Common use of Redemption at the option of the Issuer (Issuer Call Clause in Contracts

Redemption at the option of the Issuer (Issuer Call. If Issuer Call is specified in the applicable Final Terms, the Issuer may, having given: (i) not less than 15 nor more than 30 days’ notice to the Noteholders in accordance with Condition 13; and (ii) not less than 15 days before the giving of the notice referred to in (i), notice to the Agent; (which notices shall be irrevocable and shall specify the date fixed for redemption), redeem all or some only of the Notes then outstanding on any Optional Redemption Date and at the Optional Redemption Amount(s) 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 at least equal to the Minimum Redemption Amount or not greater than the Maximum Redemption Amount. In the case of a partial redemption of Notes, the Notes to be redeemed (“Redeemed Notes”) will be selected individually by lot, in the case of Redeemed Notes represented by definitive Notes, and in accordance with the rules of Euroclear and/or Clearstream, Luxembourg, (to be reflected in the records of Euroclear and Clearstream, Luxembourg as either a pool factor or a reduction in nominal amount, at their discretion) in the case of Redeemed Notes represented by a Global Note, not more than 30 days prior to the date fixed for redemption (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 will be published in accordance with Condition 13 not less than 15 days prior to the date fixed for redemption. 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 five days prior to the Selection Date.

Redemption at the option of the Issuer (Issuer Call. If Issuer Call is specified as being applicable in the applicable Final TermsPricing Supplement, the Issuer may, having given: (i) not less than 15 nor more than 30 days’ notice to the Noteholders in accordance with Condition 1315; and (ii) not less than 15 days before the giving of the notice referred to in (i), notice to to: (a) the Principal Paying Agent; and (b) in the case of a redemption of Registered Notes, the Registrar; (which notices shall be irrevocable and shall specify the date fixed for redemption), redeem all or some only of the Notes then outstanding on any Optional Redemption Date and at the Optional Redemption Amount(s) specified in, or determined in the manner specified in, the applicable Final Terms Pricing Supplement together, if appropriate, with interest accrued to (but excluding) the relevant Optional Redemption Date. Any such redemption must be of a nominal amount at least equal not less than to the Minimum Redemption Amount or and not greater more than the Maximum Redemption AmountAmount in each case as may be specified in the applicable Pricing Supplement. In the case of a partial redemption of Notes, the Notes to be redeemed (“Redeemed Notes”) will be selected individually by lot, (i) in the case of Redeemed Notes represented by definitive Notes, be selected individually by lot, not more than 30 days prior to the date fixed for redemption and in accordance with the rules of Euroclear and/or Clearstream, Luxembourg, (to be reflected in the records of Euroclear and Clearstream, Luxembourg as either a pool factor or a reduction in nominal amount, at their discretionii) in the case of Redeemed Notes represented by a Global Note, not more than 30 days prior to be selected in accordance with the date fixed for redemption (such date rules of selection being hereinafter called Euroclear and/or Clearstream and/or the “Selection Date”)CMU. In the case of Redeemed Notes represented by definitive Notes, a list of the serial numbers of such Redeemed Notes will be published in accordance with Condition 13 15 not less than 15 days prior to the date fixed for redemption. 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 five days prior to the Selection Date.

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, having given: (i) given not less than 15 the minimum period nor more than 30 days’ the maximum period of notice specified in the applicable Final Terms to the Noteholders in accordance with Condition 13; and (ii) not less than 15 days before the giving of the notice referred to in (i), notice to the Agent; 14 (which notices notice shall be irrevocable and shall specify the date fixed for redemption)) and the Principal Paying Agent, redeem all or some only of the Notes then outstanding on any Optional Redemption Date and at the Optional Redemption Amount(s) specified in, or determined in the manner specified in, the applicable Final Terms together, if appropriateapplicable, with interest accrued to (but excluding) the relevant Optional Redemption Date. Any such redemption must be of a nominal amount at least equal to not less than the Minimum Redemption Amount or and not greater more than the Maximum Redemption AmountAmount in each case as may be specified in the applicable Final Terms. In the case of a partial redemption of Notes, the Notes to be redeemed (“"Redeemed Notes”") will be selected individually by lot, (i) in the case of Redeemed Notes represented by definitive NotesNotes be selected individually by lot, not more than 30 days prior to the date fixed for redemption, and in accordance with the rules of Euroclear and/or Clearstream, Luxembourg, (to be reflected in the records of Euroclear and Clearstream, Luxembourg as either a pool factor or a reduction in nominal amount, at their discretionii) in the case of Redeemed Notes represented by a Global Note, not more than 30 days prior to be selected in accordance with the date fixed for redemption (such date rules of selection being hereinafter called the “Selection Date”)Euroclear and/or Clearstream, Luxembourg and/or DTC. In the case of Redeemed Notes represented by definitive Notes, a list of the serial numbers of such Redeemed Notes will be published in accordance with Condition 13 14 not less than 15 days prior to the date fixed for redemption. 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 five days prior to the Selection Date.

Redemption at the option of the Issuer (Issuer Call. If an Issuer Call is specified as being applicable in the applicable Final TermsPricing Supplement, the Issuer may, having given: (subject (i) in the case of Senior Preferred Notes and Senior Non-Preferred Notes, to Condition 4(k) and (ii) in the case of Tier 2 Notes, to Condition 4(l) and (if applicable) Condition 4(k)), having (unless otherwise specified in the applicable Pricing Supplement) given not more than the maximum period nor less than 15 nor more than 30 days’ minimum period of notice specified in the applicable Pricing Supplement to the Agent and the Noteholders Agent and, in accordance with Condition 13; and (ii) not less than 15 days before , the giving of the notice referred to in (i), notice to the Agent; Noteholders (which notices notice shall be irrevocable and shall specify the date fixed for redemptionirrevocable), redeem all or (if so specified in the applicable Pricing Supplement) some only of the Notes then outstanding on any Optional Redemption Date and at the Optional Redemption Amount(s) specified in, or determined in the manner specified in, the applicable Final Terms Pricing Supplement together, if appropriateapplicable, with unpaid interest accrued to (but excluding) the relevant Optional Redemption Date. Any 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 the Notes, such redemption must be of a nominal amount at least equal to being not less than the Minimum Redemption Amount or not greater more than the Maximum Redemption Amount, both as indicated in the applicable Pricing Supplement. In the case of a partial redemption of definitive Notes, the Notes to be redeemed (“Redeemed Notes”) will be selected individually by lot, not more than 30 days prior to the date fixed for redemption and a list of the Notes called for redemption will be published in accordance with Condition 13 not less than 15 days prior to such date. In the case of Redeemed a partial redemption of Notes which are represented by definitive Notesa global Note, and the relevant Notes will be selected in accordance with the rules of Euroclear and/or Clearstream, Luxembourg, Luxembourg (to be reflected in the records of Euroclear and Clearstream, Luxembourg as either a pool factor or a reduction in nominal amount, amount at their discretion) in the case of Redeemed Notes represented by a Global Note, not more than 30 days prior to the date fixed for redemption (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 will be published in accordance with Condition 13 not less than 15 days prior to the date fixed for redemption. 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 five days prior to the Selection Date.

Redemption at the option of the Issuer (Issuer Call. If Issuer Call is specified in the applicable Final Terms, the Issuer mayshall, having given: (i) not less than 15 30 nor more than 30 60 days’ notice to the Noteholders in accordance with Condition 13; and (ii) not less than 15 30 days before the giving of the notice referred to in (i), notice to the Agent; (which notices shall be irrevocable and shall specify the date fixed for redemptionirrevocable), redeem all or some only of the Notes then outstanding on any Optional Redemption Date and at the Optional Redemption Amount(s) 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 partial redemption must be of a nominal amount at least equal to not less than the Minimum Redemption Amount or not greater more than the Maximum Redemption Amount. In the case of a partial redemption of Notes, the Notes to be redeemed (“Redeemed Notes”) will be selected individually by lot, in the case of Redeemed Notes represented by definitive Notes, and in accordance with the rules of Euroclear and/or Clearstream, Luxembourg, Luxembourg (to be reflected in the records of Euroclear and or Clearstream, Luxembourg as either a pool factor or a reduction in nominal amount, at their discretion) ), in the case of Redeemed Notes represented by a Global global Note, not more than 30 60 days prior to the date fixed for redemption (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 will be published in accordance with Condition 13 not less than 15 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 first 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 global Note will be permitted during the period from (and including) including the Selection Date to (and including) 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 five 5 days prior to the Selection Date.

Redemption at the option of the Issuer (Issuer Call. If Issuer Call is specified in the applicable Final Terms, the Issuer may, having given: (i) not less than 15 nor more than 30 days’ notice to the Ordinary Noteholders in accordance with Condition 1312 below; and (ii) not less than 15 days before the giving of the notice referred to in (i), notice to the Principal Paying Agent; , and to the Note Registrar, (which notices shall be irrevocable and shall specify the date fixed for redemption), redeem all or some only of the Ordinary Notes then outstanding on any Optional Redemption Date and at the Optional Redemption Amount(s) 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 at least equal to not less than the Minimum Redemption Amount or not greater more than the a Maximum Redemption Amount, in each case as may be specified in the applicable Final Terms. In the case of a partial redemption of Ordinary Notes, the Ordinary Notes to be redeemed (“Redeemed Notes”) will be selected individually by lot, in the case of Redeemed Notes represented by definitive Ordinary Notes, and in accordance with the rules of Euroclear and/or Clearstream, Luxembourg, (to be reflected in the records of Euroclear and Clearstream, Luxembourg as either a pool factor or a reduction in nominal amount, at their discretion) in the case of Redeemed Notes represented by a Global Note, not more than 30 days prior to the date fixed for redemption (such date of selection being hereinafter called the “Selection Date”). In the case of Redeemed Notes represented by definitive Ordinary Notes, a list of the serial numbers of such Redeemed Notes will be published in accordance with Condition 13 12 not less than 15 days prior to the date fixed for redemption. 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 (cCondition 5(b) and notice to that effect shall be given by the Issuer to the Ordinary Noteholders in accordance with Condition 13 12 at least five days prior to the Selection Date.

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, having given: (ia) not less than 15 nor more than 30 days’ notice to the Noteholders Bondholders in accordance with Condition 1311; and (iib) not less than 15 days before the giving of the notice referred to in (i)a) above, notice to the Agent; (which notices shall be irrevocable and shall specify the date fixed for redemption), redeem all or some only of the Notes Bonds then outstanding Outstanding on any Optional Redemption Date and at the Optional Redemption Amount(s) 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 at least equal to not less than the Minimum Redemption Amount or and not greater more than the Maximum Redemption Amount, in each case as may be specified in the applicable Final Terms. In the case of a partial redemption of NotesBonds, the Notes Bonds to be redeemed (“Redeemed Notes”Bonds) will be selected individually by lot, in the case of Redeemed Notes Bonds represented by definitive NotesBonds, and in accordance with the rules of Euroclear and/or Clearstream, Luxembourg, (to be reflected in the records of Euroclear and Clearstream, Luxembourg as either a pool factor or a reduction in nominal amount, at their discretion) in the case of Redeemed Notes Bonds represented by a Global NoteBond, not more than 30 days prior to the date fixed for redemption (such date of selection being hereinafter called the “Selection Date”). In the case of Redeemed Notes Bonds represented by definitive NotesBonds, a list of the serial numbers of such Redeemed Notes Bonds will be published in accordance with Condition 13 11 not less than 15 days prior to the date fixed for redemption. The aggregate nominal amount of Redeemed Bonds represented by definitive Bonds shall bear the same proportion to the aggregate nominal amount of all Redeemed Bonds as the aggregate nominal amount of definitive Bonds Outstanding bears to the aggregate nominal amount of the Bonds Outstanding, in each case on the Selection Date, provided that such first 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 Bonds represented by a Global Bond shall be equal to the balance of the Redeemed Bonds. No exchange of the relevant Global Note Bond 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 five days prior to the Selection Date.Condition

Redemption at the option of the Issuer (Issuer Call. If Issuer Call is specified in the applicable Final Terms, the Issuer may, having given: (i) not less than 15 nor more than 30 days’ notice to the Noteholders in accordance with Condition 1314 with a copy to the Guarantor; and (ii) not less than 15 days before the giving of the notice referred to in (i)) above, notice to the Agent; Principal Paying Agent and, in the case of a redemption of Registered Notes, the Registrar, (which notices shall be irrevocable (other than in the circumstances set out in the next sentence) and shall specify the date fixed for redemptionredemption (each such date, an “Optional Redemption Date”)), redeem all or some only of in whole or, if so specified in the relevant Final Terms, in part the Notes then outstanding on at any Optional Redemption time prior to their Maturity Date and at the Optional Redemption Amount(s) 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 notice of redemption must may, at the Issuer's discretion, be of a nominal amount at least equal subject to one or more conditions precedent, in which case such notice shall state that, in the Minimum Issuer's discretion, the Optional Redemption Amount Date may be delayed until such time as any or all such conditions shall be satisfied (or waived by the Issuer in its sole discretion), or such redemption may not greater than occur and such notice may be rescinded in the Maximum event that any or all such conditions shall not have been satisfied (or waived by the Issuer in its sole discretion) by the Optional Redemption AmountDate, or by the Optional Redemption Date so delayed. In the case of a partial redemption of Notes, the Notes to be redeemed (“Redeemed Notes”) will be selected individually by lot, in the case of Redeemed Notes represented by definitive Notes, and in accordance with the rules of Euroclear and/or Clearstream, Luxembourg, Luxembourg (to be reflected in the records of Euroclear and Clearstream, Luxembourg as either a pool factor or a reduction in nominal amount, at their discretion) in the case of Redeemed Notes represented by a Global Note, not more than 30 days prior to the date fixed for redemption (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 will be published in accordance with Condition 13 14 not less than 15 days prior to the date fixed for redemption. 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 14 at least five days prior to the Selection Date. For the purposes of this Condition 7(c) only, the “Optional Redemption Amount” will either be: (i) the specified percentage of the nominal amount of the Notes stated in the applicable Final Terms which shall be a nominal amount of not less than the Minimum Redemption Amount and not more than the Maximum Redemption Amount, in each case as may be specified in the applicable Final Terms: or (ii) in the case of Notes that are not Step Up Notes only, if Make-Whole Amount is specified in the applicable Final Terms, will be an amount which is the higher of: (a) 100 per cent. of the Early Redemption Amount of the Note to be redeemed; or (b) as determined by the Reference Dealers (as defined below), the sum of the then current values of the remaining scheduled payments of principal and interest to maturity (or, if Par Call Period is specified in the applicable Final Terms, to the Par Call Period Commencement Date) (not including any interest accrued on the Notes to, but excluding, the relevant Optional Redemption Date) discounted to the Optional Redemption Date on an annual basis (based on the actual number of days elapsed divided by 365 or (in the case of a leap year) by 366) at the Reference Bond Rate (as defined below) plus the Redemption Margin, plus, in each case, any interest accrued on the Notes to, but excluding, the Optional Redemption Date; or (iii) in the case of Step Up Notes only, if Make-Whole Amount is specified in the applicable Final Terms, will be an amount which is the higher of: a. 100 per cent. of the principal amount of the Note to be redeemed; or b. as determined by the Reference Dealers, the sum of present values of the remaining scheduled payments of principal of the Step Up Notes to be redeemed and interest thereon to maturity (or, if Par Call Period is specified in the applicable Final Terms, to the Par Call Period Commencement Date) (calculated at the Initial Rate of Interest until the interest period immediately following the Step Up Date, at which point, the Rate of Interest shall be deemed to be the Subsequent Rate of Interest unless the Renewable Installed Capacity Condition or the Direct Green House Gas Emissions Condition, as the case may be, has been satisfied and ENEL has provided the notice described in the definition of “Renewable Installed Capacity Condition” or “Direct Green House Gas Emissions Condition”, as the case may be, in Condition 5(c) within the deadline provided therein confirming the satisfaction of the Renewable Installed Capacity Condition or Direct Green House Gas Emissions Condition, as the case may be) discounted to the Optional Redemption Date on an annual basis (based on the actual number of days elapsed divided by 365 or (in the case of a leap year) by 366) at the Reference Bond Rate (as defined below) plus the Redemption Margin.

Redemption at the option of the Issuer (Issuer Call. If an Issuer Call is specified as being applicable in the applicable Final Terms or the Drawdown Prospectus (as the case may be), the Issuer may, (subject (i) in the case of Senior Preferred Notes and Senior Non-Preferred Notes, to Condition 7(l) and (ii) in the case of Tier 2 Notes, to Condition 7(m)), having (unless otherwise specified in the applicable Final Terms, Terms or the Issuer may, having given: Drawdown Prospectus (ias the case may be)) given not more than the maximum period nor less than 15 nor more than 30 days’ minimum period of notice specified in the applicable Final Terms or Drawdown Prospectus (as the case may be) to the Agent and, in the case of an issue of Alpha Bank Notes, to the Alpha Bank Noteholders Agent and, in accordance with Condition 13; and (ii) not less than 15 days before 16, the giving of the notice referred to in (i), notice to the Agent; Noteholders (which notices notice shall be irrevocable and shall specify the date fixed for redemptionirrevocable), redeem all or some only of the Notes then outstanding on any Optional Redemption Date and at the Optional Redemption Amount(s) specified in, or determined in the manner specified in, the applicable Final Terms or the Drawdown Prospectus (as the case may be) together, if appropriateapplicable, with interest accrued to (but excluding) the relevant Optional Redemption Date. Any 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 the Notes, such redemption must be of a nominal amount at least equal to being not less than the Minimum Redemption Amount or not greater more than the a Maximum Redemption Amount, both as indicated in the applicable Final Terms or the Drawdown Prospectus (as the case may be). In the case of a partial redemption of definitive Notes, the Notes to be redeemed (“Redeemed Notes”) will be selected individually by lot, not more than 30 days prior to the date fixed for redemption and a list of the Notes called for redemption will be published in accordance with Condition 16 not less than 15 days prior to such date. In the case of Redeemed a partial redemption of Notes which are represented by definitive Notesa global Note, and the relevant Notes will be selected in accordance with the rules of Euroclear and/or Clearstream, Luxembourg, Luxembourg (to be reflected in the records of Euroclear and Clearstream, Luxembourg as either a pool factor or a reduction in nominal amount, amount at their discretion) in the case of Redeemed Notes represented by a Global Note, not more than 30 days prior to the date fixed for redemption (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 will be published in accordance with Condition 13 not less than 15 days prior to the date fixed for redemption. 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 five days prior to the Selection Date.

Redemption at the option of the Issuer (Issuer Call. If Issuer Call is specified in the applicable Final Terms, the Issuer may, having given: (i) not less than 15 nor more than 30 days’ notice to the Noteholders in accordance with Condition 13; and (ii) not less than 15 days before the giving of the notice referred to in (i), notice to the Agent; (which notices shall be irrevocable and shall specify the date fixed for redemption), redeem all or some only of the Notes then outstanding on any Optional Redemption Date and at the Optional Redemption Amount(s) 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 at least equal to the Minimum Redemption Amount or not greater than the Maximum Redemption Amount. In the case of a partial redemption of Notes, the Notes to be redeemed (“Redeemed Notes”) will be selected individually by lot, in the case of Redeemed Notes represented by definitive Notes, and in accordance with the rules of Euroclear and/or Clearstream, Luxembourg, (to be reflected in the records of Euroclear and Clearstream, Luxembourg as either a pool factor or a reduction in nominal amount, at their discretion) in the case of Redeemed Notes represented by a Global Note, not more than 30 days prior to the date fixed for redemption (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 will be published in accordance with Condition 13 not less than 15 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 first 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 five days prior to the Selection Date.

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, having given: (ia) not less than 15 nor more than 30 days’ notice to the Noteholders Bondholders in accordance with Condition 1311; and (iib) not less than 15 days before the giving of the notice referred to in (i)a) above, notice to the Agent; (which notices shall be irrevocable and shall specify the date fixed for redemption), redeem all or some only of the Notes Bonds then outstanding Outstanding on any Optional Redemption Date and at the Optional Redemption Amount(s) 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 at least equal to not less than the Minimum Redemption Amount or and not greater more than the Maximum Redemption Amount, in each case as may be specified in the applicable Final Terms. In the case of a partial redemption of NotesBonds, the Notes Bonds to be redeemed (“Redeemed Notes”Bonds) will be selected individually by lot, in the case of Redeemed Notes Bonds represented by definitive NotesBonds, and in accordance with the rules of Euroclear and/or Clearstream, Luxembourg, (to be reflected in the records of Euroclear and Clearstream, Luxembourg as either a pool factor or a reduction in nominal amount, at their discretion) in the case of Redeemed Notes Bonds represented by a Global NoteBond, not more than 30 days prior to the date fixed for redemption (such date of selection being hereinafter called the “Selection Date”). In the case of Redeemed Notes Bonds represented by definitive NotesBonds, a list of the serial numbers of such Redeemed Notes Bonds will be published in accordance with Condition 13 11 not less than 15 days prior to the date fixed for redemption. The aggregate nominal amount of Redeemed Bonds represented by definitive Bonds shall bear the same proportion to the aggregate nominal amount of all Redeemed Bonds as the aggregate nominal amount of definitive Bonds Outstanding bears to the aggregate nominal amount of the Bonds Outstanding, in each case on the Selection Date, provided that such first 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 Bonds represented by a Global Bond shall be equal to the balance of the Redeemed Bonds. No exchange of the relevant Global Note Bond 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) Condition 5.4 and notice to that effect shall be given by the Issuer to the Noteholders Bondholders in accordance with Condition 13 11 at least five days prior to the Selection Date.

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, having given: given (iunless otherwise specified in the Final Terms) not less than 15 nor more than 30 days’ notice to the Noteholders in accordance with Condition 13; and 13 (iiNotices) not less than 15 days before the giving of the notice referred to in (i), notice to the Agent; (which notices notice shall be irrevocable and shall specify the date fixed for redemption), redeem all or some only of the Notes then outstanding on any Optional Redemption Date and at the Optional Redemption Amount(s) 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 at least equal to not less than the Minimum Redemption Amount or and not greater more than the Maximum Redemption Amount, in each case as may be specified in the applicable Final Terms. In The Optional Redemption Amount will either be the specified percentage of the nominal amount of the Notes stated in the applicable Final Terms or, if Make-Whole Amount is specified in the applicable Final Terms, will be an amount calculated by the Issuer or an appointed Agent on its behalf equal to the higher of: (a) 100 per cent. of the principal amount of the Note to be redeemed; or (b) as determined by the Reference Dealers (as defined below), the sum of the then current values of the remaining scheduled payments of principal and interest (not including any interest accrued on the Notes to, but excluding, the Optional Redemption Date) discounted to the Optional Redemption Date on an annual basis (based on the actual number of days elapsed divided by 365 or (in the case of a partial redemption of Notesleap year) by 366) at the Reference Dealer Rate (as defined below) plus the Redemption Margin, plus, in each case, any interest accrued on the Notes to, but excluding, the Notes to Optional Redemption Date. As used in this Condition 6.3: Redemption Margin shall be redeemed (“Redeemed Notes”) will be selected individually by lot, as set out in the case of Redeemed Notes represented by definitive Notes, and in accordance with the rules of Euroclear and/or Clearstream, Luxembourg, (to applicable Final Terms; Reference Bond shall be reflected as set out in the records of Euroclear and Clearstream, Luxembourg applicable Final Terms; Reference Dealers shall be as either a pool factor or a reduction in nominal amount, at their discretion) set out in the case of Redeemed Notes represented by a Global Note, not more than 30 days prior to the date fixed for redemption (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 will be published in accordance with Condition 13 not less than 15 days prior to the date fixed for redemption. 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 five days prior to the Selection Date.applicable Final Terms; and

Redemption at the option of the Issuer (Issuer Call. ‌ If Issuer Call is specified in the applicable Final Terms, the Issuer may, having given: at any time (iif 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 15 30 nor more than 30 60 days’ notice to the Noteholders in accordance with Condition 13; and (ii) not less than 15 days before the giving holders of the notice referred to in (i), notice to the Agent; Notes of this Series (which notices 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(s) Amount specified in, or determined in the manner specified in, the applicable Final Terms togetherTerms. In the event of a redemption of some only of such Notes, if appropriate, with interest accrued to (but excluding) the relevant Optional Redemption Date. Any such redemption must be of a for an amount being not less than EUR1,000,000 in nominal amount at least equal to or a higher integral multiple of EUR1,000,000 (or their respective equivalents in other Specified Currencies as determined by the Minimum Redemption Amount or not greater than the Maximum Redemption AmountIssuer). In the case of a partial redemption of Notessuch Notes in definitive form, the Notes to be redeemed (“Redeemed Notes”) 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 Principal Paying Agent and (in the case of Redeemed Registered Notes only) the Registrar or in case of the VP Notes, the VP Agent, may approve and in such manner as the Principal Paying Agent and (in the case of Registered Notes only) the Registrar 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 definitive Notesa Global Note, and the relevant Notes will be redeemed in accordance with the rules of Euroclear and/or Clearstream, Luxembourg, and Clearstream (to be reflected in the records of Euroclear and Clearstream, Luxembourg Clearstream as either a pool factor or a reduction in nominal amount, at their discretion) and, in the case of Redeemed Notes represented by a Global Note, not more than 30 days prior to the date fixed for partial redemption (such date of selection being hereinafter called the “Selection Date”). In the case of Redeemed Notes represented by definitive VP Notes, a list of the serial numbers of such Redeemed relevant Notes will be published redeemed in accordance with Condition 13 not less than 15 days prior to the date fixed for redemption. No exchange rules and procedures 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 five days prior to the Selection DateVP.

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, having given: (i) given not less than 15 the minimum period nor more than 30 days’ the maximum period of notice specified in applicable Final Terms to the VPS Noteholders in accordance with Condition 13; and (ii) not less than 15 days before the giving of the notice referred to in (i), notice to the Agent; 11 (which notices notice shall be irrevocable and shall specify the date fixed for redemption), redeem all or (if redemption in part is specified as being applicable in the applicable Final Terms) some only of the VPS Notes then outstanding on any Optional Redemption Date and at the Optional Redemption Amount(s) 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 If redemption in part is specified as being applicable in the applicable Final Terms, any such redemption must be of a nominal amount at least equal to not less than the Minimum Redemption Amount or and not greater more than the Maximum Redemption Amount, in each case as may be specified in the applicable Final Terms. In the case of a partial redemption of VPS Notes, the VPS Notes to be redeemed (“Redeemed Notes”) will be selected individually by lot, in the case of Redeemed Notes represented by definitive Notes, and in accordance with the rules and procedures of Euroclear and/or Clearstream, Luxembourg, (to be reflected in the records of Euroclear and Clearstream, Luxembourg as either a pool factor or a reduction in nominal amount, at their discretion) in the case of Redeemed Notes represented by a Global NoteVPS, not more than 30 days prior to the date fixed for redemption redemption. In this Condition 6.3, Optional Redemption Amount(s) means: (a) if Reference Bond Basis is specified in the applicable Final Terms, (A) the outstanding principal amount of the relevant Note or (B) if higher, the sum, as determined by the Calculation Agent, of the present values of the remaining scheduled payments of principal and interest on the Notes to be redeemed (not including any portion of such payments of interest accrued to the date of selection being hereinafter called redemption) discounted to the “Selection Date”). In Optional Redemption Date on an annual basis (assuming a 360 day year consisting of twelve 30 day months) at the case of Redeemed Notes represented Reference Rate plus the Optional Redemption Margin specified in the applicable Final Terms, where: CA Selected Bond means a government security or securities (which, if the Specified Currency is euro, will be a German Bundesobligationen) selected by definitive Notes, the Calculation Agent as having a list maturity comparable to the remaining term of the serial numbers Notes to be redeemed that would be utilised, at the time of such Redeemed Notes will be published selection and in accordance with Condition 13 not less than 15 days prior customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the date fixed for redemption. No exchange remaining term 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 five days prior to the Selection Date.such Notes;