Pricing Supplement. Euro 10,000,000,000 WestHyp Debt Issuance Programme. Westfālische Hypothekenbank Aktiengesellschaft. and. Westhyp Finance B.V.

Transcription

1 February 2, 2000 Pricing Supplement Westfãlische Hypothekenbank Aktiengesellschaft Euro 10,000, % and Floating Rate Subordinated Notes of 2000/2015 issued pursuant to the Euro 10,000,000,000 WestHyp Debt Issuance Programme of Westfālische Hypothekenbank Aktiengesellschaft and Westhyp Finance B.V. Issue Price: 100 per cent. Issue Date: February 2, 2000 This Pricing Supplement is issued to give details of an issue of Notes under the Euro 10,000,000,000 WestHyp Debt Issuance Programme of Westfālische Hypothekenbank Aktiengesellschaft and Westhyp Finance B.V. dated February 10, 1998, as amended and restated on May 31,1999 [the "Programme") and is to be read in conjunction with the Terms and Conditions of the Notes (the "Terms and Conditions") set forth in the Information Memorandum pertaining to the Programme, as the same may be amended or supplemented from time to time. Capitalised Terms not otherwise defined herein shall have the meanings specified in the Terms and Conditions. All references in this Pricing Supplement to numbered Articles and sections are to Articles and sections of the Terms and Conditions. All provisions in the Terms and Conditions corresponding to items in this Pricing Supplement which are either not selected or completed or which are deleted shall be deemed to be deleted from the terms and conditions applicable to the Notes (the "Conditions").

2 Issuer Westfālische Hypathekenbank Aktiengesellschaft Farm of Conditions' *** Long-Form (in the case of registered Pfandbriefe: if the Terms and Conditions and the Pricing Supplement are to bo attached to the relevant Note) Integrated (in the case of registered Pfandhriefe: if the Conditions are to be attached to the relevant Note) Language of Conditions" Spache der Bedingungen German only *** English only English and German (English controlling) German and Englis h (German controlling) CURRENCY, DENOMINATION, REDENOMINATION, FORM, CERTAIN DEFINITIONS ( 1) Currency and Denomination Specified Currency Euro Aggregate Principal Amount Euro 10,000,000 Specified Denomination(s) * Euro 10,000 Number of Notes to be issued in each Specified Denomination" Pfandbriefe D Mortgage Pfandbriefe Public Pfandbriefe Jumbo- Pfandbrief Bearer Notes/Registered Pfandbriefe *** Bearer Notes Registered Pfandbriefe 2

3 Minimum Principal Amount for Transfers (specify) *** TEFRA C* *** Permanent Global Note Temporary Global Nate exchangeable for Definitive Notes Definitive Notes and Collective Global Notes TEFRA D* Temporary Global Note exchangeable for: Permanent Global Note Definitive Nates Definitive Notes and Collective Global Notes Neither TEFRA D nor TEFRA C" Permanent Global Note Temporary Global Note exchangeable for Definitive Notes Definitive Notes and Collective Global Notes Definitive Notes No Coupons Talons Receipts 3

4 Certain Definitions Clearing System D Deutsche Bōrse Clearing AG *** Morgan Guaranty Trust Company of New York, Brussels office (Euroclear Operator) *** Clearstream Banking *** Other specify ( ) Calculation Agent *** Fiscal Agent Yes *** Other (specify) COC Marches STATUS ( Z)" *** Unsubordinated *** Subordinated [INTERESTI IINDEXATION] ( 3) *** Fixed Rate Notes Rate of Interest and Interest Payment Dates Rate of Interest 9-10% Per annum Inerest Commencement Date 2 February 2000 Fixed Interest Date{s} 2 February, subject to adjustment in accordance with the Following Business Day Convention for which the Business Day is Target. For the avoidance of doubt, each Interest Period is not subject to Adjustment. First Interest Payment Date 2 February 2001 Initial Broken Amount(s) (per denomination) [ ] Fixed Interest Date preceding the Maturity Date [ ] Final Broken Amount(s) (per denomination) [ ] *** Floating Rate Notes 4

5 Interest Payment Dates Interest Commencement Date 2 February 2003 Specified Interest Payment Dates Specified Interest Period(s) 2 February 12 months Business Day Convention *** Modified Fallowing Business Day Convention FRN Convention (specify period(s) [ ] [months/ other-specify] *** Following Business Day Convention *** Preceding Business Day Convention Relevant Financial Centres Target Rate of Interest *** Screen Rate Determination D LIBOR (London time/london Business Day/City of London/ London Office/London Interbank Market) Screen page [ ] *** FIBOR (Frankfurt time/frankfurt Business Day/City of Frankfurt/ Frankfurt Office/Frankfurt Interbank Market) Screen page [ ] *** PIBOR (Paris time/paris Business Day/ City of Paris Paris Office/Paris Interbank Market) Screen page [ ] *** AIBOR (Amsterdam time/amsterdam Business Day/City of Amsterdam Amsterdam Office/Amsterdam Interbank Market) Screen page [ ] *** Other (specify) The amount of interest per Note in the denomination of Euro 10,000 will equal the denomination multiplied by the following percentage: 100% x 10 year CMS GBP Swap Rate provided that if this percentage is more than 9,10%, it shall be 5

6 deemed 9,10%. Where "10 year CMS GBP Swap Hate" means that the rate for an Interest Determination Date will be the annual swap rats for GBP denominated swap transactions with a maturity of ten years expressed as a percentage, which appears on the Telerate Page under the heading "MEAN" at 11:00 a.m. London time, on each Interest Determination Date. If such rate does not appear on the Telerate Page the Calculation Agent will request the principal London office of each of the Reference Banks to provide a quotation of its rate. The rate for that Interest Determination Date will be a percentage determined on the basis of the mid-market semi-annual swap rate quotations provided by the Reference Banks at approximately 11:00 a.m. London time on each Interest Determination Date and taking a simple average of the quotations, eliminating the highest quotation for, in the event of equality, one of the highest) and the lowest quotation (or, in the event of equality, one of the lowest). For this purpose, the mid-market semiannual swap rate means the mean of the bid and offered rate quotations for the semiannual fixed leg of a fixed-for-floating GBP denominated interest rate swap transaction with a term equal to 10 years commencing on that Interest Determination Date and in an equivalent amount of Euro 10,000,000 with an acknowledged dealer of good credit in the swap market where the floating leg is equivalent to GBP-LIB0R-BBA with a designated maturity of six months payable on an Actual/365 (fixed) day count basis and the semi-annual fixed leg payable on a Actual/365 (fixed) day count basis. If there are three or less than three quotations provided, simple average will be calculated using all quotations available. "GBP" shall mean Pounds Sterling. Screen page(s) Telerate Page Margin [ ] per cent. per annum plus minus Interest Determination Date 6

7 second London Business Day prior to commencement of Interest Period *** other (specify) On each previous Interest Payment Date for which the Business Days are TARGET and London Reference Banks (if other than as specified in 3(2)) (specify) "Reference Banks" means five leading swap dealers in the interbank market mutually agreed upon by the Issuer and the Calculation Agent ISDA Determination" Other Method of Determination (insert details (including Margin, Interest Determination Date, Reference Banks, fallback provisions)) [specify derails] [ ] Minimum and Maximum Rate of Interest Minimum Rate of Interest [ ] per cent. per annum *** Maximum Rate of Interest 9,10 per cent. per annum Zero Coupon Notes Accrual of Interest Amortisation Yield [ ] Dual Currency Notes (set forth details in full here (including exchange rate(s) or basis for calculating exchange rate(s) to determine principal and/or interest/fall-back provisions)) Partly Paid Notes (set forth details in full here (including amount of each instalment/ due dates for payment/consequences of failure to pay/interest rate)) Indexed Notes (set forth details in full here) Instalment Notes (set forth details in full here) [ ] [ ] [ ] [ ] ISDA Detarmination should only be applied in the case of Motes permanently represented by a Global Note because the ISDA Agreement and the ISDA Definition have to be attached to the relevant Notes. 7

8 Day Count Fraction" *** Actual/365 (Actual/Actual) *** Actual/365 (Fixad) *** Actual/360 *** 30/360 or 360/360 (Bond Basis) For the avoidance of doubt, each Interest period is not subject to adjustment 30E/360 (Eurobond Basis) PAYMENTS ( 4) Payment Business Day Relevant Financial Centre(s) (specify all) TARGET REDEMPTION ( 5) Final Redemption Notes other than Instalment Notes Maturity Date 2 February subject to adjustment in accordance with the following Business Day Convention Redemption Month [ ] Final Redemption Amount *** Principal amount *** Final Redemption Amount (per denominationl [ ] Instalment Notes Instalment Date(s) [ ] Instalment Amount(s) [ ] 8

9 Early Rademption Early Redemption at the Option of the Issuer No Minimum Redemption Amount [ ] Higher Redemption Amount [ ] Call Redemption Date(s) [ ] Call Redemption Amount (s) [ ] Minimum Notice to Holders [ ] Maximum Notice to Holders [ ] Early Redemption at the Option of a Holder" No Put Redemption Date(s) [ ] Put Redemption Amount(s) [ ] Minimum Notice to Issuer [ ]days Maximum Notice to Issuer (never more than 60 days) [ ]days Early Redemption Amount" Zero Coupon Notes: Reference Price [ ] 9

10 FISCAL AGENT LI IANDI PAYING AGENTS [AND CALCULATION AGENT] ( 6) Calculation Agent/specified office " CDC Marches 56, rue de Lille Paris Cedex 07 SP Required location of Calculation Agent (specify) [ ] Paying Agents D Additional Paying Agent(s)/specified office(s) [ ] FURTHER ISSUES, CONSOLIDATION, PURCHASES AND CANCELLATION ( [11])' Consolidation No NOTICES ( [12])" Place and medium of publication D London (Financial Times] *** Luxembourg (Luxemburgar Wort) Germany (Borsen-Zeitung) *** France ( ) *** Other (specify) Notices to Holders of the Notes pursuant to 3(5) and 12 will be deemed to be validly given by delivery of the relevant notice to the clearing system for communication by it to the Holders. GENERAL PROVISIONS APPLICABLE TO THE NOTE(S) Listing(s) Yes *** Luxembourg [ ] Paris [ ] *** Frankfurt am Main [ ] Other (insert details) [ ] Method of distribution *** Non-syndicated 10

11 -*** Syndicated Management Details Management Group (specify) CDC Marchés (sole) Commissions Management/Underwriting Commission (specify) [ ] Selling Concession (specify) [ ] Listing Commission (specify) [ ] Other (specify) [ ] Stabilising Dealer/Manager CDC Marches Securities Identification Numbers Common Code ISIN Code XS German Securities Code Any other securities number [ ] Supplemental Tax Disclosure (specify)" [ ] Selling Restrictions *** TEFRA C TEFRAC *** TEFRA D TEFBA D Neither TEFRA C nor TEFRA D Additional selling restrictions (specify) [ ] Rating A (Standard & Poor's Rating Services Supplemental at disclosure should be provided if the Notes would be classified as financialinnovbtions {Finonzinoovationen)under German tax law. 11

12 Other relevant terms and conditions (specify) [ ] In the case of Notes to be listed on the Paris Stock Exchange insert: (a) (b) (c) Number of Notes to be issued in each Specified Denomination: [ ] Sicovam number (or, in the case of Partly Paid Notes, Sicovam numbers): [ ] Name and specified office of any paying agent in France: [ ] (d) (i) Address in Paris where any relevant documents will be available for inspection: [ ] (iii) List of such documents: [ ] (e) (f) Specialist broker: a statement in French signed manually by a person duly authorised on behalf of the relevant Issuer and the relevant Dealer, or in the case of a syndicated issue of Notes, the relevant Lead Manger or other Paris listing agent accepting responsibility for the information contained in the Pricing Supplement, in the follow ing form: "PERSONNESOUTASSUMENT LA RESPONSABILITE DE LA NOTE D'INFORMATION COMPOSEE DE LA PRESENTE NOTE D'OPERATION [PRICING SUPPLEMENT) (DE LA NOTE D'INFORMATION AYANT RECU DE LA COB LE VISA NO. DU ET DU DOCUMENT DE BASE (INFORMATION MEMORANDUM) [1] Aunom de I'émetteur: A la connaissance de I'émeiteur, les données de la présente Note d'in formation sont conformes á la réalité et ne component pas d'omission de nature à en altérer la portée. Aucun élément nauveau (autres que ceux mentionnés dans la présente Note d'opération) intervenu depuis: le [ ] 1998, date du no. [ ] apposé par la Commission des Opérations de Bourse sur le document de base (Information Memorandum), (le [ ], date du visa no. [ ] appose par la Commission des Operations de Bourse sur la Note d'lnformation), n'est susceptible d'affecter de manière significative la situation financière de I'émeiteur dans le contexte de la présente émission. [Name of Issuer] [Name & title of signatory] 12

13 [2.] Au nam da garant: A la connaissance du garant, le données de la présente Note d'lnformation sont conformes à la ráalité at ne component pas d'omission de nature a en attérer la portée. Aucun élément nouveau (autres que ceux mentionnés dans la présente Mote d'operation) imervenu depuis: le [ ] 1998, date du no. [ ] appose par la Commission des Operations de Bourse sur le document de base (Information Memorandum), le [ ], date du visa no. [ ] appose par la Commission des Operations de Bourse sur la Note d'lntormation), n'est susceptible d'affetter de maniére significative la situation financiere du garant dans le tontexte de la présente émission. Westfälische Hypothekenbank Aktiengesellschaft [Name & title of signatory] [3.] Au nom de la banque prēsentatrice: A la connaissance de la banque, las données de (a présente Note d'lnformation sont conformes a la réalité et ne component pas d'omission de nature a en aftérer la portée. (Name of relevant Dealer/Lead Managerfothar Paris listing agent) [Name & title of signatory] (g) a statement to French in respect of the Pricing Supplement in the fallowing form: "La notice légale sera publiée au Bulletin des Annoces légales Obligators (BALD) du [date]. La presente Note d'lnformation ne peut pas étre distribute en France avant la date effective de cotation de I'emprunt a la Bourse de Paris et la publicité légale au BALO", and (h) the number allocated by the COB in respect of the Information Memorandum and visa number allocated to the Pricing Supplement in the following form: Listing:* "VISA DE LA COMMISSION DES OPERATIONS DE BOURSE" En vue de la location a Paris des obligations, et par application des articles 6 et 7 de 1'ordonnance no du 28 septembre 1967, la Commission des Operations de Bourse a enregistré le Document de Base sous le no. [ ] du [ ] 1998 et a apposé sur la presents "Note d'lnformation" le visa no. [ ] du [date]. The above Pricing Supplement comprises the details required to list this Issue of Notes pursuant to the listing of the Euro 10,000,000,000 WestHyp Debt Issuance Programme of Westfālische Hypothekenbank Aktiengeseitschaft and Westhyp Finance B.V. as from February 2,

14 Westfālische Hypothekenbank Aktiengesellschaft [Name & title of signatory] 14