Guarantor: Explicitly and unconditionally guaranteed by the German Federal State of Baden-Wuerttemberg
Rating: Aaa/AA+/AAA (Moody's/S&P/Fitch, Outlook stable)
ESG Rating: AAA / Low Risk / Prime (MSCI / Sustainalytics / ISS ESG)
Format: Reg S, Bearer, Senior unsecured
Size: £ Benchmark
Maturity: 31-Jul-31
Settlement: 12-Oct-26 (T+5)
Coupon: Fixed, Annual, Act/Act, short first coupon
Spread: SONIA MS (A, A/365) + 40bps# (currently equivalent to UKT 0 ¼ 31-Jul-31 +22.5)
Denoms: £1k + £1k
Listing: Luxembourg
Law: German
Docs: Issuer's Debt Issuance Programme
Bookrunners: Barc / BMO / DB (B&D/DM) / TD
Target Market: For MIFID II/UK MiFIR purposes target markets are eligible counterparties and professional clients (all distribution channels)
Advertisement: This communication is an advertisement for the purposes of Regulation (EU) 2017/1129 and underlying legislation. It is not a prospectus. The prospectus is available at: https://www.bourse.lu/issuer/LKrBkBadenWurtt/43647