Company announcement no. 49, 2019 – Auctions of covered mortgage bonds in Nordea Kredit Realkreditaktieselskab.

In order to refinance “Kort rente” (CITA-based) and CIBOR-based loans as per 1 July 2019 Nordea Kredit will conduct two electronic auctions on 27 and 28 May 2019.

Nordea Kredit will refinance both the “Kort rente” (CITA based) and the CIBOR-based loans by issuing new covered mortgage bonds (SDRO). The refinancing auctions will be performed by Nordea Danmark, filial af Nordea Bank Abp.

Covered mortgage              DK0002044395 NDACITA6OA22RF
bonds                               

                                            DK0002044478 NDACIBOR6OA23RF

The auctions                       The auctions will take place at the Auction market for covered bonds at NASDAQ Copenhagen. The participant code for the offer is NOA.

                                            The NDACITA6OA22RF bond (ISIN-code DK0002044395) will be offered at 100.20. Bids should be made for the margin to be added to the reference interest rate at the recurring fixings of the coupon.

                                            The coupon as per 1 July 2019 is fixed in this way: 6 month CITA per 25 June 2019 multiplied by 365/360 plus the margin set at the auction. The interest rate is rounded to two decimals.

                                            The NDACIBOR6OA23RF bond (ISIN-code DK0002044478) will be offered at 100.20. Bids should be made for the margin to be added to the reference interest rate at the recurring fixings of the coupon.

                                            The coupon as per 1 July 2019 are fixed in this way: 6 month CIBOR per 25 June 2019 multiplied by 365/360 plus the margin set at the auction. The interest rate is rounded to two decimals.

                                            Investors should note that the margins set at the auctions on 27 and 28 May 2019 will apply for the full maturity of the bonds.

                                            The auctions will be conducted using the Dutch auction principle and the “hidden call” auction type. This means that all bids below the margin set at the auctions will be fully allocated. For bids at the margin set at the auctions, pro rata allocation may apply. All bids above the margin set at the auctions will not be allocated.

Auction dates                    The auctions will take place

DK0002044395 NDACITA6OA22RF on Monday 27 May 2019

DK0002044478 NDACIBOR6OA23RF on Tuesday 28 May 2019

Rating                                 The offered covered mortgage bonds are rated Aaa with Moody’s and AAA with Standard & Poor’s, respectively.

Auction volumes                DK0002044395 NDACITA6OA22RF DKK 14,0 bn

                                            DK0002044478 NDACIBOR6OA23RF DKK 14,0 bn

Additional terms                 Nordea Kredit is not obliged to sell the full published amounts at the auctions.

                                            Nordea Kredit may change the planned sales period including postponement or cancellation of the planned sale of bonds.

Bids/Allocation                  The auctions will open at 09.30 a.m. and close at 10.30 a.m. Accepted bids will be allocated at 10.39 a.m.      

Bids must be made for the margin on the reference interest rate and bids with up to two decimals will be accepted.

Settlement date                  1 July 2019.

                                            The outstanding amounts at VP Securities will be updated with the auction amounts on 24 May 2019.

Participants                         Anyone with access to the auction market for covered bonds at NASDAQ OMX may place a bid.

                                            In case of technical problems bids may be placed with Nordea Markets. Please contact Frank Klahsen at phone +45 33 33 14 44 and Brian Christophersen at phone +45 33 33 16 93.

If you have further questions please contact Nordea Long Term Funding, Peter Brag phone +45 33 33 16 63 and Lau Kingo phone +45 33 33 17 51.

Kind regards

Nordea Kredit Realkreditaktieselskab

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