RAIFFEISENLANDESBANK NIEDERÖSTERREICH-WIEN AG

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Step-Up and Step-Down Notes Zero Coupon Notes Dual Currency Notes Instalment Notes Inflation-related Notes Range Accrual Notes 10 Interest rates on step-up Notes increase over the years, interest on stepdown Notes decrease over the years. The dates on which interest increases or decreases, respectively, and the interest rates are predetermined. There are also combinations of step-up and step-down Notes, whereby the predetermined interest rate may increase or decrease from one year to another. Zero coupon Notes will be offered and sold at a discount to their principal amount or on an accumulated interest basis, in each case without periodic payments of interest. Dual currency Notes are Notes where payment of principal and/or payment of interest can be made in different currencies. Payments (whether in respect of principal or interest and whether at maturity or otherwise) in respect of dual currency Notes will be made in such currencies, and based on such rates of exchange, as the Issuer and the relevant Dealer may agree, as specified in the applicable Final Terms. Instalment Notes are Notes, where payment of principal is made in instalments. Instalment will be made as the Issuer and the relevant Dealer(s) may agree (as indicated in the applicable Final Terms). Inflation-related Notes bear interest at a minimum interest rate as specified in the Final Terms plus a rate determined by reference to changes in the unrevised and harmonised consumer price index (without tobacco) for the Euro-Zone (HVPI) calculated on a monthly basis by the Statistical Office of the European Community (EUROSTAT). Range Accrual Notes bear interest at a floating rate of interest linked to a formula as specified in the Final Terms. On the Interest Determination Date, the Calculation Agent determines for the relevant current interest period in arrear the number of calendar days within an Observation Period, on which the determined reference rate fell within a pre-defined range. The number of calendar days on which the determined reference rate fell within that range will positively affect the rate of interest for the relevant Interest Period. Steepener Notes Steepener Notes are Notes with a variable interest rate which amounts to the difference or a multiple of the difference between two reference rates. Index Linked Notes Index linked Notes may be issued as index linked interest Notes or index linked redemption Notes or a combination of both. Index Linked Interest Notes Payments of interest in respect of index linked interest Notes will be made by reference to a single index or other factors (including changes in the price of securities and commodities or movements in exchange rates) and/or such formula as may be specified by the Issuer and the relevant Dealer (as indicated in the applicable Final Terms). Index Linked Redemption Notes Payments of principal in respect of index linked redemption Notes will be calculated by reference to a single index or other factors (including changes in the price of securities and commodities or movements in exchange rates) and/or such formula as may be specified by the Issuer and the relevant Dealer(s) (as indicated in the applicable Final Terms). Each nominal amount of Notes equal to the lowest specified denomination specified in the applicable Final Terms will be redeemed by payment of the redemption amount specified in or as determined pursuant to provisions in the applicable Final Terms.
Other provisions in relation to Floating Rate Notes and Index Linked Interest Notes Covered Bonds Equity Linked Notes 11 Floating rate Notes and index linked interest Notes may also have a maximum interest rate ("Cap"), a minimum interest rate ("Floor") or both. Interest on floating rate Notes and index linked interest Notes in respect of each interest period, as selected prior to issue by the Issuer and the relevant Dealer, will be payable on such interest payment dates specified in, or determined pursuant to, the applicable Final Terms and will be calculated as specified in the applicable Final Terms. Covered Bonds are non-equity securities within the meaning of Art. 22 No. 6(3) of Commission Regulation (EC) No. 809/2004 of 29 April 2004 and may be issued under the Programme in accordance with the provisions of the Austrian Law on Covered Bonds of Banks, as amended, (Gesetz betreffend fundierte Bankschuldverschreibungen) and the Articles of Association of RLB NÖ-Wien. Covered Bonds are secured or "covered" by assets which meet the requirements set out in the Austrian Law on Covered Bonds of Banks, as amended, and the Articles of Association of RLB NÖ-Wien. In accordance with Section 1 Paragraph 9 of the Austrian Law on Covered Bonds of Banks, RLB NÖ-Wien has formed two separate pools of assets to secure Covered Bonds: - The mortgage-backed pool of assets (hypothekarischer Deckungsstock) contains primarily assets in accordance with Section 1 Paragraph 5 items 1 and 2 of the Austrian Law on Covered Bonds of Banks. The Issuer intends that, at the time of issuance of covered bonds, the mortgage-backed pool of assets will consist of at least 80% mortgage backed claims in accordance with Section 1 Paragraph 5 item 2 of the Austrian Law on Covered Bonds of Banks. The Issuer further intends that the mortgage-backed pool of assets at any time consists of at least 50% mortgage backed claims in accordance with Section 1 Paragraph 5 item 2 of the Austrian Law on Covered Bonds of Banks. Furthermore the Issuer has stipulated that for the calculation of the cover pool required in accordance with Section 1 Paragraph 8 of the Austrian Law on Covered Bonds of Banks, claims attributed to the mortgage-backed pool of assets, for which a mortgage is registered in public records, will be taken into account at a maximum of 60% of the value of the collateral securing such claims and prior ranking rights will be deducted from such value. - The public pool of assets (öffentlicher Deckungsstock) consists primarily of assets held against or secured by public debtors in accordance with Section 1 Paragraph 5 items 3 and 4 of the Austrian Law on Covered Bonds of Banks. In the event that RLB NÖ-Wien becomes insolvent (or otherwise fails to make payments in respect of the Covered Bonds in accordance with the Terms and Conditions of the Notes), the holders of the Covered Bonds have a preferred claim on the respective pool of assets which covers the relevant Covered Bonds. Covered Bonds covered by one pool of assets have no right for preferred satisfaction from the other pool of assets. Disposals from each pool of assets are subject to the approval of a Government Commissioner and the level of cover provided by each pool of assets is thereby controlled by such Government Commissioner. Equity linked Notes may be issued in the form of equity linked interest Notes or equity linked redemption Notes or a combination of both. Equity Linked Interest Notes Payments of interest in respect of equity linked interest Notes will be calculated by reference to a single equity security or basket of equity
Page 1 and 2: This document constitutes two base
Page 3 and 4: 3 amended, and are subject to U.S.
Page 5 and 6: I. General 5 GENERAL DESCRIPTION OF
Page 7 and 8: Integrated Conditions 7 If the Fina
Page 9: 9 Subordinated Notes will have a mi
Page 13 and 14: Negative Pledge Events of Default a
Page 15 and 16: 15 Summary regarding Risk Factors S
Page 17 and 18: 17 Notes in advance. The more volat
Page 19 and 20: Raiffeisen-Bankengruppe Niederöste
Page 21 and 22: Regulatory Information 1) Risk-weig
Page 23 and 24: Stückelungen der Schuldverschreibu
Page 25 and 26: Raten- Schuldverschreibungen Inflat
Page 27 and 28: Equity Linked Schuldverschreibungen
Page 29 and 30: Drittverzug Platzierung Börsenzula
Page 31 and 32: • Tätigkeit in wettbewerbsintens
Page 33 and 34: Range Accrual Schuldverschreibungen
Page 35 and 36: Niederösterreich 35 Organe Vorstan
Page 37 and 38: 37 Friedrich-Wilhelm-Raiffeisen-Pla
Page 39 and 40: 39 RISK FACTORS The following is a
Page 41 and 42: 41 significant parts of RZB's busin
Page 43 and 44: 43 According to the recent presiden
Page 45 and 46: 45 With its activities outside Aust
Page 47 and 48: Risk control and successful risk ma
Page 49 and 50: Fixed Rate Notes and Step-up and St
Page 51 and 52: 51 Covered Bonds (Fundierte Banksch
Page 53 and 54: 53 TERMS AND CONDITIONS OF THE NOTE
Page 55 and 56: 55 RAIFFEISENLANDESBANK NIEDERÖSTE
Page 57 and 58: 57 Denomination] for a Note in a de
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Notes. 61 (2) Accrual of Interest.
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63 though such Holders may not be i
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65 insert: Such partial redemption
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2953 Luxembourg Luxembourg] 67 [RAI
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69 combination, with another compan
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Debtor.]] [If the Notes are to prov
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73 any price. Notes purchased by th
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75 (TERMS AND CONDITIONS OF THE NOT
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77 Bei Rückzahlung [oder Zahlung e
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79 Bankschuldverschreibungen, die d
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81 (der mittlere Swapsatz gegen den
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83 [Sofern eine andere Methode der
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85 Zinsberechnungszeitraum dividier
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87 gegenüber den Gläubigern vorze
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89 Wahl-Rückzahlungstag(e) (Put) W
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Emissionsstelle: Citibank, N.A. Lon
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93 [Im Fall von nicht Nachrangigen
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[Im Fall von Fundierten Bankschuldv
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[Im Fall der Bestellung des gemeins
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99 verbriefenden Globalurkunde vor,
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101 If the Terms and Conditions pro
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103 dated 11 May 2012 as amended an
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105 Number of Notes to be issued in
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Floating Rate Notes 13 Variabel ver
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Zero Coupon Notes Nullkupon-Schuldv
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111 Minimum Redemption Amount [ ] M
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113 als die einfache Mehrheit - (Pr
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Eurosystem eligibility 28 EZB-Fähi
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[insert details here] [Einzelheiten
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[Specify details] [Einzelheiten ein
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Commissions 45 Provisionen 121 Mana
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123 [specify whether the relevant r
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125 - Consolidated profit for the y
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127 - Conversion of preference shar
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129 cooperation cost advantages for
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131 Net interest income after impai
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133 1.7 million members Raiffeisen
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135 Michael Rab Member of the Board
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137 Member of the Supervisory Board
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139 Sibylla Wachsler* Member of the
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141 Auditing of Historical Annual F
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143 covering at least the previous
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145 TAXATION The following is a gen
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Inheritance and Gift Tax 147 No inh
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149 costs; in both cases (amount re
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151 member states regarding interes
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153 Payments of interest or similar
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155 (d) Notes, other than Notes wit
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157 (b) it has only communicated or
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159 which a mortgage is registered
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161 NAMES AND ADDRESSES Issuer RAIF
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163 Joint Auditors of the consolida
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RAIFFEISENLANDESBANK NIEDERÖSTERREICH-WIEN AG

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