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

The Issuer specifically points to the fact that changes in the market levels of interest rates during an interest
period may adversely affect the interest payable in subsequent interest periods.
In case of a sale of the Notes by an investor, investors may lose amounts (in part) invested as the market value of
such Notes may be below the issue price.
For a detailed description of the risks associated with floating rate Notes, please refer to the section "Risks regarding
the Securities" of the Base Prospectus.
[Please insert in the case of deviation from the standard-interest: The Issuer explicitly points to the fact that in
the case of a negative performance of the Underlying [description of the variable component] the amount of the
total return on interest may be below the market interest levels or the interest rate.]
[In the case of minimum interest rates: The minimum interest rate of this Note has been determined by taking
the standard interest rate at the time of the issuance of this Note less a deduction. Such deduction shall accommodate
for the fact that where otherwise the interest to be paid would have been lower, the minimum interest
rate constitutes a guaranteed interest rate.]
7 INDEX-LINKED OR OTHER VARIABLE-LINKED NOTES 8
l] (insert details)
not aplicable
[
[The information included herein with respect to the underlyings to which the Notes are linked (the “Underlyings”)
consists only of extracts from, or summaries of, publicly available information. The Issuer accepts responsibility
that such information has been correctly extracted or summarised. No further or other responsibility
in respect of such information is accepted by the Issuer [or any of the Subscribers (as defined in the Prospectus)].
In particular, the Issuer [and any of the Subscribers] accepts no responsibility in respect of the accuracy or completeness
of the information set forth herein concerning the Underlyings of the Notes or that there has not occurred
any event which would affect the accuracy or completeness of such information.]
Additional data and information such as previous or future developments of the Underlyings may be obtained by
inspecting the webpage of the relevant exchange on which the Underlyings are traded or through information
providers such as Bloomberg, Reuters or under www.onvista.de and www.comdirect.de.
The development of these Notes depends particularly on the development of the Underlyings. As a consequence,
the market value of these Notes may fluctuate depending on the development of the Underlyings, the market
levels of interest rates, offer and demand on the secondary market, full or partial payment of interest and or
principal by the Issuer and the credit-worthiness of the Issuer. A change in such factors may lead to a fluctuation
of the market value of the Notes. In case of a sale of the Notes by an investor during a period of declining interest
rate levels, investors may lose amounts invested as the market value of such Notes may be below the issue
price.
For a detailed description of the risks associated with index-linked or other variable-linked Notes, please refer
to the section "Risks regarding the Securities" of the Base Prospectus.
8 Need to include details of where past and future performance and volatility of the index/formula/other variable can be
obtained and a clear and comprehensive explanation of how the value of the investment is affected by the underlying
and the circumstances when the risks are most evident. [Where the underlying is an index need to include the name of
the index and a description if composed by the Issuer and if the index is not composed by the Issuer need to include
details of where the information about the index can be obtained. Where the underlying is not an index need to include
equivalent information.]
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