Commentary & Deal Flow

Spread set at: 15yr: SARON MS+28bp
IPTs: 15yr: SARON MS+28a

• Issuer: The Republic of Austria
• Ticker: AUST
• Issuer Domicile: Austria
• Domestic / Foreign: Foreign
• Format: Public Fixed-Rate Green Notes
• Ranking: Senior, unsecured, unsubordinated
• Issuer Ratings: Aa1/AA+/AA/AAA/AA+ (Moody's/S&P/Fitch/DBRS/Scope)
• Expected Issue Ratings: AA+ (S&P)
• Life: 15y
• Settlement Date: 20-May-26
• Maturity Date: 20-May-41
• Size: CHF 100m
• Coupon: Ind. 1.0625% p.a. - will price at par
• Spread set at: SARON MS+28bp
• Lead Manager: BNP Paribas
• Listing: SIX Swiss Exchange as of 18-May-26
• SNB Repoeligibility: At the discretion of the SNB, expected yes (HQLA: L1)
• Documentation: Under The Republic of Austria’s Euro 30,000,000,000 Medium Term Note Programme dated 21-Dec-22, as supplemented
• Governing Law: Austrian Law
• FINSA Prospectus: Yes, delayed in accordance with art. 51 para. 2 Finsa
• Covenants: Pari Passu
• Use of Proceeds: An amount equivalent to the net proceeds of the issue is intended to be used to finance and/or to refinance, in whole or in part, eligible green projects in accordance with and as set out in the Republic of Austria's Green Bond Framework (the "Green Bond Framework").The Green Bond Framework has been disclosed on the website of the Österreichische Bundesfinanzierungsagentur at https://www.oebfa.at/en/financing-instruments/green-securities/green-framework.html (as amended, supplemented, restated or otherwise updated on such website from time to time) and is intended to align with the Green Bond Principles as published by ICMA.
• Denominations: CHF 5,000 and integral multiples thereof
• Sales Restrictions: In particular, the United States of America and US persons, the European Economic Area, the United Kingdom, and Japan, as per the Issuer’s Base Prospectus and/or such other restrictions as may be required in connection with the offering and sale of the Notes
• Target Market: As defined by the manufacturer domiciled in the EEA (MiFID II): Eligible counterparties, professional clients and retail clients in Switzerland only (all channels for distribution), subject to applicable selling restrictions
• Timing: Today's business. Books can close at short notice