I This document constitutes the base prospectus of ... - Volksbank AG

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These Final Terms do not constitute an offer to sell or the solicitation of an offer to buy any Certificates or an investment recommendation. Neither the delivery of these Final Terms nor any sale hereunder shall, under any circumstances, create any implication that there has been no change in the affairs of the Issuer since the date hereof or that the information contained herein is correct as of any date subsequent to this date. Any important new or substantial incorrect information with regard to information contained herein which are of significance for the assessment of the Certificates and which have occurred since the date hereof and prior to the end of the public offer period or, of applicable, prior to the admission to trading shall be published in a supplement hereto. An investment in the Certificates carries a high degree of risk. See "Risk Factors" beginning on page [41] of the Prospectus for further details which shall be considered before investing in the Certificates. Investors which have an insufficient command of the English or the German language s necessary in order to read and understand the risk factors and the Prospectus should refrain from investing in the Certificates. [In case of Certificates with an Early Redemption Option offered to consumers, please insert: Investors should note that where the Terms and Conditions of the Certificates provide for a right of Early Redemption by the Issuer only, Certificate Holders usually receive a higher yield on their Certificates than they would if they were also granted a right of Early Redemption of the Certificates. Excluding the Certificate Holders' right to redeem the Certificates prior to their maturity is often a precondition for the Issuer being able to hedge its exposure under the Certificates. Thus, without Early Redemption by the Certificateholders being excluded, the Issuer would not be able to issue Certificates, or the Issuer would have to calculate the Redemption Amount taking into consideration hedging break costs, thus reducing the yield investors receive from the Certificates. Investors should therefore carefully consider whether they think that a right of Early Redemption only for the Issuer would be to their detriment, and should, if they think that this is the case, not invest in the Certificates.] [In case of Certificates with Early Redemption for tax reasons, changes in law, hedging disruption or increased hedging costs to consumers, please insert: Investors should note that the Terms and Conditions of the Certificates provide for a right of Early Redemption for certain reasons relating to the Underlying, changes in law, hedging disruption or increased hedging costs by the Issuer only. The Certificate Holders usually receive a higher yield on their Certificates than they would if such Early Redemption rights were not granted to the Issuer, as otherwise the Issuer would need to calculate potential future changes in Underlyings, or changes in law, hedging disruptions or increased hedging costs into the conditions of the Certificates which would reduce the yield investors receive from the Certificates. Investors should therefore carefully consider whether they think that a right of Early Redemption for certain reasons relating to the Underlying, changes in law, hedging disruption or increased hedging costs only for the Issuer would be to their detriment, and should, if they think that this is the case, not invest in the Certificates. The distribution of these Final Terms and the offering, sale and delivery of the Certificates in certain jurisdictions may be restricted by law. Persons into whose possession these Final Terms come are required by the Issuer to inform themselves about and to observe any such restrictions. For a further description of certain restrictions on the offering and sale of the Series, see 9.2 - Selling Restrictions of this Prospectus as supplemented or amended by these Final Terms. [in case of Certificates linked to hedge funds insert: The Certificates economically represent a hedge fund and an investment therefore carries a high degree of risk. Hence only a small part of the disposable funds should be invested into the Certificates and not all disposable funds or funds financed by credit should be invested into the Certificates. An investment into the Certificates will be offered to investors particularly knowledgeable in investment matters. Investors should participate in the investment only if they are in a position to consider carefully the risks associated with the Certificates.] 143
1. Issuer: LEVADE S.A., Compartment [l] 2. Series Number: See Offer Table 1 3. Type of Issue: permanent issue 2 4. Type of Certificate: Index-Certificate Bonus-Certificate Turbo-Certificate Discount-Certificate [l] (insert type) 5. Offer Period and method for paying up and delivering the Certificates: 6. Term of the Certificates (i) Start Date: See Offer Table (ii) Expiry Date: See Offer Table 7. Final Payment Date: See Offer Table 8. Specified Currency or Currencies: See Offer Table single issue [in case of a single issue, please also insert the issue date] [l] after the start of the term of the Certificates l] 9. Aggregate principal amount or amount of units: See Offer Table. The Issuer may increase the aggregate principal amount or the amount of units of the Certificates from time to time. 10. Specified Denomination: See Offer Table 11. Issue Price: See Offer Table 12. Interest: none other (specify) 13. Type of offer and prospectus requirement (i) Austria: no public offer public offer prospectus requirement exemption from the prospectus requirement pursuant to § 3 (1) Z 9 Austrian 1 Where See Offer Table is stated in this form, the Issuer has the right to replace this reference by another term, as it deems necessary from time to time. Where more than one option is available in these final terms, the Issuer may choose to apply more than one option. 2 Delete lines that are not selected or required, also in following final terms. 144
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This document constitutes the base
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ities should be based upon any such
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accounts of the Issuer dated 31 Dec
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8.1.1 Tax Treatment of Austrian Tax
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sets) and provided further that whe
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Selling restrictions. In the Federa
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Clearing System: Clearstream AG, Fr
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Withholding tax in respect of Notes
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Cross Default: There is no cross de
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Exposure to Compartment Asset risks
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Special risks relating to VBAG as t
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Financial information The financial
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2.1 General Description of the Prog
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The Derivative Agreements will prov
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already admitted to trading: the Re
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2.5 General Description of the Main
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carry out its obligations under the
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courts register (Edikt) and the app
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3. RISK FACTORS Prospective investo
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the risk of not being able to recei
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In VBAG's case, market risk may in
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Not EU-Europe 2,506 5,99% USA & Can
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3.4 Risks Regarding the Securities
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terms of the Pledge, be adjusted ac
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Factors influencing the credit spre
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Trading risk The listing of the Sec
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addition, a future yield expected b
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tially stronger impact on the price
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edemption will be made by delivery
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if the securities are marketed in a
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- Alexis Kamarowsky is a German law
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Cash Manager Subject to the terms o
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5. THE AUSTRIAN BANKING MARKET The
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Payments Payment of principal and i
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The Noteholders hold a co-ownership
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elow). In such a case it will be in
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Exchange is not a Trading Day, or s
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(3) Maximum and/or Minimum Rate of
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last day shall not be considered to
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days (or within another notice peri
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§ 5 (Payments) (1) Redemption curr
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(d) are payable by reason of a chan
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(d) the New Issuer is in the positi
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lent Market) (provided that Part B
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(ii) a description of the market in
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6.3.1 Supplementary Terms and Condi
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Scheduled Closing Time means in res
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(b) determine the days or the day r
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These Final Terms do not constitute
Page 99 and 100: 10. Specified Denomination: [l] [l]
Page 101 and 102: (iv) Other terms relating to the me
Page 103 and 104: [l] [Specify relevant screen page]
Page 105 and 106: (ii) Interest periods: - Interest c
Page 107 and 108: 26. Interest Payment Date(s): not a
Page 109 and 110: (v) Notice period: 2 31. Early Rede
Page 111 and 112: 38. Intended to be held in a manner
Page 113 and 114: OPERATIONAL INFORMATION 47. ISIN Co
Page 115 and 116: 1. LISTING Listing: Admission to tr
Page 117 and 118: The Issuer specifically points to t
Page 119 and 120: [Insert, as applicable: Obligor of
Page 121 and 122: [Insert Names] The following person
Page 123 and 124: forth herein concerning the Obligor
Page 125 and 126: [Insert the following: details of a
Page 127 and 128: matters. Investors should participa
Page 129 and 130: states and the District of Columbia
Page 131 and 132: market disruption exists. If no val
Page 133 and 134: of the assets and the capital of th
Page 135 and 136: have increased substantially (inclu
Page 137 and 138: (b) In the case of application of t
Page 139 and 140: (b) the New Issuer has obtained all
Page 141 and 142: (2) another credit institution inco
Page 143 and 144: (b) where such Compartment Assets a
Page 145 and 146: Start Date: [l] Expiry Date: [l] /
Page 147 and 148: Start Date: [l] Expiry Date: [l] /
Page 149: 6.4.1 Form of Final Terms of the Ce
Page 153 and 154: (vii) Screen page: See Offer Table,
Page 155 and 156: Payment to the Paying Agent is a va
Page 157 and 158: 1 LISTING Listing: Admission to tra
Page 159 and 160: The information included herein wit
Page 161 and 162: (i) Details of the market in which
Page 163 and 164: (viii) Trend information [Insert a
Page 165 and 166: a general description of the Obligo
Page 167 and 168: [where information was obtained fro
Page 169 and 170: 9 PUBLICATION OF THE RESULTS OF THE
Page 171 and 172: Zahlungen Kapital- und Zinszahlunge
Page 173 and 174: Teil A - Fixe Verzinsung Bei Schuld
Page 175 and 176: gegebenheiten und -gepflogenheiten
Page 177 and 178: Eine Marktstörung bedeutet, soweit
Page 179 and 180: (3) Maximal- und/oder Mindestzinssa
Page 181 and 182: die nächste Zinsperiode fällt, ge
Page 183 and 184: über die entsprechende Absicht inf
Page 185 and 186: ner Frist möglich, vorausgesetz, d
Page 187 and 188: sationsbetrag der Schuldverschreibu
Page 189 and 190: Hauptzahlstelle: Die in den Endgül
Page 191 and 192: § 12 (Unwirksamkeit. Änderungen)
Page 193 and 194: der Serienhauptvermögenswerte, wel
Page 195 and 196: (2) Vorbehaltlich Absatz (1) hat (a
Page 197 and 198: Außerordentliche Dividende bezeich
Page 199 and 200: Basiswerten). Unverzüglich nach Au
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7.3.2 Formular für die endgültige
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[im Fall von Hedgefonds-gebundenen
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14. Vorzeitige Rückzahlung nach Wa
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20a. (ii) Andere Bestimmungen im Zu
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(iv) Bandbreiten: nicht anwendbar [
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(iv) Sonstige Einzelheiten zur Zins
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29a. 29b. Rückzahlung abhängig vo
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(iii) Kündigungsfrist: 4 (iv) Besc
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39. Finanzzentrum (-zentren) oder a
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51. Hauptzahlstelle: The Bank of Ne
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1. 2. NOTIERUNG TEIL B - Andere Inf
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(iii) Geschätzte Gesamtkosten: [l]
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Schuldinstrument nicht anwendbar an
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mensitz unterscheidet), Gründungsd
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(xii) Gewinnprognosen oder Schätzu
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Nähere Informationen zum Rating un
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mens von dessen Aufsichtsbehörde;
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7.4 Bedingungen der Zertifikate Die
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(2) Schutzrechte. Falls erforderlic
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§ 8 (Marktstörung) (1) Marktstör
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gen des Fortbestehens von Marktstö
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sicherung von auf die Basiswerte (o
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(c) Im Falle der Anwendung der Floa
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aus oder im Zusammenhang mit den Ze
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diese Einlage vertretenden Sparbuch
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(B) wenn die Staatliche Einheit ein
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Laufzeitbeginn: [l] Laufzeitende: [
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Laufzeitbeginn: [l] Laufzeitende: [
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7.4.1 Formular für die endgültige
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[im Fall von Hedgefonds-gebundenen
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(v) Barriere: Gemäß Angebotsblatt
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am Main anderes / zusätzliches Cle
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1 2 NOTIERUNG TEIL B - ANDERE INFOR
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(iv) Andere Spesen: [l] 6 BESCHREIB
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ners des Serienhauptvermögenswerte
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(vi) Abschlussprüfer Abschlussprü
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(i) Allgemeine Informationen 9 [Jur
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[Folgendes einfügen: Angaben über
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Zusätzliche Risikofaktoren: [sofer
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If interest is realised upon aliena
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8.2 Germany Prospective investors a
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8.3 Czech Republic The following te
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Furthermore, if the Securities form
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Income obtained and taxed abroad is
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8.4.2.2.2 Non Residents Non residen
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Participating Member State, althoug
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8.6.1 Slovak Income Taxation Regard
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3. A third entity seated in the EU
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8.6.2.3 Income received from abroad
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8.7.1 Direct Taxes on Income Reside
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Tax rates are progressive and diffe
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Other terms of Part A will provide
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Save as described above, the Pledgo
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(a) as soon as practicable after de
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new Compartment and issue Securitie
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Relevant Member State except that i
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Japan (which term as used herein me
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(xiii) a copy of this Prospectus to
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12. INDEX OF DEFINITIONS This index
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IT 34 Luxembourg Account Bank......
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Annex 1 314
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316
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318
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320
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322
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324
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326
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German translation of the summary o
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Zertifikate: Die Emittentin kann In
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oder Verwahrstelle tätige Person o
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Kündigungsgründe: Die Emissions-
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Jeder Anleger sollte angesichts sei
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Sofern die begebenen Wertpapiere ei
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Finanzinformation Die nachstehenden
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estimmte Absicherungsvereinbarungen
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zahlbar durch die Emittentin, berec
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VBAG ist aufgrund möglicher Unzul
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EWR und Schweiz 10.398 24,86% Zentr
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en Funktion führen. Zusätzlich k
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Risiko im Zusammenhang mit dem Ausf
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zu veranlagen, können dies allenfa
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Das Währungsrisiko ist das Risiko
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eich, Tschechischen Republik, Ungar
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- Ergänzenden Emissionsbedingungen
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wird. Aus diesem Grund können sich
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Die Emittentin, die Dealer oder ihr
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LEGAL ADVISERS to the Arranger (Lux
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