Commentary & Deal Flow

Guidance: Long 6yr: UKT+100bp - Books > £1.28bn (ex JLM)

Book Update: Books > £1bn (ex JLM)
IPTs: Long 6yr: UKT+115a

• Issuer: ABN AMRO Bank N.V.
• Ticker: ABNANV
• LEI Code: BFXS5XCH7N0Y05NIXW11
• ISIN: XS3351011039
• Issuer Ratings: Aa3/A/A (Moody's/S&P/Fitch)
• Expected Issue Ratings: Baa1/BBB/A (Moody's/S&P/Fitch)
• Rating Split: Issuer: Aa3/A/A (Moody's/S&P/Fitch), Issue: Baa1/BBB/A (Moody's/S&P/Fitch)
• Form of the notes: New Global Note, Reg S, Bearer
• Format: Senior Non-Preferred Fixed Rate Notes
• Tenor: Long 6-year Fixed
• Size: £ Benchmark
• Pricing Date: 14-Apr-26
• Settlement Date: 21-Apr-26 (T+5)
• Maturity Date: 21-Dec-32
• Coupon: Fixed rate, Semi-Annual, Actual/Actual (ICMA), Following, Unadjusted
• Benchmark: UKT 4.250% 07-Jun-32 (ISIN: GB0004893086)
• Interest Payment Dates: 21-Jun and 21-Dec in each year up to and including the Maturity Date, payable semi-annually in arrear
• First Interest Payment Date: 21-Dec-26
• Ranking: Unsubordinated and unsecured obligations, ranking: (i) pari passu and without any preference among themselves and with all other Senior Non-Preferred obligations, (ii) junior to any unsubordinated and unsecured obligations which do not qualify as Senior Non-Preferred obligations, and (iii) senior to any obligations of the Issuer which rank subordinated to claims in respect of unsubordinated and unsecured obligations of the Issuer (including Statutory Senior Non-Preferred Obligations). All as described in the Base Prospectus and supplements
• Set-off: No Noteholder may exercise or claim any right of set-off in respect of any amount owed to it by the Issuer arising under or in connection with the SNP Notes.
• Redemption for Tax Reasons: Applicable
• Redemption due to MREL Disqualification Event: Applicable
• Variation or Substitution: If as a result of a MREL Disqualification Event the SNP Notes can no longer be, or are likely to become no longer, included in full as MREL Eligible Liabilities, then the Issuer may, either substitute all of the SNP Notes or vary the terms of the SNP Notes so that they remain or become MREL Eligible Liabilities within the meaning of the Applicable MREL Regulations, subject to prior regulatory approval and applicable conditions, as more fully described in the Base Prospectus and supplements.
• Statutory Loss Absorption: SNP Notes may become subject to the determination by the Resolution Authority that without the consent of the SNP Noteholder all or part of the SNP Notes must be written down, reduced, redeemed and cancelled or converted into common equity Tier 1 instruments or otherwise be applied to absorb losses, as more fully described in the Base Prospectus and supplements.
• Events of Default: Events of Default of SNP Notes are restricted to bankruptcy and liquidation of the Issuer.
• Redemption Price: 100%
• Documentation: ABN AMRO Bank N.V. EMTN Programme Base Prospectus consisting of the Registration Document dated 06-Jun-25 as supplemented on 15-Aug-25 and on 28-Nov-25; 18-Mar-26; and the securities note dated 15-Aug-25. The Base Prospectus and supplements are available on the Issuer’s website: www.abnamro.com/programmedocs. The Final Terms, when published, will be available on the Issuer’s website: www.abnamro.com/bonds. The completed European Green Bond factsheet and the pre-issuance review related to the European Green Bond factsheet by ISS Corporate Solutions, Inc. together with the Green Bond Framework and second opinion are published on www.abnamro.com/esgbonds
• Business Days: London, T2
• Denominations: £100k+100k
• Governing Law: Dutch
• Sales Restrictions: As set out in the EMTN Base Prospectus and supplements
• Listing: Euronext Dublin
• Use of Proceeds: The Notes use the designation i) ‘European Green Bond’ or ‘EuGB’ in accordance with Regulation (EU) 2023/2631 (the "EU Green Bond Regulation") and ii) ICMA Green Bond Principles 2021. An amount equivalent to the proceeds of the Senior Non-Preferred Notes will be used to finance and refinance, in whole or in part, green bond eligible assets ("Eligible Assets") in accordance with the Issuer’s green bond factsheet prepared by the Issuer in accordance with Annex I of the EU Green Bond Regulation.
• Target market (MiFID II / UK MiFIR product governance): Eligible counterparties and professional clients only (all distribution channels). No EU PRIIPs or UK PRIIPs key information document (KID) has been prepared as not available to retail in the EEA or the UK
• Joint Lead Managers: ABN AMRO Bank N.V. (B&D), BMO Capital Markets, Goldman Sachs Bank Europe SE, NatWest, Natixis
• Timing: Books subject at 12.30 UKT, pricing today