Common use of Redemption at the Option of the Issuer Clause in Contracts

Redemption at the Option of the Issuer. If Issuer Call is specified in the applicable Final Terms, the Issuer may, at any time (if this Note is not a Floating Rate Note) or only on any Interest Payment Date (if this Note is a Floating Rate Note) at its option, on giving not less than 30 nor more than 60 days’ notice to the holders of Notes of this Series (which notice shall be irrevocable and shall specify the date fixed for redemption) in accordance with Condition 11, redeem all or some only of the Notes of this Series then outstanding on any Optional Redemption Date (subject as provided above) specified prior to the stated maturity of such Notes and at the Optional Redemption Amount specified in the applicable Final Terms. In the event of a redemption of some only of such Notes, such redemption must be for an amount being not less than EUR1,000,000 in nominal amount or a higher integral multiple of EUR1,000,000 (or their respective equivalents in other Specified Currencies as determined by the Issuer). In the case of a partial redemption of such Notes in definitive form, Notes to be redeemed will be selected individually by lot, or, in case of VP Notes, in accordance with the rules and procedures of VP, and in such place as the Agent or in case of the VP Notes, the VP Agent, may approve and in such manner as the Agent or, as the case may be, the VP Agent, shall deem to be appropriate and fair (without involving any part only of a Note) not more than 60 days prior to the date fixed for redemption and a list of such Notes called for redemption will be published in accordance with Condition 11 not less than 15 nor more than 30 days prior to such date. In the case of a partial redemption of such Notes represented by a permanent global Note, the relevant Notes will be redeemed in accordance with the rules of Euroclear and Clearstream (to be reflected in the records of Euroclear and Clearstream as either a pool factor or a reduction in nominal amount, at their discretion) and, in the case of a partial redemption of VP Notes, the relevant Notes will be redeemed in accordance with the rules and procedures of VP.

Redemption at the Option of the Issuer. (Issuer Call) If Issuer Call is specified as being applicable in the applicable Final Terms, the Issuer may, at any time (if this Note is not a Floating Rate Notesubject, (i) or only on any Interest Payment Date in the case of Senior Preferred Notes and Senior Non-Preferred Notes, to Condition 7(k) and (if this Note is a Floating Rate Noteii) at its optionin the case of Tier 2 Notes, on giving to Condition 7(l)), having (unless otherwise specified in the applicable Final Terms) given not less than 30 nor the minimum period and not more than 60 days’ the maximum period of notice specified in the applicable Final Terms to the holders Agent and, in the case of Notes an issue of this Series Piraeus Bank Notes, to the Piraeus Bank Noteholders Agent and, in accordance with Condition 16, the Noteholders (which notice shall be irrevocable and shall specify the date fixed for redemption) in accordance with Condition 11irrevocable), redeem all or some only of the Notes of this Series then outstanding on any Optional Redemption Date (subject as provided above) specified prior to the stated maturity of such Notes and at the Optional Redemption Amount Amount(s) specified in the applicable Final TermsTerms together, if applicable, with interest accrued to (but excluding) the relevant Optional Redemption Date. Upon the expiry of such notice, the Issuer shall be bound to redeem the Notes accordingly. In the event of a redemption of some only of such the Notes, such redemption must be for an of a nominal amount being not less than EUR1,000,000 the Minimum Redemption Amount and not more than the Maximum Redemption Amount, both as indicated in nominal amount or a higher integral multiple of EUR1,000,000 (or their respective equivalents in other Specified Currencies as determined by the Issuer)applicable Final Terms. In the case of a partial redemption of such Notes in definitive formNotes, the Notes to be redeemed will be selected individually by lot, or, in case of VP Notes, in accordance with the rules and procedures of VP, and in such place as the Agent or in case of the VP Notes, the VP Agent, may approve and in such manner as the Agent or, as the case may be, the VP Agent, shall deem to be appropriate and fair (without involving any part only of a Note) not more than 60 30 days prior to the date fixed for redemption and a list of such the Notes called for redemption will be published in accordance with Condition 11 16 not less than 15 nor more than 30 days prior to such date. In the case of a partial redemption of such Notes which are represented by a permanent global Note, the relevant Notes will be redeemed selected in accordance with the rules of Euroclear and Clearstream and/or Clearstream, Luxembourg (to be reflected in the records of Euroclear and Clearstream Clearstream, Luxembourg as either a pool factor or a reduction in nominal amount, at their discretion) and, in the case of a partial redemption of VP Notes, the relevant Notes will be redeemed in accordance with the rules and procedures of VP).

Redemption at the Option of the Issuer. If The Issuer Call is specified in the applicable Final Terms, the Issuer may, may at any time (if this Note is not a Floating Rate Note) on or only on any Interest Payment Date (if this Note is a Floating Rate Note) at its optionafter 15 August 2029, on giving not less than 30 10 nor more than 60 days’ ' notice to Noteholders and the holders of Notes of this Series Fiscal Agent in accordance with Condition 11 (which notice notices shall be irrevocable and shall specify the date fixed for redemption and the applicable record date), redeem all (but not some only) of the Notes at their principal amount, together with interest accrued to the date fixed for redemption) . At any time prior to 15 August 2029, the Issuer may at its option having given not less than 10 nor more than 60 days' notice to the Noteholders and the Fiscal Agent in accordance with Condition 1111 (which notices shall specify the date fixed for redemption (the Make-Whole Redemption Date) and the applicable record date), redeem all or or, subject as provided in Condition 6.4 below, some only of the Notes at the Make-Whole Redemption Price together with interest accrued to the Make-Whole Redemption Date. Any such notice of this Series then outstanding on any Optional redemption may, at the Issuer's discretion, be subject to one or more conditions precedent, in which case such notice shall state that, in the Issuer's discretion, the Make-Whole Redemption Date may be delayed until such time as any or all such conditions shall be satisfied (subject as provided above) specified prior to or waived by the stated maturity of Issuer in its sole discretion), or such Notes redemption may not occur and at the Optional Redemption Amount specified such notice may be rescinded in the applicable Final Termsevent that any or all such conditions shall not have been satisfied (or waived by the Issuer in its sole discretion) by the Make-Whole Redemption Date, or by the Make- Whole Redemption Date so delayed. In the event of a redemption of some only of such Notes, Any such redemption must be for an of a nominal amount being not less than EUR1,000,000 €100,000 and not more than €300,000,000. The Make-Whole Redemption Price shall be either (i) par or, if higher (ii) the price per Note (as reported in nominal amount or writing to the Issuer and the Fiscal Agent by a higher integral multiple financial adviser selected by the Issuer) at which the yield to 15 August 2029 of EUR1,000,000 such Notes is equal to the sum of the prevailing yield of the Bundesrepublik Deutschland 0.000 per cent. due August 2029 (or their respective equivalents in other Specified Currencies ISIN: DE0001102473) and 0.20 per cent. as determined by the Issuer). In the case of a partial redemption of such Notes in definitive form, Notes to be redeemed will be selected individually by lot, or, in case of VP Notesfinancial adviser, in accordance with generally accepted market practice, at 11.00 a.m. (CET) on the rules and procedures of VP, and in such place as the Agent or in case of the VP Notes, the VP Agent, may approve and in such manner as the Agent or, as the case may be, the VP Agent, shall deem to be appropriate and fair (without involving any part only of a Note) not more than 60 days date three TARGET2 Settlement Days prior to the date fixed for redemption redemption, provided, however that if a financial adviser approved by the Issuer advises the Issuer and a list the Fiscal Agent that, for reasons of illiquidity or otherwise, such Notes called stock is not appropriate for redemption will be published in accordance with Condition 11 not less than 15 nor more than 30 days prior to such date. In the case purpose, such other issue of a partial redemption of government securities as such Notes represented by a permanent global Note, the relevant Notes will be redeemed in accordance with the rules of Euroclear and Clearstream (to be reflected in the records of Euroclear and Clearstream as either a pool factor or a reduction in nominal amount, at their discretion) and, in the case of a partial redemption of VP Notes, the relevant Notes will be redeemed in accordance with the rules and procedures of VPfinancial adviser may recommend.

Redemption at the Option of the Issuer. If the Issuer Call is specified in the applicable Final TermsPricing Supplement as having an option to redeem, the Issuer mayshall, at any time having given: (if this Note is not a Floating Rate Notei) or only on any Interest Payment Date (if this Note is a Floating Rate Note) at its option, on giving not less than 30 nor more than 60 days’ ' notice to the holders of Notes of this Series (which notice shall be irrevocable and shall specify the date fixed for redemption) Noteholders in accordance with Condition 1113; and (ii) not less than 30 days before the giving of the notice referred to in (i), notice to the Agent; (which notices shall be irrevocable), redeem all or some only of the Notes of this Series then outstanding on any Optional Redemption Date (subject as provided above) specified prior to the stated maturity of such Notes and at the Optional Redemption Amount Amount(s) specified in, or determined in the manner specified in, the applicable Final TermsPricing Supplement together, if appropriate, with interest accrued to (but excluding) the relevant Optional Redemption Date. In the event of a redemption of some only of such Notes, Any such redemption must be for an amount being not less than EUR1,000,000 in of a nominal amount equal to the Minimum Redemption Amount or a higher integral multiple of EUR1,000,000 (or their respective equivalents in other Specified Currencies as determined by the Issuer)Higher Redemption Amount. In the case of a partial redemption of such Notes in definitive formNotes, the Notes to be redeemed ("Redeemed Notes") will be selected individually by lot, or, in the case of VP Redeemed Notes represented by definitive Notes, and in accordance with the rules and procedures of VPEuroclear and/or Cedel Bank, and in such place as the Agent or in case of the VP NotesRedeemed Notes represented by a global Note, the VP Agent, may approve and in such manner as the Agent or, as the case may be, the VP Agent, shall deem to be appropriate and fair (without involving any part only of a Note) not more than 60 days prior to the date fixed for redemption and (such date of selection being hereinafter called the "Selection Date"). In the case of Redeemed Notes represented by definitive Notes, a list of the serial numbers of such Redeemed Notes called for redemption will be published in accordance with Condition 11 13 not less than 15 nor more than 30 days prior to the date fixed for redemption. The aggregate nominal amount of Redeemed Notes represented by definitive Notes shall bear the same proportion to the aggregate nominal amount of all Redeemed Notes as the aggregate nominal amount of definitive Notes outstanding bears to the aggregate nominal amount of the Notes outstanding, in each case on the Selection Date, provided that such datefirst mentioned nominal amount shall, if necessary, be rounded downwards to the nearest integral multiple of the Specified Denomination, and the aggregate nominal amount of Redeemed Notes represented by a global Note shall be equal to the balance of the Redeemed Notes. No exchange of the relevant global Note will be permitted during the period from and including the Selection Date to and including the date fixed for redemption pursuant to this paragraph (c) and notice to that effect shall be given by the Issuer to the Noteholders in accordance with Condition 13 at least 5 days prior to the Selection Date. (d) Redemption at the Option of the Noteholders If the Noteholders are specified in the applicable Pricing Supplement as having an option to redeem, upon the holder of any Note giving to the Issuer in accordance with Condition 13 not less than 30 nor more than 60 days' notice (which shall be irrevocable) the Issuer will, upon the expiry of such notice, redeem, subject to, and in accordance with, the terms specified in the applicable Pricing Supplement, in whole (but not in part), such Note on the Optional Redemption Date and at the Optional Redemption Amount together, if appropriate, with interest accrued to (but excluding) the Optional Redemption Date. If this Note is in definitive form, to exercise the right to require redemption of this Note the holder of this Note must deliver such Note at the specified office of any Paying Agent at any time during normal business hours of such Paying Agent falling within the notice period, accompanied by a duly completed and signed notice of exercise in the form (for the time being current) obtainable from any specified office of any Paying Agent (a "Put Notice") and in which the holder must specify a bank account (or, if payment is by cheque, an address) to which payment is to be made under this Condition. (e) Early Redemption Amounts For the purpose of paragraph (b) above and Condition 9, the Notes will be redeemed at the Early Redemption Amount calculated as follows: (i) in the case of Notes with a Final Redemption Amount equal to the Issue Price, at the Final Redemption Amount thereof; (ii) in the case of Notes (other than Zero Coupon Notes but including Instalment Notes and Partly Paid Notes) with a Final Redemption Amount which is or may be less or greater than the Issue Price or which is payable in a Specified Currency other than that in which the Notes are denominated, at the amount specified in, or determined in the manner specified in, the applicable Pricing Supplement or, if no such amount or manner is so specified in the Pricing Supplement, at their nominal amount; or (iii) in the case of Zero Coupon Notes, at an amount (the "Amortised Face Amount") equal to the sum of: (A) the Reference Price; and (B) the product of the Accrual Yield (compounded annually) being applied to the Reference Price from (and including) the Issue Date to (but excluding) the date fixed for redemption or (as the case may be) the date upon which such Note becomes due and repayable. Where such calculation is to be made for a period which is not a whole number of years, it shall be made on the basis of a 360-day year consisting of 12 months of 30 days each or such other calculation basis as may be specified in the applicable Pricing Supplement. (f) Instalments Instalment Notes will be redeemed in the Instalment Amounts and on the Instalment Dates. In the case of a partial redemption of such Notes represented by a permanent global Noteearly redemption, the relevant Early Redemption Amount will be determined pursuant to paragraph (e) above. (g) Partly Paid Notes Partly Paid Notes will be redeemed redeemed, whether at maturity, early redemption or otherwise, in accordance with the rules provisions of Euroclear this Condition and Clearstream the applicable Pricing Supplement. (to be reflected h) Purchases The Issuer, the Guarantor or any of its other Subsidiaries (as defined in the records of Euroclear and Clearstream as either a pool factor or a reduction in nominal amount, Trust Deed) may at their discretion) andany time purchase Notes (provided that, in the case of a partial definitive Notes, all unmatured Receipts, Coupons and Talons appertaining thereto are purchased therewith) at any price in the open market or otherwise. Such Notes may be held, reissued, resold or, at the option of the Issuer or the Guarantor, surrendered to any Paying Agent for cancellation. (i) Cancellation All Notes which are redeemed will forthwith be cancelled (together with all unmatured Receipts and Coupons attached thereto or surrendered therewith at the time of redemption). All Notes so cancelled and the Notes purchased and cancelled pursuant to paragraph (h) above (together with all unmatured Receipts and Coupons cancelled therewith) shall be forwarded to the Agent and cannot be reissued or resold. (j) Late payment on Zero Coupon Notes If the amount payable in respect of any Zero Coupon Note upon redemption of VP Notessuch Zero Coupon Note pursuant to paragraph (a), (b), (c) or (d) above or upon its becoming due and repayable as provided in Condition 9 is improperly withheld or refused, the relevant Notes will amount due and repayable in respect of such Zero Coupon Note shall be redeemed the amount calculated as provided in paragraph (e)(iii) above as though the references therein to the date fixed for the redemption or the date upon which such Zero Coupon Note becomes due and payable were replaced by references to the date which is the earlier of: (i) the date on which all amounts due in respect of such Zero Coupon Note have been paid; and (ii) five days after the date on which the full amount of the moneys payable has been received by the Agent or the Trustee and notice to that effect has been given to the Noteholders in accordance with Condition 13. 7. Taxation Subject to certain exceptions and limitations set forth below, all payments of principal and interest in respect of the rules Notes, Receipts and procedures Coupons by the Issuer or the Guarantor will be made without withholding or deduction for or on account of VPany present or future taxes or duties of whatever nature imposed or levied by or on behalf of the United States of America or any political subdivision or any authority thereof or therein having power to tax unless such withholding or deduction is required by law. In such event, the Issuer or, as the case may be, the Guarantor will pay such additional amounts as shall be necessary in order that the net amounts received by the holders of the Notes, Receipts or Coupons after such withholding or deduction shall equal the respective amounts of principal and interest which would otherwise have been receivable in respect of the Notes, Receipts or Coupons, as the case may be, in the absence of such withholding or deduction; except that no such additional amounts shall be payable with respect to any Note, Receipt or Coupon as a result of withholding or deduction on account of any one or more of the following: (i) any tax or duty which would not have been so imposed but for (A) the existence of any present or former connection between such holder (or between a fiduciary, settlor, or beneficiary of, or a person holding a power over, such holder, if such holder is an estate or a trust, or a member or shareholder of such holder, if such holder is a partnership or a corporation) and the United States of America including, without limitation, such holder (or such fiduciary, settlor, beneficiary, person holding a power, member or shareholder) being or having been a citizen or resident or treated as a resident thereof or being or having been engaged in a trade or business therein or having had a permanent establishment therein, or (B) such holder's present or former status as a personal holding company, foreign personal holding company or passive foreign investment company with respect to the United States of America or a controlled foreign corporation or a foreign tax exempt organisation for United States tax purposes or as a corporation which accumulates earnings to avoid United States Federal income tax; (ii) any tax or duty which would not have been so imposed but for the presentation or surrender by the holder of such Note, Receipt or Coupon for payment on a date more than 30 days after the Relevant Date except to the extent that the holder thereof would have been entitled to an additional amount on presenting the same for payment on such thirtieth day; (iii) any estate, inheritance, gift, sales, transfer or personal property tax or any similar tax or duty; (iv) any tax or duty which would not have been so imposed but for the failure to comply with certification, identification or other information reporting requirements concerning the nationality, residence, identity or connection with the United States of America of the holder or beneficial owner of such Note, Receipt or Coupon, if such compliance is required by statute or by regulation of the United States of America as a precondition of relief or exemption from such tax or duty; (v) any tax or duty which is payable otherwise than by withholding from a payment on a Note, Receipt or Coupon; (vi) any tax or duty imposed on a Noteholder, Receiptholder or Couponholder that actually or constructively owns 10 per cent. or more of the total combined voting power of all classes of stock of the Issuer or, as the case may be, the Guarantor entitled to vote within the meaning of Section 871(h)(3) of the United States Internal Revenue Code of 1986, as amended, and any regulations thereunder (the "Code"); or (vii) any combination of items (i), (ii), (iii), (iv), (v) and (vi), nor will additional amounts be paid with respect to any payment of principal of or interest on any such Note, Receipt or Coupon to any United States Alien which is a fiduciary or partnership or other than the sole beneficial owner of such payment, to the extent that a beneficiary or settlor with respect to such fiduciary or a member of such partnership or the beneficial owner would not have been entitled to the additional amounts had such beneficiary, settlor, member or beneficial owner been the holder of such Note, Receipt or Coupon. As used herein, "United States Alien" means any corporation, partnership, individual or fiduciary that is, for United States Federal tax purposes, a foreign corporation, a non-resident alien individual, a non-resident fiduciary of a foreign estate or trust, or a foreign partnership one or more of the members of which is, for United States Federal tax purposes, a foreign corporation, a non-resident alien individual or a non-resident fiduciary of a foreign estate or trust. Notwithstanding the above, if and so long as a certification, identification or other information reporting requirement referred to in the third paragraph of Condition 6(b) would be fully satisfied by payment of a backup withholding tax or similar charge, the Issuer may elect, by so stating in the Determination Notice, to have the following provisions of this Condition 7 apply in lieu of the provisions of the third paragraph of Condition 6(b). In such event, the Issuer, failing which, if applicable, the Guarantor, will pay as additional amounts such amounts as may be necessary so that every net payment made following the effective date of such requirements outside the United States of America by it, the Guarantor (if applicable) or any of the Paying Agents of principal or interest due in respect of any Note, Receipt or Coupon of which the beneficial owner is a United States Alien (but without any requirement that the nationality, residence or identity of such beneficial owner be disclosed to the Issuer, any Paying Agent or any governmental authority), after withholding or deduction for or on account of such backup withholding tax or similar charge (other than a backup withholding tax or similar charge which (1) is the result of a certification, identification or other information reporting requirement which would not be applicable in the circumstances described in the fourth paragraph of Condition 6(b) or (2) is imposed as a result of any of the circumstances described in paragraph (i), (ii) or (vi) above or any combination thereof), will not be less than the amount provided for in such Note, Receipt or Coupon to be then due and payable. If the Issuer or, if applicable, the Guarantor elects to pay such additional amounts and so long as they are obligated to pay the same, the Issuer may subsequently redeem the Notes in accordance with Condition 6(b). As used in these Terms and Conditions, the "Relevant Date" means the date on which a payment in respect of a Note, Receipt or Coupon first becomes due, except that, if the full amount of the moneys payable has not been duly received by the Agent or the Trustee on or prior to such due date, it means the date on which, the full amount of such moneys having been so received, notice to that effect is duly given to the Noteholders in accordance with Condition 13. 8. Prescription The Notes, Receipts and Coupons will become void unless presented for payment within a period of 10(129)years (in the case of principal) and five years (in the case of interest) after the Relevant Date (as defined in Condition 7) therefor. There shall not be included in any Coupon sheet issued on exchange of a Talon any Coupon the claim for payment in respect of which would be void pursuant to this Condition or Condition 5(b) or any Talon which would be void pursuant to Condition 5(b). 9.

Redemption at the Option of the Issuer. If Issuer Call is specified in the applicable relevant Final Terms as being applicable, the Notes may be redeemed at the option of the Issuer (but subject, in the case of Unsubordinated MREL Notes and Senior Non-Preferred Notes, to Condition 11.13 (Conditions to Substitution, Variation, Early Redemption, Purchase and Modification of Unsubordinated MREL Notes and Senior Non-Preferred Notes) and, in the case of Subordinated Notes, to Condition 11.14 (Conditions to Substitution, Variation, Early Redemption, Purchase and Modification of Subordinated Notes)) in whole or, if so specified in the relevant Final Terms, the Issuer may, at any time (if this Note is not a Floating Rate Note) or only on any Interest Payment Date (if this Note is a Floating Rate Note) at its option, on giving not less than 30 nor more than 60 days’ notice to the holders of Notes of this Series (which notice shall be irrevocable and shall specify the date fixed for redemption) in accordance with Condition 11, redeem all or some only of the Notes of this Series then outstanding part on any Optional Redemption Date (subject as provided aboveCall) specified prior to the stated maturity of such Notes and at the relevant Optional Redemption Amount (Call) plus accrued interest (if any) to (but excluding) such date on the Issuer giving not less than the minimum period nor more than the maximum period of notice specified in the applicable relevant Final Terms. In Terms to the event Noteholders (which notice shall, subject to Condition 11.13 (Conditions to Substitution, Variation, Early Redemption, Purchase and Modification of a redemption Unsubordinated MREL Notes and Senior Non-Preferred Notes) and Condition 11.14 (Conditions to Substitution, Variation, Early Redemption, Purchase and Modification of some only of such Subordinated Notes), such redemption must if applicable, be for an amount being not less than EUR1,000,000 in nominal amount or a higher integral multiple of EUR1,000,000 (or their respective equivalents in other Specified Currencies as determined by irrevocable and shall oblige the Issuer). In Issuer to redeem the case of a partial redemption of such Notes in definitive form, Notes to be redeemed will be selected individually by lot, or, in case of VP Notes, in accordance with the rules and procedures of VP, and in such place as the Agent or in case of the VP Notes, the VP Agent, may approve and in such manner as the Agent or, as the case may be, the VP Agent, shall deem Notes specified in such notice on the relevant Optional Redemption Date (Call) at the Optional Redemption Amount (Call) plus accrued interest (if any) to be appropriate and fair (without involving any part only of a Notebut excluding) not more than 60 days prior to the date fixed for redemption and a list of such Notes called for redemption will be published in accordance with Condition 11 not less than 15 nor more than 30 days prior to such date. In The Optional Redemption Amount (Call) will either be the case specified percentage of a partial redemption the principal amount of such the Notes represented by a permanent global Note, stated in the relevant Notes Final Terms or, if Make-whole Amount is specified in the relevant Final Terms, will be redeemed in accordance an amount equal to the higher of the following (the Make-Whole Amount), together with interest accrued to but excluding the rules of Euroclear and Clearstream Optional Redemption Date (to be reflected in the records of Euroclear and Clearstream as either a pool factor or a reduction in nominal amount, at their discretion) and, in the case of a partial redemption of VP Notes, the relevant Notes will be redeemed in accordance with the rules and procedures of VP.Call):

Redemption at the Option of the Issuer. If The Issuer Call may (if this Condition 6.2 is specified in the applicable relevant Final Terms, the Issuer may, Terms as being applicable) having given at any time (if this Note is least 30 days but not a Floating Rate Note) or only on any Interest Payment Date (if this Note is a Floating Rate Note) at its option, on giving not less than 30 nor more than 60 days’ notice (or such period as specified in the relevant Final Terms) to the holders of Notes of this Series (which notice shall be irrevocable and shall specify the date fixed for redemption) PD Debt Instrument Holders in accordance with Condition 11, redeem all or some only 18 (which notice must comply with the following paragraph and shall be irrevocable) and subject to satisfaction of the Notes of this Series then outstanding on any Optional Redemption Date (subject as provided above) specified prior to the stated maturity of such Notes and at the Optional Redemption Amount relevant conditions specified in the applicable relevant Final Terms. In Terms redeem all (but not, unless and to the event extent that the relevant Final Terms specify otherwise, some only) of a the PD Debt Instruments on any Business Day (being, in the case of interest-bearing PD Debt Instruments, an Interest Payment Date) at their early redemption of some only of such Notes, such redemption must amount (call) (“Early Redemption Amount (Call)”) (which shall be for an amount being not less than EUR1,000,000 in nominal their outstanding principal amount or a higher integral multiple percentage of EUR1,000,000 their outstanding principal amount as specified in the Final Terms) together with accrued interest (if any) thereon. The notice referred to in the preceding paragraph shall specify: the Series of PD Debt Instruments subject to redemption; whether such Series is to be redeemed in whole or their respective equivalents in other Specified Currencies part only and, if in part only, the aggregate principal amount of the PD Debt Instruments of the relevant Series which are to be redeemed; the due date for redemption; the Early Redemption Amount (Call) at which such PD Debt Instruments are to be redeemed; and whether or not accrued interest is to be paid upon redemption and, if so, the amount thereof or the basis or method of calculation thereof, all as determined by specified in the Issuer)relevant Final Terms. In the case of a partial redemption of such Notes in definitive formPD Debt Instruments, Notes the PD Debt Instruments to be redeemed will be selected individually by lot, or, the I&P Agent or in the case of VP Notesa Tranche represented wholly by Registered PD Debt Instruments, the Registrar, and notice of the PD Debt Instruments called for redemption (together with the serial numbers thereof) will be published in accordance with the rules and procedures of VP, and in such place as the Agent or in case of the VP Notes, the VP Agent, may approve and in such manner as the Agent or, as the case may be, the VP Agent, shall deem to be appropriate and fair (without involving any part only of a Note) Condition 18 not more less than 60 15 days prior to the date fixed for redemption and a list of such Notes called for redemption will be published in accordance with Condition 11 not less than 15 nor more than 30 days prior to such date. In the case of a partial redemption of such Notes represented by a permanent global Note, the relevant Notes will be redeemed in accordance with the rules of Euroclear and Clearstream (to be reflected in the records of Euroclear and Clearstream as either a pool factor or a reduction in nominal amount, at their discretion) and, in the case of a partial redemption of VP Notes, the relevant Notes will be redeemed in accordance with the rules and procedures of VPredemption.

Redemption at the Option of the Issuer. (Issuer Call) If 'Issuer Call Call' is specified as being applicable in the applicable Final Terms, the Issuer may, at any time (if this Note is not a Floating Rate Note) or only on any Interest Payment Date (if this Note is a Floating Rate Note) at its option, on giving not less than 30 nor more than 60 days’ notice to having given the holders of Notes of this Series (which notice shall be irrevocable and shall specify the date fixed for redemption) in accordance with Condition 11, Required Notice: redeem all or some only of the Notes of this Series then outstanding on any Optional Redemption Date (subject as provided above) specified prior to the stated maturity of such Notes and at the Optional Redemption Amount(s) both as specified in, or determined in the manner specified in, the applicable Final Terms together, if appropriate, with interest accrued to (but excluding) the relevant Optional Redemption Date. Any such redemption must be of a nominal amount not less than the Minimum Redemption Amount or not more than a Higher Redemption Amount, in each case as may be specified in the applicable Final Terms. In the event of a redemption of some only of such Notes, such redemption must be for an amount being not less than EUR1,000,000 in nominal amount or a higher integral multiple of EUR1,000,000 (or their respective equivalents in other Specified Currencies as determined by the Issuer). In the case of a partial redemption of such Notes in definitive formNotes, the Notes to be redeemed ("Redeemed Notes") will (i) in the case of Redeemed Notes represented by definitive Notes, be selected individually by lot, or, in case of VP Notes, in accordance with the rules and procedures of VP, and in such place as the Agent or in case of the VP Notes, the VP Agent, may approve and in such manner as the Agent or, as the case may be, the VP Agent, shall deem to be appropriate and fair (without involving any part only of a Note) not more than 60 30 days prior to the date fixed for redemption redemption, in a place chosen by the Issuer and a list of such Notes called for redemption will be published approved by the Trustee and (ii) in accordance with Condition 11 not less than 15 nor more than 30 days prior to such date. In the case of a partial redemption of such Redeemed Notes represented by a permanent global Global Note, the relevant Notes will be redeemed selected in accordance with the rules of Euroclear and Clearstream or Clearstream, Luxembourg (to be reflected in the records of Euroclear and Clearstream Clearstream, Luxembourg as either a pool factor or a reduction in nominal amount, at in accordance with their discretion) and, in customary procedures). In the case of a partial redemption of VP Redeemed Notes represented by definitive Notes, a list of the relevant serial numbers of such Redeemed Notes will be redeemed published in accordance with Condition 14 not less than 15 days prior to the rules and procedures of VPdate fixed for redemption.