Obligation Jysk Kredit 1% ( DK0009411159 ) en DKK

Jysk Kredit

100 % ⇌

Danemark

DK0009411159 ( en DKK )

1% par an ( paiement annuel )

01/04/2025 - Obligation échue

Prospectus brochure de l'obligation Jyske Realkredit DK0009411159 en DKK 1%, échue

1 DKK

2 100 000 000 DKK

Jyske Realkredit est une société de crédit hypothécaire danoise, filiale de Jyske Bank, proposant des prêts hypothécaires aux particuliers et aux entreprises au Danemark.

L'Obligation émise par Jysk Kredit ( Danemark ) , en DKK, avec le code ISIN DK0009411159, paye un coupon de 1% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 01/04/2025

Final Terms dated 28 October 2022
Jyske Realkredit A/S
LEI code: 529900R9HQNZRT2OXB26
Business Reg. No. (CVR-nr.): 13409838
("Jyske Realkredit")

for the issue of Mortgage Bonds (RO)
These final terms ("Final Terms") shall only apply to Mortgage Bonds (RO) issued in the ISIN code stated below
("Bonds"). The Bonds were issued according to Jyske Realkredit's base prospectus for the issue of Covered Bonds (SDO),
Mortgage bonds ("RO") and bonds issued pursuant to Section 15 of the Danish Mortgage-Credit Loans and Mortgage-
Credit Bonds etc. Act (Section 15 Bonds) dated on 22 February 2022 and any addenda to this base prospectus ("Base
Prospectus").
Together with the terms of the bonds in the Base Prospectus section 5 "TERMS OF THE BONDS", these Final Terms
constitute the terms of the issued Bonds.

The total prospectus for the Bonds consists of the Base Prospectus and the Final Terms. Definitions stated in these Final
Terms shall be understood in accordance with the definitions in section 5 "TERMS OF THE BONDS" of the Base
Prospectus. Definitions stated in the Base Prospectus will have the same meaning in the Final Terms unless otherwise
stated by the context.

MiFID II and MiFIR product management/target markets

THE TARGET MARKET FOR THE BONDS IS RETAIL CLIENTS, PROFESSIONAL CLIENTS AND ELIGIBLE
COUNTERPARTIES - Solely what applies to the individual producer's procedure for product approval, the assessment
of the target market of the Bonds led to the conclusion that: (i) the target market for the Bonds is solely eligible
counterparties, professional clients and retail clients as defined in Directive 2014/65/EU ("MiFID II"), and (ii) all
channels of distribution are appropriate. Any person who subsequently offers, sells or recommends the Bonds (a
"Distributor") must take the producer's assessment of the target market into consideration. A Distributor who is subject
to MiFID II is, however, under the responsibility to undertake his own assessment of the target market of the Bonds (either
by assuming or improving the producer's assessment of the target market) and also to determine appropriate distribution
channels subject to the Distributor's execution of suitability and appropriateness tests under MiFID II, if relevant.

ISIN code
DK0009411159
Series
321.B.ap
Capital centre
B
Bond type
RO
Green Bonds
Not applicable
Currency
DKK
Name
1 321.B.ap.25 RF
Denomination
0.01
Volume in circulation
The volume in circulation is stated on an ongoing basis on Jyske Realkredit's website
jyskerealkredit.com and on Nasdaq Copenhagen A/S' website nasdaqomxnordic.com.
Opening date
3 November 2022
Closing date
28 February 2025
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(last day the ISIN code
in question is open for
issues)
Expiry date
1 April 2025
Interest rate
The interest rate of the Bonds is fixed.
The interest rate is set at 1 % p.a.
The Bonds will no longer carry interest as of the payment date when the Bonds are
redeemed.
Start date of interest
1 April 2022
accrual
Interest rate premium
Not applicable
Basis for the interest
Not applicable
rate of the Bonds
Interest Rate Cap/
Not applicable
Interest Rate Floor
Value at Redemption
Not applicable
due to negative interest
rate
Day-count convention
Actual/actual per payment period
Amortisation
The Bonds are redeemed on the maturity date at par value, unless the term to maturity of
the Bonds is extended according to the terms of the bonds.
Indexation of principal
Not applicable
Drawing/Redemption
Not applicable
dates
Termination
Not Applicable
Number of annual
1
payment dates
Payments and
Payments are due on the payment dates on 1 April. If the payment date is a Saturday,
banking days
Sunday or a bank holiday, the payment is due on the first banking day in Denmark
hereafter.
Subject to the rules for
i) Sales trigger: Yes
statutory refinancing
ii) Interest-rate trigger: No
Calculation agent
Not applicable
Trading and possible
Nasdaq Copenhagen A/S
official listing
First day of listing
3 November 2022
Place of registration
VP Securities A/S, Weidekampsgade 14, 2300 Copenhagen S ("VP")
Page 2 of 7

Offer period for resale
Not applicable
and final placement
Unambiguous and
Not applicable
objective terms and
conditions
Access to information
Not applicable
about the Bondholders
Credit rating
AAA S&P
Costs for buyers of the
Ordinary transaction costs incurred when trading with Jyske Realkredit, i.e. brokerage
Bonds
fees, price spread, etc.
Restrictions to the
Jyske Realkredit has not defined restrictions to the individual investor's right to
individual investor's
subscribe to the Bonds.
right to subscribe to the
Bonds
Other terms and
Not applicable
conditions
Agreement on
Jyske Realkredit has not entered into any binding agreement with any unit about placing
placement and/or
and/or guaranteeing issues of the Bonds.
guarantee for the
offering
Agreement on pricing
At this time, Jyske Realkredit has not entered into any binding agreement with any
company about quoting bid and offer prices for the Bonds.
Conflicts of interest
Jyske Realkredit is not familiar with any interests and/or conflicts of interest of
importance for the supply of the Bonds.
Authorisation to issue
Jyske Realkredit's Supervisory Board has decided on 23 September 2019 to authorise the
issuer of these Bonds.
Declaration
Jyske Realkredit hereby declares:
a) the Final Terms were prepared according to the Prospectus Regulation and must
be read in connection with the Base Prospectus in order to have all relevant
details about the Bonds
b) that the Base Prospectus (including any addenda) has been made available
electronically on Jyske Realkredit's website www.jyskerealkredit.com
c) that the Base Prospectus as well as the Final Terms must be read in order to
obtain all information
d) the summary of the Bonds has been attached as Appendix A to these Final
Terms.

These Final Terms were signed on behalf of Jyske Realkredit A/S:

__________________________________
__________________________________
Carsten Tirsbæk Madsen
Søren Winkler
CEO
Senior Director

Page 3 of 7

Appendix A - Summary of the Bonds
This summary covers Jyske Realkredit A/S' ("Jyske Realkredit") issue of Mortgage Bonds (RO) ("Bonds") in the
ISIN code stated below.
The summary is made up of disclosure requirements known as "elements". This summary contains all the elements
required to be included in a summary of the issue of this type of securities and Jyske Realkredit as the issuer.
Even though an element may be required to be inserted in a summary of the issue of this type of securities and Jyske
Realkredit as the issuer, it is possible that no relevant information can be given regarding such element. In cases where
an element is not relevant to a prospectus, the summary states that the element is "not applicable".
Introduction and warnings
Warnings
Jyske Realkredit draws the attention of prospective investors to the fact that:
· This summary should be read as an introduction to the prospectus;
· any decision to invest in the Bonds should be based on consideration of the Base
Prospectus as a whole
· where a claim relating to the information contained in the Base
Prospectus is brought before a court, the plaintiff investor might, under the national
legislation, have to bear the costs of translating the prospectus before the legal
proceedings are initiated; and
· civil liability attaches only to those persons who have tabled the summary including
any translation thereof, but only if the summary is misleading, inaccurate or
inconsistent when read together with the other parts of the Base Prospectus or it
does not provide, when read together with the other parts of the Base Prospectus,
key information in order to aid investors when considering whether to invest in such
Bonds.

The name and
Mortgage Bonds (RO). The ISIN and the bond series is: DK0009411159, series 321.B.ap.
international
("Bonds").
identification

number (ISIN) of the
securities.
The identity and
The issuer of the Bonds is:
contact details of the Jyske Realkredit A/S
issuer, including its
Klampenborgvej 205
identification code
DK-2800 Kgs. Lyngby
for legal entities
Denmark
(LEI code)
Telephone No.: +45 89 89 89 89
Email: [email protected]
Business Reg. No. (CVR-nr.): 13409838
LEI code: 529900R9HQNZRT2OXB26
Identity and contact
The competent authority that approves the prospectus is:
details of the
Danish Financial Supervisory Authority
competent authority
Århusgade 110
that approves the
DK-2100 Copenhagen Ø
prospectus
Denmark
Telephone No.: +45 33 55 82 82
Email: [email protected]
Business Reg. No. (CVR-nr.): 10598184
Date of approval of
Jyske Realkredit's base prospectus for the issue of Covered Bonds (SDO), Mortgage bonds
the prospectus
("RO") and bonds issued pursuant to Section 15 of the Danish Mortgage-Credit Loans and
Mortgage-Credit Bonds etc. Act (Section 15 Bonds) was dated and approved by the Danish
FSA on 22.02.2022 and addenda to this Base Prospectus approved by the FSA ("Base
Prospectus").
Key information about the issuer
Who is the issuer of the Bonds?
The issuer's
Jyske Realkredit is a limited liability company domiciled in Denmark, and it operates its
registered office,
mortgage banking business and other business in accordance with the Danish Mortgage-
legal form, the rules
Credit Loans and Mortgage-Credit Bonds etc. Act and the Danish Financial Business Act and
Page 4 of 7

the issuer is subject
other legislation applicable at any given time to Danish mortgage banks. Jyske Realkredit is
to, as well as country subject to Danish law and to supervision by the Danish Financial Services Authority.
of registration
Jyske Realkredit's LEI code is:
529900R9HQNZRT2OXB26
Jyske Realkredit has the following secondary names:
BRFkredit a/s
The issuer's
The principal activity of Jyske Realkredit is to operate as a mortgage credit institution,
principal activity
including any kind of business permitted pursuant to applicable legislation on mortgage
credit institutions. Jyske Realkredit principal market is the Danish market.
At this time, Jyske Realkredit is organised into two business areas - Personal Clients and
Corporate Clients. On the date of this summary, the personal client area comprises lending
for owner-occupied homes for all-year habitation and vacation homes and is the largest
business area. On the date of this summary, corporate loans are mainly granted within the
areas of office and business properties, residential rental property as well as cooperative
housing societies and subsidised housing.
The issuer's largest
Jyske Realkredit is a wholly-owned subsidiary of Jyske Bank A/S.
shareholder,
including a
statement of whether
the issuer is directly
or indirectly owned
or controlled by
others and by whom
The identity of the
The Chief Executive Officer of Jyske Realkredit is:
main chief executive Carsten Tirsbæk Madsen
officers
The identity of the
Jyske Realkredit's auditors are:
auditors
Ernst & Young, Godkendt Revisionspartnerselskab, CVR. 30700228, Dirch Passers Alle 36,
2000 Frederiksberg
Lars Rhod Søndergaard, State-Authorised Public Accountant
Anne Tønsberg, State-Authorised Public Accountant

What are the most material financial data about the issuer:
Material financial
Table 1 - Income statement (DKKm)
data

2021
2020
Net interest income
2354
2369
Net fees and commission income
-706
-603
Loan impairment charges
64
485
Core profit
1311
1168
Profit for the year
1028
908

Table 2 - Balance sheet (DKKm)

2021
2020
Total assets
369035
377132
Issued bonds at fair value (mortgage bonds)
344817
353357
Issued bonds at amortised cost (senior debt)
750
750
Loans at fair value
340969
344965
Total equity
20798
19769
Common Equity Tier 1 capital ratio (%)
27.6
25.4
Capital ratio (%)
27.6
25.4

What are the most important risks specific to the issuer?
Issuer risks
Jyske Realkredit's activities are associated with various risks, which may have a negative
effect on Jyske Realkredit's activities, financial position, results and reputation and
consequently investors may, in part or in full, lose their investment in the Bonds.
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If one or more of the risks mentioned below occur, it may have a negative effect on Jyske
Realkredit's activities and Jyske Realkredit's ability to pay amounts due on the Bonds issued
under the Base Prospectus.
· Credit Risk
· Market risk
· Liquidity risk
· Operational risk
· Cyber risk
· Sanctions
· Risk relating to the implementation of new rules
· Competition in mortgage lending
· Ratings may not reflect all risks
Key information about the Bonds
What are the most important characteristics of the Bonds?
The currency,
The bonds are issued in Danish kroner (DKK) with a face value of 0.01 (unit size). The
nominal value and
bonds are fixed-rate and non-callable.
number of the Bonds
The rights associated The Bondholders will together with other holders of mortgage credit bonds and covered
with the Bonds
bonds as well as Privileged Derivative Counterparties have a primary preferential right (after
deduction of expenses relating to the administration of the estate in bankruptcy and similar
expenses) to all the assets in the capital centre through which the relevant ISIN code was
issued, and subsequently a primary preferential right to Jyske Realkredit in general (also after
deduction of expenses relating to the administration of the estate in bankruptcy and similar
expenses) in pursuance of the provisions of the Danish Mortgage-Credit Loans and
Mortgage-Credit Bonds etc. Act.
The relative
If Jyske Realkredit goes bankrupt, the funds in a capital centre will be applied - after
seniority of the
payment of costs for administration of the estate, etc. - to payment of claims from the
Bonds in the issuer's Bondholders as well as Privileged Derivative Counterparties with the same preferential
capital structure in
position as the Bondholders. Bankruptcy does not constitute an event of default The trustee
the event of
must to the extent possible continue to make the payments without changes. If the full
insolvency,
amounts due cannot be paid on the due date, the Bondholders and the Privileged Derivative
including
Counterparties shall retain their claims and preferred rights. At worst, it can only at the final
information of their
statement of the estate in bankruptcy be clarified to which extent the Bondholders and the
place in the order of
privileged derivative counterparties can have their unpaid claims covered.
priority and the
If Jyske Realkredit is under resolution within the framework of the BRRD Directives
potential effect on
(2014/56/EU and 2019/879/EU) , the resolution authority shall seek to resolve Jyske
the investment in the Realkredit in the most appropriate way by using the possible tools available. This may, for
event of resolution
instance be the sale of a capital centre to a third party, transfer to a temporarily state-owned
within the
company. Mortgage credit institution and hence the Bonds are not subject to obligations to
framework of the
write down/convert (bail-in).
BRRD Directives
Once a year, Jyske Realkredit submits a recovery plan to the FSA. The recovery plan
includes a number of indicators that must continuously be complied with and be included in
the reporting. The recovery plan must ensure timely intervention in order to secure the
recovery of the institution. If recovery is not possible, the resolution authority has a series of
options available for intervention and takeover of the institution to ensure financial stability.
Where will the Bonds be traded?
Admission to trading The bonds are admitted to trading on Nasdaq Copenhagen A/S
Is there a guarantee linked to the Bonds?
The nature and
Not applicable
extent of the
guarantee
Risks relating to the Bonds
What are the most important risks specific to the Bonds?
Page 6 of 7

Bond risks
The Bonds are associated with various risks. The most important risks specific to the Bonds
are discussed below.
Risks associated with the Bonds in general, including
· The secondary market in general
· Interest-rate risk
· Discontinuation of reference rates
· No events of default
· No grounds of default in connection with Bonds guaranteed by the government
· Interest on overdue payments with respect to Bonds
Key information about the offering
On which terms and conditions and according to which time schedule can I invest in these Bonds?
Terms and
Generally, the Bonds can be sold in various ways:
conditions of the

offer
· Sale or auction to the market via Bloomberg systems
· Syndication with organisers
· Private placements, possibly via organisers
· Nasdaq Copenhagen A/S or another regulated market

In the event of regular issues and block issues, SDO/RO Bonds are sold on an ongoing basis
in the bond market, and no investor has any preferential right to buy these. In connection
with auctions via Bloomberg's auction system, SDO/RO Bonds are allocated according to
Jyske Realkredit's conditions of sale by auction. The SDO/RO Bonds are allocated after a
period stipulated by Jyske Realkredit.
Why has this prospectus been prepared?
Reasons for offering Funds from the issuance and sale of the Bonds are applied to the funding of loans secured
and application of
against real property, unsecured loans to public authorities or loans guaranteed by public
proceeds
authorities.
Funds generated by the issuance of ROs may in accordance with the Mortgage-Credit Loans
and Mortgage-Credit Bonds etc. Act be invested in secure and liquid securities.
Conflicts of interest
Jyske Realkredit is not familiar with any interests and/or conflicts of interest of importance
for the supply of the Bonds.

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