COMMERZBANK AKTIENGESELLSCHAFT

Important Notice about this Prospectus
The Prospectus should be read and construed with any amendment or supplement to the Prospectus
and with any other documents incorporated by reference and, in relation to any series of Notes (each
a "Series" or "Series of Notes") should be read and construed together with the relevant Final Terms
(as defined under "Description of the Notes – Introduction" below).
No person is or has been authorised by the Issuer to give any information or to make any
representation not contained in or not consistent with this Prospectus or any other information supplied
in connection with the Programme or the Notes and, if given or made, such information or
representation must not be relied upon as having been authorised by the Issuer.
Neither this Prospectus nor any other information supplied in connection with the Programme or the
Notes is intended to provide the basis of any credit or other evaluation and should not be considered
as a recommendation by the Issuer that any recipient of this Prospectus or any other information
supplied in connection with the Programme or the Notes should purchase any of the Notes. Each
investor contemplating purchasing Notes should make its own independent investigation of the
financial conditions and affairs, and its own appraisal of the creditworthiness of the Issuer. None of this
Prospectus, any other information supplied in connection with the Programme or the Notes constitutes
an offer or invitation by or on behalf of the Issuer to any person to subscribe for or to purchase any of
the Notes.
The delivery of this Prospectus does not at any time imply that the information contained herein
concerning the Issuer is correct at any time subsequent to the date hereof or that any other
information supplied in connection with the Programme or the Notes is correct as of any time
subsequent to the date indicated in the document containing the same.
The distribution of this Prospectus and the offer or sale of the Notes may be restricted by law in certain
jurisdictions. Persons into whose possession this Prospectus or any Notes come must inform
themselves about, and observe, any such restrictions. In particular, there are restrictions on the
distribution of this Prospectus and the offer or sale of the Notes in the United States, the United
Kingdom, the European Economic Area and Switzerland (see "Selling Restrictions" on page 222).
The Notes or securities, if any, to be delivered upon any redemption of the Notes have not been and
will not be registered under the U.S. Securities Act of 1933 (the "Securities Act") or with any
securities regulatory authority of any state or other jurisdiction of the United States and trading in the
Notes has not been approved by the U.S. Commodity Futures Trading Commission under the U.S.
Commodity Exchange Act. The Notes may be subject to U.S. tax law requirements. Subject to certain
exceptions, the Notes may not be offered, sold or delivered within the United States or to, or for the
account or benefit of, U.S. Persons (as defined in the U.S. Internal Revenue Code of 1986, as
amended, and regulations thereunder and Regulation S of the Securities Act).
The Issuer does not represent that this document may be lawfully distributed, or that the Notes may be
lawfully offered, in compliance with any applicable registration or other requirements in any jurisdiction,
or pursuant to an exemption available thereunder, or assume any responsibility for facilitating such
distribution or offering. In particular, no action has been taken by the Issuer which would permit a
public offering of the Notes or distribution of this document in any jurisdiction where action for that
purpose is required, other than in the jurisdictions, to which notification has been made pursuant to
Article 17 Directive 2003/71/EC, § 17 (1) German Securities Prospectus Act
(Wertpapierprospektgesetz) and the rules of the competent authority. Accordingly, the Notes may not
be offered or sold, directly or indirectly, and neither this Prospectus nor any advertisement or other
offering material may be distributed or published in any jurisdiction, except under circumstances which
are in compliance with any applicable laws and regulations.
This Prospectus may only be used for the purpose for which it has been published.
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