COMMERZBANK AKTIENGESELLSCHAFT

General Description of the Programme
Issuer: Commerzbank Aktiengesellschaft
Determination Agent: Commerzbank Aktiengesellschaft
Paying Agents: Commerzbank Aktiengesellschaft, Frankfurt am Main, shall be Principal Paying Agent.
The Issuer is entitled to appoint other banks of international standing as Principal
Paying Agent or additional Paying Agents.
Regulatory Matters: Any issue of Notes denominated in a currency in respect of which particular laws,
regulations, guidelines, policies and central bank requirements apply will only be issued
in circumstances which comply with such laws, regulations, guidelines, policies and
central bank requirements from time to time.
Type of Notes The Notes are linked to one or more Reference Entities and therefore subject to the
occurrence of one or more Credit Events and may be also subject to Trigger Events
related to those Reference Entities. In addition to such Credit Linkage, the Notes may
be linked to Reference Underlyings, e.g. the amounts payable under the Notes are
linked to the performance of certain underlyings (such as shares, share baskets,
currencies, currency baskets, interest rates, interest rate structures, indices and index
baskets). The Credit-Linkage and/or the linkage to Reference Underlyings can be
limited to the payment of interest (“Principal Protected Notes”) or such Credit Linkage or
linkage to Reference Underlyings may also apply to the payment of principal
(“Derivative Notes”). The relevant Final Terms may provide that the Derivative Notes
are redeemable in cash or by delivery of a given number of the Deliverable
Obligation(s).
Currencies: Subject to any applicable legal or regulatory restrictions, and requirements of relevant
central banks, Notes may be issued in Euro or such other freely transferable currencies
or currency units (each an "Alternative Currency") as may be specified in the Final
Terms.
Amount: Up to € 5,000,000,000 (or its equivalent in an Alternative Currency) outstanding at any
one time.
Listing: Application will be made to list the Notes to be issued under the Programme on the
regulated market (regulierter Markt) of the Stuttgart Stock Exchange (Baden-
Württembergische Wertpapierbörse). Notes may also be listed on any other stock
exchange (an "Alternative Stock Exchange") or may be unlisted as specified in the
relevant Final Terms.
Selling Restrictions: There are restrictions on the sale of Notes and the distribution of offering material – see
"Selling Restrictions" on page 222.
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