BASF SE BASF Finance Europe N.V. - BASF.com

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28 Punkt Abschnitt E – Angebot von Schuldverschreibungen E.2b Gründe für das Angebot und Zweckbestimmung der Erlöse, sofern diese nicht in der Gewinnerzielung und/oder der Absicherung bestimmter Risiken liegen. E.3 Beschreibung der Angebotskonditionen E.5 Beschreibung aller für die Emission/das Angebot wesentlichen, auch kollidierenden Interessen. E.7 Schätzung der Ausgaben, die dem Anleger vom Emittenten oder Anbieter in Rechnung gestellt werden. [●] [Ein öffentliches Angebot findet nicht statt und wird nicht in Betracht gezogen.] Die Gesamtsumme [der Emission] [des Angebots] beträgt [●]. [Die Angebotsfrist beginnt am [●] und endet am [●].] [Der Mindestzeichnungsbetrag beträgt [●].] [Der Höchstzeichnungsbetrag beträgt [●].] [Der Preis, zu dem die Schuldverschreibungen voraussichtlich angeboten werden, ist [●].] [●] [●] [●]
29 RISK FACTORS The following is a disclosure of risk factors that may affect the ability of BASF and BASF Finance to fulfil their respective obligations under the Notes and the Guarantee and that are material to the Notes issued under the Program in order to assess the market risk associated with these Notes. Prospective investors should consider these risk factors before deciding to purchase Notes issued under the Program. Prospective investors should consider all information provided in this Prospectus and consult with their own professional advisers (including their financial, accounting, legal and tax advisers) if they consider it necessary. In addition, investors should be aware that the risks described might combine and thus intensify one another. RISK FACTORS REGARDING BASF SE AND BASF GROUP BASF Group's business, financial condition or results of operations could suffer adverse material effects due to any of the following risks. While all the risks considered material are described below, these are not the only risks BASF Group faces. Additional risks not known by BASF or not presently considered material might also impair BASF Group's business operations. Demand fluctuations due to volatility in market growth may adversely affect BASF Group's sales and earnings. The development of demand in BASF Group's sales markets represents one of the most important sources of risks. In addition to the baseline scenario, BASF Group also considers risk scenarios as, for example, a continuation or even intensification of the sovereign debt crises in Europe and the United States, which could dampen private demand and limit the ability of businesses to get refinancing. There could also be strong negative effects on consumer and industrial demand from extensive fiscal austerity measures in the form of tax increases and cuts to government spending. In these risk scenarios, a demand-driven decline in oil prices can be expected; the dollar/euro exchange rate could remain at a similar level to that in the baseline scenario as both the United States and Europe are exposed to similar debt-related risks. BASF Group is exposed to margin volatility due to fluctuating raw material prices and/or product oversupply/shortage. For some products and value chains there could be pressure on margins, which would have a negative effect on BASF Group's earnings. The average oil price (Brent crude) in 2012 was around USD 112 per barrel, slightly higher than in the previous year. For 2013, BASF anticipates an average oil price of USD 105 per barrel. Price levels of the raw materials and petrochemical basic products that are important to BASF Group's business are therefore expected to remain high. In the case of a considerable decline in demand, this can lead to significant narrowing of margins and the need to write down inventories. Changes in regulation and political risks could impact BASF Group's business and operating results. BASF Group must comply with a broad range of regulatory controls on the testing, manufacturing and marketing of many of its products. Due to the European chemicals regulation REACH, which came into force in 2007, BASF and its European customers face the risk of being placed at a disadvantage to their non-European competitors due to the cost-intensive test and registration procedures. In the third E.U. emissions trading period, which has begun in 2013, all CO2 certificates for industrial electricity generation will have to be purchased. Due to the auctioning of 100% of certificates for electricity generation, BASF Group faces the risk that the company will have an undersupply of certificates. Other risks for BASF Group include further regulation, for example, for the use of chemicals as well as the intensification of geopolitical tensions, the destabilization of political systems and the imposition of trade barriers (for example, Chinese restrictions on exports of rare earths or OPEC quotas for oil production), as well as the intensification of foreign exchange restrictions.
Page 1 and 2: Debt Issuance Program Prospectus Se
Page 3 and 4: 3 subject to tax law requirements o
Page 5 and 6: 5 Listing and Admission to Trading
Page 7 and 8: 7 Element Section B - [Issuer] [Gua
Page 9 and 10: 9 B.17 Credit ratings of the Issuer
Page 11 and 12: 11 B.19 Summary information about t
Page 13 and 14: 13 obligations of the Issuer, unles
Page 15 and 16: 15 debtor to BASF Finance, please s
Page 17 and 18: 17 GERMAN TRANSLATION OF THE SUMMAR
Page 19 and 20: 19 Cashflow aus betrieblicher Täti
Page 21 and 22: 21 B.2 Sitz / Rechtsform / geltende
Page 23 and 24: 23 C.5 Beschränkungen der freien
Page 25 and 26: 25 Fälligkeitstag einschließlich
Page 27: 27 D3 Zentrale Angaben zu den zentr
Page 31 and 32: 31 BASF is exposed to the risk of a
Page 33 and 34: 33 RISK FACTORS REGARDING BASF FINA
Page 35 and 36: 35 Holders' Representative If the N
Page 37 and 38: 37 GENERAL DESCRIPTION OF THE PROGR
Page 39 and 40: 39 Determination of Options / Compl
Page 41 and 42: 41 January 1, 2013 - June 30, 2013
Page 43 and 44: 43 received a 15-percent share in t
Page 45 and 46: 45 Share capital As of the date of
Page 47 and 48: 47 Income and expense items (millio
Page 49 and 50: 49 Name Main area of responsibility
Page 51 and 52: 51 Name Principal occupation Ralf S
Page 53 and 54: 53 January 1, 2013, the accounting
Page 55 and 56: 55 BASF Group's segments ORGANIZATI
Page 57 and 58: 57 business. Fixed costs exceeded t
Page 59 and 60: 59 gained an additional system hous
Page 61 and 62: 61 Despite significantly lower spec
Page 63 and 64: 63 of acquisitions, investments and
Page 65 and 66: 65 Europe from strong demand for co
Page 67 and 68: 67 associated with this, income fro
Page 69 and 70: 69 toward the further regulation of
Page 71 and 72: 71 RESPONSIBILITY ALONG THE VALUE C
Page 73 and 74: 73 personal suffering, equivalent t
Page 75 and 76: 75 BASF FINANCE EUROPE N.V. AS ISSU
Page 77 and 78: 77 BUSINESS OVERVIEW - PRINCIPAL AC
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79 represented by a Permanent Globa
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81 In the case of Notes issued by B
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83 coupons) In the case of 30/360,
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85 fixed for redemption. However, n
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87 [If Notes are subject to Early R
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89 (3) Agent of the Issuer. The Fis
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91 other form of combination with a
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97 conclusive evidence of the aggre
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99 In the case the offered quotatio
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101 In the case of Actual/365 (Fixe
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103 Change of Control the following
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105 withholding by the Issuer from
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107 (3) Notice. Any notice, includi
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109 Substitute Debtor.] In the case
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111 Federal Republic of Germany.] [
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113 OPTION I - Anleihebedingungen f
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115 ("Kanadische Unterverwahrer").
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117 Folgendes anwendbar Im Fall von
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119 Bei nicht auf EUR lautenden Sch
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121 internationalen Ansehens; Gilt
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123 die Schuldverschreibungen vorze
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125 übernehmen keinerlei Verpflich
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127 (e) ein Gericht ein Insolvenzve
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129 Im Fall von Schuldverschreibung
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131 werden. Im Fall von Schuldversc
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133 OPTION II - Anleihebedingungen
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137 Zinssatz für die betreffende Z
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139 Im Fall von Actual/365 (Fixed)
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141 eines Kontrollwechsels zu künd
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143 (3) Erfüllungsgehilfe(n) der E
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145 berechtigten Gläubiger(n) in A
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149 werden. Sofern diese Käufe dur
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151 GARANTIE der BASF SE, Ludwigsha
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153 Wir akzeptieren die Bestimmunge
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155 Indebtedness or any guarantees
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157 Part I.: TERMS AND CONDITIONS T
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159 INTEREST (§ 3) ZINSEN (§ 3)
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161 Final Redemption Rückzahlung b
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163 English and German (English co
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165 Resolutions, authorizations and
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167 Management/Underwriting Commiss
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[BASF Finance Europe N.V. (as Issue
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171 Each Holder may be represented
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173 TAXATION The following is a gen
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175 appointed, in Germany. Exceptio
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177 acquiring, holding or disposing
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179 Irish Withholding Tax Under Iri
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181 In conformity with the prerequi
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183 § 1.163-5(c)(2)(i)(D) (the "D
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185 resident of Japan except only p
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187 Documents on Display So long as
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189 Financial Report 2012 of BASF S
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191 AUDITORS TO THE ISSUERS For BAS
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