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04.02.2020 10:35
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COMMERZBANK AG - Pre-stabilisation NRW 1.65% € Tap 2038
Die Frankfurter Innenstadt, im Hintergrund die Skyline (Symbolbild).
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PR Newswire
London, February 4
Pre-Stabilisation notice
February 4, 2020
Not for distribution, directly or indirectly, in or into the United States or any jurisdiction in which such distribution would be unlawful.
The German State of North Rhine-Westphalia
EUR senior, unsecured Tap due 2038
Increase of its 1.65 % February 2038 Landesschatzanweisung
Pre-Stabilisation Notice
Commerzbank AG (contact: Daniela Olt-Farrelly; telephone: -49 69 136 23492) 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: | German State of North Rhine-Westphalia |
| Guarantor (if any): | none |
| Aggregate nominal amount: | EUR tbc |
| Description: | Increase of its € 1.35 billion LSA due 22 February 2038 |
| Offer price: | tbc after pricing |
| Other offer terms: | payment date 11 February 2020, denoms 1k/1k |
| Stabilisation: | |
| Stabilisation Coordinator: Stabilising Managers: | Commerzbank AG BNP Paribas Citigroup DekaBank Norddeutsche Landesbank |
| Stabilisation period expected to start on: | 4th February 2020 |
| 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 Managers may over-allot the securities to the extent permitted in accordance with applicable law. |
| Stabilisation trading venue: | Duesseldorf regulated market |
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.
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