Österreichische Volksbanken-Aktiengesellschaft ... - Volksbank AG

Subordinated Capital Notes shall have a minimum term of five years. If the term is not
determined or if the Noteholders have a right according to these Conditions (and the respective
Final Terms) to redeem the Subordinated Capital Notes early or if the Subordinated
Capital Notes are to be repaid upon decision of the Noteholders, a minimum notice
term of five years shall be provided for. A redemption or repayment of Subordinated
Capital Notes upon decision of the Issuer shall be possible (i) after a minimum term of
five years after the issue of the Subordinated Capital Notes without a notice period, and
(ii) in the case of § 4 para 4 at any time without a notice period, provided that the Issuer
has before made available capital in the same amount and at least equal own funds quality.
Set-off of the claim for payment of the redemption amount with claims of the Issuer is
not permissible.
Short Term Subordinated Capital Notes shall have a minimum term of at least two years.
If no term is determined or if the Noteholders have the right according to these Conditions
(and the respective Final Terms) to redeem the Short Term Subordinated Capital
Notes or if the Short Term Subordinated Capital Notes are to be repaid upon decision of
the Noteholders, a minimum notice period of two years shall be provided for. A redemption
or repayment of the Short Term Subordinated Capital Notes upon decision of the Issuer
shall be possible (i) after a minimum term of two years after the issue of the Short
Term Subordinated Capital Notes without notice period, and (ii) in the case of § 4 para 4
at any time without a notice period, provided that the Issuer has before made available
capital in the same amount and at least equal own funds quality.
(9) Definitions:
Optional Redemption Amount means the Specified Denomination of the Notes (unless
defined otherwise in items 30(ii) or 31(ii) of the Final Terms), or in the case of zero coupon
Notes the Amortised Face Amount (as defined below). The Final Terms may alternatively
foresee eg a redemption pursuant to a redemption table. In the case of Notes which
represent Supplementary Capital or Subordinated Supplementary Capital, the net losses
accrued during the term of the Notes will be deducted from the Redemption Amount prior
to liquidation of the Issuer. "Net loss" shall be interpreted in accordance with sec 23 para
7 of the Austrian Banking Act.
Early Redemption Amount means the Specified Denomination of the Notes (unless defined
otherwise in item 34 of the Final Terms), or in the case of zero coupon Notes the
Amortised Face Amount (defined below), in each case plus interest accrued. The Final
Terms may alternatively foresee eg a redemption pursuant to a redemption table. In the
case of Notes which represent Supplementary Capital or Subordinated Supplementary
Capital, the net losses accrued during the term of the Notes will be deducted from the Redemption
Amount prior to liquidation of the Issuer. "Net loss" shall be interpreted in accordance
with sec 23 para 7 of the Austrian Banking Act.
Amortised Face Amount means (unless defined otherwise in item 34 of the Final Terms)
the Redemption Amount of the Notes foreseen on the Maturity Date discounted at a rate
per annum (expressed as a percentage) equal to such rate as would produce an Amortised
Face Amount equal to the issue price of the Notes if they were discounted back to their
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