denominated in U.S. dollars and
payments of the principal and any premium or interest on the Notes will be made in U.S. dollars. If any of
the Notes are denominated, and in respect of which payments are to be made in a currency other than or in
addition to U.S. dollars, additional information pertaining to the terms of such Notes and other matters
relevant to the Holders thereof will be described in the relevant Final Terms. See "Special Provisions
Relating to Foreign Currency Notes."

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2. Definitions and Interpretation
2.1 Definitions: In these Conditions the following expressions have the following meanings:
"Accrual Yield" has the meaning given in the relevant Final Terms;
"Additional Interest Amount" has the meaning given to such term in Condition 9 (Interest Deferral);
"Affiliates" has the meaning given to such term in paragraph (a)(l) of Rule 144 under the United States
Securities Act of 1933, as amended;
"Applicable Business Centre(s)" means the city or cities specified as such in the relevant Final Terms;
"Applicable Financial Centre(s)" means the city or cities specified as such in the relevant Final Terms;
"Arrears of Interest" has the meaning given to such term in Condition 9 (Interest Deferral);
"Articles of Association" means the articles of association of the Issuer;
"Bankruptcy Act" means the Danish Bankruptcy Act (Consolidated Act No. 1259 of October 23, 2007, as
amended);
"Business Day" means a day on which commercial banks and foreign exchange markets settle payments
and are open for business (including dealing in foreign exchange and foreign currency deposits) in each
Applicable Business Centre, and if TARGET is an Applicable Business Centre, a TARGET Settlement
Day;
"Business Day Convention," in relation to any particular date, has the meaning given in the relevant Final
Terms and, if so specified in the relevant Final Terms, may have different meanings in relation to different
dates and, in this context, the following expressions shall have the following meanings:
(i)
"Following Business Day Convention" means that the relevant date shall be postponed to the first
following day that is a Business Day;
(ii)
"Modified Following Business Day Convention" or "Modified Business Day Convention" means
that the relevant date shall be postponed to the first following day that is a Business Day unless that
day falls in the next calendar month in which case that date will be the first preceding day that is a
Business Day;
(iii) "Preceding Business Day Convention" means that the relevant date shall be brought forward to the
first preceding day that is a Business Day;
(iv) "FRN Convention," "Floating Rate Convention" or "Eurodollar Convention" means that each
relevant date shall be the date which numerically corresponds to the preceding such date in the
calendar month which is the number of months specified in the relevant Final Terms as the Specified
Period after the calendar month in which the preceding such date occurred provided, however, that:
(a)
if there is no such numerically corresponding day in the calendar month in which any such
date should occur, then such date will be the last day which is a Business Day in that calendar
month;
(b)
if any such date would otherwise fall on a day which is not a Business Day, then such date
will be the first following day which is a Business Day unless that day falls in the next
calendar month, in which case it will be the first preceding day which is a Business Day; and
(c)
if the preceding such date occurred on the last day in a calendar month which was a Business
Day, then all subsequent such dates will be the last day which is a Business Day in the
calendar month which is the specified number of months after the calendar month in which the
preceding such date occurred; and
(v)
"No Adjustment" means that the relevant date shall not be adjusted in accordance with any Business
Day Convention;

151

"Calculation Agent" means the Fiscal Agent or such other Person specified in the relevant Final Terms as
the party responsible for calculating the Rate(s) of Interest and Interest Amount(s) and/or such other
amount(s) as may be specified in the relevant Final Terms;
"Calculation Amount" has the meaning given to such term in the relevant Final Terms, provided that if, in
the case of a Subordinated Note, the Outstanding Principal Amount of such Note is reduced in accordance
with Condition 10.2 (Reduction and Cancellation), the Calculation Agent shall (i) adjust the Calculation
Amount on a pro rata basis to account for such reduction and (ii) notify the Holders in accordance with
Condition 22 (Notices) and the Fiscal Agent of the details of such adjustment;
"Call Option" has the meaning given in the relevant Final Terms;
"Capital Event Amount (Subordinated Notes)" means, in respect of any Subordinated Note, its Outstanding
Principal Amount or such other amount as may be specified in, or calculated or determined in accordance
with, these Conditions or the relevant Final Terms;
"Clearstream" means Clearstream Banking, société anonyme;
"Contractual Currency" has the meaning given to such term in Condition 23 (Currency Indemnity);
"Danish Financial Business Act" means the Danish Financial Business Act (Consolidated Act No. 793 of
August 20, 2009, as amended);
"Day Count Fraction" means, in respect of the calculation of an amount for any period of time (the
"Calculation Period"), such day count fraction as may be specified in these Conditions or the relevant Final
Terms and:
(i)
if "Actual/Actual (ICMA)" is so specified, means:
(a)
where the Calculation Period is equal to or shorter than the Regular Period during which it
falls, the actual number of days in the Calculation Period divided by the product of (A) the
actual number of days in such Regular Period and (B) the number of Regular Periods in any
year; and
(b)
where the Calculation Period is longer than one Regular Period, the sum of:
(i)
the actual number of days in such Calculation Period falling in the Regular Period in
which it begins divided by the product of (A) the actual number of days in such Regular
Period and (B) the number of Regular Periods in any year; and
(ii)
the actual number of days in such Calculation Period falling in the next Regular Period
divided by the product of (A) the actual number of days in such Regular Period and (B)
the number of Regular Periods in any year;
(ii) if "Actual/365," "Actual/Actual" or "Actual/Actual (ISDA)" is so specified, means the actual
number of days in the Calculation Period divided by 365 (or, if any portion of the Calculation Period
falls in a leap year, the sum of (A) the actual number of days in that portion of the Calculation Period
falling in a leap year divided by 366 and (B) the actual number of days in that portion of the
Calculation Period falling in a non-leap year divided by 365);
(iii) if "Actual/365 (Fixed)" is so specified, means the actual number of days in the Calculation Period
divided by 365;
(iv)
if "Actual/360" is so specified, means the actual number of days in the Calculation Period divided by
360;
(v)
if "30/360" is so specified, means the number of days in the Calculation Period divided by 360,
calculated on a formula basis as follows:
Day Count Fraction = [360× (Y2-Y )1]+[ x
30 M2-M ]
1 + (D2- D )
1
360

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where:
"Y1" is the year, expressed as a number, in which the first day of the Calculation Period falls;
"Y2" is the year, expressed as a number, in which the day immediately following the last day of the
Calculation Period falls;
"M1" is the calendar month, expressed as a number, in which the first day of the Calculation Period
falls;
"M2" is the calendar month, expressed as a number, in which the day immediately following the last
day of the Calculation Period falls;
"D1" is the first calendar day, expressed as a number, of the Calculation Period, unless such number
is 31, in which case D1 will be 30; and
"D2" is the calendar day, expressed as a number, immediately following the last day included in the
Calculation Period, unless such number would be 31 and D1 is greater than 29, in which case D2 will
be 30; and
(vi) if "30E/360" or "Eurobond Basis" is so specified, means the number of days in the Calculation
Period divided by 360, calculated on a formula basis as follows:
Day Count Fraction = [360× (Y2-Y )
1 ]+[30x M2-M ]
1 + (D2 - D )
1
360
where:
"Y1" is the year, expressed as a number, in which the first day of the Calculation Period falls;
"Y2" is the year, expressed as a number, in which the day immediately following the last day of the
Calculation Period falls;
"M1" is the calendar month, expressed as a number, in which the first day of the Calculation Period
falls;
"M2" is the calendar month, expressed as a number, in which the day immediately following the last
day of the Calculation Period falls;
"D1" is the first calendar day, expressed as a number, of the Calculation Period, unless such number
would be 31, in which case D1 will be 30; and
"D2" is the calendar day, expressed as a number, immediately following the last day included in the
Calculation Period, unless such number would be 31, in which case D2 will be 30; and
(vii) if "30E/360 (ISDA)" is so specified, means the number of days in the Calculation Period divided by
360, calculated on a formula basis as follows:
Day Count Fraction = [360× (Y2-Y )
1 ]+[30 x M2 -M ]
1 + (D2 - D )
1
360
where:
"Y1" is the year, expressed as a number, in which the first day of the Calculation Period falls;
"Y2" is the year, expressed as a number, in which the day immediately following the last day of the
Calculation Period falls;
"M1" is the calendar month, expressed as a number, in which the first day of the Calculation Period
falls;
"M2" is the calendar month, expressed as a number, in which the day immediately following the last
day of the Calculation Period falls;

153