REG-Commerzbank AG: Pre-stabilisation Poland EUR dual-tranche 10y + 20y

COMMERZBANK AGAnnouncement

07/02/2023 09:15

Pre-Stabilisation notice

February 7, 2023

Not for distribution, directly or indirectly, in or into the United States or
any jurisdiction in which such distribution would be unlawful.

The Republic of Poland

EUR dual-tranche benchmark transaction 10-year and 20-year

Pre-Stabilisation Notice

Commerzbank AG (contact: Daniela Olt-Farrelly; telephone: +49 69 136-20)
hereby announces, as Stabilisation Coordinator, that the Stabilising Managers
named below may stabilise the offer of the following securities in accordance
with Commission Delegated Regulation (EU) 2016/1052 under the Market Abuse
Regulation (EU Regulation 596/2014).

 The security to be stabilised:                                                                                                                                                                
 Issuer:                                                                    The State Treasury of the Republic of Poland, represented by the Minister of Finance                               
 Guarantor (if any):                                                        none                                                                                                               
 Aggregate nominal amount:                                                  tbc                                                                                                                
 Description:                                                               EUR-denominated 10-year and 20-year maturities                                                                     
 Offer price:                                                               tbc                                                                                                                
 Other offer terms:                                                         Rating A2/A-/A-, issued under the EMTN programme, denoms 1k Maturities: 10y 14 Feb 2033/ 20y 14 Feb 2043           
 Stabilisation:                                                                                                                                                                                
 Stabilisation Coordinator: Stabilising Managers:                           Commerzbank Deutsche Bank ING Société Générale                                                                     
 Stabilisation period expected to start on:                                 7 (th)February 2023                                                                                                
 Stabilisation period expected to end on:                                   no later than 30 days after the proposed issue date of the securities                                              
 Existence, maximum size and conditions of use of over-allotment facility.  The Stabilising Managers may over-allot the securities to the extent permitted in accordance with applicable law.  
 Stabilisation trading venue:                                               Luxembourg SE regulated market                                                                                     

In connection with the offer of the above securities, the Stabilising
Manager(s) may over-allot the securities or effect transactions with a view to
supporting the market price of the securities during the stabilisation period
at a level higher than that which might otherwise prevail. However,
stabilisation may not necessarily occur and any stabilisation action, if
begun, may cease at any time Any stabilisation action or over-allotment shall
be conducted in accordance with all applicable laws and rules.

This announcement is for information purposes only and does not constitute an
invitation or offer to underwrite, subscribe for or otherwise acquire or
dispose of any securities of the Issuer in any jurisdiction.

This announcement is not for distribution, directly or indirectly, in or into
the United States or any other jurisdiction in which such distribution would
be unlawful.

END



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