Borealis AG Public Offering of up to EUR 200000000 Senior Fixed ...

Notes and interest coupons are excluded.
The Global Note will be deposited with Oesterreichische
Kontrollbank Aktiengesellschaft as central securities
depositary (the "Central Securities Depositary") until all
obligations of the Issuer under the Notes have been
satisfied.
The holders of Notes will receive co-ownership
participations or rights in the Global Note that are
transferable in accordance with the general business
conditions of the Central Securities Depositary and outside
of the Republic of Austria in accordance with the provisions
of Clearstream Banking, société anonyme, Luxemburg
("CBL") and/or Euroclear Bank S.A./N.V., Brussels,
Belgium ("Euroclear") (CBL and Euroclear together the
"Clearing System").
Status of the Notes The Notes constitute direct, unconditional, unsubordinated
and (subject to the provisions of § 3 of the Terms and
Conditions) unsecured obligations of the Issuer and rank
pari passu without any preference among themselves and
at least pari passu with all other unsubordinated and
unsecured obligations of the Issuer, present or future, save
for obligations which are preferred by applicable
mandatory law.
Interest Each Note shall bear interest on its then outstanding
nominal amount at the Interest Rate as from (and
including) the Issue Date. Interest is payable annually in
arrear on 2 July of each year (each an "Interest Payment
Date") commencing on 2 July 2013. The interest rate (the
"Interest Rate") is currently not fixed and will be
determined in the course of a book-building procedure on
or around 20 and 21 June 2012.The Interest Rate will be
published prior to the beginning of the Subscription Period.
Redemption The Notes will be redeemed at their Nominal Amount on
2 July 2019 (the "Redemption Date") to the extent they
have not previously been redeemed or purchased and
cancelled partially or fully.
Issuer Call Right and Early
Redemption due to a Tax
Event.
If as a result of a change of, or a supplement to, the tax
laws applicable by or in the Republic of Austria or a change
in, or supplement to, their official interpretation, the Issuer
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