Obligation RaiffeisenBank 6.625% ( XS0619437147 ) en EUR

RaiffeisenBank

100 % ▼

Autriche

XS0619437147 ( en EUR )

6.625% par an ( paiement annuel )

17/05/2021 - Obligation échue

Prospectus brochure de l'obligation Raiffeisen XS0619437147 en EUR 6.625%, échue

100 000 EUR

500 000 000 EUR

Raiffeisen est un groupe bancaire coopératif d'origine autrichienne présent dans de nombreux pays, opérant principalement dans les domaines de la banque de détail, de la banque d'investissement et de la gestion d'actifs.

L'obligation à 6,625% d'intérêt, émise par Raiffeisen, l'un des principaux groupes bancaires coopératifs autrichiens jouant un rôle central dans l'économie nationale et ayant une présence significative en Europe centrale et orientale, identifiée par le code ISIN XS0619437147, représentait une émission totale de 500 000 000 EUR libellée en euros depuis son pays d'émission, l'Autriche, avec une taille minimale d'achat fixée à 100 000 EUR et une fréquence de paiement annuelle, et a atteint sa maturité le 17 mai 2021, date à laquelle elle a été intégralement remboursée à 100% de son prix nominal.

This document constitutes two base prospectuses of Raiffeisen Bank International AG: (i) the base prospectus in respect of non-equity
securities within the meaning of Art. 22 No. 6 (4) of the Commission Regulation (EC) No 809/2004 of 29 April 2004 (the "Commission
Regulation") and (ii) the base prospectus in respect of Covered Bank Bonds (together, the "Base Prospectus" or the "Prospectus").

Base Prospectus

RAIFFEISEN BANK INTERNATIONAL AG
EUR 25,000,000,000 Debt Issuance Programme
for the issue of Notes (as defined herein)

Under the EUR 25,000,000,000 Debt Issuance Programme described in this Base Prospectus (the "Programme"), Raiffeisen Bank
International AG may from time to time issue notes in bearer form (the "Bearer Notes") and Covered Bank Bonds (Fundierte
Bankschuldverschreibungen) in bearer form ("Covered Bank Bonds" and together with the Bearer Notes, the "Notes"). The aggregate
principal amount of Notes (issued under the Programme) outstanding will not at any time exceed EUR 25,000,000,000 (or the equivalent in
other currencies).

This Prospectus constitutes a prospectus as defined in Article 5.4 of Directive 2003/71/EC (the "Prospectus Directive"). Application has
been made to list Notes issued under the Programme on the official list of the Luxembourg Stock Exchange, to admit Notes to trading on
the Regulated Market of the Luxembourg Stock Exchange and application may be made to admit Notes on the Second Regulated Market
("Geregelter Freiverkehr") of the Vienna Stock Exchange or on any other stock exchange. The Regulated Market of the Luxembourg Stock
Exchange and the Second Regulated Market ("Geregelter Freiverkehr") of the Vienna Stock Exchange are regulated markets for the
purposes of the Markets in Financial Instruments Directive 2004/39/EEC (a "Regulated Market").

The Issuer has requested the Commission de Surveillance du Sectrur Financier (the "CSSF") in its capacity as competent authority under
the Luxembourg act relating to prospectuses for securities (Loi relative aux prospectus pour valeurs mobilières) which implements the
Prospectus Directive into Luxembourg law to provide the competent authority in the Federal Republic of Germany ("Germany") and in the
Republic of Austria ("Austria") with a certificate of approval attesting that the Prospectus has been drawn up in accordance with the Loi
relative aux prospectus pour valeurs mobilières ("Notification"). The Issuer may request the CSSF to provide competent authorities in
additional Member States within the European Economic Area with a Notification.

Notes will be issued 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 form a single series and are identical in all respects, but may have 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 an existing Series. The specific terms of each Tranche will be determined at the time of offering of such Tranche
based on then prevailing market conditions and will be set forth in the applicable final terms (the "Final Terms") (the form of which is
contained herein).

Arranger
Deutsche Bank
Dealers
Barclays Capital
BNP PARIBAS
BofA Merrill Lynch
Citi
Crédit Agricole CIB
Credit Suisse
Deutsche Bank
DZ BANK AG
HSBC
J.P. Morgan
Morgan Stanley
Rabobank International
Raiffeisen Bank International AG
UBS Investment Bank

The date of this Base Prospectus is 19 October 2010. It is valid for a period of twelve months from its date of publication.

RESPONSIBILITY STATEMENT
Raiffeisen Bank International AG (the "Issuer" or "RBI", formerly Raiffeisen International Bank-Holding AG
"RI"; and together with its consolidated subsidiaries, the "RBI Group") accepts responsibility for the information
contained in this Prospectus. The Issuer declares, having taken all reasonable care to ensure that such is the case, that
to the best of the knowledge of the Issuer the information contained in this Prospectus is in accordance with the facts
and does not omit anything likely to affect the import of such information.
IMPORTANT NOTICE
This Prospectus is to be read in conjunction with all documents which are incorporated herein by reference in
accordance with Article 28 of the European Commission Regulation No. 809/2004 dated 29 April 2004, as mended
from time to time (see "General Information - Documents Incorporated by Reference") and may only be used for the
purposes for which it has been published.
No person has been authorised to give any information or to make any representation other than those contained in
this Prospectus in connection with the issue or sale of the Notes and, if given or made, such information or
representation must not be relied upon as having been authorised by the Issuer or any of the dealers (the "Dealers")
or as approval of the use of this Prospectus. Neither the delivery of this Prospectus nor any sale made in connection
herewith shall, under any circumstances, create any implication that there has been no change in the affairs of the
Issuer since the date hereof or the date upon which this Prospectus has been most recently supplemented or that there
has been no adverse change in the financial position of the Issuer since the date hereof or the date upon which this
Prospectus has been most recently supplemented or that any other information supplied in connection with the
Programme is correct as of 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 with the Dealers 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.
The Dealers have not separately verified the information contained in this Prospectus. None of the Dealers makes any
representation, express or implied, or accepts any responsibility, with respect to the accuracy or completeness of any
of the information in this Prospectus. Neither this Prospectus nor any other financial statements are intended to
provide the basis of any credit or other evaluation and should not be considered as a recommendation by any of the
Issuer or the Dealers that any recipient of the Prospectus or any other financial statements should purchase the Notes.
Each potential purchaser of Notes should determine for itself the relevance of the information contained in this
Prospectus and its purchase of Notes should be based upon such investigation as it deems necessary. None of the
Dealers undertakes to review the financial condition or affairs of the Issuer during the life of the arrangements
contemplated by this Prospectus nor to advise any investor or potential investor in the Notes of any information
coming to the attention of any of the Dealers.
This Prospectus does not constitute an offer of, or an invitation by or on behalf of the Issuer or the Dealers to
subscribe for, or purchase, any Notes.
SELLING RESTRICTIONS
The distribution of this Prospectus and the offering or sale of the Notes in certain jurisdictions may be restricted by
law. Persons into whose possession this Prospectus comes are required by the Issuer and the Dealers to inform
themselves about and to observe any such restriction.
The Notes have not been and will not be registered under the United States Securities Act of 1933 (the "Securities
Act") or with any securities regulatory authority of any state or other jurisdiction of the United States. The Notes may
not be offered, sold or delivered within the United States or to, or for the account or benefit of, U.S. persons (as
defined in Regulation S under the Securities Act ("Regulation S")).
The Notes are subject to U.S. tax law requirements and may not be offered, sold or delivered within the United States
or its possessions or to a U.S. person, except in certain transactions permitted by U.S. tax regulations.

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For a description of certain restrictions on offers and sales of the Notes and on the distribution of this Prospectus, see
"Subscription and Sale".
STABILISATION
In connection with the issue of any Tranche, the Dealer or Dealers (if any) named as the stabilising manager(s) (the
"Stabilising Manager(s)") (or persons acting on behalf of any Stabilising Manager(s)) in the applicable Final Terms
may over-allot Notes 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 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 and 60 days after the date of the allotment of the relevant Tranche. Any stabilisation action or over-
allotment shall be conducted in accordance with all applicable laws and rules.
FORWARD-LOOKING STATEMENTS
This Prospectus contains certain forward-looking statements. A forward-looking statement is a statement that does
not relate to historical facts and events. They are based on analyses or forecasts of future results and estimates of
amounts not yet determinable or foreseeable. These forward-looking statements are identified by the use of terms and
phrases such as "anticipate", "believe, "could", "estimate", "expect", "intend", "may", "plan", "predict", "project",
"will" and similar terms and phrases, including references and assumptions. This applies, in particular, to statements
in this Prospectus containing information on future earning capacity, plans and expectations regarding the Issuer's
business and management, its growth and profitability, and general economic and regulatory conditions and other
factors that affect it.
Forward-looking statements in this Prospectus are based on current estimates and assumptions that the Issuer makes
to the best of its present knowledge. These forward-looking statements are subject to risks, uncertainties and other
factors which could cause actual results, including the Issuer's financial condition and results of operations, to differ
materially from and be worse than results that have expressly or implicitly been assumed or described in these
forward-looking statements. The Issuer's business is also subject to a number of risks and uncertainties that could
cause a forward-looking statement, estimate or prediction in this Prospectus to become inaccurate. Accordingly,
investors are strongly advised to read the following sections of this Prospectus: "Summary", "Risk Factors" and
"Description of Raiffeisen Bank International AG". These sections include more detailed descriptions of factors that
might have an impact on the Issuer's business and the markets in which it operates.
In light of these risks, uncertainties and assumptions, future events described in this Prospectus may not occur. In
addition, neither the Issuer nor the Dealers assume any obligation, except as required by law, to update any forward-
looking statement or to conform these forward-looking statements to actual events or developments.

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TABLE OF CONTENTS

Page

Summary ......................................................................................................................................................................... 5
German Translation of the Summary............................................................................................................................. 18
Risk Factors ................................................................................................................................................................... 32
Issue Procedures and General Description of The Programme...................................................................................... 52
Terms and Conditions of the Notes ............................................................................................................................... 54
Form of Final Terms ...................................................................................................................................................... 86
Description of Raiffeisen Bank International AG........................................................................................................ 104
Description of Covered Bank Bonds according to the Austrian Law on Covered Bank Bonds (Fundierte
Bankschuldverschreibungen) ....................................................................................................................................... 137
Description of Rules Regarding Resolutions of Holders ............................................................................................. 139
Subscription and Sale .................................................................................................................................................. 141
Taxation ....................................................................................................................................................................... 144
General Information .................................................................................................................................................... 150

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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 the consideration of this
Prospectus as a whole, including the documents incorporated by reference, any supplements to the Prospectus and
the relevant Final Terms. Where a claim relating to the information contained in this Prospectus, including the
documents incorporated by reference, any supplements to the Prospectus 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 this Prospectus, any documents incorporated by reference, any supplements to the Prospectus and the
relevant Final Terms before the legal proceedings are initiated. No civil liability attaches to the Issuer solely on the
basis of the summary, including any translation thereof, unless it is misleading, inaccurate or inconsistent when read
together with the other parts of this Base 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.

Issuer
Raiffeisen Bank International AG
Arranger
Deutsche Bank Aktiengesellschaft
Dealers
Barclays Bank PLC
BNP Paribas
Citigroup Global Markets Limited
Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A. (trading
as Rabobank International)
Crédit Agricole Corporate and Investment Bank
Credit Suisse Securities (Europe) Limited
Deutsche Bank Aktiengesellschaft
DZ BANK AG Deutsche Zentral-Genossenschaftsbank,
Frankfurt am Main
HSBC France
J.P. Morgan Securities Ltd.
Merrill Lynch International
Morgan Stanley & Co. International plc
Raiffeisen Bank International AG
UBS Limited
Fiscal Agent
Deutsche Bank Aktiengesellschaft
Austrian Fiscal Agent
Raiffeisen Bank International AG or or any other entity appointed by the Issuer on
its behalf for such purpose in accordance with the Agency Agreement.
Luxembourg Listing Agent Deutsche Bank Luxembourg S.A.
Programme Size
Up to EUR 25,000,000,000 (or the equivalent in other currencies at the date of issue
calculated as described in the Dealer Agreement) aggregate nominal amount of
Notes outstanding at any one time. The Issuer may increase the amount of the
Programme in accordance with the terms of the Dealer Agreement.
Summary Regarding the Notes

Notes
Notes may be issued as Senior Notes, Short-Term Subordinated Notes, Subordinated
Notes, Supplementary Capital Notes and Covered Bank Bonds (Fundierte
Bankschuldverschreibungen) (each as defined below and together, the "Notes").
Method of Issue
The Notes will be issued on a syndicated or a non-syndicated basis. The Notes will
be issued in series (each a "Series") having one or more issue dates and on terms
otherwise identical (or identical other than in respect of the first payment of interest),

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the Notes of each Series being intended to be interchangeable with all other Notes of
that Series. Each Series may be issued in tranches (each a "Tranche") with the same
or different issue dates. The specific terms of each Tranche, save in respect of the
issue date, issue price, first payment of interest and nominal amount of the Tranche,
will be identical to the terms of other Tranches of the same Series and will be set out
in a set of final terms to this Debt Issuance Programme Prospectus.
Distribution
Notes may be distributed by way of private or public placement and in each case on
a syndicated or non-syndicated basis. The method of distribution of each issue of
Notes will be set out in the Final Terms applicable to such Notes.

Specified Currencies
Subject to any applicable legal or regulatory restrictions and requirements of relevant
central banks, Notes may be issued in any currency as agreed between the Issuer and
the relevant Dealer(s).
Denominations of Notes
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 EUR 1,000 and, if in any currency other
than Euro, an amount in such other currency nearly equivalent to EUR 1,000 at the
time of the issue of the Notes.

Notes may also be issued without a denomination ("Non-par Value Notes") in
accordance with the rules of the Prospectus Directive.
Form of Notes
Notes may only be issued in bearer form.
Global Notes will not be exchanged for definitive notes or collective notes.
Status of the Senior Notes
Senior Notes will constitute unsecured and unsubordinated obligations of the Issuer
and will rank pari passu among themselves and pari passu with all other unsecured
and unsubordinated obligations of the Issuer, except for any obligation preferred by
law.
Subordinated Instruments
The Issuer may issue subordinated instruments in the form of short-term
subordinated notes (the "Short-Term Subordinated Notes"), subordinated Notes
(the "Subordinated Notes") and supplementary capital notes (the "Supplementary
Capital Notes" and together with the Short-Term Subordinated Notes and the
Subordinated Notes the "Subordinated Instruments").
Status of the Short-Term
Short-Term Subordinated Notes will constitute direct, unsecured, unconditional and
Subordinated Notes
subordinated obligations of the Issuer ranking pari passu among themselves and pari
passu with all other Short Term Subordinated Notes of the Issuer save for such
subordinated obligations which are expressly subordinated to the Subordinated
Instruments. In the event of the dissolution, 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.
Status of the Subordinated
Subordinated Notes will constitute direct, unsecured, unconditional and subordinated
Notes
obligations of the Issuer ranking pari passu among themselves and pari passu with
all other Subordinated Notes of the Issuer save for such subordinated obligations
which are expressly subordinated to the Subordinated Instruments. In the event of
the dissolution, 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.
Status of the
Supplementary Capital Notes will constitute direct, unsecured, unconditional and
Supplementary Capital
subordinated obligations of the Issuer ranking pari passu among themselves. In the
Notes
event of the dissolution, 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.
Status of the Covered Bank Covered Bank Bonds (Fundierte Bankschuldverschreibungen, the "Covered Bank

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Bonds (Fundierte
Bonds") constitute unsubordinated obligations of the Issuer ranking pari passu
Bankschuldverschreibungen) among themselves and pari passu with all other obligations of the Issuer under
Covered Bank Bonds (Fundierte Bankschuldverschreibungen) in respect to their
respective cover pool. They are secured or "covered" by a cover pool of assets
pursuant to the Austrian Law on Covered Bank Bonds and pursuant to the Articles of
Association of the Issuer.
Negative Pledge
None.
Possible Interest Structures Notes may be interest bearing at fixed or variable rates or non-interest bearing, with
principal repayable at a fixed amount or by reference to a formula as may be agreed
between the Issuer and the relevant Dealer(s) as indicated in the applicable Final
Terms.
Fixed Rate Notes
Fixed Rate Notes bear a fixed interest income throughout the entire term of the Notes
as set out in the applicable Terms and Conditions as complimented by the relevant
Final Terms, if any.
Floating Rate Notes
Floating Rate Notes will bear interest at a rate determined (and as adjusted for any
applicable margin):
- on the basis of a reference rate (for instance Euro Interbank Offered Rate
(EURIBOR)) appearing on the agreed screen page of a commercial quotation
service, or
- on such basis as indicated in the applicable Final Terms.
The margin (if any) relating to such floating rate will be indicated in the applicable
Final Terms for each Series of Floating Rate Notes.
Interest periods for Floating Rate Notes will be one, two, three, six or twelve months
or such other period(s) as may be agreed between the Issuer and the relevant
Dealer(s) as indicated in the applicable Final Terms.
Structured Floating Rate
A Floating Rate Note may include multipliers or other leverage factors, or caps or
Notes
floors, or any combination of those features or other similar related features.
Inverse/Reverse Floating
Inverse/Reverse Floating Rate Notes have an interest rate which is determined as the
Rate Notes
difference between a fixed interest rate and a floating rate reference rate such as
EURIBOR or the London Interbank Offered Rate (LIBOR).
Fixed to Floating Rate
Elements of Fixed Rate Notes may be combined with those of Floating Rate Notes;
Notes
Fixed to Floating Rate Notes may bear interest at a rate that the Issuer may elect to
convert from a fixed rate to a floating rate, or from a floating rate to a fixed rate.
Step-Up and Step-Down
Interest rates on Step-Up Notes increase over the years, interest rates on Step-Down
Notes
Notes decrease over the years. The dates on which interest increases or decreases,
respectively, and the interest rates are predetermined. There are also combinations of
Step-Up and Step-Down Notes, whereby the predetermined interest rate may
increase or decrease from one year to another.
Zero Coupon Notes
Zero Coupon Notes will be offered and sold either at a discount to their principal
amount or on an accumulated interest basis, in each case without periodic payments
of interest.
Dual/Multi Currency Notes Dual/Multi Currency Notes are Notes, whose payment of principal and/or payment
of interest can take place in different currencies. 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 on such rates of
exchange, as the Issuer and the relevant Dealer(s) may agree as indicated in the
applicable Final Terms.
Instalment Notes
Instalment Notes are Notes, whose payment of principal is made in instalments. Each
Instalment will be made as the Issuer and the relevant Dealer(s) may agree as
indicated in the applicable Final Terms.
Index Linked Notes
Index Linked Notes may be issued as Index Linked Interest Notes or Index Linked

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Redemption Notes or a combination of both.
Index Linked Interest Notes
Payments of interest in respect of Index Linked Interest Notes will be made by
reference to a single index or a basket of indices or other factors (including changes
in the price of securities and commodities or movements in exchange rates) and/or
such formula as may be specified by the Issuer and the relevant Dealer(s) (as
indicated in the applicable Final Terms).
Index Linked Redemption Notes
Payments of principal in respect of Index Linked Redemption Notes will be
calculated by reference to a single index or a basket of indices or other factors
(including changes in the price of securities and commodities or movements in
exchange rates) and/or such formula as may be specified by the Issuer and the
relevant Dealer(s) (as indicated in the applicable Final Terms). Index Linked
Redemption Notes will be redeemed by payment of the redemption amount specified
in or as determined pursuant to provisions in the applicable Final Terms.
Equity Linked Notes
Equity Linked Notes may be issued in the form of Equity Linked Interest Notes or
Equity Linked Redemption Notes or a combination of both. No Equity Linked Notes
which are linked to shares of the Issuer will be issued.
Equity Linked Interest Notes
Payments of interest in respect of Equity Linked Interest Notes will be calculated by
reference to a single equity security or a basket of equity securities or other factors
and/or such formula and on such terms as indicated in the applicable Final Terms.

Equity Linked Redemption Notes
Payments of principal in respect of Equity Linked Redemption Notes will be
calculated by reference to a single equity security or a basket of equity securities or
other factors and/or such formula and on such terms as indicated in the applicable
Final Terms. Equity Linked Redemption Notes may also provide that the redemption
will be by physical delivery of reference items. Equity Linked Redemption Notes
will be redeemed by payment of the redemption amount specified in or as
determined pursuant to the provisions of the applicable Final Terms.
Credit Linked Notes
Credit Linked Notes may be issued relating to one or more reference entities. Such
Notes may be redeemed prior to their scheduled maturity and at less than their
principal amount on the occurrence of a credit event and interest on such Notes may
cease to accrue prior to the scheduled maturity of such Notes or may, due to potential
principal reductions, be reduced on the occurrence of such credit event. On the
occurrence of a credit event and if so indicated in the applicable Final Terms, such
Notes may be redeemed by settlement in the form of physical delivery of certain
assets.
Other Interest Structures
Floating Rate Notes and any Notes except Fixed Rate Notes may also have a
maximum interest rate, a minimum interest rate or both. (Floor/Cap)
Another basis or method for determining the relevant interest rate may be applicable
for the Notes which the Issuer and the relevant Dealer(s) may agree. The terms
governing any such Notes will be indicated in the applicable Final Terms.
Maturities
Such maturities as may be agreed between the Issuer and the relevant Dealer(s) and
as indicated in the applicable Final Terms, subject to such minimum or maximum
maturities as may be allowed or required from time to time by the relevant regulatory
authority or any laws or regulations applicable to the Issuer or the relevant Specified
Currency.
Subordinated Notes will have a minimum maturity of five years (in case of
Supplemental Capital Notes: eight years; in case of Short-term Subordinated Notes:
two years).

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Redemption
The applicable Final Terms will indicate either that the Notes cannot be redeemed
prior to their stated maturity (except for taxation reasons, or, in the case of
Unsubordinated Notes or Covered Bank Bonds only, upon the occurrence of an
Event of Default) or that such Notes will be redeemable at the option of the Issuer
and/or the Holders upon giving notice within the notice period (if any) indicated in
the applicable Final Terms to the Holders or the Issuer, as the case may be, on a date
or dates specified prior to such stated maturity and at a price or prices and on such
terms as indicated in the applicable Final Terms. Also, the Notes may be early
redeemable in an event set out in the Terms and Conditions of the Notes.

Subordinated Notes will not be subject to early redemption at the option of a Holder
in the first five years (in case of Supplemental Capital Notes: eight years; in case of
Short-term Subordinated Notes: two years).

Any Notes, the proceeds of which are to be accepted by the Issuer in the United
Kingdom, which must be redeemed before the first anniversary of the date of their
issue, shall (a) have a redemption value of not less than GBP 100,000 (or an amount
of equivalent value denominated wholly or partly in a currency other than Sterling),
and (b) provide that no part of any such Note may be transferred unless the
redemption value of that part is not less than GBP 100,000 (or an equivalent
amount).
Optional Redemption
The Issuer or the Holders may have the right to call or put, respectively, the Notes
prior to maturity, if indicated in the applicable Final Terms. Furthermore, the Notes
may be early redeemable in an event set out in the Terms and Conditions of the
Notes.
Taxation
All amounts payable in respect of the Notes will be made free and clear of, and
without withholding or deduction for, any taxes, duties, assessments or governmental
charges of whatever nature imposed, levied, collected, withheld or assessed by the
Republic of Austria or any political subdivision or any authority thereof or therein
having power to tax, unless such withholding or deduction is required by law. If such
withholding or deduction is required by law, the Issuer will pay such additional
amounts as shall be necessary in order that the net amounts received by the Holders
after such withholding or deduction shall equal the respective amounts which would
otherwise have been receivable in respect of the Notes in the absence of such
withholding or deduction, subject to the exceptions set out in the Terms and
Conditions of the Notes.
Early Redemption for
Early redemption for taxation reasons will be permitted, if as a result of any change
Reasons of Taxation
in, or amendment to, the laws or regulations (including any change in, or amendment
to, an official interpretation or application of such laws or regulations), the Issuer is
required to pay additional amounts on the Notes all as more fully set out in the
Terms and Conditions of the Notes.
Events of Default
The
Senior
Notes,
other
than
Covered
Bank
Bonds
(Fundierte
Bankschuldverschreibungen), will provide for events of default entitling Holders to
demand immediate redemption of the Notes (the "Events of Default").

The Covered Bank Bonds (Fundierte Bankschuldverschreibungen) will provide for
an Event of Default only in the case that the Issuer fails to pay principal or interest
within 15 days from the relevant due date.

The Subordinated Instruments will not provide for any event of default entitling
Holders to demand immediate redemption of the Notes.
Cross Default
None.
Resolutions of Holders
In accordance with the Act on Debt Securities of 2009 (Schuldverschreibungsgesetz
"SchVG") the Notes (other than Covered Bank Bonds (Fundierte
Bankschuldverschreibungen)) may contain provisions pursuant to which Holders
may agree by resolution to amend the Terms and Conditions of the Notes (with the

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consent of the Issuer) and to decide upon certain other matters regarding the Notes.
Resolutions of Holders properly adopted, either in a meeting of Holders or by vote
taken without a meeting in accordance with the Terms and Conditions of the Notes,
are binding upon all Holders. Resolutions providing for material amendments to the
Terms and Conditions of the Notes require a majority of not less than 75 per cent. of
the votes cast. Resolutions regarding other amendments are passed by a simple
majority of the votes cast, subject to a higher majority provided for in the Terms and
Conditions of the Notes.
Holders' Representative
In accordance with the SchVG the Notes (other than Covered Bank Bonds
(Fundierte Bankschuldverschreibungen)) may provide that the Holders may by
majority resolution appoint a representative for all Holders (the "Holders'
Representative"). The responsibilities and functions assigned to the Holders'
Representative appointed by a resolution are determined by the SchVG and by
majority resolutions of the Holders. The Holders' Representative may also be
designated in the Terms and Conditions. In such case, the duties, rights and functions
of the Holders' Representative are determined by the relevant provisions of the
Terms and Conditions of the Notes.
Governing Law
Notes (other than Covered Bank Bonds (Fundierte Bankschuldverschreibungen))
and Subordinated Notes will be governed by German law. Covered Bank Bonds
(Fundierte Bankschuldverschreibungen) will be governed by German law and as for
the cover will comply with the Austrian law on Covered Bank Bonds. Subordinated
Notes will be governed by German law except for conditions relating to their
subordination, which will be governed by Austrian law.
Place of Jurisdiction
Non-exclusive place of jurisdiction for any legal proceedings arising under the Notes
is, subject to certain exceptions, Frankfurt am Main, Germany.
Listing and Admission to
Application has been made to list Notes issued under the Programme on the official
Trading
list of the Luxembourg Stock Exchange, to admit Notes to trading on the Regulated
Market "Bourse de Luxembourg" and application may be made to admit Notes on the
Second Regulated Market ("Geregelter Freiverkehr") of the Vienna Stock Exchange
or on any other stock exchange. The Programme provides that Notes may be listed
on other or further stock exchanges as indicated in the applicable Final Terms. Notes
may further be issued under the Programme which will not be listed on any stock
exchange.
Clearing System
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, société anonyme, Luxembourg ("CBL"), Euroclear Bank
SA/NV ("Euroclear"), as operator of the Euroclear system, and Oesterreichische
Kontrollbank Aktiengesellschaft ("OeKB") or any other Clearing System.
Ratings
Notes to be issued under the Programme may be rated or unrated. A security rating is
not a recommendation to buy, sell or hold securities and may be subject to
suspension, reduction or withdrawal at any time by the assigning rating agency.
Summary Regarding Raiffeisen Bank International AG
Company name
Raiffeisen Bank International AG ("RBI" or the "Issuer")
Legal form
Joint stock corporation under Austrian law
Business address
Am Stadtpark 9, 1030 Vienna, Republic of Austria
Commercial register
registered with the commercial register of the Commercial Court of Vienna
(Republic of Austria) under number FN 122119m
Executive bodies
the Management Board, the Supervisory Board
Members of the
Management Board
Dkfm. Dr. Herbert Stepic, Chairman of the Management Board

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