Commentary & Deal Flow

Tranche 1 (5yr): Final books > €1.2bn excl. JLM. Peak book: > €1.2bn excl. JLM
Benchmark: DBR 0% 15-Aug-31 (DE0001102564) / HR 110%
Hedge Deadline: 13:00 UKT / 14:00 CET

Launched: 5yr: €500m @ MS+22bp - Books > €1.1bn excl. JLM (pre-rec)
Book update: Books over €1bn (excl. JLM)
Guidance: 5yr: MS+27a

• Issuer: Achmea Bank N.V.
• LEI Code: 724500AH42V5X8BCPE49
• ISIN: XS3512792659
• Guarantor: Achmea SB Covered Bond Company B.V.
• Issuer Ratings: A- (stable) S&P / A (stable) Fitch
• Instrument: Fixed Rate Soft Bullet Covered Bond
• Expected Instrument Ratings: AAA (S&P)
• Form of the Covered Bonds: New Global Note, Reg S, Bearer
• Tenor: 5-year
• Size: €500m
• Use of Proceeds: General corporate purposes
• Type: Dutch Legislative Covered Bond, European Covered Bond (Premium)
• Pricing Date: 14-Sep-26
• Settlement Date: 21-Sep-26 (T+5)
• Maturity Date: 21-Sep-31
• Extended Due for Payment Date: 21-Sep-32
• Spread Set: MS+22bps
• Coupon: [●]%, Fixed rate, Actual/Actual ICMA, Following, Unadjusted
• Coupon for extended period: 1 month EURIBOR plus [●]% per annum, Monthly, ACT/360, Adjusted, Modified following
• Interest Payment Dates: 21 September in each year, commencing [21]-Sep-27, up to and including the Maturity Date, if applicable subject to the Business Day Convention
• Denominations: €100k+100k
• Business Day: Following Business Day Convention
• Redemption Price: 100% of Notional Amount
• Governing Law: Dutch Law
• Documentation: EUR 10,000,000,000 Euro Covered Bond Programme described in the Base Prospectus dated 23-Jan-26, as supplemented on 3-Apr-26
• Leads: Barclays, BNP Paribas (B&D), DZ Bank, NatWest, Santander and Rabobank
• Listing: Euronext Amsterdam
• Selling Restrictions: As set out in the Base Prospectus and supplements
• Clearing System: Euroclear/Clearstream
• Target Market: UK MiFIR / MiFID II professionals / ECPs-only / No EEA PRIIPs or UK CCI product summary
• Advertisement: The announcement is an advertisement for the purposes of Regulation (EU) 2017/1129. The investor presentation, base prospectus and any supplements, and final terms when published, will be available on the Issuer’s website at: https://www.achmeabank.nl/en/investors/funding/soft-bullet-covered-bond
• Schedule: Books closed 11.00UKT / 12.00 CET
• Benchmark: DBR 0% 15-Aug-31 (DE0001102564) / HR 110%
• Hedge Deadline: 13:00 UKT / 14:00 CET