Commentary & Deal Flow

Reoffer: 6NC5: MS+75bp / 99.973 / 4.131%
Benchmark: 6NC5: OBL 2.9% Oct-31s #194 (HR: 98%) @ 98.82 / B+97.5bp

Tranche 1 (6NC5): Final books closed €2.9bn+. Peak book €3bn+ (pre-rec)

Launched: 6NC5: €500m @ MS+75bp - Books €3bn+ (pre-rec)
Book Update: Books €1.5bn+
IPTs: 6NC5: MS+105a

• Issuer: Jyske Bank A/S (Ticker: JYBC)
• LEI: 3M5E1GQGKL17HI6CPN30
• Issuer ratings: A+ (Stable) by S&P
• Exp. issue ratings: A+ by S&P. A securities rating is not a recommendation to buy, sell or hold securities. Ratings may be subject to revision or withdrawal at any time, and each rating should be evaluated independently of any other rating
• Status of the Notes: Preferred Senior
• Format: Reg S, Registered
• TEFRA Certification: TEFRA Not Applicable
• Launch Date: 15-Oct-26
• Trade Date/Interest Commencement Date: 21-Oct-26 (T+4)
• Maturity Date: 21-Oct-32
• Optional Redemption Date/Reset Date: 21-Oct-31
• Re-offer: MS+75bp / 99.973 / 4.131%
• Issue Size: €500m
• Coupon: 4.125% Fixed Rate Reset, Annually, Act/Act ICMA
• Fixed Reset Rate of Interest: 1 Year MS + Margin, per annum. Interest will be calculated on the basis of Actual/Actual
• Benchmark: OBL 2.9% Oct-31s #194 (HR: 98%) @ 98.82 / B+97.5bp
• Interest Payment Dates: From (and including) the Interest Commencement Date to (but excluding) the Optional Redemption Date, interest on the Notes will accrue at the Initial Rate of Interest and will be payable annually in arrear on 21-Oct in each year from (and including) 21-Oct-27, up to (and including) the Optional Redemption Date. From (and including) the Optional Redemption Date to (but excluding) the Maturity Date, interest on the Notes will accrue at the relevant Fixed Reset Rate of Interest and will be payable annually in arrear on 21-Oct-32
• Day Count Fraction: Act/Act ICMA
• Business Day Convention: Following, Unadjusted
• Early Redemption For Taxation Reasons: For tax reasons as per Condition 8(b)(A) subject to Condition 8(l)
• Events of Default: No Events of Default, limited Enforcement Events as described in the Prospectus
• MREL Substitution/Variation Option: Applicable as per Condition 8(k) subject to Condition 8(l)
• MREL Disqualification Event Redemption Option: Applicable as per Condition 8(d) subject to Condition 8(l)
• Waiver Set-off: No Noteholder shall be entitled to exercise any right of set-off or counterclaim in respect of the Notes
• Statutory Loss Absorption: Each Noteholder acknowledges that the Notes may be subject to Danish Statutory Loss Absorption Powers
• Denominations: €100k + €1k
• Listing: Euronext Dublin (regulated)
• Clearing: Euroclear / Clearstream
• Governing Law: Danish law
• Call Option: The Issuer may redeem the Notes in whole on the Optional Redemption Date as per Condition 8(e)(subject to Condition 8(I))
• Documentation: EUR 10,000,000,000 Euro Medium Term Note Programme Base Prospectus dated 21-Apr-26 (the Base Prospectus)
• Selling Restrictions: As per the Base Prospectus
• MIFID Target Market: Manufacturer target market (MiFID II and UK MiFIR product governance) is Professional Clients and Eligible Counterparties only (all distribution channels). No EU PRIIPs key information document (KID) or UK DISC disclosure document has been prepared as the Notes are not available to retail in EEA or in UK
• Use of Proceeds: General banking and other corporate purposes
• Bookrunners: BofA Securities, Deutsche Bank, Erste Group, Jyske Bank, Morgan Stanley (B&D), Nordea
• ISIN: XS3547741606
• Advertisement: The Prospectus is available and the Final Terms, when published, will be available on the website of Euronext Dublin at: https://live.euronext.com/en/product/bonds-detail/24198/overview
• Timing: Priced // TOE: 15:30 CET // FTT: 16:00 CET