COMMERZBANK AG: Pre-Stabilisation EFSF 2.35% € 4 bn 2044

Pre-Stabilisation notice 
July 22, 2014 
Not for distribution, directly or indirectly, in or into the United States or
any jurisdiction in which such distribution would be unlawful. 
European Financial Stability Facility (EFSF) 
€ 4,000,000,000 2.35 % due 29th July 2044 
Stabilisation Notice 
Commerzbank AG (Christian Guentzel, tel.: +49 69 136 42996) 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:                             European Financial Stability Facility       
Guarantor (if any):                 Backed by guarantees of Euro area Member    
ISIN                                EU000A1G0DB8                                
Aggregate nominal amount:           EUR 4,000,000,000                           
Description:                        Senior, unsecured, unsubordinated           
Offer price:                        99.108 %                                    
Other offer terms:                  2.35 % due 29th July 2044                   
Stabilising Manager(s):             Commerzbank AG, Goldman Sachs               
                                International, Royal Bank of Scotland       
Stabilisation period commences      22nd July 2014                              
Stabilisation period expected to    21st August 2014 (30 days after the        
end on:                             proposed issue date of the securities)      
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- Jul/23/2014 08:07 GMT
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