26 Jan 2007

Amount:Eu500m hybrid capital
Issue/re-offer price:99.627
Coupon:6.5% until 9 February 2017; three month Euribor plus 325bp thereafter
Call option:at par from 9 February 2017
Spread at re-offer:225bp over mid-swaps; 246.9bp over the 3.75% January 2017 Bund
Launch date:Thursday 25 January
Payment date: 9 February
Joint books:Deutsche Bank, Dresdner Kleinwort, Erste Bank


Bookrunners' comment:

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