Commentary & Deal Flow

Reoffer: 5yr: MS+62bp / 99.987 / 4.128%
Benchmark: 5yr: OBL 2.9% 10-Aug-31, DE000BU25075 @ 97.993 / B+79.4bp (HR 98%)

Tranche 1 (5yr): Final books > €750m (incl. €140m JLM). Peak book > €900m (incl. €150m JLM)

Launched: 5yr: €500m @ MS+62bp - Books > €900m (incl. €150m JLM)
Book Update: Books > €850m (incl. €150m JLM)
IPTs: 5yr: MS+85a

• Issuer: Landesbank Saar (Ticker: SAARLB)
• Issuer LEI: 52990050SU0S4QQ4Z793
• Type: Senior Preferred, Unsecured, Unsubordinated (Notes)
• Format: Reg S, Bearer dematerialised
• Exp. Issue Rating: AA- (Fitch)
• Issuer Rating: Aa2 (Moody's) and AA- (Fitch)
• ECB Eligibility: The issue is expected to be ECB eligible
• Size: €500mn
• Maturity Date: 22-Sep-31 (5y)
• Settlement Date: 22-Sep-26 (T+5)
• Coupon: 4.125% Fixed, Annual Act/Act ICMA
• Reoffer: MS+62bp / 99.987% / 4.128% p.a.
• Benchmark: OBL 2.9% 10-Aug-31, DE000BU25075 (97.993%) +79.4bp (HR: 98%)
• Target Market: The manufacturer target market MIFID II product governance is eligible counterparties and professional clients only (all distribution channels). No EU PRIIPS key information document (KID) will be prepared as not available to retail in the EEA.
• Business Day Convention: Following, Unadjusted basis
• Business Days: T2
• Governing Law: German Law
• Redemption price: 100%
• Denomination: €100k + €100k
• Listing: Regulated Market of the Frankfurt Stock Exchange
• JLM: DekaBank, DZ Bank, Erste Group, Helaba (B&D) and Nord/LB
• Fees: The Banks will be paid a fee by the Issuer in respect of the placement of the securities
• ISIN / WKN: DE000SLB9310 / SLB931
• Timing: Priced TOE: 15:05 CET, FTT: 15:20 CET
• Advertisement: This communication is an advertisement and is not a prospectus. The Final Terms (when published) are available at https://saarlb.de/investor-relations/refinanzierung-und-emissionen/