COMMERZBANK AG: Pre-Stabilisation Allianz SE EUR PerpNC10

Pre-Stabilisation notice 
17th October, 2013 
Not for distribution, directly or indirectly, in or into the United States or
any jurisdiction in which such distribution would be unlawful. 

                                  Allianz SE                                   
                                  € Benchmark                                 
                      tba%. Subordinated Tier 2 Perpetual NC10                    
                             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:                             Allianz SE                                  
Guarantor (if any):                 n/a                                         
ISIN                                n/a                                         
Aggregate nominal amount:           € Benchmark                                
Description:                        € Subordinated Tier 2 Perpetual NC10       
Offer price:                        n/a                                         
Other offer terms:                  Payment tba-Oct, Listing Luxembourg.        
                                Denoms: 100k+100k. Expected Rating: A2/A+   
Stabilising Manager(s):             Coordinating Stabilsation Manager:          

                                    Commerzbank Aktiengesellschaft             
                                    Stabilisation Managers                     
                                    Credit Agricole CIB                        
                                    Deutsche Bank AG, London Branch            

Stabilisation period commences      17th October, 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
-0- Oct/17/2013 07:39 GMT
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