Commentary & Deal Flow

Final books at re-offer over €2.7bn (incl. €300m JLMs). Peak book over €3bn (pre rec).

Launched: Long 5yr: €1.25bn @ MS+22bp - Books over €3bn (incl. €300m JLMs – pre rec)
Book Update: Books over €2.5bn (inc. €300m JLMs)
Guidance: Long 5yr: MS+29a

• Issuer: UniCredit Bank GmbH (Ticker: HVB)
• LEI: 2ZCNRR8UK830BTEK2170
• Issue Type: Hypothekenpfandbrief (Mortgage Pfandbrief)
• Label: EU harmonisation label European Covered Bond (Premium)
• Format: Reg S, Bearer
• Expected Issue Rating: Aaa (Moody's)
• Size: €1.25bn
• Coupon: Fixed, annual, Act/Act ICMA, short first
• Settle: 13-May-26 (T+5)
• Maturity: 06-Aug-31
• Reference Benchmark: OBL 2.5 16-Apr-31 (#193) / HR 105%
• Hedge Deadline: 14.05 CET / 13.05 UKT
• Books Subject: 12.15 CET / 11.15 UKT
• Bookrunners: BayernLB, Danske Bank, DZ BANK, Erste Group, Helaba, ING, Raiffeisen Bank International, and UniCredit (B&D)
• Listing: Munich
• Target market: Manufacturer target market (MIFID II product governance) is retail, eligible counterparties and professional investors only (all distribution channels). No EU PRIIPs key information document (KID) has been prepared
• Fees: The Banks will be paid a fee by the Issuer in respect of this transaction
• Denominations: €1k + €1k
• Governing Law: German
• ISIN/WKN: DE000HV2A2C5 / TBD
• Timing: Today's business
• Advertising: The base Prospectus is available at: https://www.onemarkets.de/de/rechtliches/basisprospekte.html