Commentary & Deal Flow

Guidance: long 5yr: MS+28a

• Issuer: DZ HYP AG
• Ticker: DZHYP
• Issue Type: Mortgage Pfandbriefe, European Covered Bond (Premium)
• Format: Bearer Tefra C
• Expected Issue Rating: Aaa/AAA (Moody's/S&P)
• Size: € Benchmark
• Coupon: Fixed, annual act/act ICMA 251
• Value Date: 14-Apr-26 (T+5)
• Maturity Date: 29-Aug-31 - short first coupon
• Guidance: MS +28bps area
• Benchmark: DBR 0% Aug-31 (DE0001102564)
• Leads: ABN AMRO, BayernLB, CIBC Capital Markets, DZ BANK (B&D/DM), UBS Investment Bank and UniCredit
• Listing: Hamburg Stock Exchange (Regulated market)
• Denominations/Law: €1,000 + €1,000, German
• ISIN/WKN/Series: DE000A4DFKS4 / A4DFKS / 1287
• Target Market: The target market for the bonds is eligible counterparties, professional clients and retail clients, each as defined in MiFID II and UK MiFIR (all channels for distribution of the bonds are appropriate).
• Advertisement: The Prospectus dated 12-May-25 is available at https://www.luxse.com/programme/Programme-DZHyp/12937 and the Final Terms, when published, will be available at https://www.dzhyp.de/en/investor-relations/informations-for-investors/debt-issuance-programme/
• Public offer restrictions: Public offer (retail) may be made in Luxembourg and Germany during the Offer Period on 13 and 14-Apr-26. Elsewhere in the EEA subject to any national restrictions on offers in such EEA states, offers to qualified investors (as defined in the Prospectus Regulation) may be made. See Prospectus and Final Terms for further details.
• Timing: Books open, today's business