MARFIN EGNATIA BANK S.A. - Irish Stock Exchange

RISK FACTORS
The Issuer believes that the factors described below represent the principal risks inherent in investing in
Covered Bonds issued under the Programme, but the inability of the Issuer to pay interest, principal or
other amounts on or in connection with any Covered Bonds may occur for other reasons and the Issuer
does not represent that the statements below regarding the risks of holding any Covered Bonds are
exhaustive. Prospective investors should also read the detailed information set out elsewhere in this Base
Prospectus and reach their own views prior to making any investment decision.
Factors relating to the Covered Bonds
The Covered Bonds may not be a suitable investment for all investors
Each potential investor in the Covered Bonds must determine the suitability of that investment in light of
its own circumstances. In particular, each potential investor should:
(i)
(ii)
(iii)
(iv)
(v)
have sufficient knowledge and experience to make a meaningful evaluation of the Covered
Bonds, the merits and risks of investing in the Covered Bonds and the information contained or
incorporated by reference in this Base Prospectus and any applicable supplement and/or Final
Terms;
have access to, and knowledge of, appropriate analytical tools to evaluate, in the context of its
particular financial situation, an investment in the Covered Bonds and the impact the Covered
Bonds will have on its overall investment portfolio;
have sufficient financial resources and liquidity to bear all of the risks of an investment in the
Covered Bonds, including Covered Bonds with principal or interest payable in one or more
currencies, or where the currency for principal or interest payments is different from the potential
investor's currency;
understand thoroughly the terms of the Covered Bonds and be familiar with the behaviour of any
relevant indices and financial markets; and
be able to evaluate possible scenarios for economic, interest rate and other factors that may affect
its investment and its ability to bear the applicable risks.
The Covered Bonds are complex financial instruments. Sophisticated institutional investors generally do
not purchase complex financial instruments as stand alone investments. They purchase complex financial
instruments as a way to reduce risk or enhance yield with an understood, measured, appropriate addition
of risk to their overall portfolios. A potential investor should not invest in Covered Bonds which are
complex financial instruments unless it has the expertise to evaluate how the Covered Bonds will perform
under changing conditions, the resulting effects on the value of the Covered Bonds and the impact this
investment will have on the potential investor's overall investment portfolio.
The Covered Bonds will be obligations of the Issuer only
The Covered Bonds will be solely obligations of the Issuer and will not be obligations of or guaranteed by
the other Transaction Parties. No liability whatsoever in respect of any failure by the Issuer to pay any
amount due under the Covered Bonds shall be accepted by any of the Transaction Parties, any company
in the same group of companies as such entities or any other party to the transaction documents relating to
the Programme.
Extendable maturity of the Covered Bonds
The applicable Final Terms may provide that the Issuer's obligation to pay principal under the relevant
Covered Bonds may be deferred past the Final Maturity Date until the Extended Final Maturity Date (as
specified in the Final Terms). In such case, such deferral will occur automatically if the Issuer fails to pay
the Final Redemption Amount in respect of the relevant Series of Covered Bonds on their Final Maturity
Date. Any amount representing the Final Redemption Amount due and remaining unpaid on the Final
Maturity Date may be paid by the Issuer on any Interest Payment Date thereafter up to (and including) the
relevant Extended Final Maturity Date. Interest will continue to accrue and be payable on any unpaid
amounts on each Interest Payment Date up to the Extended Final Maturity Date in accordance with the
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