Commentary & Deal Flow

3y: Final Books >€1.2bn. Peak book over €1.6bn
7y: Final Books >€1.1bn. Peak book over €1.7bn

Launched:
3yr: €500m @ MS+30bp - Books over €1.6bn
7yr: €500m @ MS+57bp - Books over €1.7bn
(Combined books over €3.3bn exc. JLM, pre-rec)
Book Update: Combined books above €2bn (excl. JLM)
IPTs: 3yr: MS+55/60bp 7yr: MS+85a

• Issuer: ABN AMRO Bank N.V.
• Issuer LEI: BFXS5XCH7N0Y05NIXW11
• Issuer rating: A1/A/AA- (Moody's/S&P/Fitch)
• Form of the notes: New Global Note, Reg S, Bearer
• Currency: €
• Format: Senior Preferred MREL Notes
• Expected Issue rating: A1/A/AA- (Moody's/S&P/Fitch)
• ESG: EuGB, ICMA Green Bond Principles 2021
• Size:
  • 3yr: €500m
  • 7yr: €500m
• Issue Date:
  • 3yr: 17-Aug-26
  • 7yr: 17-Aug-26
• Settlement Date:
  • 3yr: 24-Aug-26 (T+5)
  • 7yr: 24-Aug-26 (T+5)
• Maturity Date:
  • 3yr: 24-Aug-29
  • 7yr: 24-Aug-33
• Coupon:
  • 3yr: [●]%, Fixed rate, Annual, Act/Act (ICMA), Following, Unadjusted
  • 7yr: [●]%, Fixed rate, Annual, Act/Act (ICMA), Following, Unadjusted
• Interest Payment Dates:
  • 3yr: Annually on 24 August in each year up to and including the Maturity Date, payable annually in arrear
  • 7yr: Annually on 24 August in each year up to and including the Maturity Date, payable annually in arrear
• First Interest Payment Date:
  • 3yr: 24-Aug-27
  • 7yr: 24-Aug-27
• Ranking: Unsubordinated and unsecured obligations, ranking pari passu and without any preference among themselves and with all other unsecured and unsubordinated obligations (including Senior Preferred Notes) other than, in the event of bankruptcy, Statutory Senior Non-Preferred Obligations. As more fully described in the Base Prospectus and supplements
• Set-off: No Noteholder may exercise or claim any right of set-off in respect of any amount owed to it by the Issuer arising under or in connection with the SP Notes
• Redemption for Tax Reasons: Applicable
• Redemption due to MREL Disqualification Event: Applicable
• Variation or Substitution: If as a result of a MREL Disqualification Event the SP Notes can no longer be, or are likely to become no longer, included in full as MREL Eligible Liabilities, then the Issuer may, either substitute all of the SP Notes or vary the terms of the SP Notes so that they remain or become MREL Eligible Liabilities within the meaning of the Applicable MREL Regulations, subject to prior regulatory approval and applicable conditions, as more fully described in the Base Prospectus and supplements
• Statutory Loss Absorption: SP Notes may become subject to the determination by the Resolution Authority that without the consent of the SP Noteholder all or part of the SP Notes must be written down, reduced, redeemed and cancelled or converted into common equity Tier 1 instruments or otherwise be applied to absorb losses, as more fully described in the Base Prospectus and supplements
• Events of Default: Events of Default of SP Notes are restricted to bankruptcy and liquidation of the Issuer
• Redemption Price: 100%
• Documentation: ABN AMRO Bank N.V. EMTN Programme Base Prospectus consisting of the registration document dated 2-Jun-26 as supplemented on 14-Aug-26; and the securities note dated 2-Jun-26. The Base Prospectus and supplements are available on the Issuer's website: www.abnamro.com/programmedocs. The Final Terms, when published, will be available on the Issuer's website: www.abnamro.com/bonds. The completed European Green Bond factsheet and the pre-issuance review related to the European Green Bond factsheet by ISS Corporate Solutions, Inc. together with the Green Bond Framework and second opinion are published on www.abnamro.com/en/investor-relations/information/esg-bonds
• Business Days: T2
• ISINs:
  • 3yr: XS3479599444
  • 7yr: XS3479597745
• Reference Benchmark:
  • 3yr: OBL 2.1 12-Apr-29 #189 (HR: 113%)
  • 7yr: DBR 2.6 15-Aug-33 (HR: 99%)
• Hedge Deadline: 14:30 UKT / 15:30 CET
• Denominations / Governing Law: €100k+100k / Dutch Law
• Sales Restrictions: As set out in the EMTN Base Prospectus and supplements
• Listing venue: Euronext Dublin
• Use of Proceeds: The Notes use the designation 'European Green Bond' or 'EuGB' in accordance with Regulation (EU) 2023/2631 (the "EU Green Bond Regulation") and the ICMA Green Bond Principles 2021. An amount equivalent to the proceeds of the Senior Preferred Notes will be used to finance and refinance, in whole or in part, green bond eligible assets ("Eligible Assets") in accordance with the Issuer's green bond factsheet prepared by the Issuer in accordance with Annex I of the EU Green Bond Regulation
• Target market (MiFID II / UK MiFIR product governance): Eligible counterparties and professional clients only (all distribution channels). No EU PRIIPs or UK PRIIPs key information document (KID) has been prepared as not available to retail in the EEA or the UK
• Joint Lead Managers: ABN AMRO (B&D), Lloyds, Morgan Stanley, UBS, UniCredit
• Timing: Books closing at 12:00 UKT / 13:00 CET, allocations and pricing to follow.