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

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FORWARD-LOOKING STATEMENTS This Prospectus contains statements under the captions "Prospectus Summary", "Risk Factors" and elsewhere that are, or may be deemed to be, "forward-looking statements". In some cases, these forward-looking statements can be identified by the use of forward-looking terminology, including the words "believes", "estimates", "anticipates", "expects", "intends", "targets", "may", "will", "plans", "continue" or "should" or, in each case, their negative or other variations or comparable terminology or by discussions of strategies, plans, objectives, goals, future events or intentions. The forward-looking statements contained in this Prospectus include certain targets. These targets reflect goals that Issuer is aiming to achieve and do not constitute forecasts. The forward-looking statements contained in this Prospectus include all matters that are not historical facts and include statements regarding the Issuers' intentions, beliefs or current expectations concerning, among other things, the results of operations, financial condition, liquidity, prospects, growth, strategies and dividend policy and the industries and markets in which the Issuer operates. By their nature, forward-looking statements involve known and unknown risks and uncertainties because they relate to events, and depend on circumstances, that may or may not occur in the future. Forward-looking statements are not guarantees of future performance. Prospective investors should not place undue reliance on these forward-looking statements. Many factors could cause the actual results, performance or achievements of the Issuer to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. Some of these factors are discussed in more detail under "Risk Factors" and elsewhere. Should one or more of these risks or uncertainties occur, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this Prospectus as anticipated, believed, estimated or expected. The Issuer does not intend, and does not assume any obligation, to update forward-looking statements set forth in this Prospectus after the end of the offer. Page 6
DOCUMENTS INCORPORATED BY REFERENCE This Prospectus should be read and construed in conjunction with each final terms relating to any notes that are offered under the Programme at the time of this Prospectus which have been previously filed with the CSSF, and with the following sections of the following documents, which have been previously published or will be published at the same time as this Prospectus and which are incorporated into this Prospectus by reference, forming an integral part of it: Document/Heading Page reference in the relevant document The prospectus dated 6 December 2010 related to the Programme of the Issuer Terms and Conditions Form of Final Terms English translation of the Audited Financial Statements of the Issuer for the financial year ended 31 December 2009 Profit and Loss Account Balance Sheet Foundation Net Assets (<strong>Stiftung</strong>svermögen) Notes to the Financial Statements Auditors' Report English translation of the Audited Financial Statements of the Issuer for the financial year ended 31 December 2010 Profit and Loss Account Balance Sheet Foundation Net Assets (<strong>Stiftung</strong>svermögen) Notes to the Financial Statements Auditors' Report English translation of the Unaudited Interim Financial Statements of the Issuer for the third quarter year ended 30 September 2011 Profit and Loss Account Balance Sheet Selected Notes to the Financial Statements 34 - 42 43 - 47 6 - 7 3 - 5 11 8 - 14 15 - 16 6 - 7 3 - 5 12 8 - 15 16 - 17 For the avoidance of doubt, such parts of the English translations of the annual report of the Issuer for the financial years 2009 and 2010 respectively, as well as the English translation of the interim report for the third quarter year in 2011 which are not explicitly listed in the table above, are not incorporated by reference into this Prospectus. The non-incorporated parts of 4 1 6 Page 7
Page 1 and 2: DIE ERSTE österreichische Spar-Cas
Page 3 and 4: In this Prospectus, unless otherwis
Page 5: SELLING RESTRICTIONS ..............
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 and 32: epresented by a global note in bear
Page 33 and 34: exclusive jurisdiction. Consumers w
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
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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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