Obligation Austrian 0% ( XS1957561985 ) en EUR

Austrian

100 % ▼

Autriche

XS1957561985 ( en EUR )

19/08/2022 - Obligation échue

Prospectus brochure de l'obligation Austria XS1957561985 en EUR 0%, échue

100 000 EUR

1 250 000 000 EUR

L'Autriche est une république fédérale d'Europe centrale, membre de l'Union européenne, connue pour sa riche histoire, sa culture diversifiée, ses paysages montagneux, et sa capitale Vienne.

L'Obligation émise par Austrian ( Autriche ) , en EUR, avec le code ISIN XS1957561985, paye un coupon de 0% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 19/08/2022

The Republic of Austria
The Republic of
Euro 30,000,000,000
Medium Term Note Programme
Medium T
for the issue of Notes from 7 days to 70 years
from the date of issue
Arranger
HSBC
This Offering Circular is dated 19 December 2012 and supersedes the Offering Circular dated 23 March 2007.

This Offering Circular is dated 19 December 2012 and supersedes the Offering Circular dated 23 March
2007 in respect of the Medium Term Note Programme (the "Programme") of The Republic of Austria (the
"Republic").
Notes will have maturities from 7 days to 70 years from their issue date or variable maturities and may be
subject to redemption in whole or in part, as specified in the applicable Pricing Supplement. Notes may
be either interest bearing at fixed or variable rates or non-interest bearing and may be repayable at par,
at a specified amount above or below par or at an amount determined by reference to a formula, in each
case with terms as specified in the applicable Pricing Supplement. Notes will be issued in one or more
series (each a "Series"). Each Series shall be all in bearer form or all in registered form and may be
issued in one or more tranches (each a "Tranche") on different issue dates and on terms otherwise
identical (except in relation to interest commencement dates and matters related thereto).
The Notes will be issued on a continuing basis to or through one or more dealers appointed in respect of
a particular Tranche (each a "Dealer" and together the "Dealers").
Application has been made to list the Notes issued under the Programme on the Luxembourg Stock
Exchange and the Vienna Stock Exchange. This Offering Circular comprises a descriptive notice for the
purpose of giving the terms and conditions of Notes issued during the period of 12 months from the date
of this Offering Circular. Notes issued pursuant to the Programme may be listed on one or more stock
exchanges or may be unlisted, as specified in the applicable Pricing Supplement.
This Offering Circular neither constitutes a prospectus pursuant to Part II of the Luxembourg law on
prospectuses for securities (loi relative aux prospectus pour valeurs mobilières) dated 10 July 2005 (the
"Luxembourg Prospectus Law") which implements Directive 2003/71/EC of the European Parliament and
of the Council of 4 November 2003, as amended (the "Prospectus Directive") nor a simplified prospectus
pursuant to Chapter 2 of Part III of the Luxembourg Prospectus Law. Accordingly, this Offering Circular
does not purport to meet the format and the disclosure requirements of the Prospectus Directive and
Commission Regulation (EC) No 809/2004 implementing the Prospectus Directive, and it has not been,
and will not be, submitted for approval to any competent authority within the meaning of the Prospectus
Directive and in particular the Supervisory Commission of the Financial Sector (Commission de
Surveillance du Secteur Financier), in its capacity as competent authority under the Luxembourg
Prospectus Law. The Notes, issued pursuant to this Offering Circular, will therefore not qualify for the
benefit of the single European passport pursuant to the Prospectus Directive.
Notes of each Tranche of each Series to be issued in bearer form ("Bearer Notes", comprising a "Bearer
Series") will initially be represented by interests in a temporary global note or by a permanent global
note, in either case in bearer form (a "Temporary Global Note" and a "Permanent Global Note",
respectively, and each a "Global Note"), without interest coupons. If the Global Notes are stated in the
applicable Pricing Supplement to be issued in new global note ("NGN") form the Global Notes will be
delivered on or prior to the original issue date of the relevant Tranche to a common safekeeper (the
"Common Safekeeper") for Euroclear Bank S.A./N.V. ("Euroclear") and Clearstream Banking, société
anonyme ("Clearstream, Luxembourg"). Global notes which are not issued in NGN form ("Classic Global
Notes" or "CGNs") will be deposited on the issue date of the relevant Tranche with a common depositary
on behalf of Euroclear and Clearstream, Luxembourg (the "Common Depositary"). In certain
circumstances,1 an interim note (an "Interim Note") will be issued to initially represent the Temporary
Global Note or Permanent Global Note, as applicable, to be held by the Common Depositary or the

1
When the Issue Date (as defined herein) for a particular Series of Notes falls in a Fiscal Year (meaning, for the purposes of this
Offering Circular, a year commencing on (and including) 1 January of any year and ending on (and including) 31 December of
the same year) and the Maturity Date (as defined herein) falls in another Fiscal Year and when it is not possible to obtain the
countersignature of the Court of Accounts on the applicable Temporary Global Note and/or the applicable Permanent Global
Note before the Issue Date of such Temporary Global Note and/or Permanent Global Note.
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Common Safekeeper (as the case may be) on behalf of Clearstream, Luxembourg and Euroclear
because such Temporary Global Note or Permanent Global Note will need to be countersigned by the
Republic of Austria Court of Accounts immediately after the Issue Date for that particular Series of Notes.
In such circumstances, interests in the Interim Note will be exchanged in whole but not in part for
interests in the Temporary Global Note or Permanent Global Note, as applicable, immediately upon
receipt by the Common Depositary or the Common Safekeeper of the countersigned Temporary Global
Note or Permanent Global Note, as applicable. Interests in a Temporary Global Note will be
exchangeable, in whole or in part, for interests in a Permanent Global Note or for definitive Bearer Notes
(as specified in the relevant Pricing Supplement) on or after the first day following the expiry of 40 days
after the relevant issue date, upon certification as to non-U.S. beneficial ownership or on a date specified
in the relevant Pricing Supplement. A Global Note may only be exchanged for definitive Bearer Notes in
certain limited circumstances as described herein.
Notes of each Tranche of each Series to be issued in registered form ("Registered Notes" comprising a
"Registered Series") and which are sold in an "offshore transaction" within the meaning of Regulation S
under the U.S. Securities Act of 1933 (the "Securities Act"), will initially be represented by interests in a
definitive global unrestricted Registered Note (each a "Regulation S Global Note"), without interest
coupons, which will be deposited with the Common Depositary for, and registered in the name of a
common nominee of Clearstream, Luxembourg and Euroclear on its issue date. If the Regulation S
Global Notes are stated in the applicable Pricing Supplement to be held under the New Safekeeping
Structure (the "NSS"), the Regulation S Global Notes will be delivered on or prior to the original issue
date of the relevant Tranche to a Common Safekeeper for Euroclear and Clearstream, Luxembourg.
Beneficial interests in a Regulation S Global Note will be shown on, and transfers thereof will be effected
only through records maintained by, Euroclear or Clearstream, Luxembourg. Notes of each Tranche of
each Registered Series sold to a qualified institutional buyer within the meaning of Rule 144A under the
Securities Act, as referred to in, and subject to the restrictions described in, "Subscription and Sale" and
"Transfer Restrictions", will initially be represented by a definitive global restricted Registered Note (each
a "DTC Restricted Global Note" and together with any Regulation S Global Notes, the "Registered Global
Notes"), without interest coupons, which will be deposited with a custodian for, and registered in the
name of a nominee of, The Depository Trust Company ("DTC") on its issue date. Beneficial interests in a
DTC Restricted Global Note will be shown on, and transfers thereof will be effected only through, records
maintained by DTC and its participants. See "Clearing and Settlement". In certain circumstances,2 an
Interim Note will be issued to initially represent the Regulation S Global Note or the DTC Restricted
Global Note, as applicable, to be held by the Common Depositary or the Common Safekeeper (as the
case may be) on behalf of Clearstream, Luxembourg and Euroclear or the custodian for DTC,
respectively, because such Regulation S Global Note or DTC Restricted Global Note, as applicable, will
need to be countersigned by the Republic of Austria Court of Accounts immediately after the Issue Date
for that particular Series of Notes. In such circumstances, interests in the relevant Interim Note will be
exchanged in whole but not in part for interests in the respective Regulation S Global Note or DTC
Restricted Global Note, as applicable, immediately upon receipt by the Common Depositary, Common
Safekeeper or custodian, respectively, of the countersigned Regulation S Global Note or the DTC
Restricted Global Note, as applicable. Definitive Registered Notes will only be available in certain limited
circumstances as described herein.
This Offering Circular does not constitute an offer of, or an invitation by or on behalf of the Republic or
HSBC Bank plc (the "Arranger") to subscribe or purchase, any of the Notes. The distribution of this
Offering Circular and the offering of Notes in certain jurisdictions may be restricted by law. Persons into
whose possession this Offering Circular comes are required by the Republic and the Arranger to inform

2
When the Issue Date for a particular Series of Notes falls in a Fiscal Year and the Maturity Date falls in another Fiscal Year and
when it is not possible to obtain the countersignature of the Court of Accounts on the applicable Registered Global Note before
the Issue Date of such Registered Global Note.
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themselves about and to observe any such restrictions. For a description of certain future restrictions on
offers and sales of Notes and distribution of this Offering Circular see "Subscription and Sale" and
"Transfer Restrictions".
No person is authorised to give any information or to make any representation not contained in this
Offering Circular and any information or representation not so contained must not be relied upon as
having been authorised by or on behalf of the Republic or the Arranger. The delivery of this Offering
Circular at any time does not imply that the information contained in it is correct as at any time
subsequent to its date.
The Notes have not been approved or disapproved by the U.S. Securities and Exchange Commission,
any State Securities Commission in the United States or any other U.S. Regulatory Authority nor have
any of the foregoing authorities passed upon or endorsed the merits of the offering of Notes or the
accuracy or the adequacy of this Offering Circular. Any representation to the contrary is a criminal
offence in the United States.
The Notes have not been and will not be registered under the Securities Act or with any Securities
Regulatory Authority of any state or other jurisdiction of the United States, and the Notes may include
bearer notes that are subject to U.S. tax law requirements. Subject to certain exceptions, the Notes may
not be offered or sold or, in the case of bearer notes, delivered within the United States. This Offering
Circular has been prepared by the Republic for use in connection with the offer and sale of the Notes
outside the United States in reliance on Regulation S under the Securities Act ("Regulation S") and within
the United States to "Qualified Institutional Buyers" in reliance on Rule 144A under the Securities Act
("Rule 144A") and for the listing of Notes on the Luxembourg Stock Exchange and the Vienna Stock
Exchange. Prospective purchasers are hereby notified that sellers of the Notes may be relying on the
exemption from the provisions of Section 5 of the Securities Act provided by Rule 144A. For a description
of these and certain further restrictions on offers and sales of the Notes and distribution of this Offering
Circular, see "Subscription and Sale" and "Transfer Restrictions".
TO NEW HAMPSHIRE RESIDENTS: NEITHER THE FACT THAT A REGISTRATION STATEMENT
NOR AN APPLICATION FOR A LICENSE HAS BEEN FILED UNDER CHAPTER 421-B OF THE NEW
HAMPSHIRE REVISED STATUTES WITH THE STATE OF NEW HAMPSHIRE NOR THE FACT THAT
A SECURITY IS EFFECTIVELY REGISTERED OR A PERSON IS LICENSED IN THE STATE OF NEW
HAMPSHIRE CONSTITUTES A FINDING BY THE SECRETARY OF STATE OF NEW HAMPSHIRE
THAT ANY DOCUMENT FILED UNDER RSA 421-B IS TRUE, COMPLETE AND NOT MISLEADING.
NEITHER ANY SUCH FACT NOR THE FACT THAT AN EXEMPTION OR EXCEPTION IS AVAILABLE
FOR A SECURITY OR A TRANSACTION MEANS THAT THE SECRETARY OF STATE HAS PASSED
IN ANY WAY UPON THE MERITS OR QUALIFICATIONS OF, OR RECOMMENDED OR GIVEN
APPROVAL TO, ANY PERSONS, SECURITY OR TRANSACTION. IT IS UNLAWFUL TO MAKE, OR
CAUSE TO BE MADE, TO ANY PROSPECTIVE PURCHASER, CUSTOMER OR CLIENT ANY
REPRESENTATION INCONSISTENT WITH THE PROVISIONS OF THIS PARAGRAPH.
Unless otherwise specified or the context requires, references herein to "dollars", "U.S. dollars", "U.S.$"
and "$" are to United States dollars, references to "£" and "Sterling" are to Pounds Sterling and
references to "" and "euro" are to the currency introduced at the third stage of European economic and
monetary union pursuant to the Treaty establishing the European Community, as amended from time to
time.
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 any person acting on behalf of any
Stabilising Manager(s)) in the applicable Pricing Supplement 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
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any person acting on behalf of any 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 must be conducted by the relevant Stabilising Manager(s) (or any persons carrying on
behalf of an Stabilising Manager(s)) in accordance with all applicable laws and rules.
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TABLE OF CONTENTS
DOCUMENTS INCORPORATED BY REFERENCE ..................................................................................7
SUMMARY OF THE PROGRAMME AND THE NOTES ............................................................................8
TERMS AND CONDITIONS OF THE NOTES..........................................................................................12
FORM OF THE NOTES ............................................................................................................................39
CLEARING AND SETTLEMENT ..............................................................................................................47
USE OF PROCEEDS................................................................................................................................51
SUBSCRIPTION AND SALE ....................................................................................................................52
TRANSFER RESTRICTIONS ...................................................................................................................55
GENERAL INFORMATION.......................................................................................................................57
FORM OF PRICING SUPPLEMENT ........................................................................................................59
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DOCUMENTS INCORPORATED BY REFERENCE
The following documents shall be deemed to be incorporated in, and to form part of, this Offering
Circular:
(a)
all amendments and supplements to the Offering Circular prepared from time to time in
accordance with the undertaking by the Republic described below; and
(b)
the applicable Pricing Supplement prepared in respect of any Tranche of Notes,
save that any statement contained herein or in a document all or a relevant portion of which is
incorporated by reference herein shall be deemed to be modified or superseded for the purpose of this
Offering Circular to the extent that a statement contained in any subsequent such document modifies or
supersedes such earlier statement.
References to this "Offering Circular" shall be taken to mean this document and all the documents from
time to time incorporated by reference herein and forming part hereof.
The Republic will, at the specified offices of the Paying Agents, provide, without charge, upon the oral or
written request of any person, a copy of any or all of the documents incorporated herein by reference.
Written or oral requests for such documents should be directed to the specified office of any Paying
Agent or the specified office of the listing agent in Luxembourg.
The Republic has agreed to comply with any undertakings given by it from time to time to the
Luxembourg Stock Exchange and the Vienna Stock Exchange in connection with the Notes and, without
prejudice to the generality of the foregoing, shall furnish to the Luxembourg Stock Exchange and the
Vienna Stock Exchange all such information as the rules of the Luxembourg Stock Exchange and/or the
Vienna Stock Exchange may require in connection with the listing on the Luxembourg Stock Exchange
and/or the Vienna Stock Exchange of the Notes. The Republic shall, during the continuance of the
Programme, prepare a supplement to this Offering Circular whenever required by the rules of the
Luxembourg Stock Exchange or the Vienna Stock Exchange and in any event if there is a significant
change affecting any matter contained in this Offering Circular or a significant new matter arises the
inclusion of information in respect of which would have been so required if it had arisen when the
Offering Circular was prepared.
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SUMMARY OF THE PROGRAMME AND THE NOTES
The following does not purport to be complete and is a summary of, and is qualified in its entirety by, the
remainder of this Offering Circular and, in relation to the terms and conditions of any particular Tranche
of Notes, the applicable Pricing Supplement. Words and expressions defined or used in "Form of the
Notes" and "Terms and Conditions of the Notes" (as amended, supplemented and/or modified by the
provisions of the relevant Pricing Supplement) shall, unless the context otherwise requires or permits,
have the same meaning in the following summary:
Issuer
The Republic of Austria.
Arranger
HSBC Bank plc.
Dealers
The Dealers will consist of any one or more dealers
becoming a party to the Standard Provisions (as defined in
"Subscription and Sale") from time to time for a specific issue
of Notes.
Currencies
U.S. Dollars, Australian Dollars, Canadian Dollars, Danish
Krone, euro, Hong Kong Dollars, New Zealand Dollars,
Sterling, Swedish Kronor, Swiss Francs and Yen, or (subject
to compliance with all relevant laws, regulations and
directives) such other currency as may be agreed between
the Republic and the relevant Dealer(s).
Amount
Up to euro 30,000,000,000 (or its equivalent in other
currencies calculated as set out herein) aggregate nominal
amount of Notes. Under the Standard Provisions, the
nominal amount of Notes which may be issued under the
Programme may be increased by the Republic. For the
purpose of calculating the aggregate nominal amount of
Notes outstanding, Notes issued at a discount shall be
treated as having been issued at their accrued original issue
discount calculated by reference to the amortisation yield
formula as specified in the applicable Pricing Supplement or,
if none is specified in the applicable Pricing Supplement,
their face amount and Notes issued at a premium shall be
treated as having been issued at the amount of their net
proceeds received by the Republic. See "Form of the Notes
-- Euro Equivalent".
Maturities
Subject to compliance with all relevant laws and directives,
any maturity between 7 days and 70 years.
Issue Price
Notes may be issued at par or at a discount to or premium
over par.
Method of Issue
The Notes will be issued on a continuous basis, which may
include syndicated placements. Further Notes may be
issued as part of an existing Series.
Initial Delivery of Notes
Bearer Notes
On or before the issue date for each Tranche, if the relevant
Global Note (or Interim Note, as the case may be) is stated
in the applicable Pricing Supplement to be issued in NGN
form, the Global Note or Interim Note, as applicable, will be
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delivered to a Common Safekeeper for Euroclear and
Clearstream, Luxembourg. On or before the issue date for
each Tranche, if the relevant Global Note (or Interim Note,
as the case may be) is not issued in NGN form, the Global
Note, or Interim Note, as applicable, representing Bearer
Notes shall be deposited with the Common Depositary for
Euroclear and Clearstream, Luxembourg.
Registered Notes
On or before the issue date for each Tranche, if the relevant
Regulation S Global Note (or Interim Note, as the case may
be) is stated in the applicable Pricing Supplement to be held
under the NSS, the Regulation S Global Note or Interim
Note, as applicable, will be delivered to a Common
Safekeeper for Euroclear and Clearstream, Luxembourg. On
or before the issue date for each Tranche, if the relevant
Regulation S Global Note (or Interim Note, as the case may
be) is not held under the NSS, the Regulation S Global Note,
or Interim Note, as applicable, representing Bearer Notes
shall be deposited with the Common Depositary for
Euroclear and Clearstream, Luxembourg.
Each DTC Restricted Global Note (or Interim Note, as the
case may be) will be deposited with a custodian for, and
registered in the name of a nominee of DTC on its issue
date. Beneficial interests in a DTC Restricted Global Note (or
Interim Note, as the case may be) will be shown on, and
transfers thereof will be effected only through, records
maintained by DTC and its participants.
General
Global Notes (or Interim Notes, as the case may be) may
also be deposited with any other clearing system or may be
delivered outside any clearing system provided that the
method of such delivery has been agreed in advance by the
Republic, the Fiscal Agent and the relevant Dealer.
Interest Rate
The Notes may be issued on a fixed rate, floating rate,
variable rate or zero coupon basis.
Fixed Rate Notes
Fixed rate interest will be payable in arrear on the date or
dates as agreed between the Republic and the relevant
Dealer(s) in each year (as specified in the applicable Pricing
Supplement).
Floating Rate Notes
Floating Rate Notes will bear interest determined separately
for each Series as follows:
(i)
on the same basis as the floating rate under a notional
interest rate swap transaction in the relevant Specified
Currency governed by an agreement incorporating the
2006 ISDA Definitions, as published by the International
Swaps and Derivatives Association, Inc.; or
(ii) by reference to LIBOR, LIBID, LIMEAN or EURIBOR
(or such other benchmark as may be specified in the
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relevant Pricing Supplement) as adjusted for any
applicable margin.
Interest periods will be specified in the relevant Pricing
Supplement.
Zero Coupon Notes
Zero Coupon Notes do not bear interest and may be issued
at a discount to their nominal amount. The amount payable
on early redemption of a Zero Coupon Note will be specified
in the applicable Pricing Supplement.
Dual Currency Notes
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 may be specified in the relevant Pricing
Supplement.
Index Linked Notes
Payments of principal in respect of Index Linked Redemption
Notes or of interest in respect of Index Linked Interest Notes
will be calculated by reference to such index and/or formula
as may be specified in the relevant Pricing Supplement.
Withholding Tax
All payments of principal and interest will be made free and
clear of withholding for or on account of any taxes imposed
by or within the Republic, subject to certain exceptions.
Business Days for Payments
In the case of a payment in a currency other than the euro, a
day on which foreign exchange transactions may be carried
on in the relevant currency in the principal financial centre of
the country of such currency. In the case of a payment in
euro, a day on which the TARGET System is operating. See
"Terms and Conditions of the Notes -- Payments".
Denominations
Subject to all relevant laws and regulations, Definitive Bearer
Notes and Definitive Registered Notes will be in such
denominations as may be agreed between the Republic and
the relevant Dealer(s) specified in the applicable Pricing
Supplement.
Optional Redemption
The Pricing Supplement issued in respect of each issue of
Notes will state whether such Notes may be redeemed prior
to their stated maturity at the option of the Republic and/or
the holders, and if so the terms applicable to such
redemption including whether partial redemption is
permissible.
Listing
The Luxembourg Stock Exchange, the Vienna Stock
Exchange or as otherwise specified in the applicable Pricing
Supplement. As specified in the applicable Pricing
Supplement, a Series of Notes may be listed or unlisted.
Subject as set out herein, this Offering Circular as amended,
supplemented and/or restated will only be valid for listing
Notes on the Luxembourg Stock Exchange and the Vienna
Stock Exchange up to an aggregate amount of euro
30,000,000,000 (or its equivalent in the other currencies
specified herein), calculated by reference to the Exchange
Rate (as described in the penultimate paragraph of "Form of
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Document Outline

#1">Offering Circular_Austria 2012.docx