Supplement No 1 to Baseprospectus for mortgage bonds and mortgage-covered bonds issued by Realkredit Danmark A/S. 24 June 2015

Transcription

1 Supplement No 1 to Baseprospectus for mortgage bonds and mortgage-covered bonds issued by Supplement No 1 to Base prospectus for mortgage bonds and mortgage-covered bonds issued by 24 June MARCH 2016 TRANSLATION FROM DANISH THE DANISH VERSION PREVAILS CVR nr , København Page 1 af 7

2 Supplement No 1 to Baseprospectus for mortgage bonds and mortgage-covered bonds issued by In connection with the announcement of the Annual Report 2015 of Supplement No 1 to Base prospectus for mortgage bonds and mortgage-covered bonds issued by Realkredit Danmark A/S of 24 June 2015 is hereby announced. The base prospectus is amended as follows: Page 5, Summary, item B.12 is replaced by new item B.12: B.12 Significant changes in Realkredit Danmark A/S s financial or trading position Selected important historical financial information for Realkredit Danmark A/S extracted from the most recent annual report (DKKm): Year Net profit 3,890 3,056 2,612 2,454 1,874 Total assets 836, , , , ,560 Return on equity 8.1 % 6.5 % 5.6 % 5.4% 4.3% Cost/income ratio 12.5 % 13.5 % 14.7 % 15.9% 20.8% Total capital ratio 38.8 % 34.5 % 34.0 % 34.3% 35.8% Tier 1 capital 38.3 % 34.0 % 33.5 % 33.7% 35.4% Note: Return on equity = net profit for the year as % of average shareholders equity, cost/income ratio = costs as % of income and tier 1 capital = tier 1 capital ratio. At the date of this Base Prospectus, there has been no adverse material change in the prospects of since the date of its last published financial statements. There have been no significant changes in s financial or trading position of relevance to the pricing of the Bonds subsequent to the period covered by the historical financial information. Page 31, Registration document, item 3.1 is replaced by new item Selected financial information concerning for the most recent financial years is set out in the table below (in DKKm): Year Net profit 3,890 3,056 2,612 2,454 1,874 Total assets 836, , , , ,560 Return on equity 8.1 % 6.5 % 5.6 % 5.4% 4.3% Cost/income ratio 12.5 % 13.5 % 14.7 % 15.9% 20.8% Total capital ratio 38.8 % 34.5 % 34.0 % 34.3% 35.8% Tier 1 capital 38.3 % 34.0 % 33.5 % 33.7% 35.4% Note: Return on equity = net profit for the year as % of average shareholders equity, cost/income ratio = costs as a percentage of income and tier 1 capital = tier 1 capital ratio. Annual reports and financial statements are available at s website CVR nr , København Page 2 af 7

3 Supplement No 1 to Baseprospectus for mortgage bonds and mortgage-covered bonds issued by Page 36, Registration document, item 13.1 is replaced by new item 13.1 Audited financial information, including a balance sheet, an income statement, a cash flow statement and accounting policies as well as notes for the last two financial years is set out in the most recent annual reports of. See Appendix 1. The annual reports are audited by s auditors. The financial information referred to has been prepared in accordance with Financial Reporting standards, approved by the EU, and follows the accounting standards and policies that Realkredit Danmark A/S also expects to apply in its next annual report. Page 36, Registration document, item 13.2 is replaced by new item 13.2 s financial statements include both unconsolidated and consolidated financial statements. For further information, see the most recent annual report of. See Appendix 1. Page 36, Registration document, item is replaced by new item The historical financial information has been audited by s auditor. The audit report, which is unqualified, is included in the most recent annual reports of. See Appendix 1. Page 36, Registration document, item is replaced by new item s most recent audited financial information is from the most recent annual report. Page 36, Registration document, item 13.5 is deleted Deleted New appendix 1 and 3: As a consequence of the announcement of the Annual Report 2015 of Appendix 1: List of documents included in the base prospectus by reference and Appendix 3: Definitions is revised. The revised appendix 1 and appendix 3 is attached. Investors, who have agreed to purchase or subscribe for bonds prior to the announcement of this supplement, have the right to withdraw their acceptance within a period of at least two business days after publication of the supplement on 11 March 2016, pursuant to art. 16(2) of the Prospectus Directive and relevant Danish law. CVR nr , København Page 3 af 7

4 Supplement No 1 to Baseprospectus for mortgage bonds and mortgage-covered bonds issued by Statement by management The Executive Board today reviewed and approved this Supplement to the Base Prospectus for mortgage bonds and mortgage-covered bonds issued by of 24 June 2015 in pursuance of the Board of Director s authority to the Executive Board as of May 27, We, the members of the Executive Board of, hereby declare that, to the best of our knowledge and belief, the information contained in the prospectus (the registration document, the securities note, the supplements and appendix) is in accordance with the facts and does not omit anything likely to affect the import of such information, and that all relevant information contained in the minutes of the Board of Directors, long-form audit reports and any other internal documents is contained herein. The company s Executive Board hereby declare that there are no potential conflicts of interest between the company s Board of Directors and the Executive Board, between the obligations that the members of the Board of Directors and the Executive Board of have in respect of and their private interests and/or other obligations. Copenhagen, 11 March 2016 The Executive Board Carsten Nøddebo Rasmussen Chief Executive Officer Henrik Blavnsfeldt Senior Vice President Under powers of procuration CVR nr , København Page 4 af 7

5 Supplement No 1 to Baseprospectus for mortgage bonds and mortgage-covered bonds issued by New Appendix 1: List of documents incorporated in the base prospectus by reference Documents to which reference is made in the base prospectus Last published historical financial information Last published financial information Type of document Date of publication 3 February February February 2016 Where in the base prospectus is the reference? Registration document Page 30, item 1.1 Page 31, item 3.1 Page 33, item Page 33, item Page 33, item Page 34, item 8.1 Page 34, item 8.2 Page 34, item 10.1 Page 35, item 11.1 Page 36, item 13.1 Document Where in the document is the reference? Auditors report, Page 60 Directorships, Page 61 Financial highlights, Page 2 Financial highlights, Page 2 Directorships, Page 61 Organisation and management, Page 16 The full Annual Report 2014: Management s report, Pages 3-4 Statement and reports, Pages CVR nr , København Page 5 af 7

6 Supplement No 1 to Baseprospectus for mortgage bonds and mortgage-covered bonds issued by Where in the base prospectus is the reference? Page 36, item 13.2 Page 36, item Document Where in the document is the reference? Financial statements, Pages Notes, Pages The full Annual Report 2015: Management s report, Pages 3-5 Statement and reports, Pages Financial statements, Pages Notes, Pages Accounting policies, Pages Auditors report, Page 58 Auditors report, Page 60 Page 36, item Annual Report 2011, 2012, 2013, 2014 and 2015 for Page 36, item Page 37, item 13.7 Page 37, item Page 37, item 17 Balance sheet and statement of capital, Pages CVR nr , København Page 6 af 7

7 Supplement No 1 to Baseprospectus for mortgage bonds and mortgage-covered bonds issued by New Appendix 3: Definitions The terms and expressions listed below will have the following meaning when used in this Base Prospectus: Base Prospectus refers to this base prospectus dated 24 June 2015 RO refers to mortgage bonds SDRO refers to mortgage-covered bonds Bonds refer to any type of security issued under the Base Prospectus, i.e. SDRO and RO bonds Final Terms refer to the final terms under which the specific Bonds are issued Bondholder refers to the investors who own the Bonds Most recent annual report refers to Annual Report 2015 of Most recent annual reports refer to Annual Report 2014 of and Annual Report 2015 of CVR nr , København Page 7 af 7