Obligation Agrarrentenbank 0.875% ( US515110BG88 ) en USD

Agrarrentenbank

100 % ⇌

Allemagne

US515110BG88 ( en USD )

0.875% par an ( paiement semestriel )

12/09/2017 - Obligation échue

Prospectus brochure de l'obligation Landwirtschaftliche Rentenbank US515110BG88 en USD 0.875%, échue

1 000 USD

1 500 000 000 USD

515110BG8

AAA ( Première qualité )

Aaa ( Première qualité )

La Landwirtschaftliche Rentenbank (LRB) est une banque publique allemande spécialisée dans le financement de l'agriculture et des zones rurales.

L'Obligation émise par Agrarrentenbank ( Allemagne ) , en USD, avec le code ISIN US515110BG88, paye un coupon de 0.875% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 12/09/2017

L'Obligation émise par Agrarrentenbank ( Allemagne ) , en USD, avec le code ISIN US515110BG88, a été notée Aaa ( Première qualité ) par l'agence de notation Moody's.

L'Obligation émise par Agrarrentenbank ( Allemagne ) , en USD, avec le code ISIN US515110BG88, a été notée AAA ( Première qualité ) par l'agence de notation Standard & Poor's ( S&P ).

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PROSPECTUS SUPPLEMENT
Filed pursuant to Rule 424(b)(5)
(To prospectus dated August 25, 2010)
Registration No. 333-167672
$1,500,000,000
0.875% NOTES DUE 2017

Interest payable on March 12 and September 12

This prospectus supplement relates to the offering by us of $1,500,000,000 of notes. This prospectus supplement does not contain
complete information about the offering of the notes. Additional information is contained in the accompanying prospectus.
The notes are not redeemable at any time prior to maturity, except (1) at our option in the case of certain changes in the tax laws
of the Federal Republic of Germany and (2) at the holder's option in the case of certain changes related to the backing of our
obligations by the Federal Republic. See the sections entitled "-- Redemption for Tax Reasons" and "-- Redemption at Holder's
Option" under "Description of the Notes".
Under our governing law, the notes will be effectively backed by the full faith and credit of the Federal Republic. See
"Responsibility of the Federal Republic for Rentenbank" in the accompanying prospectus.
Application has been made to list the notes on the SIX Swiss Exchange.

PRICE 99.776% AND ACCRUED INTEREST, IF ANY

Underwriting Discount

Price to Public
and Commissions
Proceeds to Rentenbank
Per Note

99.776%
0.125%
99.651%
Total

$1,496,640,000
$1,875,000
$1,494,765,000
The Securities and Exchange Commission and state securities regulators have not approved or disapproved these securities,
or determined if this prospectus supplement and prospectus is truthful or complete. Any representation to the contrary is a
criminal offense.
The underwriters expect to deliver the notes to purchasers in book-entry form through The Depository Trust Company and its
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participants, including Euroclear Bank S.A./N.V. and Clearstream Banking, société anonyme, Luxembourg on September 12, 2012.
Joint Bookrunners
GOLDMAN SACHS INTERNATIONAL
HSBC
NOMURA
The date of this prospectus supplement is September 5, 2012.
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TABLE OF CONTENTS
Prospectus Supplement
Page
Where You Can Find More Information
S-3
Presentation of Financial Data
S-3
Forward-Looking Statements
S-3
Use of Proceeds
S-4
Description of The Notes
S-4
Additional Information on United States Taxation
S-7
Underwriting
S-8
Validity of the Notes
S-10
General Information
S-11
Prospectus
Page
About This Prospectus
3
Where You Can Find More Information
3
Landwirtschaftliche Rentenbank
4
Use of Proceeds
5
Description of the Securities
6
Responsibility of the Federal Republic for Rentenbank
10
Debt Record
10
German Taxation
11
United States Taxation
14
Plan of Distribution
26
Validity of the Securities
27
Limitations on Actions against the Federal Republic
27
Enforcement of Civil Liabilities against Rentenbank
27
Authorized Representative in the United States
27
Official Statements and Documents
27
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WHERE YOU CAN FIND MORE INFORMATION
This prospectus supplement should be read together with the accompanying prospectus dated August 25, 2010, which contains
information regarding Landwirtschaftliche Rentenbank and other matters, including a description of certain terms of the notes being
offered hereby. Further information concerning Rentenbank, the Federal Republic of Germany and the notes offered hereby may be
found in the registration statement (Registration No. 333-167672), as amended, and its exhibits filed with the U.S. Securities and
Exchange Commission (the "SEC") under the U.S. Securities Act of 1933 and relating to the debt securities of Rentenbank described
in the accompanying prospectus. These documents are also available free of charge at the offices of BNP Paribas (Suisse) S.A., 2,
Place de Hollande, 1211 Geneva 11, Switzerland.
You should rely only on the information incorporated by reference or provided in this prospectus supplement and accompanying
prospectus. We have not, and the underwriters have not, authorized anyone else to provide you with different information. We are not,
and the underwriters are not, making an offer of these securities in any jurisdiction where the offer or sale is not permitted. You
should not assume that the information in this prospectus supplement or the accompanying prospectus is accurate as of any date other
than the date on the front of such documents or, with respect to information incorporated by reference, as of the date of such
information.
This prospectus supplement includes particulars given in compliance with the rules governing the listing of securities on the SIX
Swiss Exchange for the purpose of giving information with regard to Landwirtschaftliche Rentenbank. The SIX Swiss Exchange takes
no responsibility for the contents of this prospectus supplement and the accompanying prospectus, makes no representations as to their
accuracy or completeness and expressly disclaims any liability for any loss arising from or in reliance upon the whole or any part of
the contents of this prospectus supplement and the accompanying prospectus. Rentenbank accepts full responsibility for the accuracy
of the information contained in this prospectus supplement and the accompanying prospectus and confirms, having made all
reasonable inquiries, that to the best of its knowledge and belief there are no other facts the omission of which would make any
statement herein or in the prospectus misleading in any material respect. This document may only be used for the purpose for which it
has been published.
The distribution of the accompanying prospectus and this prospectus supplement and the offering of the notes in some
jurisdictions may be restricted by law. Persons into whose possession the prospectus and this prospectus supplement come should
inform themselves about and observe any such restrictions. The accompanying prospectus and this prospectus supplement do not
constitute, and may not be used in connection with, an offer or solicitation by anyone in any jurisdiction in which such offer or
solicitation is not authorized or in which the person making such offer or solicitation is not qualified to do so or to any person to
whom it is unlawful to make such offer or solicitation. See "Underwriting".
PRESENTATION OF FINANCIAL DATA
In this prospectus supplement, references to "euro", "EUR" or "" are to the single European currency adopted by certain
participating member countries of the European Union, including the Federal Republic of Germany, as of January 1, 1999. References
to "U.S. dollars", "U.S.$" or "$" are to United States dollars. For information regarding exchange rates between euro and U.S.
dollars, see the section entitled "Exchange Rate Information" and Rentenbank's annual report on Form 18-K, as amended, which is
incorporated by reference herein. On September 5, 2012, the euro foreign exchange reference rate as published by the European
Central Bank was EUR 1.00 = 1.2578 U.S. dollar (EUR 0.7950 per U.S. dollar).
FORWARD-LOOKING STATEMENTS
This prospectus supplement contains forward-looking statements that are based on current expectations, estimates, forecasts and
projections about the industry in which we operate, management's beliefs and assumptions made by management. Such statements
include, in particular, statements about our plans, strategies and prospects. Words such as "expects", "anticipates", "intends",
"plans", "believes", "seeks", "estimates", variations of such words and similar expressions are intended to identify forward-looking
statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are
difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in these
forward-looking statements. Except as required under the Federal securities laws and the rules and regulations of the SEC, we do not
have any intention or obligation to update publicly any forward-looking statements after they are made, whether as a result of new
information, future events or otherwise.
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In this prospectus supplement, references to "Rentenbank", "we" or "us" are to Landwirtschaftliche Rentenbank.
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USE OF PROCEEDS
The net proceeds from the sale of the notes will be $1,494,765,000 (after deduction of underwriting discounts and commissions
but before expenses of the offering). The net proceeds from the sale of the notes will be used to finance our lending activities as
described in the accompanying prospectus, including the refinancing of existing liabilities.
DESCRIPTION OF THE NOTES
The following is a description of certain terms of the notes and supplements the description of the general terms and
conditions of the securities in the accompanying prospectus under the heading "Description of the Securities". If the terms
described in the following summary differ from the terms described in the accompanying prospectus, you should rely on the terms
described in the following description. This description is qualified in its entirety by reference to the terms and conditions of the
notes, which are discussed below. Copies of the form of the notes and of the Fiscal Agency Agreement pursuant to which the notes
will be issued have been filed with the SEC as an exhibit to the registration statement of which this prospectus supplement and
the accompanying prospectus are a part.
General
We will initially offer the notes in an aggregate principal amount of $1,500,000,000. The notes will mature at par on September
12, 2017. The notes will be issued in minimum denominations of $1,000 and multiples thereof.
The notes will constitute unsecured and unsubordinated obligations of Rentenbank and will rank pari passu without any
preference among themselves (whether by reason of priority of date of issue or otherwise) and at least equally with all other
unsecured and unsubordinated obligations of Rentenbank, present and future, subject to statutory exceptions relating to the payment of
certain liabilities ahead of unsecured debts. These exceptions arise under our governing law and the insolvency laws of the Federal
Republic and would apply if we were the subject of an insolvency proceeding. These laws dictate that the fees and costs of the
insolvency proceedings and either liabilities relating to the administration of the estate or the fulfillment of liabilities the
administrator deems necessary for the benefit of the insolvent estate would be paid before unsecured obligations.
Application has been made to list the notes on the SIX Swiss Exchange.
At December 31, 2011, the outstanding total of our secured bond obligations was 2.8 billion. This includes our registered bonds
and secured bearer bonds. There are no material secured obligations other than our registered bonds and secured bearer bonds.
The notes will bear interest at the rate per annum shown on the front cover of this prospectus supplement, beginning September
12, 2012, payable semi-annually in arrears on March 12 and September 12 of each year, commencing March 12, 2013. Payments will
be made to the person who is the registered holder at the close of business on the day immediately preceding such interest payment
date. If any interest, principal or redemption payment date falls on a day that is not a business day, we will make the required payment
on the next succeeding business day, and no additional interest will accrue in respect of the payment made on that next succeeding
business day.
As used in this section "Description of the Notes" and in the notes, "business day" means any day, other than a Saturday or
Sunday, that is neither a legal holiday nor a day on which commercial banks are authorized or required by law, regulation or
executive order to close in The City of New York; provided, however, that the day must also be a day on which the Trans-European
Automated Real-Time Gross Settlement Express Transfer (known as TARGET2) System is open. Interest on the notes will be
calculated on the basis of a 360-day year of twelve 30-day months. The notes do not provide for any sinking fund. We may redeem the
notes prior to maturity in the circumstances described in "-- Redemption for Tax Reasons" below.
Book-Entry System and Form of the Notes
The notes will be issued in the form of one or more fully registered Global Notes which will be deposited with, or on behalf of,
The Depository Trust Company ("DTC"). Global Notes will be registered in the name of DTC or its nominee. Except as set forth
below, Global Notes may be transferred, in whole and not in part, only to DTC or its nominee.
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Beneficial interests in the notes will be shown on, and transfers thereof will be effected only through, records maintained by DTC
and its direct and indirect participants, including Euroclear Bank S.A./N.V. ("Euroclear") and Clearstream Banking, société anonyme,
Luxembourg ("Clearstream, Banking"). Investors may elect to hold interests in the notes through any of DTC, Euroclear or
Clearstream, Banking, if they are participants in these systems, or indirectly through organizations which are participants in these
systems.
Upon issuance of a Global Note, we expect that DTC or its nominee will credit on its book-entry registration and transfer system
the principal amount of the notes represented by the Global Note to the accounts of institutions that have accounts with DTC or its
nominee ("participants"). Euroclear and Clearstream, Banking hold securities on behalf of their participants through customers'
securities accounts in their respective names on the books of their respective depositaries, which in turn hold the securities in
customers' securities accounts in the depositaries' names on the books of DTC.
The Fiscal Agent initially will act as depositary for DTC. The accounts to be initially credited will be designated by the
underwriters participating in the distribution of notes. Ownership of beneficial interests in a Global Note will be limited to
participants or persons that may hold interests through participants. The laws of some states require that certain purchasers of
securities take physical delivery of the securities in definitive form. These limits and laws may impair the ability to own, transfer or
pledge beneficial interests in a Global Note.
So long as DTC or its nominee is the registered owner of a Global Note, DTC or its nominee, as the case may be, will be
considered the sole owner and holder of the notes represented by the Global Note for all purposes under the Fiscal Agency
Agreement. Except as set forth below, owners of beneficial interests in a Global Note will not be entitled to have the notes
represented by the Global Note registered in their names, will not receive or be entitled to receive physical delivery of the notes in
definitive form and will not be considered the owners or holders thereof under the Fiscal Agency Agreement. Accordingly, each
person owning a beneficial interest in the Global Note must rely on the procedures of DTC and, to the extent relevant, Euroclear or
Clearstream, Banking, and the participant through which the person owns its interest, to exercise any rights of a holder under the
Fiscal Agency Agreement. Rentenbank understands that, under existing practice, in the event that Rentenbank requests any action by a
holder or a beneficial owner desires to take any action that a holder is entitled to take, the depositary would act upon the instructions
of the participant or authorize the participant to take such action, and the participants would authorize beneficial owners owning
through these participants to take the action or would otherwise act upon the instructions of beneficial owners owning through them.
Principal and interest payments on the notes represented by a Global Note registered in the name of DTC or its nominee will be
made by us to the Fiscal Agent. The Fiscal Agent will make payments to DTC or its nominee, as the case may be, as the registered
holder of the Global Note. None of Rentenbank, the Fiscal Agent or any paying agent for the notes will have any responsibility or
liability for any aspect of the records relating to or payments made on account of beneficial ownership interests in the Global Notes
or for maintaining, supervising or reviewing any records relating to the beneficial ownership interests. We expect that DTC or its
nominee, upon receipt of any payment of principal or interest, will immediately credit participants' accounts with payments in
amounts proportionate to their respective beneficial interests in the principal amount of the Global Note as shown on the records of
DTC to its nominee. We also expect that payments by participants to owners of beneficial interests in the Global Note held through
participants will be governed by standing instructions and customary practices, as is now the case with securities held for the account
of customers registered in "street name", and will be the responsibility of these participants. Distributions with respect to notes held
through Euroclear or Clearstream, Banking will be credited to the cash accounts of Euroclear participants or Clearstream, Banking
participants in accordance with the relevant system's rules and procedures, to the extent received by its depositary. Neither
Rentenbank nor the Fiscal Agent will have any responsibility or liability for any aspect of the records relating to, or payments made
on account of, beneficial ownership interests in the Global Notes or for maintaining, supervising or reviewing any records relating to
the beneficial ownership interests.
DTC has informed us that: DTC is a limited-purpose trust company organized under the laws of the State of New York, a member
of the Federal Reserve System, a "clearing corporation" within the meaning of the New York Uniform Commercial Code, and a
"clearing agency" registered pursuant to the provision of Section 17A of the U.S. Securities Exchange Act of 1934. DTC was created
to hold securities of its participants and to facilitate the clearance and settlement of securities transactions among its participants in
the securities through electronic book-entry changes in accounts of the participants, thereby eliminating the need for physical
movement of certificates. DTC participants include securities brokers and dealers (including underwriters), banks, trust companies,
clearing corporations and certain other organizations, some of whom (and/or their
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representatives) own DTC. Access to the DTC book-entry system is also available to others, such as banks, brokers, dealers and trust
companies that clear through or maintain a custodial relationship with a participant, either directly or indirectly. DTC agrees with and
represents to its participants that it will administer its book-entry system in accordance with its rules and by-laws and requirements of
law.
Euroclear and Clearstream, Banking have informed us that: Euroclear and Clearstream, Banking each hold securities for their
customers and facilitate the clearance and settlement of securities transactions by electronic book-entry transfer between their
respective account holders. Euroclear and Clearstream, Banking provide various services including safekeeping, administration,
clearance and settlement of internationally traded securities and securities lending and borrowing. Euroclear and Clearstream,
Banking also deal with domestic securities markets in several countries through established depository and custodial relationships.
Euroclear and Clearstream, Banking have established an electronic bridge between their two systems across which their respective
participants may settle trades with each other.
Euroclear and Clearstream, Banking customers are world-wide financial institutions including underwriters, securities brokers
and dealers, banks, trust companies and clearing corporations. Indirect access to Euroclear and Clearstream, Banking is available to
other institutions which clear through or maintain a custodial relationship with an account holder of either system.
The following arrangements will apply to the notes:
Initial settlement for the notes will be made in U.S. dollars in immediately available funds (i.e., for value on the date of delivery
of the notes).
Investors electing to hold their notes through DTC will follow the settlement practices applicable to U.S. corporate debt
obligations. The securities custody accounts of investors will be credited with their holdings on the settlement date against payment in
same-day funds within DTC effected in U.S. dollars.
Investors electing to hold their notes through Euroclear or Clearstream, Banking accounts will follow the settlement procedures
applicable to conventional eurobonds.
All notes will be recorded in a register maintained by the Fiscal Agent. The Fiscal Agent will be responsible for (1) maintaining
a record of the aggregate holdings of all outstanding notes evidenced by the Global Notes; (2) ensuring that payments of principal and
interest in respect of the notes received by the Fiscal Agent from Rentenbank are duly credited to the holders of the notes; and (3)
transmitting to Rentenbank any notices from the holders of the notes.
Secondary market sales of book-entry interests in the notes between DTC participants will occur in the ordinary way in
accordance with DTC rules and will be settled using the procedures applicable to United States corporate debt obligations in DTC's
Settlement System. Secondary market sales of book-entry interests in the notes held through Euroclear or Clearstream, Banking to
purchasers of book-entry interests in the notes through Euroclear or Clearstream, Banking will be conducted in accordance with the
normal rules and operating procedures of Euroclear and Clearstream, Banking and will be settled using the procedures applicable to
conventional eurobonds.
If DTC is at any time unwilling or unable to continue as depositary or is ineligible to act as depositary, and a successory
depositary is not appointed by Rentenbank within 90 days after Rentenbank is notified by DTC or becomes aware of this condition,
Rentenbank will issue notes in definitive form in exchange for the Global Note representing the notes. In addition, Rentenbank may at
any time and in its sole discretion determine not to have the notes represented by one or more Global Notes and, in that case, will
issue notes in definitive form in exchange for all of the Global Notes representing the notes. In that case, the notes will be issued only
in fully registered form without coupons in denominations of U.S.$1,000 and multiples thereof. If notes are issued in definitive form,
DTC will provide the Fiscal Agent with registration information and payment instructions. Thereafter, payment and transfers will be
effected by the Fiscal Agent. In case of definitive notes, arrangements can be made for payment and transfer of such notes at the
offices of the Swiss Paying and Transfer Agent.
Redemption for Tax Reasons
For a discussion of our option to redeem the notes for tax reasons, please see "Description of the Securities -- Redemption for
Tax Reasons" in the accompanying prospectus.
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