COMMERZBANK AKTIENGESELLSCHAFT

Use of Proceeds
The net proceeds of each issue of Notes will be used for general corporate purposes.
Post Issuance Information
In the case of Notes where payment of interest and/or principal is linked to an underlying, the Issuer
will not provide any post issuance information regarding such underlying.
German Act on Notes
The Notes are subject to the provisions of the German Act on Notes (Gesetz über
Schuldverschreibungen aus Gesamtemissionen – SchVG). The terms and conditions of the Notes,
issued under this programme will not provide for majority resolutions by Noteholders pursuant §§ 5 et
seq. SchVG.
Additional Information on Credit Linkage
Reference Entity Credit Linkage
The Final Terms may provide that the payments under the Notes are affected by the occurrence of
Credit Linkage Events in relation to one or more Reference Entities. If the applicable Final Terms
provide for one specified Reference Entity only, payments under the Notes are linked to the
occurrence of a Credit Linkage Event in relation to such Reference Entity. If the applicable Final Terms
provide for more than one Reference Entity, payments under the Notes are linked:
• to the occurrence of a Credit Linkage Event or a specified number of Credit Linkage Events in
relation to the Reference Entities which are only taken into account after a certain threshold
has been reached (e.g. an amount, a credit default swap spread or a Credit Event with respect
to the Nth Reference Entity, as the case may be), or
• to the occurrence of an indefinite number of Credit Events in relation to the Reference Entities,
limited only to the number of Reference Entities, with each Credit Event affecting payments
under the Notes.
Credit Linkage of Interest Payments
The Final Terms may provide that in case of interest-bearing Notes, the credit linkage applies to the
interest payments to be made under the Notes. The Final Terms may provide that:
• the Notes will cease to bear interest, or
• the Notes will bear interest at an adjusted rate of interest, which means that the interest
payment that would be payable, had no Credit Linkage Event occurred, will be adjusted in
accordance with a formula reflecting the occurrence of the Credit Linkage Event.
In the case of more than one Reference Entity, the Final Terms may provide that each Credit Linkage
Event will affect the interest payments to be made or that a particular Credit Linkage Event out of
several such events will have such effect.
The Final Terms may provide that irrespective of a Credit Linkage Event, interest will be adjusted or
calculated in accordance with a certain formula depending on the Protection Value, as set out in the
Final Terms.
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