Commentary & Deal Flow

Reoffer: 7yr: SARON MS+39 / 100 / 0.875%
Benchmark: 7yr: Govt + 56.7bp

Spread set at: 7yr: SARON MS+39bp - Books subject, closing at 10:40 AM CET
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)
• Issue Size: CHF 120m
• Coupon: 0.875% p.a.
• Day Count: 30/360
• Business Day Convention: Following, unadjusted
• Settlement Date: 31-Aug-26
• Maturity: 31-Aug-33 (Soft Bullet)
• Spread/Yield: SARON MS +39bp // YTM 0.875% // Govt + 56.7bp
• Issue Price: 100
• ISIN / Valor: CH1598618937 / 159.861.893
• Lead Manager(s): Commerzbank, Deutsche Bank
• 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.