Commentary & Deal Flow

Reoffer: Long 5yr: MS+25bp / 99.489 / 3.356%
Benchmark: Long 5yr: DBR 0 15-Feb-32 @ 85.31 / B+41.0bp / HR 109%

Long 5yr: Final books above €400m (incl. €70m JLM). Peak book above €500m (incl. €70m JLM)

Launched: Long 5yr: €250m @ MS+25bp - Books above €500m (incl. €70m JLM)
Book Update: Books €500m (incl. €70m JLM)
Guidance: Long 5yr: MS+29a

• Issuer: Raiffeisenverband Salzburg eGen
• Ticker: RFVBSA
• LEI: 529900LU7D396TOO3B50
• ISIN: AT0000A3WUY6
• Issue Type: Mortgage Covered Bond (hypothekarisch gedeckter Pfandbrief), European Covered Bond (Premium)
• Format: Reg S Bearer
• Exp. Issue Rating: Aaa (Moody's)
• Size: €250,000,000
• Settlement Date: 31-Aug-26 (T+4)
• Maturity Date: 1-Mar-32 (soft bullet)
• Reoffer: MS+25bp / 99.489 / 3.356%
• Benchmark: +41.0bp vs DBR 0 15-Feb-32 (@ 85.31), HR 109%
• Coupon: 3.25% p.a. Fixed rate, short first coupon on 1-Mar-27, thereafter payable annually in arrear (act/act ICMA, following, unadjusted)
• Business Days: T2, Vienna
• Listing: Vienna MTF
• Denominations / Law: €100k+100k / Austrian
• Target Market: Manufacturer target market (MiFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No EU PRIIPs key information document (KID) has been prepared
• Documentation: Under the Issuer's base prospectus (Angebotsprogramm für Schuldverschreibungen), dated 2-Jun-26, as supplemented
• Joint Bookrunners: Erste Group, LBBW, NORD/LB, Raiffeisen Bank International (B&D), UniCredit
• Fees: The Joint Bookrunners 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, will be available at: https://www.raiffeisen.at/rvs/de/meine-bank/raiffeisen-bankengruppe/investor-relations/eigene-emissionen/eigene-emissionen-des-raiffeisenverbandes-salzburg.html
• Timing: TOE: 14:04 CET / FTT: 14:24 CET