DIE ERSTE österreichische Spar-Casse ... - ERSTE Stiftung

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maximum interest rate, a minimum interest rate or both. All such information will be set out in the relevant Final Terms. Redemption Notes may be redeemable at par or at such other Redemption Amount (detailed in a formula or otherwise) as will be specified in the relevant Final Terms. Optional redemption The Final Terms issued in respect of each issue of Notes will state whether such Notes may be redeemed (either in whole or in part) prior to their stated maturity (if any) at the option of the Issuer and if so the terms applicable to such redemption. Investors should note that where the Terms and Conditions of the Notes provide for a right of early redemption by the Issuer only, Noteholders usually receive a higher yield on their Notes than they would if they were also granted a right to early redeem the Notes. The Noteholders are not entitled to redeem the Notes prior to their maturity. Excluding the Noteholders' right to redeem Notes prior to their maturity is often a precondition for the Issuer being able to hedge its exposure under the Notes. Thus, without early redemption by Noteholders being excluded, the Issuer would not be able to issue Notes at all, or the Issuer would factor the potential hedging break costs into the redemption amount of the Notes, thus reducing the yield investors receive from the Notes. Investors should therefore carefully consider whether they think that a right of early redemption only for the Issuer would be to their detriment, and should, if they think that this is the case, not invest in the Notes. Withholding tax All payments of principal and interest in respect of the Notes will be made after withholding or deduction for, any taxes, duties, assessments or governmental charges of whatever nature imposed, levied, collected, withheld or assessed by the Republic of Austria or any political subdivision or any authority of or in the Republic of Austria that has power to tax. Governing law The Notes will be governed by Austrian law excluding its conflict of laws rules. Place of jurisdiction For all disputes which may arise out or in connection with the Notes, the commercial court competent for Vienna, Inner City, shall have Page 32
exclusive jurisdiction. Consumers within the meaning of the Austrian Consumer Protection Act may take proceedings in any other court of competent jurisdiction. Use of proceeds The net proceeds from the issue of Notes will be used by <strong>ERSTE</strong> Foundation for its general funding and refinancing purposes and to achieve its foundation aims. Selling restrictions The Notes have not been and will not be registered under the Securities Act nor by any authority of a State in the U.S. or according to the applicable securities regulations in Australia, Canada, Japan or United Kingdom and may not be offered, sold or delivered within the U.S. or, for the account and benefit of U.S. persons or any other persons in Australia, Canada, Japan or United Kingdom. Page 33
Page 1 and 2: DIE ERSTE österreichische Spar-Cas
Page 3 and 4: In this Prospectus, unless otherwis
Page 5 and 6: SELLING RESTRICTIONS ..............
Page 7 and 8: DOCUMENTS INCORPORATED BY REFERENCE
Page 9 and 10: SUMMARY OF THE PROGRAMME This summa
Page 11 and 12: Credit Risk Credit risk is the risk
Page 13 and 14: Business of ERSTE Foundation DIE ER
Page 15 and 16: Risk Factors arising from Erste Gro
Page 17 and 18: RISK FACTORS Prospective investors
Page 19 and 20: implementation of the Issuer's stra
Page 21 and 22: Interest rate fluctuations may adve
Page 23 and 24: of the Notes. A downgrading of the
Page 25 and 26: Noteholders are exposed to the risk
Page 27 and 28: Holders of Fixed Rate Notes are exp
Page 29 and 30: Investors have to rely on the funct
Page 31: epresented by a global note in bear
Page 35 and 36: Terms and Conditions [Title of Note
Page 37 and 38: [insert definition of EURIBOR and E
Page 39 and 40: [in the case of "Actual/365" or "Ac
Page 41 and 42: § 9 Taxation All payments of princ
Page 43 and 44: [In case of early redemption on the
Page 45 and 46: 17. 18. (iii) Partial Redemption: (
Page 47 and 48: General DIE ERSTE ÖSTERREICHISCHE
Page 49 and 50: VolkswagenStiftung 2,457,544,000 (M
Page 51 and 52: The development objective of ERSTE
Page 53 and 54: financial services by other banks d
Page 55 and 56: In the case that funds will be requ
Page 57 and 58: ("AGM") not to pay a dividend for t
Page 59 and 60: Member Boris Marte Other positions:
Page 61 and 62: Member Maximilian Hardegg Privatsti
Page 63 and 64: Sparkassen AG, with the procedure i
Page 65 and 66: The foundation’s auditor is the a
Page 67 and 68: Other assets 7.132 6.898 Subscribed
Page 69 and 70: Revenue reserves 197,597 203,784 -3
Page 71 and 72: The English translation of the repo
Page 73 and 74: MATERIAL CONTRACTS Since 31 Decembe
Page 75 and 76: the taxation of financial instrumen
Page 77 and 78: Private foundations pursuant to the
Page 79 and 80: CZECH REPUBLIC General Czech tax im
Page 81 and 82: interest paid (with the exception o
Page 83 and 84:
LUXEMBOURG The following summary is
Page 85 and 86:
Luxembourg income tax on interest a
Page 87 and 88:
Capital gains Income from the sale
Page 89 and 90:
OFFER AND SUBSCRIPTION The Programm
Page 91 and 92:
SELLING RESTRICTIONS This Prospectu
Page 93 and 94:
(ii) the published annual report an
Page 95 and 96:
LIBOR means the London Inter-bank O
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DIE ERSTE österreichische Spar-Casse ... - ERSTE Stiftung

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