Österreichische Volksbanken-Aktiengesellschaft ... - Volksbank AG

(6) Early Redemption Amount shall mean the amount determined by the Issuer (or by the
Calculation Agent in its name) in its reasonable discretion as an appropriate market price
for the Certificates (as far as not determined otherwise in item 19(iii) of the Final Terms),
commercially rounded to two figures following the decimal point, as the case may be.
(7) Termination of Turbo-Certificates. In the case of Turbo-Certificates (see item 4 of the
Final Terms) the following special rules shall apply: As soon as the Underlying reaches
or falls short of (in case of Long-Turbo-Certificates according to the Term Sheet), or (in
case of Short-Turbo-Certificates according to the Term Sheet) exceeds the barrier according
to the Term Sheet and the Final Terms (see item 14(v)) at any time within the
term of the Certificates, the Turbo-Certificates shall be terminated. In such a case, the
Turbo-Certificates shall be suspended from trading until the Issuer (or the Calculation
Agent in the name of the Issuer) has determined the Final Value (as defined below) of the
Turbo-Certificates and redeems the Turbo-Certificates.
Within a maximum of three hours trading time (the Determination Period), the Issuer (or
the Calculation Agent in the name of the Issuer) shall determine the Final Value of the
Turbo-Certificates resulting from the close-out of a hedging transaction concluded by the
Issuer, taking into account all costs incurred in this connection and the Subscription Rate
(see item 14(xii) of the Final Terms) (the Final Value). The Final Value may amount to
zero in certain market conditions.
In the case of termination of the Turbo-Certificates, the determination of the Final Value
is effected by the Issuer (or the Calculation Agent in the name of the Issuer). The Issuer
will pay the Final Value to the holders of Turbo-Certificates five Business Days thereafter.
The performance of the Underlying after the termination within the Determination Period
will be relevant for the amount of the Final Value. The Issuer (or the Calculation Agent in
the name of the Issuer) may fix the time of determination of the Final Value within the
Determination Period in its own discretion according to prevailing market conditions.
(8) Repurchase. The Issuer has the right to repurchase Certificates in the market or otherwise
at each and every price. The Certificates purchased by the Issuer may be held, resold
or cancelled by the Issuer in its own discretion.
§ 11
(Payments. Costs)
(1) Payments. Payment on the Certificates shall be made, subject to applicable fiscal and
other laws and regulations, via the Paying Agent(s) to the Clearing Systems or to their order
for credit to the relevant entity managing the account of the Certificate Holders. The
Issuer shall be discharged from its payment obligation vis-à-vis the Certificate Holders by
payment to, or to the order of, the Paying Agent(s) in the amount of payment effected. A
payment on the Certificates is considered to be in time if it arrives on the due date of the
respective payment on the accounts of the Paying Agent(s).
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