Commentary & Deal Flow

Reoffer: 7yr: MS+35bp / 99.535 / 3.827%
Benchmark: 7yr: DBR 2.6 15-Aug-33 @ 95.79 / B+52.8bp / HR 103%

7yr: Final Books at reoffer > €780m (incl. €50m JLM)

Launched: 7yr: €500m @ MS+35bp - Orderbook above €770m (incl. €50m JLM)
Guidance: 7yr: MS+38a

• Issuer: Sparkasse Hannover (Ticker: SSPHAN)
• LEI: 52990085XZWOZNLAWJ54
• Exp. Issue Rating: AAA by Fitch
• Status: Hypothekenpfandbrief (Mortgage Covered Bond)
• Covered Bond Label: European Covered Bond Premium
• Issue Size: 500mn
• Settlement: 30-Oct-26 (T+7)
• Maturity: 31-Oct-33 (7Y)
• Coupon: 3.75%, annual, act/act ICMA, unadjusted, Long first coupon
• Reoffer: MS+35 bps / 99.535 / 3.827%
• Benchmark: DBR 2.6 15-Aug-33 +52.8bps (95.79) / HR 103%
• Denominations: 1k
• Listing: Hannover, unregulated market (Freiverkehr)
• Governing Law: German
• Joint Bookrunners: BayernLB, Commerzbank (B&D), Danske Bank, DekaBank and DZ BANK
• MIFID II: Manufacturer target market (MIFID II product governance) are eligible counterparties, professional clients and retails clients (all appropriate distribution channels)
• Documentation: Base Prospectus dated 24-Sep-26 (https://www.sparkasse-hannover.de/de/home/ihre-sparkasse/zahlen-und-fakten/investor-relations/pfandbriefe.html)
• Fees: The joint bookrunners will be paid a fee in respect of the placement of the securities.
• ISIN/WKN: DE000A5GS7V3/A5GS7V
• Timing: Priced - TOE 14:24 CET / FTT 14:45 CET