I This document constitutes the base prospectus of ... - Volksbank AG
I This document constitutes the base prospectus of ... - Volksbank AG
I This document constitutes the base prospectus of ... - Volksbank AG
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<strong>This</strong> Prospectus contains all relevant information with regard to <strong>the</strong> Issuer and <strong>the</strong> Securities which,<br />
according to <strong>the</strong> particular nature <strong>of</strong> <strong>the</strong> Issuer and <strong>the</strong> Securities, is necessary to enable investors to<br />
make an informed assessment <strong>of</strong> <strong>the</strong> assets and liabilities, financial position, pr<strong>of</strong>it and losses and<br />
prospects <strong>of</strong> such Issuer and <strong>the</strong> rights attached to <strong>the</strong> Securities.<br />
<strong>This</strong> Prospectus may be used solely for <strong>the</strong> purpose <strong>of</strong> considering an investment in <strong>the</strong> Securities described<br />
in <strong>the</strong> Debt Issuance Programme; any o<strong>the</strong>r usage <strong>of</strong> this Prospectus is unauthorised.<br />
The Issuer accepts responsibility for <strong>the</strong> information contained in this Prospectus and confirms that it has<br />
taken all reasonable care to ensure that <strong>the</strong> information contained in <strong>the</strong> Prospectus relating to it is, to <strong>the</strong><br />
best <strong>of</strong> its knowledge, in accordance with <strong>the</strong> facts and contains no omissions likely to affect its import.<br />
Where information was supplied by third parties, <strong>the</strong> Issuer confirms that it was faithfully reproduced and<br />
no facts have been in so far as <strong>the</strong> Issuer is aware and/or is able to ascertain from information published<br />
by a third party misrepresented which might cause <strong>the</strong> reproduced information to be incorrect or misleading.<br />
No fur<strong>the</strong>r or o<strong>the</strong>r responsibility in respect <strong>of</strong> such information is accepted by <strong>the</strong> Issuer.<br />
No person is or has been authorised to give any information or to make any representation o<strong>the</strong>r than<br />
those contained in this Prospectus in connection with <strong>the</strong> issue or sale <strong>of</strong> <strong>the</strong> Securities and, if given or<br />
made, such information or representation must not be relied upon as having been authorised by <strong>the</strong> Issuer,<br />
<strong>the</strong> Subscriber or <strong>the</strong> Arranger (each as defined in Summary <strong>of</strong> <strong>the</strong> Debt Issuance Programme). Nei<strong>the</strong>r<br />
<strong>the</strong> delivery <strong>of</strong> this Prospectus nor any sale made in connection herewith shall, under any circumstances,<br />
create any implication that <strong>the</strong>re has been no change in <strong>the</strong> affairs <strong>of</strong> <strong>the</strong> Issuer since <strong>the</strong> date here<strong>of</strong> or <strong>the</strong><br />
date upon which this Prospectus has been most recently supplemented or that <strong>the</strong>re has been no adverse<br />
change in <strong>the</strong> financial position <strong>of</strong> <strong>the</strong> Issuer or VB<strong>AG</strong> since <strong>the</strong> date here<strong>of</strong> or <strong>the</strong> date upon which this<br />
Prospectus have been most recently supplemented or that any o<strong>the</strong>r information supplied in connection<br />
with <strong>the</strong> Debt Issuance Programme is correct as <strong>of</strong> any time subsequent to <strong>the</strong> date on which it is supplied<br />
or, if different, <strong>the</strong> date indicated in <strong>the</strong> <strong>document</strong> containing <strong>the</strong> same.<br />
Law may restrict <strong>the</strong> distribution <strong>of</strong> this Prospectus and <strong>the</strong> <strong>of</strong>fering or sale <strong>of</strong> <strong>the</strong> Securities in certain<br />
jurisdictions. Persons into whose possession this Prospectus comes are required by <strong>the</strong> Issuer, <strong>the</strong> Subscriber<br />
and <strong>the</strong> Arranger to inform <strong>the</strong>mselves about, and to observe, any such restriction. For a description<br />
<strong>of</strong> certain restrictions on <strong>of</strong>fers and sales <strong>of</strong> Securities and on distribution <strong>of</strong> this Prospectus, see 9.2<br />
- Selling Restrictions.<br />
The Securities have not been and will not be registered under <strong>the</strong> United States Securities Act <strong>of</strong> 1933, as<br />
amended (<strong>the</strong> Securities Act) and may include Securities in bearer form that are subject to U.S. tax law<br />
requirements. Subject to certain exceptions, Securities may not be <strong>of</strong>fered, sold or delivered within <strong>the</strong><br />
United States or for <strong>the</strong> account and benefit <strong>of</strong> U.S. persons (See more, 9.2 - Selling Restrictions).<br />
Under US Treasury Regulation § 1.163-5(c)(2)(i)(C) (<strong>the</strong> C Rules), Securities in bearer form must be issued and<br />
delivered outside <strong>the</strong> United States and its possessions in connection with <strong>the</strong>ir original issuance. The Issuer<br />
and <strong>the</strong> Subscriber have not <strong>of</strong>fered, sold or delivered, and will not <strong>of</strong>fer, sell or deliver, directly or indirectly,<br />
Securities in bearer form within <strong>the</strong> United States or its possessions in connection with <strong>the</strong>ir original issuance.<br />
Fur<strong>the</strong>r, in connection with <strong>the</strong> original issuance <strong>of</strong> Securities in bearer form, <strong>the</strong> Issuer and <strong>the</strong> Subscriber have<br />
not communicated, and will not communicate, directly or indirectly, with a prospective purchaser within <strong>the</strong><br />
United States or its possessions or o<strong>the</strong>rwise involve any <strong>of</strong> <strong>the</strong>ir employees, agents or <strong>of</strong>fices within <strong>the</strong> United<br />
States or its possessions in <strong>the</strong> <strong>of</strong>fer and sale <strong>of</strong> Securities in bearer form (See more, 9.2 - Selling Restrictions).<br />
<strong>This</strong> Prospectus does not constitute an <strong>of</strong>fer <strong>of</strong>, or an invitation by or on behalf <strong>of</strong> <strong>the</strong> Issuer, <strong>the</strong> Manager,<br />
<strong>the</strong> Subscriber or <strong>the</strong> Arranger to subscribe for, or purchase, any Securities.<br />
The Manager, <strong>the</strong> Subscriber and <strong>the</strong> Arranger have not separately verified <strong>the</strong> information contained in<br />
this Prospectus. Nei<strong>the</strong>r <strong>the</strong> Manager, <strong>the</strong> Subscriber nor <strong>the</strong> Arranger make any representation, express<br />
or implied, or accept any responsibility, with respect to <strong>the</strong> accuracy or completeness <strong>of</strong> any <strong>of</strong> <strong>the</strong> information<br />
in this Prospectus. Nei<strong>the</strong>r this Prospectus nor any o<strong>the</strong>r financial statements are intended to provide<br />
<strong>the</strong> basis <strong>of</strong> any credit or o<strong>the</strong>r evaluation and should not be considered as a recommendation by any<br />
<strong>of</strong> <strong>the</strong> Issuer, <strong>the</strong> Manager, <strong>the</strong> Subscriber or <strong>the</strong> Arranger that any recipient <strong>of</strong> this Prospectus or any<br />
o<strong>the</strong>r financial statements should purchase <strong>the</strong> Securities. Each potential purchaser <strong>of</strong> Securities should<br />
determine for itself <strong>the</strong> relevance <strong>of</strong> <strong>the</strong> information contained in this Prospectus and its purchase <strong>of</strong> Secu-<br />
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