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COMMERZBANK AG - Pre-Stabilisation BAWAG € 500mn covered 10yr

Mittwoch, 11.01.2017 09:25 von PR Newswire

PR Newswire

Pre-Stabilisation notice

11th January 2017

Not for distribution, directly or indirectly, in or into the United States or any jurisdiction in which such distribution would be unlawful.


€ 500mn Public Sector Covered Bond due 2027

Pre-Stabilisation Notice

Commerzbank AG (contact: Christian Klocke; telephone: +4969 13643420) hereby announces, as Stabilisation Coordinator, that the Stabilising Managers named below may stabilise the offer of the following securities in accordance with Commission Delegated Regulation (EU) 2016/1052 under the Market Abuse Regulation (EU Regulation 596/2014).

The security to be stabilised:
Issuer: BAWAG P.S.K. Bank für Arbeit und Wirtschaft und Österreichische Postsparkasse Aktiengesellschaft
Guarantor (if any): none
Aggregate nominal amount: € 500,000,000 (no grow)
Description: Public Sector Covered Bond
Offer price: tbc
Other offer terms: settlement 18th Jan; maturity 18th Jan 2027, listing Luxembourg, denoms 100k/100k
Coordinating stabilising Manager:
Stabilising Manager(s):
Commerzbank AG
Goldman Sachs
JP Morgan
Morgan Stanley
Stabilisation period expected to start on: 11th January 2017
Stabilisation period expected to end on:   no later than 30 days after the proposed issue date of the securities
Existence, maximum size and conditions of use of over-allotment facility. The Stabilising Manager(s) may over-allot the securities to the extent permitted in accordance with applicable law.
Stabilisation trading venue: Regulated market of the Luxembourg Stock Exchange

In connection with the offer of the above securities, the Stabilising Manager(s) may over-allot the securities or effect transactions with a view to supporting the market price of the securities during the stabilisation period at a level higher than that which might otherwise prevail. However, stabilisation may not necessarily occur and and any stabilisation action, if begun, may cease at any time Any stabilisation action or over-allotment shall be conducted in accordance with all applicable laws and rules.

This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of the Issuer in any jurisdiction.

This announcement is not for distribution, directly or indirectly, in or into the United States or any other jurisdiction in which such distribution would be unlawful.