COMMERZBANK AG: Pre Stabilisation - Terra Boligkreditt €1bn 10yr Covered

COMMERZBANK AG: Pre Stabilisation - Terra Boligkreditt €1bn 10yr Covered
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. 


                            Terra Boligkreditt A.S.                            
                                €1,000,000,000                                
           tba%. Fixed Rate Norwegian Covered Bonds due [30] January 2023         
                   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:                             Terra Boligkreditt A.S.                     
                                                                           
Guarantor (if any):                 n/a                                         
                                                                           
ISIN                                XS0881369770                                
                                                                           
Aggregate nominal amount:           € 1,000,000,000                            
                                                                             
Description:                        € Fixed Rate Covered Bonds due [30] 
January 
                                2023, payment date [30] January 2013        
                                                                           
Offer price:                        n/a                                         
                                                                           
Other offer terms:                  Payment [30]-Jan, Listing London. Denoms:   
                                100k+1k. Expected Rating: Aa2 Moody's       
                                                                           
Stabilisation:                                                                  
                                                                           
Stabilising Manager(s):             Coordinating Stabilsation Manager:          


                                                                               
                                    Commerzbank Aktiengesellschaft             
                                                                               
                                    Stabilisation Managers                     
                                                                               
                                    BNP Paribas                                
                                                                               
                                    Natixis                                    
                                                                               
                                    UniCredit                                  


                                                                           
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
unlawful. 
END 
END 
-0- Jan/23/2013 13:22 GMT
 
 
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