Commentary & Deal Flow

Launched:
Fixed: €1bn @ MS+8bp - Books €2.8bn (incl €450m JLMs)
FRN: €500m @ 3mE+18bp - Books €1.5bn (incl €400m JLMs)

Book Update: Aggregate books over €4bn (incl. €850m JLMs), skewed towards the Fixed tranche
Guidance: Fixed: MS+14a FRN: 3mE+24a

• Issuer: Skandinaviska Enskilda Banken AB (publ) (“SEB”)
• LEI: F3JS33DEI6XQ4ZBPTN86
• Issuer Credit Rating: Aa3/AA-/AA+ (Moody’s/S&P/Fitch)
• Exp. Issue Rating: Aaa (Moody’s)
• Status: Swedish Covered Bond
• Offering format: Reg S, NGN, Bearer form, TEFRA D (no communications with or into the U.S. or Canada)
• Trade Date: 20-Aug-26
• Settlement Date: 27-Aug-26 (T+5)
• Maturity Date: 27-Aug-29 (soft bullet)
• Extended Maturity Date: 27-Aug-30
• Tranche name:
  • Fixed
  • FRN
• Tranche size:
  • Fixed: €1bn
  • FRN: €500m
• Spread:
  • Fixed: MS+8bps
  • FRN: 3mEuribor+18bps
• Coupon:
  • Fixed: Fixed [•]%, Annual, ACT/ACT (ICMA)
  • FRN: 3mEuribor+[•]bps, Quarterly, ACT/360 (ICMA)
• Coupon Dates:
  • Fixed: 27 August in each year, payable annually in arrear until and including the Maturity Date. Commencing on 27 August 2027
  • FRN: Quarterly on 27 November, 27 February, 27 May and 27 August each year in arrear until and including the Maturity Date. Commencing on 27 November 2026
• Coupon for Extended Maturity: 1mEuribor+[•], Quarterly, ACT/360 (ICMA)
• Denominations: €100,000 x €1,000
• Clearing: Euroclear / Clearstream
• Law: As per programme, English and Swedish Law
• Listing: Euronext Dublin (Regulated Market)
• ISIN:
  • Fixed: XS3482637496
  • FRN: XS3484200541
• Documentation: SEB’s Global Programme for the Continuous Issuance of Medium Term Notes and Covered Bonds (the “Programme”) with information memorandum dated 12-Jun-26 (the “Information Memorandum”)
• Selling Restrictions: As per the Programme
• Fees: The Joint Bookrunners will be paid a fee by the Issuer in respect of the placement of the Notes
• Target Market: Manufacturer target market (EU MIFID II / UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No EU PRIIPs key information document (KID) or UK DISC disclosure document has been prepared as not available to retail in EEA or the UK
• Joint Bookrunners: Barclays, Commerzbank, Deutsche Bank, Natixis, Nomura, SEB
• Advertisement: The Base Prospectus and the Final Terms, when published, will be available at https://sebgroup.com/investor-relations/debt-investors
• Timing: Books subject at 12:30 CEST / 11:30 UKT