COMMERZBANK AG: Pre Stabilisation BMW US Capital NOK tba 3-year

Pre-Stabilisation notice 
23rd November, 2012 
Not for distribution, directly or indirectly, in or into the United States or
any jurisdiction in which such distribution would be unlawful. 

                              BMW US Capital, LLC                              
                                NOK [Benchmark]                                
                      tba%. Notes due [4th December 2015]                      
      Launched pursuant to the issuer's EMTN Programme, dated 10 May 2012      

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:                             BMW US Capital, LLC                         
Guarantor (if any):                 BMW AG                                      
ISIN                                n/a                                         
Aggregate nominal amount:           NOK Benchmark                               
Description:                        Fixed Rate Notes due 4th December 2015      
Offer price:                        n/a                                         
Other offer terms:                  Payment expected 4-Dec, Listing Luxembourg. 
                                Denoms: 10k. Rating: A2/A                   
Stabilising Manager(s):             Coordinating Stabilsation Manager:          

                                    Commerzbank Aktiengesellschaft             
                                    Stabilisation Managers                     
                                    ANZ Banking Group Ltd                      
                                    RBC Europe Limited                         

Stabilisation period commences      23rd November, 2012                         
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
-0- Nov/23/2012 09:07 GMT
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