Commentary & Deal Flow

Reoffer:
3yr: MS+45bp / 99.927 / 3.276%
6yr: MS+75bp / 99.878 / 3.648%
10yr: MS+105bp / 99.105 / 4.111%

Benchmark:
3yr: OBL 2.1 12-Apr-29 @ 98.455 / B+61.9bp / HR 103%
6yr: DBR 0 15-Feb-32 @ 85.350 / B+86.0bp / HR 111%
10yr: DBR 2.9 15-Feb-36 @ 98.770 / B+106.5bp / HR 97%

3yr: Final Book >€2.00bn. Peak book >€2.5bn
6yr: Final Book >€1.45bn. Peak book >€2.2bn
10yr: Final Book >€1.45bn. Peak book >€2.1bn

Launched:
3yr: €900m @ MS+45bp - Books >€2.5bn
6yr: €650m @ MS+75bp - Books >€2.2bn
10yr: €650m @ MS+105bp - Books >€2.1bn

Guidance:
3yr: MS+50a (Books >€2.3bn)
6yr: MS+80a (Books >€2.1bn)
10yr: MS+110a (Books >€2bn)

IPTs:
3yr: MS+75a
6yr: MS+105a
10yr: MS+135a

• Issuer: BMW Finance N.V.
• Guarantor: Bayerische Motoren Werke Aktiengesellschaft (Ticker: BMW)
• Issuer LEI: 5299006ZHG3IXU0PNJ56
• Guarantor LEI: YEH5ZCD6E441RHVHD759
• Guarantor Rating: A2 (stab) Moody’s / A (neg) S&P
• Expected Issue Rating: A2 / A (Moody’s / S&P)
• Form of Notes: Temporary Global Note, exchangeable for a Permanent Global Note not earlier than 40 calendar days after the respective settlement date
• Status (Notes): Senior, unsecured and unsubordinated RegS Bearer Notes
• Settlement: 19-May-26 (T+6)
• Maturity:
• • 3yr: 19-May-29
  • 6yr: 19-May-32
  • 10yr: 19-May-36
• Size:
• • 3yr: €900m
  • 6yr: €650m
  • 10yr: €650m
• Reoffer:
• • 3yr: MS+45 bps / 99.927 / 3.276%
  • 6yr: MS+75 bps / 99.878 / 3.648%
  • 10yr: MS+105 bps / 99.105 / 4.111%
• Bund ref:
• • 3yr: OBL 2.1 12-Apr-29 +61.9bps (bid 98.455, HR 103%)
  • 6yr: DBR 0 15-Feb-32 +86.0bps (bid 85.350, HR 111%)
  • 10yr: DBR 2.9 15-Feb-36 +106.5bps (bid 98.770, HR 97%)
• Coupon:
• • 3yr: 3.25%, Fixed (Ann, Act/Act, ICMA)
  • 6yr: 3.625%, Fixed (Ann, Act/Act, ICMA)
  • 10yr: 4.00%, Fixed (Ann, Act/Act, ICMA)
• ISIN:
• • 3yr: XS3379782074
  • 6yr: XS3379782157
  • 10yr: XS3379782231
• ToE:
• • 3yr: 16.29 UKT / 17.29 CET
  • 6yr: 16.28 UKT / 17.28 CET
  • 10yr: 16.28 UKT / 17.28 CET
• Docs: EMTN / Lux. Listing (regulated market) / German Law / €1k denoms
• Use of Proceeds: General corporate purposes
• Target Market: Manufacturer target market (MiFID II product governance and UK MiFIR product governance rules) is eligible counterparties, professional clients and retail clients (all distribution channels). No PRIIPs key information document (KID) or UK disclosure document required by the FCA Product Disclosure Sourcebook (DISC) will be prepared.
• Selling Restrictions: As set out in the Issuer’s EUR 50bn Debt Issuance Programme dated 08-May-26 (no communications with the U.S., sales into Canada as per notice comprised in Base Prospectus).
• Passporting: Germany, Austria and The Netherlands
• Joint Bookrunners: BayernLB, Deutsche Bank, J.P. Morgan (B&D), Mizuho, NatWest
• Advertisement: This communication is an advertisement for the purposes of Regulation (EU) 2017/1129 and underlying legislation. It is not a prospectus. The Prospectus, any supplements and the Final Terms, when published, will be available at: https://www.luxse.com/programme/Programme-BMW/13960
• FTT: 16.50 UKT / 17.50 CET