Bond UniCredit Austria AG 5.205% ( XS0337204753 ) in EUR

Issuer UniCredit Austria AG
Market price 100 %  ▲ 
Country  Austria
ISIN code  XS0337204753 ( in EUR )
Interest rate 5.205% per year ( payment 1 time a year)
Maturity 20/12/2022 - Bond has expired



Prospectus brochure of the bond UniCredit Bank Austria AG XS0337204753 in EUR 5.205%, expired


Minimal amount 50 000 EUR
Total amount 10 000 000 EUR
Detailed description UniCredit Bank Austria AG is a leading Austrian bank offering a wide range of financial services to individuals and corporations, including retail banking, corporate and investment banking, and asset management.

The Bond issued by UniCredit Austria AG ( Austria ) , in EUR, with the ISIN code XS0337204753, pays a coupon of 5.205% per year.
The coupons are paid 1 time per year and the Bond maturity is 20/12/2022







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PROSPECTUS
(incorporated with limited liability under the laws of the Republic of Austria)
¤ 20,000,000,000
EURO MEDIUM TERM NOTE PROGRAMME
FOR THE ISSUE OF NOTES INCLUDING PFANDBRIEFE AND JUMBO-PFANDBRIEFE
DUE FROM ONE MONTH TO 40 YEARS FROM THE DATE OF ISSUE
Bank Austria Creditanstalt AG (the "Issuer"), subject to compliance with all relevant laws, regulations and directives, may from time to time issue Euro
Medium Term Notes including Pfandbriefe and Jumbo-Pfandbriefe (the "Notes") denominated in such currencies as may be agreed with the Purchaser(s) (as defined
below). The Notes will have maturities from one month to 40 years from the date of issue (except as set out herein) and, subject as set out herein, the maximum
aggregate nominal amount of all Notes from time to time outstanding will not exceed ¤ 20,000,000,000 (or its equivalent in other currencies at the time of agreement
to issue, subject as further set out herein).
The Notes may be issued on a continuing basis to one or more of the Dealers specified on page 7 (each, a "Dealer" and together, the "Dealers", which
expressions shall include any additional Dealer appointed under this ¤ 20,000,000,000 Euro Medium Term Note Programme (the "Programme") from time to time).
Notes may also be issued directly by the Issuer to persons other than Dealers. Dealers and such other persons are referred to as "Purchasers".
Application has been made to the Luxembourg Stock Exchange for Notes issued under the Programme during the period of 12 months from the date of
this document to be admitted to trading on the Regulated Market of the Luxembourg Stock Exchange's and to be listed on the official list of the Luxembourg Stock
Exchange; consequently this Prospectus is only valid in respect of the issuance of Notes intended to be listed on the Luxembourg Stock Exchange for a period of 12
months from the date of publication of this document.
Reference in this Prospectus to Notes being "listed" in Luxembourg (and all related references) shall, for the purposes of Directive 2003/71/EC (the
"Prospectus Directive"), mean that such Notes have been admitted to trading on the Regulated Market of the Luxembourg Stock Exchange and have been listed on
the official list of the Luxembourg Stock Exchange. The Regulated Market of the Luxembourg Stock Exchange is a regulated market for the purposes of Directive
2004/39/EC.
Notice of the aggregate nominal amount or principal amount of, the interest (if any) payable in respect of, the issue price of, and any other matters not
contained herein which are applicable to each Tranche of Notes will be set out in the final terms (the "Final Terms") which, with respect to Notes to be listed on the
official list of the Luxembourg Stock Exchange, will be delivered to the relevant authorities in Luxembourg. Each Final Terms will contain the final terms of each
Tranche of Notes for the purposes of Article 5.4 of the Prospectus Directive.
Notes may, after notification in accordance with Article 18 of the Prospectus Directive, be admitted to trading on the regulated markets of and/or admitted
to listing on the stock exchanges of one or more member states of the European Economic Area and/or publicly offered within the European Economic Area. The
Issuer has requested the Commission de Surveillance du Secteur Financier ("CSSF") as the competent authority in Luxembourg for approving this Prospectus to
provide each of the Financial Markets Authority (Finanzmarktaufsicht) ("FMA") being the competent authority in the Republic of Austria as well as the respective
competent authorities in each of the United Kingdom, Germany and the Republic of Ireland with a certificate of approval attesting that this Prospectus has been
drawn up in accordance with the Prospectus Directive. The Issuer may request the CSSF to provide certificates of approval to competent authorities in additional
European Economic Area states. The Issuer may also issue unlisted Notes and/or Notes not admitted to trading on any market.
The Issuer may agree with any Dealer and the Agent (as defined below) that Notes may be issued in a form not contemplated by the Terms and Conditions
of the Notes herein, in which event (in the case of Notes intended to be listed on the official list of the Luxembourg Stock Exchange or offered publicly) a supplement
to the Prospectus, if appropriate, will be made available which will describe the effect of the agreement reached in relation to such Notes.
Subject as set out herein, this Prospectus and any supplement hereto will only be valid for listing Notes if the aggregate of the principal amount of those
Notes and all Notes outstanding as at the date of issue of those Notes did not exceed ¤ 20,000,000,000 (or its equivalent in the other currencies specified herein)
outstanding at any one time, calculated by reference to the Exchange Rate prevailing at the Agreement Date (each as defined below). For the purpose of calculating
the euro equivalent of the nominal amount of Notes outstanding under the Programme from time to time, the euro equivalent of Notes denominated in another
Specified Currency (as defined in the applicable Final Terms) shall be determined as of the date on which agreement is reached for the issue of such Notes which, in
the case of an underwritten issue or otherwise in relation to which a letter for an underwritten issue is entered into, shall be the date upon which the relevant letter
for an underwritten issue is signed by or on behalf of all the parties (the "Agreement Date") on the basis of the Exchange Rate on such date. As used herein, the
"Exchange Rate" against the euro for any currency means the spot rate for the sale of the euro against the purchase of such currency in the London foreign exchange
market quoted by any leading bank selected by the Issuer on the Agreement Date. The euro equivalent of Dual Currency Notes, Index-Linked Notes, Zero Coupon
Notes or other Notes issued at a discount or a premium shall be calculated in the manner specified above by reference to the original nominal amount of any particular
issue. The nominal amount of Partly Paid Notes will be taken into account regardless of the amount of the subscription price paid.
This Prospectus constitutes:
(i)
a base prospectus in respect of Notes other than Pfandbriefe and Jumbo-Pfandbriefe for the purposes of Article 5.4(a)
of the Prospectus Directive; and
(ii)
a base prospectus in respect of Pfandbriefe and Jumbo-Pfandbriefe for the purposes of Article 5.4(b) of the Prospectus
Directive.
This Prospectus has been approved by and filed with the CSSF and has been published on 8 November 2007 in
electronic form on the website of the Luxembourg Stock Exchange (www.bourse.lu) and on the website of the Issuer (www.ba-
ca.com). This Prospectus replaces the Prospectus dated 25 October, 2006.
Arranger
LEHMAN BROTHERS
Dealers
ABN AMRO
BANCO BILBAO VIZCAYA ARGENTARIA S.A.
BARCLAYS CAPITAL
DEUTSCHE BANK
FORTIS BANK
GOLDMAN SACHS INTERNATIONAL
JPMORGAN
LEHMAN BROTHERS
MORGAN STANLEY
RBC CAPITAL MARKETS
UBS INVESTMENT BANK
UNICREDIT GROUP (BA-CA)
UNICREDIT GROUP (HVB)
The date of this Prospectus is 8 November 2007


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The purpose of this Prospectus is to give information with regard to the Issuer, the Issuer and its
subsidiaries and the Notes. The Issuer is solely responsible for the information given in this Prospectus. To
the best of the knowledge of the Issuer, having taken all reasonable care to ensure that such is the case, the
information contained in this Prospectus is in accordance with the facts and contains no omission likely to
affect its import.
This Prospectus is to be read in conjunction with any supplement to the Prospectus and with all the
documents which are incorporated herein by reference (see "Documents Incorporated By Reference" on
page 36). This Prospectus shall be read and construed on the basis that such documents are so incorporated
and form part of this Prospectus.
The Dealers have not separately verified the information contained herein. Accordingly, no
representation, warranty or undertaking, express or implied, is made and no responsibility is accepted by the
Dealers (other than the Issuer) as to the accuracy or completeness of the financial or other information
contained in or incorporated by reference into this Prospectus, or any other financial statements or any
further information supplied in connection with the Programme or the Notes or their distribution. The
statements made in this paragraph are without prejudice to the responsibility of the Issuer under the
Programme.
No person is or has been authorised to give any information or to make any representation not
contained in or not consistent with this Prospectus or any other financial statements or further information
supplied in connection with the Programme or the Notes and, if given or made, such information or
representation must not be relied upon as having been authorised by the Issuer or by any of the Dealers.
Neither this Prospectus nor any other financial statements nor any further information supplied in
connection with the Programme or the Notes are intended to provide the basis of any credit or other
evaluation and should not be considered as a recommendation by the Issuer or any of the Dealers that any
recipient of this Prospectus or any other financial statements or any further information supplied in
connection with the Programme or the Notes should purchase any of the Notes. Each investor contemplating
purchasing Notes should make its own independent investigation of the financial condition and affairs, and
its own appraisal of the creditworthiness, of the Issuer. None of this Prospectus, any other financial
statements or any further information supplied in connection with the Programme or the Notes constitutes
an offer or invitation by or on behalf of the Issuer, the Dealers or any of them to any person to subscribe for
or to purchase any of the Notes.
The delivery of this Prospectus does not at any time imply that the information contained herein
concerning the Issuer is correct at any time subsequent to the date hereof or that any other financial
statements or any further information supplied in connection with the Programme or the Notes is correct as
of any time subsequent to the date indicated in the document containing the same. The Dealers expressly do
not undertake to review the financial condition or affairs of the Issuer or any of its subsidiaries during the
life of the Programme. Investors should review, inter alia, the most recent financial statements of the Issuer
when deciding whether or not to purchase any of the Notes.
Prospective investors should inform themselves as to the legal requirements and tax consequences
within their country of residence for the acquisition, holding or disposition of Notes. Prospective investors
are also required to inform themselves about any tax consequences which may apply to them arising from
the implementation of EU Council Directive 2003/48/EC of 3 June, 2003 on the taxation of savings income,
further particulars of which are set out in "Taxation".
The Issuer and the Dealers do not represent that this document may be lawfully distributed, or that
the Notes may be lawfully offered, in compliance with any applicable registration or other requirements in
any jurisdiction, or pursuant to an exemption available thereunder, or assume any responsibility for
facilitating any such distribution or offering. In particular, save as specified in this Prospectus, no action has
been taken by the Issuer or the Dealers which would permit a public offering of the Notes or distribution of
this document in any jurisdiction where action for that purpose is required. Accordingly, the Notes may not
be offered or sold, directly or indirectly, and neither this Prospectus nor any advertisement or other offering
material may be distributed or published in any jurisdiction, except under circumstances that will result in
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compliance with any applicable laws and regulations and the Dealers have represented that all offers and
sales by them will be made on the same terms.
The distribution of this Prospectus and the offer or sale of the Notes may be restricted by law in
certain jurisdictions. Persons into whose possession this Prospectus or any Notes come must inform
themselves about, and observe, any such restrictions. In particular, there are restrictions on the distribution
of this Prospectus and/or the offer or sale of the Notes in the United States, the United Kingdom, the
European Economic Area, Japan, South Africa, and Hong Kong (see "Subscription and Sale" on page 323).
The Notes have not been and will not be registered under the United States Securities Act of 1933, as
amended (the "Securities Act") and include Notes in the bearer form that are subject to U.S. tax law
requirements. The Notes may not be offered, sold or delivered within the United States or to US persons (as
defined in Regulation S under the Securities Act ("Regulation S")) except in certain transactions permitted
by US tax regulations and the US Securities Act. For a more complete description of restrictions on offers
and sales and applicable US tax law requirements, see "Subscription and Sale" on page 323.
In this Prospectus, references to "EUR" are to euro, references to "$", "U.S.$" and "U.S. dollars"
are to United States dollars, references to "£" and "Sterling" are to pounds sterling and references to "¥"
and "yen" are to Japanese yen.
References in this Prospectus to Notes include (other than as may otherwise be specified or the context
otherwise requires and other than in the Terms and Conditions of Notes, Terms and Conditions of
Pfandbriefe and Terms and Conditions of Jumbo-Pfandbriefe) Pfandbriefe and Jumbo-Pfandbriefe.
References to Pfandbriefe (other than in the Terms and Conditions of Pfandbriefe and Terms and Conditions
of Jumbo-Pfandbriefe) include Jumbo-Pfandbriefe.
In connection with the issue of any Tranche of Notes, the Dealer or Dealers (if any) named as the
Stabilising Manager(s) (or persons acting on behalf of any Stabilising Manager(s)) in the applicable Final
Terms may over-allot Notes (provided that, in the case of any Tranche of Notes to be admitted to trading on
a regulated market in the European Economic Area, the aggregate principal amount of Notes allotted does
not exceed 105 per cent. of the aggregate principal amount of the relevant Tranche) or effect transactions
with a view to supporting the market price of the Notes at a level higher than that which might otherwise
prevail. However, there is no assurance that the Stabilising Manager(s) (or persons acting on behalf of a
Stabilising Manager) will undertake stabilisation action. Any stabilisation action may begin on or after the
date on which adequate public disclosure of the terms of the offer of the relevant Tranche of Notes is made
and, if begun, may be ended at any time, but it must end no later than the earlier of 30 days after the issue
date of the relevant Tranche of Notes and 60 days after the date of the allotment of the relevant Tranche of
Notes. Any stabilisation action or over-allotment shall be conducted by the relevant Stabilising Manager(s)
(or person(s) acting on behalf of any Stabilising Manager(s)) in accordance with all applicable laws and
rules.
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TABLE OF CONTENTS
Page
Summary of the Programme ........................................................................................................
5
General Description of the Programme ........................................................................................
14
Risk Factors ..................................................................................................................................
27
Documents Incorporated by Reference ........................................................................................
36
Form of the Notes ........................................................................................................................
37
Terms and Conditions of the Notes ..............................................................................................
40
·
Part A: Terms and Conditions of the Notes (other than Pfandbriefe and
Jumbo-Pfandbriefe) ............................................................................................................
41
·
Part B: Terms and Conditions of Pfandbriefe ....................................................................
101
·
Part C: Terms and Conditions of Jumbo-Pfandbriefe ........................................................
117
Form of the Final Terms ..............................................................................................................
233
Use of Proceeds ............................................................................................................................
312
Bank Austria Creditanstalt ..........................................................................................................
313
Taxation ........................................................................................................................................
320
Subscription and Sale....................................................................................................................
323
General Information......................................................................................................................
327
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SUMMARY OF THE PROGRAMME
This summary must be read as an introduction to this Prospectus and any decision to invest in the
Notes should be based on a consideration of the Prospectus as a whole, including the documents incorporated
by reference. Following the implementation of the relevant provisions of the Prospectus Directive in each
Member State of the European Economic Area no civil liability will attach to the Issuer in any such Member
State solely on the basis of this summary, including any translation thereof, unless it is misleading, inaccurate
or inconsistent when read together with the other parts of this Prospectus. Where a claim relating to the
information contained in this Prospectus is brought before a court in a Member State of the European
Economic Area, the plaintiff may, under the national legislation of the Member State where the claim is
brought, be required to bear the costs of translating the Prospectus before the legal proceedings are initiated.
Description:
Continuously offered Euro Medium Term Note Programme.
Issuer:
The Issuer was formed in 1991, as the merged entity of
Zentralsparkasse und Kommerzialbank AG
Wien, and
Österreichische Länderbank Aktiengesellschaft. In 1997, it acquired
Creditanstalt AG and on 13 August, 2002, Creditanstalt AG merged
into Bank Austria Aktiengesellschaft, which assumed on the
occasion of this merger the name "Bank Austria Creditanstalt AG".
In 2000, Bank Austria Aktiengesellschaft and Creditanstalt AG
became part of the German based Bayerische Hypo- und
Vereinsbank (HVB) group (the "HVB Group"). After proposals
were made to the shareholders of HVB and the Issuer, the Issuer
became a member of UniCredit group on 17 November 2005.
At the extraordinary general meeting of shareholders of HVB held
on 25 October 2006, a resolution was adopted to transfer HVB's
77.53% shareholding interest in Bank Austria Creditanstalt AG
(BA-CA) to UniCredit. The transaction was approved by the
competent authorities. On 9 January 2007, 113,989,900 shares were
transferred to UniCredit.
The Issuer operates as a universal bank throughout its core region of
Austria and the countries of Central and Eastern Europe (CEE). The
Issuer is one of the foremost providers of banking services in
Austria. In CEE, the Issuer plays a leading role and operates one of
the largest banking networks. In addition, it has access to the
international network of the UniCredit Group in the world's key
financial centres.
Risk Factors:
There are certain risks associated with investing in the Notes. In
particular, investors are relying upon the creditworthiness of the
Issuer. The terms of the Notes may contain particular risks for
investors, including the availability of early redemption of the Notes
or conversion of the interest payable on the Notes to a fixed rate
from a floating rate or vice versa. The market generally may also
present a risk to investors where there is no established market for
the Notes or where the true rate of return on the Notes is affected by
exchange rates or variations between the currency used by the
investor and the currency of denomination of the Notes.
Financial Information:
The consolidated audited balance sheets of the Issuer as at 31
December 2006 and 31 December 2005, the consolidated audited
income statements and cash flow statements of the Issuer for the
period from 1 January 2006 to 31 December 2006 and from 1
January 2005 to 31 December 2005 together with applicable
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accounting policies and explanatory notes and the interim results of
the Issuer for the period from 1 January 2007 to 30 June 2007 are
incorporated by reference into this Prospectus, see further
"Documents Incorporated by Reference", below.
Directors and Senior Management: Managing Board
As at the date of this Prospectus the Board of Management consists
of the following members:
Erich Hampel
Chairman and Chief Executive Officer
Willibald Cernko
Board Member until 31 December 2007
Thomas Groß
Board Member and Chief Risk Officer
Wilhelm Hemetsberger
Board Member
Werner Kretschmer
Board Member
Federico Ghizzoni
Board Member
Ralph Müller
Board Member by 1 January 2008
(dependent upon the appointment by the
Issuer's Supervisory Board)
Regina Prehofer
Board Member
Carlo Vivaldi
Board Member and Chief Financial
Officer
Robert Zadrazil
Board Member
Supervisory Board
As at the date of this Prospectus the Supervisory Board consists of
the following members:
Alessandro Profumo
Chairman
Franz Rauch
Deputy Chairman
Vincenzo Calandra
Buonaura
Member
Sergio Ermotti
Member
Paolo Fiorentino
Member
Dario Frigerio
Member
Roberto Nicastro
Member
Vittorio Ogliengo
Member
Karl Samstag
Member
Gerhard Scharitzer
Member
Wolfgang Sprißler
Member
Wolfgang Heinzl
Employees' Representative
Martina Icha
Employees' Representative
Heribert Kruschik
Employees' Representative
Adolf Lehner
Employees' Representative
Emmerich Perl
Employees' Representative
Josef Reichl
Employees' Representative
Advisers and Auditors:
The legal adviser to the Issuer as to Austrian law is Dr. Herbert
Pichler of Bank Austria Creditanstalt AG, Schottengasse 6-8, A-
1010 Vienna, Austria. The legal adviser to the Managers as to
English and Austrian law is Freshfields Bruckhaus Deringer of 65
Fleet Street, London EC4Y 1HS England.
The auditors of the Issuer are Savings Bank Auditing Association
Auditing Board, Grimmelshausengasse 1, A-1030 Vienna and
KPMG Wirtschaftsprüfungs- und Steuerberatungs GmbH,
Porzellangasse 51, A-1090 Vienna.
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Offer Statistics and Expected
The offer statistics and expected issue date and other details in
Timetable:
respect of any offering of any Series of Notes will be set out in the
applicable Final Terms.
Use of Proceeds:
The proceeds of sale of Notes will be used for the general financing
purposes of the Issuer.
Documents on Display:
Copies of (i) the articles of association of the Issuer, (ii) the
financial statements of the Issuer in respect of the financial years
ended 31st December, 2006 and 2005, and (iii) any supplements to
this Prospectus and the documents incorporated herein by reference
(including the Final Terms) will be available for inspection and
collection from, and copies of the Agency Agreement as amended
and supplemented (incorporating the forms of the temporary global
Note, permanent global Note and definitive Notes), the Programme
Agreement as amended and supplemented and the Deed of
Covenant will be available for inspection at, the principal office of
the Luxembourg Listing Agent in Luxembourg.
Arranger:
Lehman Brothers International (Europe).
Dealers:
ABN AMRO Bank N.V.
Bank Austria Creditanstalt AG
Banco Bilbao Vizcaya Argentaria, S.A.
Barclays Bank PLC
Bayerische Hypo- und Vereinsbank AG
Deutsche Bank Aktiengesellschaft
Fortis Bank NV-SA
Goldman Sachs International
J.P. Morgan Securities Ltd.
Lehman Brothers International (Europe)
Morgan Stanley & Co. International plc
Royal Bank of Canada Europe Limited
UBS Limited
Issuing and Principal Paying
The Bank of New York. As set out in the Agency Agreement, Bank
Agent and Agent Bank:
Austria Creditanstalt AG may also act as the agent for the purpose
of issuing Pfandbriefe to be deposited for clearing with
Oesterreichische Kontrollbank AG.
Luxembourg Listing Agent:
Dexia Banque Internationale à Luxembourg.
Vienna Listing Agent and Paying
Bank Austria Creditanstalt AG. As set out in the Agency Agreement,
Agent:
Bank Austria Creditanstalt AG may also act as the agent for the
purpose of issuing Pfandbriefe to be deposited for clearing with
Oesterreichische Kontrollbank AG.
Amount:
Up to 20,000,000,000 (or its equivalent in other currencies
calculated on the Agreement Date) outstanding at any one time.
Under the Programme Agreement, the nominal amount of Notes
outstanding under the Programme may be increased, subject to the
satisfaction of certain conditions set out therein.
Currencies:
U.S. dollars, euro, Australian dollars, Canadian dollars, Czech
crown, Danish kroner, Hong Kong dollars, Japanese yen, New
Zealand dollars, Norwegian kroner, South African rand, Sterling,
Swedish kronor and Swiss francs and such other currency or
currencies, subject to compliance with all relevant laws, regulations
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and directives, as may be agreed between the Issuer and the relevant
Purchaser(s).
Maturities:
Any maturity between one month and 40 years. Notes denominated
or payable in Sterling must comply with all applicable Bank of
England regulations and guidelines from time to time. Notes issued
under the Programme will not have a minimum maturity which is
less than the minimum maturity or a maximum maturity which is
more than the maximum maturity which may be allowed or required
from time to time by the relevant central bank (or equivalent body
(however called)) or any laws or regulations applicable to the
relevant currency or currencies.
Description of Notes:
Notes may be either interest bearing at fixed or variable rates or
non-interest bearing, with principal repayment at a fixed amount or
by reference to a formula or by delivery of shares, bonds, fund units
or other assets, as may be specified in the applicable Final Terms.
The Issuer may have the right to call the Notes prior to maturity, if
indicated in the applicable Final Terms. Jumbo-Pfandbriefe will
only be issued on a fixed rate of interest basis, as specified in the
applicable Final Terms. Notes (other than Pfandbriefe or Jumbo-
Pfandbriefe) may also be issued in new global Note (NGN) form.
Issue Price:
Notes may be issued at par or at a discount to, or premium over, par
and either on a fully paid or partly paid basis.
Fixed Rate Notes:
Fixed rate interest will be payable in arrear (unless otherwise
specified in the applicable Final Terms) on such days(s) as agreed
between the Issuer and the relevant Purchaser(s).
Interest will be calculated on the basis of such Day Count Fraction
as may be specified in the applicable Final Terms.
Floating Rate Notes:
Floating Rate Notes will bear interest at a rate determined:
(i)
on the same basis as the floating rate under a notional interest
rate swap transaction in the relevant Specified Currency
governed by an agreement incorporating the 2006 ISDA
Definitions (as published by the International Swaps and
Derivatives Association, Inc., and as amended and updated as
at the Issue Date of the first Tranche of the Notes of the
relevant Series); or
(ii)
on the basis of a reference rate appearing on the agreed
screen page of a commercial quotation service; or
(iii) on such other basis as indicated in the applicable Final
Terms.
The margin (if any) relating to such floating rate will be agreed
between the Issuer and the relevant Dealer for each Series of
Floating Rate Notes as specified in the applicable Final Terms.
Floating Rate Notes may have a maximum interest rate, a minimum
interest rate, or both, as specified in the applicable Final Terms.
Change of Interest Basis:
Notes may be converted from one Interest Basis to another if so
provided in the applicable Final Terms.
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Interest Periods for Floating Rate
One, two, three, six or twelve months or such other period(s) as the
Notes:
Issuer and the relevant Purchaser(s) may agree as indicated in the
applicable Final Terms.
Dual Currency Notes:
Payments (whether in respect of principal or interest and whether at
maturity or otherwise) in respect of Dual Currency Notes will be
made in such currencies, and based upon such rates of exchange, as
the Issuer and the relevant Purchaser(s) may agree as indicated in
the applicable Final Terms.
Index-Linked Notes:
Payments (whether in respect of principal or interest and whether at
maturity or otherwise) in respect of Index-Linked Notes will be
calculated by reference to such Index or Index Basket and/or
Formula as the Issuer and the relevant Purchaser(s) may agree as
indicated in the applicable Final Terms.
Credit-Linked Notes:
Notes relating to an underlying asset(s) may be issued as indicated
in the applicable Final Terms. Each issue of Credit-Linked Notes
will either (i) have a minimum denomination of EUR 50,000 or (ii)
be sold for a total consideration of not less than 50,000 per
investor (or in each case its equivalent in the currency of such Notes
at the time of their issue) and will only be marketed and sold to
qualified investors (as defined in Article 2(1)(e) of the Prospectus
Directive) or otherwise in circumstances that do not constitute an
offer to the public for the purposes of the Directive.
The Issuer may redeem the Notes in cash calculated as set out in the
applicable Final Terms or, if physical delivery is specified in the
applicable Final Terms, by the delivery of certain underlying
reference items or in the case of partial cash settlement will be a
combination of a payment of cash and the delivery of certain
underlying reference items.
Target Redemption Notes:
Target Redemption Notes may offer a floating rate of interest or a
combination of fixed and floating interest rates with the aggregate
amount of interest to be paid under the Notes limited by an overall
maximum rate of interest as specified in the applicable Final Terms.
If the aggregate amount of interest to be paid under the Notes equals
or exceeds the overall maximum interest rate the Notes will be
redeemed early at their nominal amount or at an early redemption
amount as specified in the relevant Final terms. Should the Notes
not yield the overall maximum rate of interest prior to the last
Interest Period, the Notes will be redeemed at their nominal amount
on the maturity date.
Range Accrual Notes:
Range Accrual Notes bear interest if a certain reference rate does
not equal or exceed or fall below certain parameters, as specified in
the applicable Final Terms.
Step up/step down Notes:
Step up/step down Notes are Notes which bear fixed interest at
varying rates, such rates being lesser or greater than the rates
applicable to the previous interest payment periods, as specified in
the applicable Final terms.
CMS-linked Notes:
Constant Maturity Swap linked Notes ("CMS-linked Notes") offer
a floating rate of interest which is determined by reference to certain
swap rates specified in the applicable final terms.
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Zero Coupon Notes:
Zero Coupon Notes may be offered and sold at a discount to their
nominal amount and will not bear interest other than in relation to
interest due after the Maturity Date.
Notes linked to Rates:
Payments of interest and principal in respect of Notes may be linked
to a fixed or variable reference interest or other rate determined on
one or more dates, as specified in the applicable Final Terms.
Notes linked to Shares:
Payments of interest in respect of Notes and redemptions of Notes
by way of payment of a certain amount or delivery of shares may be
linked to the trading price of shares or the value of a share basket or
the value of shares contained in a share basket on one or more dates,
as specified in the applicable Final Terms.
Notes linked to Bonds:
Payments of interest in respect of Notes and redemptions of Notes
by way of payment of a certain amount or delivery of bonds may be
linked to the trading price of bonds or the value of a bond basket on
one or more dates, as specified in the applicable Final Terms.
Notes linked to Funds:
Payments of interest in respect of Notes and redemptions of Notes
by way of payment of a certain amount or delivery of fund units
may be linked to the trading price or the net asset value of a fund or
a basket or portfolio of funds on one or more dates, as specified in
the applicable Final Terms.
Notes linked to Currencies:
Payments of interest in respect of Notes and principal in respect of
Notes may be linked to the exchange rate of one or more currencies
against one or more other currencies on one or more dates, as
specified in the applicable Final Terms.
Notes linked to Commodities:
Payments of interest in respect of Notes and principal in respect of
Notes may be linked to the price of one or more commodities as traded
on certain commodity exchanges or as quoted by certain entities on
one or more dates, as specified in the applicable Final Terms.
Inflation linked Notes:
Notes may be based on an inflation index and thereby entitle the
holder to payment of interest and/or a redemption amount based on
the value of an underlying inflation index on one or more dates, as
specified in the applicable Final Terms.
Instalment Notes:
Instalment Notes are Notes where repayment of principal is made in
instalments as specified in the applicable Final Terms.
Cash or Share Notes:
Cash or Share Notes are repaid at maturity either at their nominal
amount or by delivery of a specific number of shares, as specified
in the applicable Final Terms.
Other Instruments:
Instruments may be of any other type of security, including
combinations of the above mentioned features, which the Issuer and
the relevant Dealer(s), if any, may agree. The terms governing any
such Instruments will be specified in the applicable Final Terms.
Pfandbriefe:
Pfandbriefe may be issued by the Issuer as Mortgage Pfandbriefe
(Hypothekenpfandbriefe) or as Public Sector Pfandbriefe
(Öffentliche Pfandbriefe). Mortgage and Public Sector Pfandbriefe
constitute recourse obligations of the Issuer. They are covered by
separate pools of mortgage loans (in the case of Mortgage
Pfandbriefe) or public loans (in the case of Public Sector
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