REG-Commerzbank AG: Pre-Stabilisation Deutsche Pfanbriefbank €500mil 4yr

Wed Jan 23, 2013 8:33am EST

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Pre-Stabilisation notice

23rd January, 2013

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

                          Deutsche Pfandbriefbank AG                           


                0.875%. Mortgage Pfandbrief due 30 January 2017                

                   Launched off the issuer's EMTN Programme                    

Stabilisation Notice

Commerzbank AG (contact: Ian Turner; telephone: 44-207-475-1817) hereby
announces that the Stabilising Manager(s) named below may stabilise the offer
of the following securities in accordance with Commission Regulation (EC) No.
2273/2003 implementing the Market Abuse Directive (2003/6/EC).

The security to be stabilised:                                                 
Issuer:                             Deutsche Pfandbriefbank AG                 
Guarantor (if any):                 n/a                                        
ISIN                                DE000A1RFEY7                               
Aggregate nominal amount:           € 500,000,000                              
Description:                        €500mil 0.875% Hypotheken due 30 January   
Offer price:                        99.785                                     
Other offer terms:                  Payment 30-Jan, Listing Munich. Denoms:    
                                    1k+1k. Expected Rating: Aa1 Moody's / AA+ S
Stabilising Manager(s):             Coordinating Stabilsation Manager:         
                                    Commerzbank Aktiengesellschaft             
                                    Stabilisation Managers                     
                                    Barclays Bank plc                          
                                    BNP Paribas                                
Stabilisation period commences      23rd January, 2013                         
Stabilisation period expected to    No later than 30 days                      
end on:                                                                        
Existence, maximum size and         The Stabilising Manager(s) may over-allot  
conditions of use of over-allotment the securities to the extent permitted in  
facility.                           accordance with applicable law.            

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 at a level higher than that which
might otherwise prevail. However, there is no assurance that the Stabilising
Manager(s) will take any stabilisation action and any stabilisation action, if
begun, may be ended 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

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