EUR 3000000000 debt issuance programme, 10 ... - Volksbank AG

ities should be based upon any such investigation as it deems necessary. Neither the Manager, the Subscriber
nor the Arranger undertake to review the financial condition or affairs of the Issuer during the life
of the arrangements contemplated by this Prospectus nor to advise any investor or potential investor in the
Securities of any information coming to the attention of any of the Manager, the Subscriber or the Arranger.
In connection with any Series or Tranche (as defined in “Summary of the Debt Issuance Programme”), the
Subscriber may (where prescribed by the Final Terms) act as a stabilising agent (the “Stabilising Agent”).
References in the next paragraph to “the issue of any Series or Tranche” are to each Series or Tranche in
relation to which a Stabilising Agent is appointed.
In connection with the issue of any Series or Tranche, the Subscriber named as the Stabilising Agent (or
persons acting on behalf of the Stabilising Agent) in the applicable Final Terms may over-allot Securities
(provided that the aggregate principal amount of the Securities allotted does not exceed 105 percent of the
aggregate principal amount of the relevant Series or Tranche) or effect transactions with a view to supporting
the market price of the Securities at a level higher than that which might otherwise prevail. However,
there is no assurance that the Stabilising Agent (or persons acting on behalf of a Stabilising Agent)
will undertake stabilisation action. Any stabilisation action may begin on or after the date on which adequate
public disclosure of the terms of the offer of the relevant Series or Tranche is made and, if begun,
may be ended at any time, but it must end no later than the earlier of 30 days after the issue date of the
relevant Series or Tranche and 60 days after the date of the allotment of the relevant Series or Tranche.
Such stabilising shall be in compliance with all applicable laws, regulations and rules.
In this Prospectus, unless otherwise specified or the context otherwise requires, references to “EUR”,
“Euro” and “€” are to the currency introduced at the third stage of European economic and monetary
union pursuant to the Treaty establishing the European Community as amended by the Treaty on European
Union and references to “USD” and “US dollar” are to the currency of the United States of America.
Certain monetary amounts and currency transactions included in this Prospectus have been subject to
rounding adjustments. Accordingly, the figures shown as totals in certain tables may not be an arithmetic
aggregation of the figures which precede such totals.
This Prospectus contains statements that constitute forward-looking statements. Words such as “believes”,
“anticipates”, “expects”, “estimates”, “intends”, “plans”, “will”, “may”, “should” and similar expressions
are intended to identify forward-looking statements but are not the exclusive means of identifying
such statements. These statements include those regarding the intent, belief or current expectation of the
Issuer and its officers with respect to, among other things: (a) the financial condition of the Issuer and the
characteristics of its strategy, products or services; (b) the Issuer’s plans, objectives or goals, including
those related to products or services; (c) statements of future economic performance and (d) assumptions
underlying those statements.
Forward-looking statements are not guarantees of future performance and involve risks and uncertainties
and actual results may differ from those in the forward-looking statements as a result of various factors.
Accordingly, prospective purchasers of Securities should not rely on such forward-looking statements. The
information in this Prospectus, including the information set out in “3 - Risk Factors” and “4 - Description
of the Issuer and Other Entities Participating in the Issuance” identifies important factors that could
cause such differences including, inter alia, change in the Issuer’s or its shareholders’ financial condition
and the effect of new legislation or government regulations (or new interpretation of existing legislation or
government regulations) in the EU in general and Luxembourg and Austria in particular. Such forwardlooking
statements speak only as at the date of this Prospectus. Accordingly, no transaction party (“Transaction
Party”) undertakes any obligation to update or revise any of them whether as a result of new information,
future events or otherwise. No Transaction Party makes any representation, warranty or prediction
that the results anticipated by such forward-looking statements will be achieved and such forward-looking
statements represent, in each case, only one of the many possible scenarios and should not be viewed as the
most likely standard scenario. Moreover, no assurance can be given that any of the historical information,
trends or practices mentioned and described in the Prospectus are indicative of future results or events.
This Prospectus is to be read in conjunction with all documents which are deemed to be incorporated
herein by reference (see “Documents Incorporated by Reference” below).
III