Commentary & Deal Flow

Reoffer: 5yr: MS+19bp / 99.646 / 3.328%
Benchmark: 5yr: DBR 0 15-Aug-31 @ 86.43 / B+35.3bp (HR: 108%)

Final Books: > €2.1bn (incl. €305m JLM). Peak book > €2.6bn (incl. €280m JLM)

Launched: 5yr: €500m @ MS+19bp - Book > €2.6bn (incl. €280m JLM)
Book Update: Book in excess of €2bn (incl. €280m JLM)
Guidance: 5yr: MS+27a

• Issuer: Raiffeisen-Landesbank Steiermark AG (Ticker: RFLBST)
• Issuer Rating: A2 (stable outlook) by Moody’s
• Issuer LEI: 529900UNUKYZ9HND3309
• Exp. Issue ratings: Aaa (Moody's)
• Issue Type: Mortgage Covered Bond (Hypothekenpfandbrief) / European Covered Bond (Premium)
• Governing Law: Austrian
• Pricing Date: 20-Aug-26
• Settlement: 27-Aug-26 (T+5)
• Maturity: 27-Aug-31 (soft bullet)
• Size: €500m
• Reoffer: MS + 19bps/ 99.646% / 3.328%
• Benchmark: DBR 0 15-Aug-31 (86.43) + 35.3bps (HR: 108%)
• Coupon: 3.25% per annum from (and including) the Issue Date to (but excluding) the Maturity Date payable annually in arrear on 27 August in each year with the first interest payable on 27-Aug-27
• Denoms/Listing: 100k + 100k / Regulated Market of the Vienna Stock Exchange
• Target Market: Manufacturer target market (MIFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPS key information document (KID) has been prepared
• Documentation: Under the Issuer’s base prospectus (Angebotsprogramm für Schuldverschreibungen), dated 5-May-26, as supplemented
• Joint Bookrunners: ABN AMRO, Erste Group, Helaba, LBBW and Raiffeisen Bank International (B&D)
• Co-Lead: CMTA AG
• ISIN: AT0000A3WQC0
• Fees: The banks will be paid a fee by the Issuer in relation to the transaction
• Advertisement: The base prospectus including any supplements is available at and the final terms, when published, …
• Timing: Priced, TOE 14:19 CET // FTT 14:45 CET