Commentary & Deal Flow

Reoffer: 10yr: SARON MS+64 / 100 / 1.1525%
Benchmark: 10yr: Govt.+88

Launched: 10yr: CHF 130m @ SARON MS+64bp
IPTs: 10yr: SARON MS+64a

• Issuer: Landesbank Hessen-Thüringen Girozentrale (Ticker: HESLAN)
• Issuer Domicile: Germany
• Status: Unsecured and Unsubordinated Notes (Preferred Senior, not MREL eligible)
• Type: Public Fixed Rate Notes
• Issuer Rating: Aa2/AA- (Moody's/Fitch)
• Instrument Rating (exp): Aa2/AA- (Moody's/Fitch)
• Issue Size: CHF 130m
• Settlement Date: 04-Aug-26
• Maturity: 04-Aug-36 (10 years)
• Coupon: 1.1525% p.a.
• Issue Price: 100
• Reoffer Spread/Yield: SARON MS+64 / 1.1525% / Govt.+88
• ISIN / Security Number: CH1571219414 / 157121941
• Lead Manager(s): UBS
• SNB Repo-eligibility: At the discretion of the SNB, expected no
• Documentation: Off Landesbank Hessen-Thüringen Girozentrale's Debt Issuance Programme dated 29-Apr-26 deposited with the SIX Prospectus Office in accordance with art. 45 par. 3 FinSA
• Governing Law: German
• Covenants: PP
• Listing: 31-Jul-26 on the SIX Swiss Exchange
• Denomination: CHF 100,000
• Target Market: Manufacturer target market (MiFID II product governance) is eligible counterparties and professional clients (all distribution channels). Offering to the public in Switzerland only.
• Sales Restrictions: As per the issuer’s Debt Issuance Programme dated 29-Apr-26