Commentary & Deal Flow

Guidance: 3yr: MS+23a

• Issuer: Natixis Pfandbriefbank AG
• LEI: 529900J6VNDBVTKV7I86
• Ratings of the Issue: Aaa (Moody's; expected)
• Form of the Issue: Hypothekenpfandbrief (Mortgage Pfandbrief); Reg S Bearer only
• Guidance: MS+23bps area
• Amount: €250m (WNG)
• Trade Date: 15-Sep-26
• Settlement Date: 22-Sep-26 (T+5)
• Maturity Date: 24-Sep-29
• Coupon: [.]% p.a., annually, Act/Act (ICMA), unadjusted
• Interest Payment Dates: 24 September of each year, first Interest Payment Date on 24-Sep-27, long first coupon
• Business Days: TARGET2, Following Business Day Convention
• Redemption Price: 100.00%
• Denomination: €100k+100k
• Listing: Munich Stock Exchange
• Governing Law: German law
• ISIN / Series: DE000A5KW3K3 / Series 42
• Joint Bookrunners: Natixis (B&D), Nord/LB, Raiffeisen Bank International
• Documentation: Debt Issuance Programme dated 1-Jun-26
• Fees: The Banks will be paid a fee by the Issuer in respect of the placement of the securities
• Selling restrictions: See the relevant Documentation
• Target Market: Manufacturer target market (MIFID II product governance):Eligible Counterparties and Professional Clients only
• Schedule: Books open – Today's business