Commentary & Deal Flow

Reoffer: Long 8yr: MS+34bp / 99.484 / 3.826%
Benchmark: Long 8yr: DBR 2.6 15-Aug-34 @ 95.07 / +50.0bp / HR 105%

Long 8yr: Final Books above €925m (incl. €45m JLM). Peak book above €1.2bn (incl. €55m JLM)

Launched: Long 8yr: €500m @ MS+34bp - Books above €1.2bn (incl. €55m JLM)
Spread set at: Long 8yr: MS+34bp
Book Update: Books above €1bn (excl. JLM)
Guidance: Long 8yr: MS+39a

• Issuer: Wüstenrot Bausparkasse AG (Ticker: WUWGR)
• LEI: 529900S1KHK0EQL5CK20
• Status: Mortgage Covered Bond (Hypothekenpfandbrief), Reg S Bearer, LCR Level 1 & ECB eligible (expected)
• Label: European Covered Bond (Premium)
• Exp. Issue Rating: AAA by S&P
• Issue Size: €500m
• Tenor: Long 8-year
• Trade Date: 20-Oct-26
• Settlement Date: 27-Oct-26 (T+5)
• Maturity Date: 15-Jan-35
• Coupon: 3.750% p.a., fixed, annual, act/act ICMA, following, unadjusted, short first
• Reoffer: MS+34bp / 99.484 / Yield 3.826%
• Benchmark: +50.0bp vs DBR 2.6 15-Aug-34 (@95.07), HR 105%
• Denominations: €100,000 + 100,000
• Listing: Stuttgart Stock Exchange, Regulated Market
• Governing Law: German Law
• ISIN / WKN: DE000WBP0BT0 / WBP0BT
• Advertisement: The Base Prospectus is available and the Final Terms, when published, will be available at: https://www.ww-ag.com/de/investor-relations/anleihen/emissionen-wuestenrot
• Target market: Manufacturer target market (MIFID II / UK MIFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs KID as not available to retail in the EEA.
• Joint Lead Managers: Commerzbank (B&D), Erste Group, LBBW, NORD/LB and Société Générale
• Fees: The Banks will be paid a fee by the issuer in respect of the placement of the securities
• Timing: TOE: 14.37 CET / FTT: 14.55 CET