Commentary & Deal Flow

Guidance: 7yr: SARON MS+38/40a

• Issuer: Hypo Vorarlberg Bank AG
• Ticker: VORHYP
• Issuer Domicile: Austria
• Domestic / Foreign: Foreign
• Format: Public Fixed-Rate Notes
• Ranking: Mortgage Pfandbriefe, ranking pari passu
• Issuer Rating: A3 (negative) (Moody's)
• Instrument Rating (exp): Aaa (Moody's)
• Size: Min. CHF 100m
• Coupon: 0.880% p.a. (indicative) (30/360, following unadj.)
• Maturity: 7 years (31-Aug-26 to 31-Aug-33) (Soft Bullet)
• Spread/Yield: SARON MS+38/40a / YTM 0.880%/0.900% / Govt+57.4/59.4
• Lead Managers: Deutsche Bank, Commerzbank
• SNB Repo-eligibility: At the discretion of the SNB, expected yes (HQLA Level 2a)
• Documentation: Off the issuer's €8,000,000,000 Debt Issuance Programme, dated 15-Jul-26, as supplemented
• FinSA Prospectus: Base Prospectus is deposited with and recognized by the Swiss Prospectus Office pursuant to Art. 54(2) FinSA. Final Terms available in accordance with Art. 45(3) FinSA.
• Governing Law: Austrian law
• Covenants: PP
• SIX Listing: 28-Aug-26
• Denomination: CHF 5,000 and multiples thereof
• Selling Restrictions: In particular United States and US persons, EEA and UK, as per the Debt Issuance Programme
• Target Market: Manufacturer target market (MiFID II product governance) is eligible counterparties and professional clients (all channels for distribution channels). Public Offering in Switzerland only.
• Timing: Today's business, books can close at short notice