COMMERZBANK AKTIENGESELLSCHAFT

Credit-Linkage of
Principal Payment:
In the case of Derivative Notes only, the Final Terms may provide that the Credit
Linkage also applies to payments of capital to be made under the Notes, which means
that payment of capital will be adjusted (including in certain cases an up-ward
adjustment) in accordance with a formula reflecting the occurrence of the Credit
Linkage Event. In the case of one Reference Entity or Nth-to-Default, the Notes will be
redeemed early upon occurrence of one and/or the Credit Event relating to the Nth
Reference Entity and/or Trigger Event, as specified in the Final Terms. Irrespective of a
Credit Event, the redemption amount may be adjusted upon the occurrence of a Trigger
Event in accordance with a certain formula, as specified in the Final Terms. The
Derivative Notes may be redeemable, either in cash or by delivery of a given number of
the Deliverable Obligation(s) as specified in the relevant Final Terms.
Also the Final Terms may provide that the Notes shall automatically terminate and the
Issuer shall not owe any redemption payment upon the occurrence of a Credit Event if
the Adjusted Principal Amount has been reduced to zero for the first time.
Interest: The Final Terms can provide that the Notes are issued as interest bearing or noninterest
bearing Notes (including Zero Coupon Notes).
Fixed Rate Notes: Fixed rate interest will be payable on such basis as agreed between the Issuer and the
relevant dealer (as indicated in the applicable Terms and Conditions and the Final
Terms of each Series of Notes).
Floating Rate Notes: Floating Rate Notes will bear interest on such basis as may be agreed between the
Issuer and the relevant dealer (as set out in the applicable Terms and Conditions and
the Final Terms of each Series of Notes). The Margin, if any, relating to such floating
rate will be agreed between the Issuer and the relevant dealer for each Series of
Floating Rate Notes.
Other provisions in
relation to Floating
Rate Notes and
structured Notes:
Interest periods for Floating Rate Notes will be one, two, three, six or twelve months or
such other period(s) as may be agreed between the Issuer and the relevant dealer, as
set out in the applicable Terms and Conditions and the Final Terms of each Series of
Notes.
Floating Rate Notes and structured Notes may also have a maximum interest rate, a
minimum interest rate or both.
Interest on Floating Rate Notes and structured 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 Terms
and Conditions and the Final Terms and will be calculated as indicated in the applicable
Terms and Conditions and the Final Terms.
Dual Currency Notes: 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 indicated in the applicable Final Terms.
Non-Interest Bearing
Notes and Zero
Coupon Notes:
Non-interest bearing Notes and Zero Coupon Notes may be offered and sold with such
features as specified in the applicable Final Terms.
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