Pre-Stabilisation notice
October 18, 2016
Not for distribution, directly or
indirectly, in or into the United
States or any jurisdiction in which such distribution would
be unlawful.
Kreditanstalt fuer
Wiederaufbau (KfW)
1.5% € 1bn Global
Tap senior, unsecured due 2024
Pre-Stabilisation Notice
Commerzbank AG (contact: Klaus-Peter
Eitel; telephone: +49 69 136 21668) hereby announces, as
Stabilisation Coordinator, that the Stabilising Managers named
below may stabilise the offer of the following securities in
accordance with Commission Delegated Regulation (EU) 2016/1052
under the Market Abuse Regulation (EU Regulation 596/2014).
| The
security to be stabilised: |
| Issuer: |
KfW |
| Guarantor (if
any): |
Republic of
Germany |
|
|
| Aggregate nominal
amount: |
EUR 1,000,000,000 |
| Description: |
Global, senior,
unsecured Notes |
| Offer price: |
tbc |
| Other offer terms: |
1.5% Global due
11th June 2024, settlement 25th October 2016,
denoms 1k, stand alone |
|
Stabilisation: |
Coordinating Stabilising Manager:
Stabilising Managers: |
Commerzbank AG
Deutsche Bank
HSBC |
| Stabilisation period
expected to start on: |
18th October
2016 |
| Stabilisation period
expected to end on: |
no later than 30 days
after the proposed issue date of the securities |
| Existence, maximum size
and conditions of use of over-allotment facility. |
The Stabilising
Managers may over-allot the securities to the extent permitted in
accordance with applicable law. |
| Stabilisation trading
venue: |
Frankfurt Stock
Exchange |
In connection with the offer of the above securities, the
Stabilising Managers may over-allot the securities or effect
transactions with a view to supporting the market price of the
securities during the stabilisation period at a level higher than
that which might otherwise prevail. However, stabilisation may not
necessarily occur and and any stabilisation action, if begun, may
cease at any time Any stabilisation action or over-allotment shall
be conducted in accordance with all applicable laws and rules.
This announcement is for information purposes only and does not
constitute an invitation or offer to underwrite, subscribe for or
otherwise acquire or dispose of any securities of the Issuer in any
jurisdiction.
This announcement is not for distribution, directly or
indirectly, in or into countries in which such distribution
would be unlawful.
END