Euro 25,000,000,000 Debt Issuance Programme - Münchener ...

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This Prospectus and all documents incorporated herein by reference will be published in electronic form on the website of the Luxembourg Stock Exchange (www.bourse.lu). This Prospectus replaces the Debt Issuance Programme Prospectus dated 30 August 2005. It is valid for a period of 12 month from its date of publication date. 2
RESPONSIBILITY STATEMENT Münchener Hypothekenbank eG (“MünchenerHyp”, the “Bank” or the “Issuer”) with its registered office in Munich is solely responsible for the information given in this Prospectus. The Issuer hereby declares that, having taken all reasonable care to ensure that such is the case, the information contained in this Prospectus is, to the best of its knowledge, in accordance with the facts and contains no omission likely to affect its import. NOTICE This Prospectus should be read and understood in conjunction with any supplement thereto and with any other document incorporated herein by reference. Full information on MünchenerHyp and any tranche of Notes is only available on the basis of the combination of the Prospectus and the relevant final terms (the “Final Terms”). The Issuer accepts responsibility for the information contained in this Prospectus and has confirmed to the dealers set forth on the cover page (each a “Dealer” and together the “Dealers”) that this Prospectus contains all information with regard to MünchenerHyp and the Notes which is material in the context of the Programme and the issue and offering of Notes thereunder, that the information contained in the Prospectus with respect to MünchenerHyp and the Notes is accurate in all material respects and is not misleading, that the opinions and intentions expressed herein with respect to MünchenerHyp and the Notes are honestly held, that there are no other facts with respect to MünchenerHyp or the Notes the omission of which would make this Prospectus as a whole or any of such information or the expression of any such opinions or intentions misleading and that MünchenerHyp has made all reasonable enquiries to ascertain all facts material for the purposes aforesaid. The Issuer has undertaken with the Dealers to publish a supplement to this Prospectus or publish a new Prospectus if and when the information herein should become materially inaccurate or incomplete or in the event of any significant new factor, material mistake or inaccuracy relating to the information included in this Prospectus which is capable of affecting the assessment of the Notes and where approval by the CSSF of any such document is required, upon such approval having been given. No person has been authorised to give any information which is not contained in, or not consistent with, this Prospectus or any other document entered into or any information supplied by the Issuer in connection with the Programme or any information in the public domain and, if given or made, such information must not be relied upon as having been authorised by the Issuer, the Dealers or any of them. To the extent permitted by the laws of any relevant jurisdiction, neither the Arranger nor any Dealer nor any other person mentioned in this Prospectus, excluding the Issuer, is responsible for the information contained in this Prospectus or any supplement thereto, or any Final Terms or any other document incorporated herein by reference, and accordingly, and to the extent permitted by the laws of any relevant jurisdiction, none of these persons accepts any responsibility for the accuracy and completeness of the information contained in any of these documents. This Prospectus is valid for 12 months following the publication date and this Prospectus and any supplement hereto as well as any Final Terms reflect the status as of their respective dates of issue. The delivery of this Prospectus or any Final Terms and the offering, sale or delivery of any Notes may not be taken as an implication that the information contained in such documents is accurate and complete subsequent to their respective dates of issue or that there has been no adverse change in the financial situation of the Issuer since such date or that any other information supplied in connection with the Programme is accurate at any time subsequent to the date on which it is supplied or, if different, the date indicated in the document containing the same. The distribution of this Prospectus and any Final Terms and the offering, sale and delivery of Notes in certain jurisdictions may be restricted by law. Persons into whose possession the Prospectus or any Final Terms come are required to inform themselves about and to observe any such restrictions. For a description of restrictions applicable in the Member States of the European Economic Area in general, the United States of America, Japan, and the United Kingdom, see “Selling Restrictions”. In particular, the Notes have not been and will not be registered under the United States Securities Act of 1933, as amended, and are subject to U.S. tax law requirements. Subject to certain exceptions, Notes may not be offered, sold or delivered within the United States of America or to U.S. persons. The language of the Prospectus is English. Any part of this Prospectus in the German language 3
Page 1: This document constitutes two base
Page 5 and 6: TABLE OF CONTENTS General Descripti
Page 7 and 8: I. General GENERAL DESCRIPTION OF T
Page 9 and 10: - all instructions and explanatory
Page 11 and 12: Risk Factors regarding the Notes No
Page 13 and 14: Summary regarding MünchenerHyp Leg
Page 15 and 16: Major members Approximately 35.0 pe
Page 17 and 18: Statutory Auditors, Auditing of His
Page 19 and 20: Interest periods for Floating Rate
Page 21 and 22: equired from time to time by the re
Page 23 and 24: Operationelles Risiko Unter Operati
Page 25 and 26: Zusammenfassung in Bezug auf die M
Page 27 and 28: Bedeutende Anteilseigner Cirka 35,0
Page 29 and 30: Gerichts- und Schiedsverfahren Die
Page 31 and 32: - der dem variablen Zinssatz einer
Page 33 and 34: Referenzsatz innerhalb einer festge
Page 35 and 36: Risk Factors regarding MünchenerHy
Page 37 and 38: fair market prices. The possibility
Page 39 and 40: Daily Range Accrual Notes Daily Ran
Page 41 and 42: Direct Business Direct business in
Page 43 and 44: Michael Glos Deputy Chairman of the
Page 45 and 46: MünchenerHyp does not produce cons
Page 47 and 48: Prospects Business Development Comp
Page 49 and 50: Supplemental Information Cash flow
Page 51 and 52: Our responsibility is to express an
Page 53 and 54:
PART I - BASIC TERMS A. TERMS AND C
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(3) Calculation of Interest for Par
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[in the case of [include relevant n
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[if 30/360, 360/360 or Bond Basis i
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[ ] [ ] [lf Notes are subject to Ea
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The Issuer shall at all times maint
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then on be deemed to refer to the c
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B. TERMS AND CONDITIONS OF PFANDBRI
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(2) Accrual of Interest. The Pfandb
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displayed [if Margin insert: [plus]
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[if Actual/Actual insert: [(ICMA Ru
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§ 6 FISCAL AGENT [,] [AND] PAYiNG
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on the fourth [TARGET] [London] [in
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(5) Holder of Pfandbriefe. “Holde
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[(5)] Payment Business Day. If the
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on the fourth [TARGET] [London] [in
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(b) Determination of Floating Rate
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Amounts paid on the Interest Paymen
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B.Inflation-related [Notes][Pfandbr
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order to correct a manifest error (
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C. Now or Later [Notes] [Pfandbrief
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(5) Accrual of Interest. The [Notes
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of [11:00 a.m.] [insert other relev
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[If Actual/Actual insert: [(ICMA Ru
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● per cent. per annum, if the [of
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(6) Accrual of Interest. The [Notes
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cent.] [[plus] [minus] ● per cent
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maturity until the expiry of the da
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Emissionsbedingungen gestrichen; s
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[Falls die Globalurkunde eine NGN i
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[(i)][im Fall von variabel verzinsl
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kann, ist der Zinssatz der [10-][an
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Die Zahlung von Zinsen auf Schuldve
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(ii) eine Erklärung, ob diese Seri
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Die Emissionsstelle [[,] [und] die
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verpflichtet zu sein, jeweils in de
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[Falls die Emissionsbedingungen in
Page 127 and 128:
Page 129 and 130:
der Angebotssatz (ausgedrückt als
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die [10-][andere Zahl von Jahren ei
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Währung, die am entsprechenden Fä
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D-60272 Frankfurt am Main]] [Münch
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die Depotbank gegenüber dem Cleari
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(2) Zahlungsweise. Vorbehaltlich ge
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[andere Zeitungen mit allgemeiner V
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TEIL II - ZUSÄTZE ZU DEN GRUNDBEDI
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Prozent, wobei 0,000005] aufgerunde
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[Falls Actual/Actual (ISDA) gilt, e
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„Index(i)“ ist der „tägliche
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is zum Ablauf des Tages, der dem Ta
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Angebotssätze [im Fall einer Marge
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D. Daily Range Accrual - [Schuldver
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Marge als für die unmittelbar vorh
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E. Basis-plus - [Schuldverschreibun
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Referenzbanken der Berechnungsstell
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F. Basis-plus Korridor - [Schuldver
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Einlagen in der festgelegten Währu
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In case of Notes listed on the offi
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Terms used herein shall be deemed t
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Sonstige (angeben) STATUS (§ 2) ST
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Margin Marge � ��plus plus
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Verzinsungsbeginn Rate of Interest
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(set forth details in full here (in
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Amortisationsrendite FISCAL AGENT [
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ISIN Code [ ] ISIN Code German Secu
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[insert details here] [Einzelheiten
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[not applicable] [specify details]
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E. ADMISSION TO TRADING AND DEALING
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Yield on issue price 1 [ ] Emission
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Rating 1 Rating Listing and Admissi
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Capital gains derived by German-res
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(including accrued but unpaid inter
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1. General SELLING RESTRICTIONS Eac
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(ii) at any time to legal entities
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In this summary, banks authorized t
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administration of the assets includ
Page 207 and 208:
Availability of Documents Copies of
Page 209:
Fiscal Agent, Principal Paying Agen
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Euro 25,000,000,000 Debt Issuance Programme - Münchener ...

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