Obligation Delta Lloyd N.V 9% ( XS0821168423 ) en EUR

Delta Lloyd N.V

106.455 % ▲

Pays-Bas

XS0821168423 ( en EUR )

9% par an ( paiement annuel )

28/08/2042 ( La date du prochain call est le 29/08/2022 )

Prospectus brochure de l'obligation Delta Lloyd N.V XS0821168423 en EUR 9%, échéance 28/08/2042

100 000 EUR

500 000 000 EUR

BBB+ ( Qualité moyenne inférieure )

/

29/08/2022 ( Dans 270 jours )

L'Obligation émise par Delta Lloyd N.V ( Pays-Bas ) , en EUR, avec le code ISIN XS0821168423, paye un coupon de 9% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 28/08/2042
L'Obligation émise par Delta Lloyd N.V ( Pays-Bas ) , en EUR, avec le code ISIN XS0821168423, a été notée BBB+ ( Qualité moyenne inférieure ) par l'agence de notation Standard & Poor's ( S&P ).

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Delta Ll'yd Levensverzekering N.V.
(inc%rp%rated with limited liability in Amsterdam, The Netherlands)
5500,000,000 Fixed t' Fl'ating Rate Sub'rdinated N'tes due 2042
The $500,000,000 Fixed t- Fl-ating Rate Sub-rdinated N-tes due 2042 (the N'tes) are issued by Delta Ll-yd Levensverzekering N.V. (the
Issuer). The den-minati-n -f the N-tes will be $100,000 and integral multiples -f $1,000 in excess there-f, up t- and including $199,000.
Applicati-n has been made by the Issuer t- The Netherlands Auth-rity f-r the Financial Markets (the AFM) in its capacity as c-mpetent
auth-rity under the Dutch Financial Supervisi-n Act (Wet %p het financieel t%ezicht (Wft)) relating t- pr-spectuses f-r securities, f-r the
appr-val -f this Pr-spectus f-r the purp-ses -f Directive 2003/71/EC (the Pr'spectus Directive). Applicati-n has als- been made by the
Issuer t- Eur-next Amsterdam N.V. (Eur'next) f-r the N-tes t- be listed -n NYSE Eur-next in Amsterdam (Eur'next Amsterdam).
References in this Pr-spectus t- the N-tes being "listed" (and all related references) shall mean that the N-tes have been listed and admitted
t- trading -n Eur-next Amsterdam. Eur-next Amsterdam is a regulated market f-r the purp-ses -f Directive 2004/39/EC -f the Eur-pean
Parliament and -f the C-uncil -n markets in financial instruments.
Up t- 29 August 2022 (the First Call Date), the N-tes bear a fixed rate -f interest -f 9.00 per cent. per annum, payable annually in arrear -n
29 August -f each calendar year (each a Fixed Interest Payment Date). If -n the First Call Date the N-tes will n-t have been redeemed in
full in acc-rdance with the terms and c-nditi-ns -f the N-tes (the Terms and C'nditi'ns), the N-tes will bear a fl-ating rate -f interest -f
Eurib-r f-r three m-nth dep-sits in eur- plus a margin -f 8.12 per cent. per annum payable quarterly in arrear -n 29 February (except in a
year that is n-t a leap year, in which case, -n 1 March -f such year), 29 May, 29 August and 29 N-vember in each year, f-r the first time -n
29 N-vember 2022 (each a Fl'ating Interest Payment Date and t-gether with each Fixed Interest Payment Date, each an Interest Payment
Date).
Subject t- the Terms and C-nditi-ns, the Issuer may -n any Opti-nal Interest Payment Date defer payment -f interest -n the N-tes which
w-uld -therwise be payable -n such date until the Maturity Date -r any earlier date -n which the N-tes are redeemed in full.
In additi-n t- the right -f the Issuer t- defer payment -f interest in acc-rdance with C-nditi-n 5(a)(i), payments in respect -f -r arising fr-m
(including any damages awarded f-r breach -f any -bligati-ns under) the N-tes may -nly be made pr-vided the Mandat-ry N-n-payment
C-nditi-n is n-t met at the time -f payment by the Issuer, and n- interest shall be due and payable in respect -f -r arising fr-m the N-tes
except t- the extent that the Mandat-ry N-n-payment C-nditi-n is n-t met and the Issuer c-uld make such payment with-ut the Mandat-ry
N-n-payment C-nditi-n being met, except where C-nditi-n 2 applies, in which case the h-lder shall have a sub-rdinated claim as set -ut
therein. Any interest in respect -f the N-tes n-t paid -n any Interest Payment Date, t-gether with any -ther interest in respect there-f n-t paid
-n any earlier Interest Payment Date, in each case by virtue -f C-nditi-n 5(a), shall, s- l-ng as the same remains unpaid, c-nstitute Arrears
'f Interest.
Arrears -f Interest, and any -ther am-unt, payment -f which is deferred in acc-rdance with C-nditi-n 5(a), may be paid in wh-le -r in part,
but subject t- the Mandat-ry N-n-payment C-nditi-n n-t being met at the time -f payment by the Issuer, at any time up-n the expiry -f n-t
less than 14 days' n-tice t- such effect given by the Issuer t- the h-lders -f the N-tes (the N'teh'lders), and in any event will aut-matically
bec-me immediately due and payable in wh-le up-n the -ccurrence -f certain events as described in C-nditi-n 5(b).
Unless the N-tes are previ-usly redeemed -r purchased and cancelled in full, the Issuer will redeem the N-tes at their principal am-unt,
t-gether with all Arrears -f Interest and interest accrued (if any) -n 29 August 2042 (the Maturity Date). S- l-ng as the Issuer is subject t-
Capital Adequacy Regulati-ns, any redempti-n pursuant t- C-nditi-n 6 may -nly be made pr-vided the Mandat-ry N-n-payment C-nditi-n
is n-t met at the time -f such redempti-n, and n- principal, premium, interest -r any -ther am-unt shall be due and payable in respect -f -r
arising fr-m the N-tes except t- the extent that the Mandat-ry N-n-payment C-nditi-n is n-t met and the Issuer c-uld make such payment
with-ut the Mandat-ry N-n-payment C-nditi-n being met, except where C-nditi-n 2 applies, in which case the h-lder shall have a
sub-rdinated claim as set -ut therein. Any c-nversi-n, exchange, substituti-n, variati-n -r purchase is subject t- c-mpliance with the Capital
Adequacy Regulati-ns.
The Issuer has the -pti-n t- redeem all -f the N-tes in full -n 29 August 2022 -r -n any Interest Payment Date thereafter (each an Opti'nal
Redempti'n Date) at their principal am-unt -utstanding, t-gether with any accrued and unpaid interest and any Arrears -f Interest, subject
t- and in acc-rdance with the Terms and C-nditi-ns. In additi-n, the Issuer may, subject t- and in acc-rdance with the C-nditi-ns 6(c) and
6(d), unless previ-usly redeemed in full, redeem the N-tes, in wh-le, but n-t in part, -n n-t less than 30 n-r m-re than 60 days' irrev-cable
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n-tice t- the N-teh-lders at their principal am-unt t-gether with any interest accrued t- (but excluding) the date fixed f-r redempti-n in
acc-rdance with the Terms and C-nditi-ns and any Arrears -f Interest. In case -f a Capital Disqualificati-n Event in acc-rdance with
C-nditi-ns 6(d), the Issuer may, in its s-le discreti-n but subject t- c-mpliance with applicable Capital Adequacy Regulati-ns, c-nvert,
exchange -r substitute the N-tes in wh-le (but n-t in part) int- -r f-r an-ther series -f n-tes -f the Issuer, -r vary the terms -f the N-tes.
Furtherm-re, the Issuer may redeem, c-nvert, exchange -r substitute the N-tes in wh-le (but n-t in part) int- -r f-r an-ther series -f n-tes -f
the Issuer, -r vary the terms -f the N-tes up-n the -ccurrence -f a Rating Meth-d-l-gy Event in acc-rdance with C-nditi-n 6(e).
The N-tes are expected t- be rated BBB+ by Standard & P--r's Credit Market Services Eur-pe Limited (S&P), a rating agency established
in the Eur-pean C-mmunity and registered pursuant t- Regulati-n (EC) N- 1060/2009 -f the Eur-pean Parliament and -f the C-uncil -f 16
September 2009 -n credit rating agencies, amended by Regulati-n (EC) N- 513/2011 -f the Eur-pean Parliament and -f the C-uncil -f 11
March 2011. A rating is n-t a rec-mmendati-n t- buy, sell -r h-ld securities and may be subject t- suspensi-n, reducti-n -r withdrawal at
any time by the assigning rating agency.
The N-tes will initially be represented by a temp-rary gl-bal n-te (the Temp'rary Gl'bal N'te), with-ut interest c-up-ns, which will be
dep-sited -n -r ab-ut 29 August 2012 (the Cl'sing Date) with a c-mm-n safe-keeper f-r Eur-clear Bank SA/NV (Eur'clear) and
Clearstream Banking, s-ciété an-nyme (Clearstream, Luxemb'urg). Interests in the Temp-rary Gl-bal N-te will be exchangeable f-r
interests in a permanent gl-bal n-te (the Permanent Gl'bal N'te and, t-gether with the Temp-rary Gl-bal N-te, the Gl'bal N'tes), with-ut
interest c-up-ns, -n -r after 8 Oct-ber 2012 (the Exchange Date), up-n certificati-n as t- n-n-U.S. beneficial -wnership. Interests in the
Permanent Gl-bal N-te will be exchangeable f-r definitive N-tes -nly in certain limited circumstances. See "Summary %f Pr%visi%ns relating
t% the N%tes while represented by the Gl%bal N%tes".
Pr-spective invest-rs sh-uld have regard t- the risk fact-rs described under the secti-n headed "Risk Fact%rs" in this Pr-spectus, but sh-uld
read the c-mplete Pr-spectus, including the d-cuments inc-rp-rated by reference, t- get a full understanding -f the risks and merits inherent
in an investment in the N-tes.
Capitalised terms used, but n-t defined, in this secti-n can be f-und elsewhere in this Pr-spectus. F-r the page reference -f the definiti-ns -f
capitalised terms used herein see "Index %f Defined Terms". The language -f the Pr-spectus is English. Certain legislative references and
technical terms have been cited in their -riginal language in -rder that the c-rrect technical meaning may be ascribed t- them under
applicable law.
S-le Structuring Advis-r and Arranger
Rab'bank Internati'nal
J-int Lead Managers
Barclays
M'rgan Stanley
Rab'bank Internati'nal
C--Lead Manager
ABN AMRO
The date -f this Pr-spectus is 24 August 2012.
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This pr-spectus c-mprises a pr-spectus f-r the purp-ses -f Article 5.4 -f Directive 2003/71/EC (the
Pr'spectus Directive).
This Pr-spectus is t- be read in c-njuncti-n with all d-cuments which are deemed t- be inc-rp-rated herein
by reference (see "D%cuments Inc%rp%rated by Reference"). This Pr-spectus sh-uld be read and c-nstrued
-n the basis that such d-cuments are inc-rp-rated and f-rm part -f the Pr-spectus.
T- the fullest extent permitted by law, n-ne -f Barclays Bank PLC, C-öperatieve Centrale Raiffeisen-
B-erenleenbank B.A. (Rab-bank Internati-nal) and M-rgan Stanley & C-. Internati-nal plc (t-gether, the
J'int Lead Managers) and ABN AMRO Bank N.V. (the C'-Lead Manager and t-gether with the J-int
Lead Managers, the Managers) accepts resp-nsibility whats-ever f-r the c-ntents -f this Pr-spectus -r f-r
any statement, made -r purp-rted t- be made by a Manager -r -n its behalf in c-nnecti-n with the Issuer -r
the issue and -ffering -f the N-tes. The Managers have n-t independently verified such inf-rmati-n. Each -f
the Managers acc-rdingly disclaims all and any liability whether arising in t-rt -r c-ntract -r -therwise (save
as referred t- ab-ve) which it might -therwise have in respect -f this Pr-spectus -r any such statement.
N- pers-n is -r has been auth-rised by the Issuer t- give any inf-rmati-n -r t- make any representati-n n-t
c-ntained in -r n-t c-nsistent with this Pr-spectus -r any -ther inf-rmati-n supplied in c-nnecti-n with the
-ffering -f the N-tes and, if given -r made, such inf-rmati-n -r representati-n must n-t be relied up-n as
having been auth-rised by the Issuer -r the Managers.
Neither this Pr-spectus n-r any -ther inf-rmati-n supplied in c-nnecti-n with the -ffering -f the N-tes (a) is
intended t- pr-vide the basis -f any credit -r -ther evaluati-n -r (b) sh-uld be c-nsidered as a
rec-mmendati-n by the Issuer -r the Managers that any recipient -f this Pr-spectus -r any -ther inf-rmati-n
supplied in c-nnecti-n with the -ffering -f the N-tes sh-uld purchase the N-tes. Each invest-r
c-ntemplating purchasing any N-tes sh-uld make its -wn independent investigati-n -f the financial
c-nditi-n and affairs, and its -wn appraisal -f the creditw-rthiness, -f the Issuer. Neither this Pr-spectus n-r
any -ther inf-rmati-n supplied in c-nnecti-n with the -ffering -f the N-tes c-nstitutes an -ffer -r invitati-n
by -r -n behalf -f the Issuer -r the Managers t- any pers-n t- subscribe f-r -r t- purchase any N-tes.
Neither the delivery -f this Pr-spectus n-r the -ffering, sale -r delivery -f the N-tes shall in any
circumstances create any implicati-n that there has been n- change in the affairs -f the Issuer -r its affiliates
since the date here-f -r imply that the inf-rmati-n c-ntained herein c-ncerning the Issuer is c-rrect at any
time subsequent t- the date here-f -r that any -ther inf-rmati-n supplied in c-nnecti-n with the -ffering -f
the N-tes is c-rrect as -f any time subsequent t- the date indicated in the d-cument c-ntaining the same.
The Managers expressly d- n-t undertake t- review the financial c-nditi-n -r affairs -f the Issuer during the
life -f the N-tes -r t- advise any invest-r in the N-tes -f any inf-rmati-n c-ming t- their attenti-n.
The N-tes have n-t been and will n-t be registered under the United States Securities Act -f 1933, as
amended, (the Securities Act) and are subject t- U.S. tax law requirements. Subject t- certain excepti-ns,
the N-tes may n-t be -ffered, s-ld -r delivered within the United States -r t- U.S. pers-ns. F-r a further
descripti-n -f certain restricti-ns -n the -ffering and sale -f the N-tes and -n distributi-n -f this d-cument,
see "Subscripti%n and Sale" bel-w.
This Pr-spectus d-es n-t c-nstitute an -ffer t- sell -r the s-licitati-n -f an -ffer t- buy the N-tes in any
jurisdicti-n t- any pers-n t- wh-m it is unlawful t- make the -ffer -r s-licitati-n in such jurisdicti-n. The
distributi-n -f this Pr-spectus and the -ffer -r sale -f N-tes may be restricted by law in certain jurisdicti-ns.
Neither the Issuer n-r the Managers represent that this Pr-spectus may be lawfully distributed, -r that the
N-tes may be lawfully -ffered, in c-mpliance with any applicable registrati-n -r -ther requirements in any
such jurisdicti-n, -r pursuant t- an exempti-n available thereunder, -r assume any resp-nsibility f-r
facilitating any such distributi-n -r -ffering. In particular, n- acti-n has been taken by the Issuer -r the
Managers which is intended t- permit a public -ffering -f the N-tes -r the distributi-n -f this Pr-spectus in
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any jurisdicti-n where acti-n f-r that purp-se is required. Acc-rdingly, n- N-tes may be -ffered -r s-ld,
directly -r indirectly, and neither this Pr-spectus n-r any advertisement -r -ther -ffering material may be
distributed -r published in any jurisdicti-n, except under circumstances that will result in c-mpliance with
any applicable laws and regulati-ns. Pers-ns int- wh-se p-ssessi-n this Pr-spectus -r any N-tes may c-me
must inf-rm themselves ab-ut, and -bserve, any such restricti-ns -n the distributi-n -f this Pr-spectus and
the -ffering and sale -f N-tes. In particular, there are restricti-ns -n the distributi-n -f this Pr-spectus and
the -ffer -r sale -f N-tes in the United States, the Eur-pean Ec-n-mic Area (including the Netherlands and
the United Kingd-m), see "Subscripti%n and Sale".
All references in this d-cument t- eur', Eur' and 5 refer t- the currency intr-duced at the start -f the third
stage -f Eur-pean ec-n-mic and m-netary uni-n pursuant t- the Treaty -n the Functi-ning -f the Eur-pean
Uni-n, as amended.
The N-tes are intended t- be held in a manner which will all-w Eur-system eligibility. This simply means
that the N-tes are intended up-n issue t- be dep-sited with -ne -f the ICSDs (Internati-nal Central Securities
Dep-sitaries) as c-mm-n safekeeper and d-es n-t necessarily mean that the N-tes will be rec-gnised as
eligible c-llateral f-r Eur-system m-netary p-licy and intra-day credit -perati-ns by the Eur-system either
up-n issue -r at any -r all times during their life. Such rec-gniti-n will depend up-n satisfacti-n -f the
Eur-system eligibility criteria.
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______________________________
CONTENTS
Page
Risk Fact-rs..................................................................................................................................................6
D-cuments Inc-rp-rated by Reference........................................................................................................25
Terms and C-nditi-ns -f the N-tes .............................................................................................................26
Use -f Pr-ceeds..........................................................................................................................................39
Summary -f Pr-visi-ns relating t- the N-tes while represented by the Gl-bal N-tes ...................................40
Descripti-n -f the Issuer .............................................................................................................................43
Taxati-n .....................................................................................................................................................49
Subscripti-n and Sale .................................................................................................................................52
General Inf-rmati-n ...................................................................................................................................54
Index -f Defined Terms..............................................................................................................................56
______________________________
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