Commentary & Deal Flow

Reoffer: 5yr: MS+32bp / 99.734 / 3.559%
Benchmark: DBR 0% 15-Aug-31 TWIN / 86.15 / B+49.3bp / HR 109%

Final Books: €2.1bn (incl. €270m JLM)

Guidance: 5yr: MS+40a

• Issuer: UniCredit Bank Czech Republic and Slovakia, a.s.
• LEI: KR6LSKV3BTSJRD41IF75
• Exp. Issue Rating: Aa1 (Moody's)
• Issue Type: Mortgage Covered Bond, European Covered Bond (Premium), ECBC Covered Bond Label compliant
• Format: Regulation S, Bearer form, New Global Covered Bond ("NGCB")
• Size: €750m
• Compliance: CRR Art.129 and Solvency II (intended), LCR Level 1
• Eligibility: Intended to be compliant for ECB and CNB repo purposes
• Settlement: 10-Sep-26 (T+5)
• Maturity Date: 10-Sep-31 (5y, soft bullet)
• Coupon (until Maturity Date): 3.5%, Fixed, annual, ACT/ACT ICMA
• Coupon (if Maturity is extended): Floating, 1 month Euribor + 32bp
• Reoffer: 99.734 / MS+32bp / 3.559% / B+49.3bp (HR 109% - cash price 86.15)
• Benchmark: DBR 0% 15-Aug-31 TWIN
• Listing/Law: Luxembourg Stock Exchange, Regulated Market / German law. The Mortgage Covered Bonds, although otherwise governed by, and construed in accordance with, German law, will be subject to and will benefit from certain provision of Czech law applicable to mortgage covered bonds (in Czech, hypoteční zástavní listy)
• ISIN: XS3499982463
• Denoms: €100,000 and integral multiples of €100,000 in excess thereof
• Global Coordinator: UniCredit (B&D)
• Bookrunners / Joint Leads: DZ BANK, Helaba, IMI – Intesa Sanpaolo, Nordea, NORD/LB, Raiffeisen Bank International, and UniCredit
• Documentation: Base prospectus in respect of the €12bn Mortgage Covered Bond Programme dated 26-Aug-26 (the "Base Prospectus")
• Target Market: MiFID II professionals/ECPs-only – Manufacturer target market (MiFID II product governance) is eligible counterparties and professional investors only (all distribution channels). No PRIIPs key information document has been prepared as not available to retail in EEA. UK MiFIR professionals/ECPs-only - Manufacturer target market (UK MiFIR product governance) is eligible counterparties and professional investors only (all distribution channels). No UK PRIIPs key information or CCI product summary document has been prepared as not available to retail in the UK
• Taxation Procedures: Gross up obligation is to apply, subject to certain exceptions described in the Base Prospectus. Investors of the Mortgage Covered Bonds will be required to follow the tax certification procedures for the Czech Republic implemented by Euroclear and Clearstream, Luxembourg, as amended or replaced from time to time, which are designed to facilitate collection of beneficial ownership information by or on behalf of the issuer and are available at the website of the International Capital Market Services Association at www.icmsa.org. See the Base Prospectus and the Final Terms for further details.
• Fees: The Banks will be paid a fee by the Issuer in connection with the transaction. Details of the fee may be made available to investors on request from your usual sales.
• Hedge Deadline: 14.00 CET / 13.00 UKT
• Timing: Priced: TOE: 14.21 CET; 13.21 UKT / FTT: 14.45 CET; 13.45 UKT