Obbligazione Deutsch Bank AG 3.495% ( DE000DB7UPM9 ) in EUR

Deutsch Bank AG

100 EUR ▼

Germania

DE000DB7UPM9 ( in EUR )

3.495% per anno ( pagato 1 volta l'anno)

29/04/2011 - Obbligazione è scaduto

Prospetto opuscolo dell'obbligazione DEUTSCHE BANK AG DE000DB7UPM9 in EUR 3.495%, scaduta

Deutsche Bank AG è una delle maggiori banche tedesche, attiva a livello globale nei servizi finanziari, tra cui la gestione patrimoniale, l'investment banking e il credito commerciale.

The Obbligazione issued by Deutsch Bank AG ( Germany ) , in EUR, with the ISIN code DE000DB7UPM9, pays a coupon of 3.495% per year.
The coupons are paid 1 time per year and the Obbligazione maturity is 29/04/2011

Base Prospectus
22 August 2008

Deutsche Bank Aktiengesellschaft
(Frankfurt am Main, Germany)
Euro 50,000,000,000
Debt Issuance Programme
Application has been made to list the notes (the "Notes") to be issued under this Debt Issuance
Programme (as defined herein) on the Regulated Market "Bourse de Luxembourg" of the Luxembourg
Stock Exchange, which is a regulated market within the meaning of the Markets and Financial Instruments
Directive 2004/39/EC. Notes issued under the Programme may also be listed on the exchange regulated
market operated by the Luxembourg Stock Exchange, "Euro MTF", other or further stock exchanges or
may not be listed at all.
Deutsche Bank Aktiengesellschaft (the "Issuer") has requested the Commission de Surveillance du
Secteur Financier of the Grand Duchy of Luxembourg (the "CSSF") in its capacity as competent authority
under the Luxembourg act relating to prospectuses for securities (Loi relative aux prospectus pour valeurs
mobilières) to provide the competent authorities in Austria, Belgium, Denmark, France, the Federal
Republic of Germany, The United Kingdom of Great Britain and Northern Ireland, Ireland, Italy and The
Netherlands with a certificate of approval attesting that the Prospectus has been drawn up in accordance
with the Loi relative aux prospectus pour valeurs mobilières which implements the Directive 2003/71/EC
(the "Prospectus Directive") of the European Parliament and of the Council of 4 November 2003 into
Luxembourg law ("Notification"). The Issuer may request the CSSF to provide competent authorities in
additional Member States within the European Economic Area with a Notification.
Arranger
Deutsche Bank
This document comprises a Base Prospectus for the purpose of article 5.4 of the Prospectus Directive.
This Base Prospectus (the "Prospectus") will be published in electronic form on the website of the
Luxembourg Stock Exchange (www.bourse.lu) and on the website (www.db.com/ir) of the Issuer. This
Prospectus replaces the base prospectus dated 22 August 2007.

1

RESPONSIBILITY STATEMENT
Deutsche Bank Aktiengesellschaft (together with its subsidiaries and affiliates "Deutsche Bank") with its
registered office in Frankfurt is solely responsible for the information given in this Prospectus. The Issuer
hereby declares that, having taken all reasonable care to ensure that such is the case, the information
contained in this Prospectus is, to the best of its knowledge, in accordance with the facts and contains no
omission likely to affect its import.
NOTICE
This Prospectus should be read and understood in conjunction with any supplement hereto and with any
other documents incorporated herein by reference. Full information on the Issuer and any tranche of Notes
is only available on the basis of the combination of the Prospectus and the relevant Final Terms (as
defined herein).
Deutsche Bank has confirmed and will confirm to the Dealers (as defined herein), that this Prospectus is
true, accurate and complete in all material respects and is not misleading; that any opinions and intentions
expressed by each of them therein are honestly held and based on reasonable assumptions; that there
are no other facts with respect to Deutsche Bank the omission of which would make this Prospectus as a
whole or any statement therein or opinions or intentions expressed therein misleading in any material
respect; and that all reasonable enquiries have been made to verify the foregoing.
No person has been authorised to give any information or to make any representations, other than those
contained in this Prospectus, in connection with the issue and sale of the Notes and, if given or made,
such information or representations must not be relied upon as having been authorised by Deutsche Bank.
Neither the delivery of this Prospectus nor any sale made hereunder shall, under any circumstances,
create any implication that the information herein is correct as of any time subsequent to the date hereof.
This Prospectus is valid for 12 months following its date of publication and it and any supplement thereto
as well as any Final Terms reflect the status as of their respective dates of issue. The offering, sale or
delivery of any Notes may not be taken as an implication that the information contained in such documents
is accurate and complete subsequent to their respective dates of issue or that there has been no adverse
change in the financial condition of the Issuer since such date or that any other information supplied in
connection with the Programme is correct at any time subsequent to the date on which it is supplied or, if
different, the date indicated in the document containing the same.
The Issuer has undertaken for the benefit of any Dealer to supplement this Prospectus or publish a new
Prospectus if and when the information herein should become materially inaccurate or incomplete and has
further agreed with the Dealers to furnish a supplement to the Prospectus in the event of any significant
new factor, material mistake or inaccuracy relating to the information included in this Prospectus which is
capable of affecting the assessment of the Notes and which arises or is noted between the time when this
Prospectus has been approved and the final closing of any tranche of Notes offered to the public or, as the
case may be, when trading of any tranche of Notes on a regulated market begins, in respect of Notes
issued on the basis of this Prospectus.
Neither the Dealer nor any person mentioned in this Prospectus, excluding the Issuer, is responsible for
the information contained in this Prospectus, any document incorporated herein by reference, or any
supplement thereof, or any Final Terms and accordingly, and to the extent permitted by the laws of any
relevant jurisdiction, none of these persons accepts any responsibility for the accuracy and completeness
of the information contained in any of these documents.
The distribution of this Prospectus, any document incorporated herein by reference and any Final Terms
and the offering, sale and delivery of the Notes in certain jurisdictions may be restricted by law. Persons
into whose possession this Prospectus or any Final Terms come are required to inform themselves about
and to observe any such restrictions see "Selling Restrictions". In particular, Notes have not been and will
2

not be registered under the United States Securities Act of 1933 (as amended) and may include Notes in
bearer form which are subject to U. S. tax law requirements. Subject to certain exceptions, Notes may not
be offered, sold or delivered within the United States of America or to U. S. persons.
The language of the Prospectus is English. Any part of the Prospectus in the German language constitutes
a translation. In respect of the issue of any Tranche of Notes under the Programme, the German text of
the Terms and Conditions may be controlling and binding if so specified in the relevant Final Terms.
Neither the Prospectus nor any Final Terms may be used for the purpose of an offer or solicitation
by anyone in any jurisdiction in which such offer or solicitation is not authorised or to any person
to whom it is unlawful to make such an offer or solicitation.
Neither the Prospectus nor any Final Terms constitutes an offer or an invitation to subscribe for or
purchase any Notes and should not be considered as a recommendation by Deutsche Bank, the Dealers
or any of them that any recipient of this Prospectus or any Final Terms should subscribe for or purchase
any Notes. Each recipient of this Prospectus or any Final Terms shall be taken to have made its own
appraisal of the condition (financial or otherwise) of the Issuer and as the case may be of Deutsche Bank.
In connection with the issue of any Tranche of Notes under the Programme, the Dealer or Dealers
(if any) named in the relevant Final Terms as the stabilising manager(s) (or persons acting on
behalf of any stabilising manager(s)) may overallot Notes or effect transactions with a view to
supporting the 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 at any
time after the adequate public disclosure of the final terms of the offer of the relevant Tranche of
Notes 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 must 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.
In this Prospectus, all references to "", "Euro", "EUR" or "euro" are to the single currency of certain
member states of the European Union and all references to "U. S. dollars", "U. S.$" and "$" refer to United
States dollars.

3

TABLE OF CONTENTS
Page
General Description of the Programme ..........................................................................................
5
General ............................................................................................................................................
5
Issue
Procedures.............................................................................................................................
6
Summary ............................................................................................................................................
8
Risk
Factors.....................................................................................................................................
8
The
Notes ........................................................................................................................................
10
Deutsche
Bank ................................................................................................................................
14
German Translation of the Summary ..............................................................................................
16
Risk Factors.......................................................................................................................................
26
Regarding
Deutsche
Bank...............................................................................................................
26
Regarding the Notes........................................................................................................................
26
Deutsche Bank Aktiengesellschaft..................................................................................................
32
Terms and Conditions of Notes German Language Version
(Deutsche Fassung der Emissionsbedingungen) ......................................................................
34
Terms and Conditions of the Notes English Language Version ..................................................
59
Form of Final Terms....................................................................................................
82
Taxation..............................................................................................................................................
102
General Information ..........................................................................................................................
107
Authorization....................................................................................................................................
107
Legal and Arbitration Proceedings...................................................................................................
107
No
Material
Adverse
Change...........................................................................................................
107
No Significant Change in the Issuer's Financial Position.................................................................
107
Material
Contracts............................................................................................................................
107
Post Issuance Information ...............................................................................................................
107
Clearing
Systems.............................................................................................................................
107
Use
of
Proceeds ..............................................................................................................................
108
Listing Information and Admission to Trading.................................................................................
108
Undertaking .....................................................................................................................................
108
Luxembourg
Stock
Exchange..........................................................................................................
108
Selling Restrictions...........................................................................................................................
109
Documents Incorporated by Reference ..........................................................................................
113
Names and Addresses......................................................................................................................
117

4

GENERAL DESCRIPTION OF THE PROGRAMME
I. General
Under this 50,000,000,000 Debt Issuance Programme (the "Programme"), the Issuer may from time to
time issue notes (the "Notes") to one or more of the following Dealers: Deutsche Bank Aktiengesellschaft;
Deutsche Bank AG, London Branch; Deutsche Bank Aktiengesellschaft, Frankfurt am Main, Zurich
Branch; Deutsche Bank Luxembourg S. A. and any other Dealer appointed from time to time in
accordance with the Dealer Agreement which appointment may be for a specific issue or on an ongoing
basis (the "Dealers").
The maximum aggregate principal amount of all Notes at anyone time outstanding under the Programme
will not exceed 50,000,000,000 (or its equivalent in other currencies). The Issuer may increase the
amount of the Programme in accordance with the terms of the Dealer Agreement from time to time.
Notes that may be issued by the Issuer acting through its London Branch, Sydney Branch or any of its
other branch offices outside Germany will constitute obligations of the Issuer as a whole and are the same
as if the Issuer had issued such Notes through its head office in Frankfurt am Main.
The Notes will be issued on a continuing basis to one or more of the Dealers (as defined herein). Notes
may be distributed by way of public offer or private placements and, in each case, on a syndicated or non-
syndicated basis. The method of distribution of each Tranche will be stated in the relevant Final Terms
(the "Final Terms").
Notes will be issued on a continuous basis in tranches (each a "Tranche"), each Tranche consisting of
Notes which are identical in all respects. One or more Tranches, which are expressed to be consolidated
and forming a single series and identical in all respects, but having different issue dates, interest
commencement dates, issue prices and dates for first interest payments may form a series ("Series") of
Notes. Further Notes may be issued as part of existing Series. The specific terms of each Tranche will be
set forth in the applicable Final Terms.
Notes will be issued in such denominations as may be agreed between the Issuer and the relevant
Dealer(s) and as indicated in the applicable Final Terms save that the minimum denomination of the Notes
will be, if in Euro, 1,000, or if in any currency other than Euro, in an amount in such other currency nearly
equivalent to Euro 1,000 at the time of the issue of the Notes.
Notes may be issued at an issue price which is at par or at a discount to, or premium over, par, as
specified in the applicable Final Terms.
Application has been made to list Notes in bearer form to be issued under the Programme on the
Regulated Market ("Bourse de Luxembourg") of the Luxembourg Stock Exchange, which is a regulated
market within the meaning of the Markets and Financial Instruments Directive 2004/39/EC. The
Programme provides that Notes in bearer form may be listed on other or further stock exchanges
including, but not limited to, the Frankfurt Stock Exchange, as may be agreed between the Issuer and the
relevant Dealer(s) in relation to each issue. Notes may further be issued under the Programme which will
not be listed on any stock exchange.
Notes will be accepted for clearing through one or more Clearing Systems as specified in the applicable
Final Terms. These systems will include those operated by Clearstream Banking AG, Frankfurt am Main
("CBF"), Clearstream Banking, société anonyme, Luxembourg ("CBL") and Euroclear Bank SA/NV, as
operator of the Euroclear system ("Euroclear").
Deutsche Bank Aktiengesellschaft will act as fiscal agent (the "Fiscal Agent"). Deutsche Bank
Aktiengesellschaft, Deutsche Bank Luxembourg S. A. and other institutions, all as indicated in the
applicable Final Terms will act as paying agents (the "Paying Agents"). Deutsche Bank Luxembourg S.
A., will also act as Luxembourg listing agent (the "Luxembourg Listing Agent").

5

II. Issue Procedures
General
The Issuer and the relevant Dealer(s) will agree on the terms and conditions applicable to each particular
Tranche of Notes (the "Conditions"). The Conditions will be constituted by the Terms and Conditions of
the Notes set forth below (the "Terms and Conditions") as completed, modified, supplemented or
replaced by the provisions of the Final Terms. The Final Terms relating to each Tranche of Notes will
specify:
whether the Conditions are to be Long-Form Conditions or Integrated Conditions (each as
described below); and
whether the Conditions will be in the German language or the English language or both (and, if both,
whether the German language version or the English language version is controlling).
As to whether Long-Form Conditions or Integrated Conditions will apply, the Issuer anticipates that:
Long-Form Conditions will generally be used for Notes sold on a non-syndicated basis and which are
not publicly offered.
Integrated Conditions will generally be used for Notes sold and distributed on a syndicated basis.
Integrated Conditions will generally be required where the Notes are to be publicly offered, in whole or
in part, or are to be distributed, in whole or in part, to non-professional investors.
As to the controlling language of the respective Conditions, the Issuer anticipates that, in general, subject
to any stock exchange or legal requirements applicable from time to time, and unless otherwise agreed
between the Issuer and the relevant Dealer:
in the case of Notes sold and distributed on a syndicated basis, German will be the controlling
language.
in the case of Notes publicly offered, in whole or in part, in Germany, or distributed, in whole or in part,
to non-professional investors in Germany, German will be the controlling language. If, in the event of
such public offer or distribution to non-professional investors, however, English is chosen as the
controlling language, a German language translation of the Conditions will be available from the
principal office of the Fiscal Agent and Issuer, as specified on of this Prospectus.
Long-Form Conditions
If the Final Terms specify that Long-Form Conditions are to apply to the Notes, the provisions of the
applicable Final Terms and the Terms and Conditions, taken together, shall constitute the Conditions.
Such Conditions will be constituted as follows:
the blanks in the provisions of the Terms and Conditions which are applicable to the Notes will be
deemed to be completed by the information contained in the Final Terms as if such information were
inserted in the blanks of such provisions;
the Terms and Conditions will be modified, supplemented or replaced by the text of any provisions of
the Final Terms modifying, supplementing or replacing, in whole or in part, the provisions of the Terms
and Conditions;
alternative or optional provisions of the Terms and Conditions as to which the corresponding provisions of
the Final Terms are not completed or are deleted will be deemed to be deleted from the Conditions; and
all instructions and explanatory notes set out in square brackets in the Terms and Conditions and any
footnotes and explanatory text in the Final Terms will be deemed to be deleted from the Conditions.
Where Long-Form Conditions apply, each global note representing the Notes of the relevant Series will
have the Final Terms and the Terms and Conditions attached. If Definitive Notes are delivered in respect
of the Notes of such Series, they will have endorsed thereon either (i) the Final Terms and the Terms and
Conditions in full, (ii) the Final Terms and the Terms and Conditions in a form simplified by the deletion of
non-applicable provisions, or (iii) Integrated Conditions, as the Issuer may determine.
6

Integrated Conditions
If the Final Terms specify that Integrated Conditions are to apply to the Notes, the Conditions in respect of
such Notes will be constituted as follows:
all of the blanks in all applicable provisions of the Terms and Conditions will be completed according to
the information contained in the Final Terms and all non-applicable provisions of the Terms and
Conditions (including the instructions and explanatory notes set out in square brackets) will be deleted;
and/or
the Terms and Conditions will be otherwise modified, supplemented or replaced, in whole or in part,
according to the information set forth in the Final Terms.
Where Integrated Conditions apply, the Integrated Conditions alone will constitute the Conditions. The
Integrated Conditions will be attached to each global note representing Notes of the relevant Series and
will be endorsed on any Definitive Notes exchanged for any such global note.
Definitive Notes
The Issuer anticipates that Definitive Notes will as a rule not be issued in respect of Notes issued under
the Programme. See "Summary of the Programme Form of Notes".

7

SUMMARY
The following constitutes the summary (the "Summary") of the essential characteristics and risks
associated with the Issuer and the Notes to be issued under the Programme. This Summary should be
read as an introduction to this Prospectus. Any decision by an investor to invest in the Notes should be
based on consideration of this Prospectus as a whole, including the documents incorporated herein by
reference, any supplements thereto and the relevant Final Terms. Where a claim relating to the
information contained in this Prospectus, the documents incorporated by reference, any supplements
thereto and the relevant Final Terms is brought before a court, the plaintiff investor might, under the
national legislation of such court, have to bear the costs of translating the Prospectus, the documents
incorporated by reference, any supplements thereto and the relevant Final Terms before the legal
proceedings are initiated. Civil liability attaches to the Issuer who has tabled this Summary including any
translation thereof, and has applied or will apply for its Notification, but only if this Summary is misleading,
inaccurate or inconsistent when read together with the other parts of this Prospectus.
The following Summary does not purport to be complete and is taken from and qualified in its entirety by
the remainder of this Prospectus and, in relation to the terms and conditions of any particular Tranche of
Notes, the applicable Final Terms.
Summary regarding Risk Factors
Risk Factors regarding the Notes
Notes may not be a A potential investor should not invest in Notes which are complex financial Notes
suitable
unless the investor has the expertise (either alone or with a financial advisor) to
Investment:
evaluate how the Notes will perform under changing conditions, the resulting
effects on the value of the Notes and the impact this investment will have on the
potential investor's overall investment portfolio.
Liquidity Risk:
There can be no assurance that a liquid secondary market for the Notes will
develop or, if it does develop, that it will continue. In an illiquid market, an investor
might not be able to sell his Notes at any time at fair market prices.
Market Price Risk:
The holder of Notes is exposed to the risk of an unfavourable development of
market prices of his Notes which materialises if the holder sells the Notes prior to
the final maturity of such Notes.
Risk of Early
If the Issuer has the right to redeem the Notes prior to maturity, a holder of such
Redemption:
Notes is exposed to the risk that due to early redemption his investment will have
a lower than expected yield. Also, the Noteholder may only be able to reinvest on
less favourable conditions as compared to the original investment.
Currency Risk/
A holder of a Note denominated in a foreign currency and a holder of Dual
Dual Currency
Currency Notes is exposed to the risk of changes in currency exchange rates
Notes:
which may affect the yield of such Notes.
Fixed Rate Notes:
A holder of a Fixed Rate Note is exposed to the risk that the price of such Notes
falls as a result of changes in the market interest rate.
Floating Rate
A holder of a Floating Rate Note is exposed to the risk of fluctuating interest rate
Notes:
levels and uncertain interest income. Fluctuating interest rate levels make it
impossible to determine the profitability of Floating Rate Notes. Floating Rate
Notes may include multipliers or other leverage factors, or caps or floors, or any
combination of those features or other similar related features. The market value
of such structured Floating Rate Notes tends to be more volatile than the market
value of conventional Floating Rate Notes.
8

Zero Coupon
A holder of a Zero Coupon Note is exposed to the risk that the price of such Note
Notes:
falls as a result of changes in the market interest rate. Prices of Zero Coupon
Notes are more volatile than prices of Fixed Rate Notes and are likely to respond
to a greater degree to market interest rate changes than interest bearing notes
with a similar maturity.
Index Linked
A holder of an index linked interest Note ("Index Linked Interest Note") is
Notes:
exposed to the risk of fluctuating interest rate levels and uncertainty with respect
to interest income and may even receive no interest at all. The yield of an Index
Linked Interest Note may even be negative. A holder of an index linked
redemption Note ("Index Linked Redemption Note") is exposed to uncertainty
with respect to the redemption amount. The yield of an Index Linked Redemption
Note may be negative and an investor may lose the value of its entire investment
or part of it. Uncertainty with respect to interest and repayment amount makes it
impossible to determine the yield of Index Linked Notes in advance. The more
volatile the relevant index is, the greater is the uncertainty in respect of interest
income and repayment amount.
Equity Linked
Equity linked interest Notes ("Equity Linked Interest Notes") bear or pay
Notes:
interest at a variable rate determined by reference to the value of one or more
equity securities. A holder of Equity Linked Interest Notes is exposed to the risk
that depending on the terms of such Notes he may receive no or a limited amount
of interest. Equity linked redemption Notes ("Equity Linked Redemption
Notes") may be redeemed by the Issuer by payment of the par value amount
and/or by payment of an amount determined by reference to the value of one or
more equity securities. Accordingly, an investment in Equity Linked Redemption
Notes may bear similar market risks to a direct equity investment.
Minimum
Although the Issuer will pay to a holder of a Minimum Redemption Note a
Redemption Notes: predefined minimum amount upon redemption, the holder with respect to the
yield of such note is exposed to the performance of a notional (hypothetical)
portfolio of assets and liabilities the composition of which will fluctuate over the
life of such Notes. Uncertainty with respect to such performance makes it
impossible to determine the yield of a Minimum Redemption Note in advance and
a holder of such Note may even receive no yield at all.
Structured Notes:
An investment in Notes the premium and/or the interest on or principal of which is
determined by reference to one or more values of currencies, commodities,
interest rates or other indices or formulae, either directly or inversely, may entail
significant risks not associated with similar investments in a conventional debt
security, including the risks that the resulting interest rate will be less than that
payable on a conventional debt security at the same time and/or that an investor
could lose all or a substantial portion of the principal of his Notes.
Risks in
The yield of Notes with a cap can be considerably lower than that of similar
connection
structured Notes without a cap.
with Caps:
Subordinated
The obligations of the Issuer in case of Subordinated Notes constitute unsecured
Notes:
and subordinated obligations. In the event of the liquidation, insolvency,
composition or other proceedings for the avoidance of insolvency of, or against,
the Issuer, such obligations will be subordinated to the claims of all
unsubordinated creditors of the Issuer so that in any such event no amounts will
be payable under such obligations until the claims of all unsubordinated creditors
of the Issuer will have been satisfied in full.

9

Risk of potential
In case of Notes linked to an underlying, the Issuer, each Dealer or any of their
Conflicts of
respective affiliates may from time to time engage in transactions relating to such
Interest:
underlying which could create conflicts of interest and may have a negative
impact on the underlying value.
Risk Factors regarding Deutsche Bank
Prospective investors should consider all information provided in the Registration Document and consult
with their own professional advisers if they consider it necessary. The following describes risk factors
relating to the Issuer's ability to meet its obligations under the securities.
An investment in debt securities issued by Deutsche Bank bears the risk that Deutsche Bank is not able to
fulfil its obligations created by the issuance of securities on the relevant due date.
Rating
Ratings assigned to the Issuer by certain independent rating agencies are an indicator of the Issuer's
ability to meet its obligations in a timely manner. The lower the assigned rating is on the respective scale
the higher the respective rating agency assesses the risk that obligations will not be met at all or not be
met in a timely manner. As of the publication date of this Base Prospectus, the following ratings were
assigned to Deutsche Bank:
Long-
Rating Agency
term
Short-term
Outlook
Standard & Poor's Ratings Services, a Division of

The McGraw-Hill Companies Inc.

AA
A-1+ negative
Moody's Investors Service Limited

Aa1
P-1
stable
Fitch Ratings Ltd

AA
F1+
stable
Rating agencies may change their ratings at short notice. A rating's change may affect the price of
securities outstanding.
Rating of Subordinated Obligations
If Deutsche Bank enters into subordinated obligations these obligations may be rated lower. Deutsche
Bank will disclose such ratings of subordinated obligations (if any).
Summary regarding the Notes
Currencies:
Subject to any applicable legal or regulatory restrictions and requirements of
relevant central banks, Notes may be issued in any currency agreed by the
relevant Issuer and the relevant Dealer.
Denominations
Notes may be issued in any denominations as indicated in the applicable Final
of Notes:
Terms, but will at least have a denomination of Euro 1,000 or an amount in any
other currency which is nearly equivalent on the issue date, save that the
minimum denomination of the Notes will be such as may be allowed or required
from time to time by the relevant central bank (or equivalent body) or any laws or
regulations applicable to the relevant Specified Currency.
Form of Notes:
Notes may be issued in bearer form only.
Status of the
Senior Notes (the "Senior Notes") will constitute unsecured and unsubordinated
Notes:
obligations of the Issuer ranking pari passu among themselves and pari passu
with all other unsecured and unsubordinated obligations of the Issuer.
10