Obbligazione Bundesregierung 4.25% ( DE0001135325 ) in EUR

Bundesregierung

100 EUR ⇌

Germania

DE0001135325 ( in EUR )

4.25% per anno ( pagato 1 volta l'anno)

04/07/2039

Prospetto opuscolo dell'obbligazione Central government: Federal Republic of Germany DE0001135325 en EUR 4.25%, scadenza 04/07/2039

1 EUR

14 000 000 000 EUR

04/07/2026 ( In 241 giorni )

Il governo federale tedesco è responsabile della politica estera, della difesa, della giustizia e della moneta, oltre ad altre aree di competenza condivise con i Länder.

The Obbligazione issued by Bundesregierung ( Germany ) , in EUR, with the ISIN code DE0001135325, pays a coupon of 4.25% per year.
The coupons are paid 1 time per year and the Obbligazione maturity is 04/07/2039

Publication of the Issuance terms and conditions
for Federal bonds, five-year Federal notes, Federal Treasury notes
and Treasury discount paper of the German Government
of August 1, 2003

The issuance terms and conditions for Federal bonds, five-year Federal notes, Federal
Treasury notes and Treasury discount paper of the German Government as amended in
the publication of December 18, 2003 (Federal Gazette p. 26 139) are amended as follows
as of August 1, 2006:

Issuance terms and conditions for Federal bonds, five-year Federal notes,
Federal Treasury notes and Treasury discount paper
of the German Government

The Federal Republic of Germany hereinafter referred to as the "German Government" issues Federal
bonds, five-year Federal notes, Federal Treasury notes and Treasury discount paper of the German Gov-
ernment (hereinafter referred to as "German Government securities") subject to the following terms:

Volume
also applies if performance is effected under Sec-

tion 193 of the German Civil Code.
Total volume of an issue (amount allotted and
(3) For Federal bonds, five-year Federal notes
amount set aside for secondary market opera-
and Federal Treasury notes, interest and yield are
tions) is stipulated by the German Government af-
calculated by the exact-day method of calculating
ter conclusion of the auction procedure in each
interest. For floating-rate German Government
case. The German Government reserves the right
securities and Treasury discount paper of the
to increase the volume of an issue of German
German Government, interest and yield are calcu-
Government securities by reopening it during the
lated by the act/360 method of calculating interest
time to maturity.

customarily used on the money market.
Nominal amounts

Federal bonds, five-year Federal notes, Federal
Treasury notes and Treasury discount paper of
the German Government have a denomination of
Euro 0.01 and can be assigned and traded at any
nominal amounts.

Interest, maturity, yield

(1) The nominal interest rate, the start of the in-
terest payment period and the maturity of the
German Government securities is specified in
each offer for sale.
(2) For Federal bonds, five-year Federal notes
and Federal Treasury notes, interest is paid an-
nually in arrears; for Treasury discount paper of
the German Government, the interest results from
the difference between the nominal value and the
purchase price. Payment of interest ends at the
end of the day prior to the date of maturity; this

p.t.o.

Redemption

German Government securities are repaid at
nominal value on the specified date of maturity.
Early repayment is not possible.

Eligibility for trusts

German Government securities are eligible for
trusts pursuant to section 1807 (1) number 2 of
the German Civil Code.

Eligibility for investment in premium stock re-
serve

German Government securities are eligible for
the investment of restricted assets pursuant to
section 54 (2) number 2 of the Act on the Super-
vision of Private Insurance Enterprises (VAG).

Eligibly assets

German Government securities are eligible as col-
lateral for the open market and credit operations
of the ESCB in accordance with Article 18.1 of the
Protocol on the Statute of the ESCB and of the
ECB.

Transfer of rights

(1) For the total amount of each issue, a collec-
tive debt register claim for Clearstream Banking
AG Frankfurt will be entered in the Federal Debt
Register (book-entry securities).
(2) The creditors of allotted German Government
securities receive co-ownership rights in the col-
lective debt register claim entered in the Federal
Debt Register.
(3) Throughout the whole life of the German
Government securities, creditors also have the
opportunity of having the amounts purchased en-
tered as individually inscribed debts in their name
in the Federal Debt Register kept by the Federal
Republic of Germany - Finance Agency, Frankfurt
am Main.
(4) No certificates will be issued throughout the
time up to maturity.

Separate trading of registered interest and
Payments

principal of securities (stripping) in the case
(1) All payments of due interest and principal will
of Federal bonds
be made by the Federal Republic of Germany -
(1)
The creditors of certain Federal bonds se-
Finance Agency.
lected by the Federal Government have the right
(2) The creditors' claims are fulfilled at the time of
throughout the life of the bonds to request the in-
crediting to the depositors' accounts or - in the
stitution carrying the safe custody account to have
case of individual Debt Register claims at the
the full amount of their shares in a collective hold-
time of transfer to the accounts designated by the
ing separated (stripped) into principal (principal
creditors concerned.
strip) and individual coupons (coupon strips) by

the Clearstream Banking AG.
Placing
(2) In the case of individual Debt Register claims,

Federal bonds, five-year Federal notes, Federal
stripping is performed directly by the Federal Re-
Treasury notes and Treasury discount paper of
public of Germany - Finance Agency.
the German Government will be issued by auction
(3) Only credit institutions, financial services
through the Auction Group Bund Issues ("Bieter-
institutions, securities trading houses and securi-
gruppe Bundesemissionen"). Such auctions are
ties trading banks are allowed to reconstruct the
governed by the "Auction rules for the issue of
underlying bond from the principal and coupon
Federal bonds, five-year Federal notes, Federal
strips for their own portfolios. For tax reasons,
Treasury notes and Treasury discount paper of
domestic non-banks do not have the right to do
the German Government". Investors can also ac-
so. They have the possibility of selling the strips in
quire German Government securities through
the market and of purchasing the underlying
banks, savings banks and from the Federal Re-
bond.
public of Germany - Finance Agency.
(4) Nominal amounts (principal amounts) of EUR

50,000 or more are required for stripping and re-
Publications
construction. The minimum denomination of prin-

cipal and coupon strips is uniformly EUR 0.01.
(1) The issuance terms and conditions and

amendments to the same are published in the

Federal Gazette.
Listing, secondary market
(2) Current terms applying to German Govern-

ment securities and any deviations from these is-
(1) Federal bonds, five-year Federal notes and
suance terms and conditions are shown in each
Federal Treasury notes are listed for first segment
offer for sale, which will also be announced by the
trading at the German stock exchanges.
Deutsche Bundesbank by press releases and
(2) The separate principal and coupon strips of
through public wire services.
strippable Federal bonds and listed only for trad-

ing at the Frankfurt stock exchange.

(3) After stock market listing, the German Gov-
ernment will conduct price management opera-

tions appropriate for the capital market situation
Berlin, July 13, 2006
within reasonable and justifiable limits except for
VII A 2 WK 2311/0
principal and coupon strips.
Federal Ministry of Finance
By order

Holters