Österreichische Volksbanken-Aktiengesellschaft ... - Volksbank AG

(4) Representation. The Warrants are represented in a permanent global note (the Permanent
Global Note). Each Permanent Global Note shall bear the manual or facsimile signatures
of two duly authorised officers of the Issuer or its representative. Definitive notes
will not be issued.
(5) Custody. Each Temporary Global Note will, depending on the Final Terms (item 31)
either be deposited with the Issuer (deposit with Issuer, item 31) or with or in the name of
a clearing-system until all obligations of the Issuer under the Warrants are discharged.
Clearing-System means the clearing-system(s) determined in the Final Terms (item 31)
and each successor in this function.
§ 2
(Status)
The Warrants constitute direct, unconditional, unsecured and unsubordinated obligations of the
Issuer and rank pari passu among themselves.
§ 3
(Interest)
If not determined otherwise in the Final Terms (item 13), no interest shall be payable on the
Warrants. In such case, only the Redemption Amount according to § 5 shall be payable.
§ 4
(Term. Exercise date. Exercise style.)
(1) Term. The issue and term of the Warrants commences on the start date (pursuant to the
Term Sheet and item 6 of the Final Terms) (the Start Date) and ends at 10:00 hours, Vienna
local time, on the expiry date (pursuant to the Term Sheet and item 6 of the Final
Terms) (the Expiry Date).
(2) American style Warrants. If the exercise style of the Warrants is specified as "American
Style" in the Term Sheet and in the Final Terms (item 7), the option right pursuant to § 5
may be validly exercised at all times during the term of the Warrants on any Business
Day during normal business hours (the Exercise Date).
(3) European style warrants. If the exercise style of the Warrants is specified as "European
Style" in the Term Sheet and in the Final Terms (item 7), the option right according to § 5
may be validly exercised on the last day of the term of the Warrants during normal business
hours (the Exercise Date).
(4) Other exercise styles. Other exercise styles may be specified in the Term Sheet and in
the Final Terms (item 7).
(5) Expiry of the option right. After 10.00 hours, Vienna local time on the Expiry Date, all
options rights which have not been validly exercised shall cease and the Warrants become
invalid.
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