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

The information included herein with respect to the underlyings to which the Certificates 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. In particular, the Issuer accepts no responsibility in
respect of the accuracy or completeness of the information set forth herein concerning the Underlyings of the
Certificates or that there has not occurred any event which would affect the accuracy or completeness of such
information.
[insert, if appropriate] [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 [l]].
The development of these Certificates depends particularly on the development of the Underlyings. As a consequence,
the market value of these Certificates may fluctuate depending on the development of the Underlyings,
offer and demand on the secondary market, and the credit-worthiness of the Issuer. A change in such factors may
lead to a fluctuation of the market value of the Certificates.
In case of a sale of the Certificates prior to their expiry date, investors may lose (partial) amounts invested as the
market value of such Certificates may be below the issue price.
For a detailed description of the risks associated with index-linked or other variable-linked Certificates, please
refer to the section Risk factors relating to the Notes of the Prospectus.]
[In the case of redemption at the minimum redemption amount: The minimum redemption amount only takes
effect at the end of the term. Therefore, an early redemption or a sale prior to its expiry date may result in a
lower amount.]
7 PARTICULARS OF COMPARTMENT ASSETS
The Compartment created for the purpose of the issuance of the Securities pursuant to the Final Terms and
the Issuer's 3,000,000,000 Debt Issuance Programme, represents independent assets of the Issuer. The
claims of the holders of Securities issued through a Compartment are limited to its Compartment Assets.
The Issuer may only fulfil its payment obligations from the Compartment Assets and no other assets are
available for the fulfilment of such obligations. If the Compartment Assets do not suffice for the purpose of
satisfying the claims of all the holders of the Securities issued through the Compartment (including the
possible claims of other creditors that Compartment may have), the Issuer is only obliged to fulfil its obligations
in respect of the issued Securities to the extent of available Compartment Assets. The details of the
Compartment Assets acquired through the proceeds of the Securities of this Issuance are given below.
Debt Instrument
[If applicable:] On or about the date of the issue of the Certificates, the Issuer will purchase a Debt Instrument
from a party designated as the Obligor of the Main Compartment Asset as follows:
Obligor of the Main Compartment Asset is VBAG. See, in respect of general information relating to VBAG,
its main activities and latest results, the details of the regulated market into which securities issued by it are
admitted, as well as the details of such securities, chapter 4.2 VBAG and the VBAG Group of the Prospectus
containing these Final terms.
Debt Instrument 7 ]
l] [insert details of other Obligor of Obligor Main of Main Compartment Compartment Aset is [ Asset for
7 To be inserted in respect of all the types of Obligors of Main Compartment Assets.
152