Commentary & Deal Flow

Reoffer: 7yr: MS+28bp / 99.231 / 3.124%
Benchmark: 7yr: DBR 2.3% 15-Feb-33 @ 97.35 / B+38.3bp / HR 105%

Final Books: In excess of €650mn (incl €130m JLM interest)

Launched: 7yr: €500m @ MS+28bp - Orderbooks in excess of €650mn (incl €140m JLM interest)
Spread set at: 7yr: MS+28bp - Orderbooks in excess of €650mn (incl €140m JLM interest)
Guidance: 7yr: MS+31a

• Issuer: Achmea Bank N.V.
• LEI Code: 724500AH42V5X8BCPE49
• Guarantor: Achmea SB Covered Bond Company B.V.
• Issuer Ratings: A- (stable) / A (stable) (S&P/Fitch)
• Instrument: Fixed Rate Soft Bullet Covered Bond
• Expected Instrument Ratings: AAA (S&P)
• Form of the Covered Bonds: New Global Note, Reg S, Bearer
• Tenor: 7-year
• Size: €500m
• Reoffer: 99.231% (3.124% ann)
• Benchmark: DBR 2.3% 15-Feb-33 +38.3bps (Spot 97.35) HR 105%
• Use of Proceeds: General corporate purposes
• Type: Dutch Legislative Covered Bond, European Covered Bond (Premium)
• Pricing Date: 23-Jun-26
• Settlement Date: 30-Jun-26 (T+5)
• Maturity Date: 30-Jun-33
• Extended Due for Payment Date: 30-Jun-34
• Final Spread: MS+28 bps
• Coupon: 3.000%, Fixed rate, Actual/Actual ICMA, Following, Unadjusted
• Coupon for extended period: 1 month EURIBOR plus 3.000% per annum, Monthly, ACT/360, Adjusted, Modified following
• Interest Payment Dates: 30 June in each year, commencing 30-Jun-27, up to and including the Maturity Date, if applicable subject to the Business Day Convention
• Denominations: €100k+100k
• Business Day: Following Business Day Convention
• Redemption Price: 100% of Notional Amount
• Governing Law: Dutch Law
• ISIN: XS3427413128
• Documentation: EUR 10,000,000,000 Euro Covered Bond Programme described in the Base Prospectus dated 23-Jan-26, as supplemented on 03-Apr-26
• Leads: BBVA, DZ BANK, HSBC, ING (B&D), LBBW and Rabobank
• Listing: Euronext Amsterdam
• Selling Restrictions: As set out in the Base Prospectus and supplements
• Clearing System: Euroclear/Clearstream
• Target Market: UK MiFIR / MiFID II professionals / ECPs-only / No EEA PRIIPs or UK CCI product summary
• Advertisement: The announcement is an advertisement for the purposes of Regulation (EU) 2017/1129.
• The investor presentation, base prospectus and any supplements, and final terms when published, will be available on the Issuer’s website at: https://www.achmeabank.nl/en/investors/funding/soft-bullet-covered-bond
• Timing: Priced
• ToE: 13.23 UKT / 14.23 CET
• FTT: 13.45 UKT / 14.45 CET