The partners
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Citibank International plc.
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Deutsche Bank AG
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Deutsche Postbank International S.A.
(Mr. Elmar Fuhs, Corporate Client Sales
Tel.: 00352 / 341390)
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J.P.Morgan Securities Ltd.
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UBS AG (acting through its business group UBS Warburg)
Currencies
The notes can be denominated in
Provided that the regulations and guidelines of the responsible central bank or other responsible authorities applicable to the currencies selected are observed in each case.
Term
The notes have a term of a maximum of 365 days (and of a maximum of 364 days in the case of Pounds Sterling and Swiss Francs), calculated in each case from their settlement date (inclusive) to their maturity date (exclusive), in line with the individual requirements specified in each case on the issue of the notes concerned. The minimum term of listed notes is 30 days.
Issues/Series of notes
The notes will have a nominal value of EUR 100,000 per note, or such other nominal value as is customary in the particular market or legally permissible for commercial papers in the currency selected, and are issued in series with an aggregate nominal value of a minimum of EUR 2,500,000 or the equivalent of this amount in each case. The issuer and the dealer concerned can, in individual cases, agree upon a lower nominal value for notes or series, whereby the nominal value should not fall below a lower limit of EUR 50,000 or the equivalent of this sum per note. Identical conditions apply to notes combined to form a series.
Form of the notes
Notes aggregated into a series are certified in one global bearer certificate ("global certificate") per series. All claims to the printing and delivery of individual notes are debarred.
Deliverability of the notes
The global certificate will be deposited with Clearstream Banking AG, Frankfurt am Main, previously known as Deutsche Börse Clearing AG, ("CBF") or with a common depositary (a "collective custodian" in each case) for Clearstream Banking société anonym, Luxemburg ("CBL") and Euroclear Bank S.A./N.V., as the operators of the Euroclear system ("Euroclear"). The notes are transferable as shares in the global certificate in accordance with the terms of business of CBF or of CBL or Euroclear.
Stock market flotation
The programme is already approved for listing on the Frankfurt Stock Exchange. Notes issued can be introduced to trading in listed securities on the Frankfurt Stock Exchange in so far as the notes have a minimum term to maturity of 30 days and are suitable for this purpose in terms of currency or other specific requirements; in particular, the issuer intends to float notes denominated exclusively in Euro on the Frankfurt Stock Exchange. In the case of listed notes, the issuing and paying agent will apply in due time and upon the instructions of the issuer for admission to listing in official trading on the Frankfurt Stock Exchange for the notes of each individual series and publish the specific conditions of the relevant series in supplements to the prospectus.
Securities accepted by the ECB
The notes denominated in Euro, which have an individual rating and are listed, are accepted by theEuropean Central Bank as a security suitable for refinancing purposes pursuant to category I.
