COMMERZBANK AKTIENGESELLSCHAFT

(ii) Shares or Share Baskets
If the Final Terms provide for payments under the Notes to be linked to a share or a share
basket, the Final Terms will specify the share or the share basket, as applicable, together with
the respective weightings of the constituent shares and the possibility of modifications, if any,
to the composition of the relevant share basket, the names of the share issuer(s), the relevant
ISIN of the share(s), as well as explain the mathematical relation between the payment
amount and the shares or the shares in the share basket, as applicable, and, if applicable, the
determination of the payment amount upon the occurrence of market disruption events (in
particular, but not limited to, a disruption generally affecting the operation of a stock exchange
or a disruption generally affecting the trading of a particular share) or of adjustment events
(including, but not limited to, a merger, consolidation, amalgamation, tender offers, takeover
offers, exchange offers, nationalisation, delisting or insolvency). The Determination Agent, in
accordance with the provisions of the Terms and Conditions, will determine the occurrence or
existence of a market disruption event. As a result of a potential adjustment event, the
Determination Agent may make certain adjustments to the Terms and Conditions in order to
take into account the occurrence of such an event. In such a case, the Final Terms will contain
a description of the linkage of the payment amount to the share or the share basket, as
applicable, the determination of the market disruption events and the potential adjustment
events, the possibilities of adjustment by the Determination Agent, the information provided by
the information source(s), in particular in relation to the historic performance and volatility of
the share(s), and a risk factors section specific to such Final Terms, if applicable (see "Risk
Factors – Additional Risk Factors Relating to Notes with underlying linkage"). The Final Terms
may also provide that the Issuer shall have a right to redeem the Notes early upon the
occurrence of certain events to be specified in relation to the Share(s), and may also specify
the payment amount applicable under such circumstances.
(iii) Indices or Index Baskets
If the Final Terms provide for redemption to be linked to an index or an index basket, the Final
Terms will specify the index or index basket, as applicable, together with the respective
weightings of the constituent indices and the possibility of modifications, if any, to the
composition of the relevant index basket, a description of the index (or, if the index is not
composed by the Issuer, the place where information relating to the index or indices can be
obtained, as well as explain the mathematical relation between the payment amount and the
index or the index basket, as applicable, and, if applicable, the determination of the payment
amount upon the occurrence of market disruption events (in particular, but not limited to, a
disruption in relation to an index, generally affecting the ability of market participants at a stock
exchange to trade in, or to obtain prices for, assets on which the index is based, futures or
options relating to an index or a disruption in relation to an index, generally affecting the
trading of assets on which the index is based, futures or options relating to an index) or, if
applicable, index adjustment events (including, but not limited to, replacement of the index
sponsor, material change of the method to calculate the index, failure to calculate the index or
permanent cancellation of the index). The Determination Agent, in accordance with the
provisions of the Terms and Conditions, will determine the occurrence or existence of a market
disruption event as of a relevant time. As a result of an index adjustment event, the
Determination Agent may make such adjustments to any amounts payable in respect of the
Notes and/or to other figures relevant to payments under the Notes as it deems appropriate. In
such a case, the Final Terms will contain a description of the linkage of the payment amount to
the index or index basket, as applicable, the determination of the market disruption events and
index adjustment events, the possibilities of adjustment by the Determination Agent, the
information provided by the information source(s), in particular in relation to the historic
performance and volatility of the index or index basket, and a risk factors section specific to
such Final Terms, if applicable (see "Risk Factors – Additional Risk Factors Relating to Notes
with underlying linkage"). The Final Terms may also provide that the Issuer shall have a right to
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