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HYPO TIROL BANK AG

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NotesInstalment NotesIndex Linked NotesDown Notes decrease over the years. The dates on which interest increasesor decreases, respectively, and the interest rates are predetermined. Thereare also combinations of Step-Up and Step-Down Notes, whereby thepredetermined interest rate may increase or decrease from one year toanother.Instalment Notes are Notes, where payment of principal is made ininstalments. Instalment will be made as the Issuer and the relevant Dealer(s)may agree (as indicated in the Final Terms).Index Linked Notes may be issued as Index Linked Interest Notes or IndexLinked Redemption Notes or a combination of both.Index Linked Interest NotesPayments of interest in respect of Index Linked Interest Notes will be made byreference to a single index or other factors (including changes in the price ofsecurities and commodities or movements in exchange rates) and/or suchformula as may be specified by the Issuer and the relevant Dealer(s) (asindicated in the Final Terms).Index Linked Redemption NotesPayments of principal in respect of Index Linked Redemption Notes will becalculated by reference to a single index or other factors (including changes inthe price of securities and commodities or movements in exchange rates)and/or such formula as may be specified by the Issuer and the relevantDealer(s) (as indicated in the Final Terms). Each principal amount of Notesequal to the specified denomination specified in the Final Terms will beredeemed by payment of the redemption amount specified in or asdetermined pursuant to provisions in the Final Terms.Each issue of Index Linked Notes will be made in compliance with allapplicable legal and regulatory requirements, including the provisions ofAustrian and German law regarding the indexation of debt obligations.Other provisions inrelation to Floating RateNotes and Index LinkedInterest NotesEquity Linked NotesFloating Rate Notes and Index Linked Interest Notes may also have amaximum interest rate, a minimum interest rate or both.Interest on Floating Rate Notes and Index Linked Interest Notes in respect ofeach Interest Period, as selected prior to issue by the Issuer and the relevantDealer(s), will be payable on such Interest Payment Dates specified in, ordetermined pursuant to, the Final Terms and will be calculated as specified inthe Final Terms.Equity Linked Notes may be issued in the form of Equity Linked Interest Notesor Equity Linked Redemption Notes or a combination of both. No EquityLinked Notes which are linked to shares of the Issuer or shares of any othercompany of the Group will be issued.Equity Linked Interest NotesPayments of interest in respect of Equity Linked Interest Notes will becalculated by reference to a single equity security or basket of equitysecurities on such terms as indicated in the Final Terms.Equity Linked Redemption NotesPayments of principal in respect of Equity Linked Redemption Notes will becalculated by reference to a single equity security or a basket of equitysecurities and/or a formula relating to one or more equity securities on suchterms as indicated in the Final Terms. Each principal amount of Notes equalto the specified denomination specified in the Final Terms will be redeemedby payment of the redemption amount specified in or as determined pursuantto the provisions of the Final Terms. Equity Linked Redemption Notes may8

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