28 January Feb-16 COMMERZBANK EQUITY RISK PREMIA 3% VT INDEX and to the Currency: USD

Transcription

1 Equity & Credit Linked Note on FIAT CHRYSLER NV USD, 3 Years, Return linked to the performance of COMMERZBANK EQUITY RISK PREMIA 3% VT INDEX INDICATIVE PRODUCT SUMMARY FOR THE INFORMATION OF PROFESSIONAL INVESTORS ONLY Description Product Information 13 January 2016 Payment date: The investor acquires a Note linked to the performance of the Issuer: Commerzbank AG Strike Date: 28 January Feb-16 COMMERZBANK EQUITY RISK PREMIA 3% VT INDEX and to the Currency: USD Payment Date: 11 February 2016 risk of FIAT CHRYSLER NV Maturity: 3 Years Valuation Date: 20 December 2018 Redemption date: 03 January 2019 Particularities: Credit Event: Please refer to Term Sheet At Maturity: On the 03 January 2019 Credit Linked Underlying FIAT CHRYSLER NV a) If no credit event has occurred on FIAT CHRYSLER NV Coupon Related Underlying BBG Ticker The note redeems at 100% of the denomination plus a value equivalent to the positive performance of the coupon related underlying from the strike date COMMERZBANK EQUITY RISK PREMIA 3% VT INDEX CBKIERP3 INDEX Description: The Commerzbank Europe Equity Risk Premia Index is a systematic long-short index that is composed of a risk-weighted combination of MSCI European factor indices and their relevant benchmark. Annualised volatility is capped at 3%. b) If a credit event has occurred on FIAT CHRYSLER NV The note redeems at a Final Adjusted Redemption Amount, paid in cash Advantages: - The investment in not at risk if no Credit Event occurs on FIAT CHRYSLER NV - A potential return linked to the peformance to Commerzbank Equity Risk Premia 3% VT Index Disadvantages: - The investment is at risk if a Credit Event occurs on FIAT CHRYSLER NV - The return on the underlying is not guaranteed Product Identification ISIN: XS EU Savings Tax: Out of scope / code 7 Valoren: WKN: TBD CB0G1K Option Premium Component: n/a Reuter/Bloomberg: Interest Component: n/a 110% At Maturity Redemption: If no credit event has occurred 100% 100% of the deomination plus the positive performance of the underlying 90% If a credit event has occurred the Final Adjusted Redemption Amount 80% Feb-15 Apr-15 Jun-15 Aug-15 Oct-15 Dec-15 CBKIERP3 INDEX Source: Bloomberg Risk Disclosure Production and distribution costs are included in the price provided by Commerzbank. The conditions described above are subject to the credit worthiness and solvency of Commerzbank AG. This is a summary of key features of the note. Please ensure you read the attached Terms, Selling Restrictions and Disclaimer. Commodity / Equity / Index London: Zurich: Frankfurt: Paris: Dubai:

2 This Term Sheet must be read in conjunction with the master Terms and Conditions as set out in the Equity and Non- Equity Credit Linked Notes / Non-Equity Credit Linked Certificates Programme (the Programme ) dated 22 September 2015 starting from page 75. The Programme - together with the registration document dated 27 October 2015 of Commerzbank AG as supplemented from time to time - constitutes an information memorandum (the Information Memorandum ) which has been accepted as the listing prospectus according to the rules and regulations of the Luxembourg Stock Exchange and Part IV to the Luxembourg law dated 10 July 2005 on Prospectuses for Securities, as amended. The Programme does not constitute a prospectus for the purposes of Article 5.4 of the Prospectus Directive. For each issue of Notes under the Programme, the final terms (the Final Terms ) will be published in a separate document. The complete information on a specific issue of Notes will always result from the Information Memorandum (including any supplements thereto) in combination with the relevant Final Terms. This Term Sheet describes Interest Structured Notes that are linked to the credit risk of Fiat Chrysler Automobiles NV (the Notes ). If a Credit Event occurs with respect to Fiat Chrysler Automobiles NV then the Issuer will redeem the Notes by payment of the Final Adjusted Redemption Amount on the Cash Settlement Date. If no Credit Event occurs, the Notes will be redeemed at par on the Scheduled Redemption Date. The Notes also bear interest linked to CBKIRPE3 Index. With receipt of the Final Adjusted Redemption Amount on the Cash Settlement Date or the Final Redemption Amount on the Scheduled Redemption Date, as the case may be, the Noteholders do not have any further claims under the Notes against the Issuer. General Terms Issuer: Note Type: Issue Currency: Aggregate Principal Amount: Issue Price: Commerzbank AG ( Commerzbank ) Standard Credit Linked Note USD USD 4,350, per cent. of the Denomination Denomination: USD 50,000 Trade Date: 28 January 2016 Issue Date: 11 February 2016 Scheduled Redemption Date: Final Redemption Amount per Denomination: 03 January % of the Denomination on the Scheduled Redemption Date, subject as otherwise provided in the Terms and Conditions. Structured Coupon Structured Coupon: Index At the Scheduled Redemption Date, the Issuer shall pay a coupon per Denomination as follows, subject as otherwise provided in the Terms and Conditions: Index Deno min ation Max( Index 1 0 1; 0) The Commerzbank Europe Equity Risk Premia 3% RC ER Index (Bloomberg CBKIRPE3 Index)

3 Index k The Reference Price of the Index on Valuation Date(k) k from 0 to 1 Valuation Date(0) or Strike Date Valuation Date(1) or Final Valuation Date Trade Date 20 December 2018 Credit linked Provisions Credit Protection Start Date: Scheduled Credit Protection End Date: Settlement Type: Auction Settlement: First-to-Default: 29 January December 2018 European Reference Entity: Reference Obligation: Non-Standard Reference Obligation: Credit Event Definitions: Notice of Publicly Available Information: Accrual of Interest: Fiat Chrysler Automobiles NV Standard Reference Obligation XS see Schedule A Additional Terms Payment Business Day: Calculation Agent: Clearing System: Governing Law: London & New York Commerzbank Clearstream / Euroclear German

4 Secondary Market: ISIN Code: WKN Code: Series Number: Listing: TEFRA Rule: Selling Restrictions: Under normal market conditions, Commerzbank AG may ensure a secondary market during the life of the Notes. For the avoidance of doubt, no secondary market will be ensured by Commerzbank on and after an Event Determination Date. XS CB0G1K AP84 None TEFRA D As set out in the Programme Contact: Giancarlo Fragomeno

5 Schedule A Reference Entity: Financial Reference Entity: Subordinated European Insurance Terms: Sovereign Asset Package Delivery: Credit Event Notice Trigger: Credit Events: All Guarantees: Obligation Category: Obligation Characteristics: Fiat Chrysler Automobiles NV Event Determination Date Bankruptcy: Failure to pay: Grace Period Extension: Payment Requirement: USD 1,000,000 or its equivalent in the Obligation Currency Obligation Acceleration: Obligation Default: Repudiation/Moratorium: Restructuring: Multiple Holder Obligation: Restructuring Maturity Limitation and Fully Transferrable Obligation (Mod R): Not Modified Restructuring Maturity Limitation and Conditionally Transferrable Obligation (Mod Mod R): Default Requirement: USD 10,000,000 or its equivalent in the Obligation Currency Government Intervention: Borrowed Money None

6 Disclaimer This term sheet has been prepared by Commerzbank Corporates & Markets, which is the trading and investment banking division of Commerzbank Aktiengesellschaft ( Commerzbank ). This term sheet is for discussion purposes only, and all matters arising from it will be governed by English law unless expressly agreed otherwise. It should not be construed as a solicitation, offer or commitment by Commerzbank or any of its affiliates to enter into a transaction, nor does it attempt to describe all the relevant terms of the transaction referred to in it. Instead, it is intended to outline certain basic points of business understanding around which a transaction could be structured. Since any terms quoted are indicative they are subject to change at any time without notice. Numerous assumptions have been made in the preparation of this term sheet and no assurance can be given as to its accuracy and/or completeness. Any subsequent offer by Commerzbank or any of its affiliates to enter into a transaction will be made on the terms, and will be subject to the conditions, specified by it. If a transaction is entered into, its terms will be found entirely in the final documentation; this term sheet may not be used to construe such terms and will be superseded in its entirety by the final documentation to the exclusion of all prior written and oral communications. This term sheet should not, therefore, be regarded as containing any representations concerning the content of such terms or any other matter. Accordingly neither Commerzbank nor any of its affiliates assumes any responsibility for the contents of this term sheet, or for any written or oral communications in connection with it (or any prospective transaction), regardless of any negligence on their part. This does not, however, exclude any liability that may arise under the Financial Services and Markets Act Recipients of this term sheet should undertake an independent review of the legal, tax, regulatory and accounting implications of the transaction referred to in it in order to determine the suitability of the transaction described in this term sheet in the light of their particular objectives. Commerzbank may have arranged to pay an introducing fee or other remuneration to a third party in relation to this transaction or service provided to you. Details of third party and amount paid will be made available on request by Professional clients of Commerzbank (Mifid classification). Commerzbank (or any affiliate which offers to enter to a transaction) is solely an arm s length contractual counterparty. It is not acting as an adviser or fiduciary, and neither this term sheet nor any communications from it should be treated as constituting financial, investment or other advice of any kind, or as a recommendation to enter into any transaction. No employee or agent of Commerzbank or any of its affiliates has authority to give any advice or (except as expressly set out in the final documentation for any transaction) make any representations on its behalf in connection with this term sheet or any prospective transaction. Commerzbank and its affiliates may have material interests that conflict with the interests of the recipient of this term sheet. For example, they may be dealing as a principal in any investments which are the subject of the transaction referred to in it and may have a long or short position in connection with such dealing. They may also be providing services to other persons in connection with these investments, may be acting as an underwriter in respect of them and/or may be acting as financial adviser or lending banker to the issuer of them. In connection with these activities, they may hold material information but will be under no obligation to take it into account or make it available to any person. This document is not for distribution to retail customers and has been issued or approved for issue in the United Kingdom by Commerzbank AG, London Branch, which is authorised by the German Federal Financial Authority and the European Central Bank, and is authorised and subject to limited regulation by the Financial Conduct Authority and Prudential Regulation Authority. Details about the extent of our regulation by the Financial Conduct Authority and Prudential Regulation Authority are available from us on request. The requirements for a public offer in any member state of the European Economic Area ("EEA") (the "EEA Member States") are not fulfilled. Consequently, the securities may not be publicly offered in any of the EEA Member States except as explicitly provided under the prospectus exemptions of Directive 2003/71/EC (as amended by Directive 2010/73/EU, to the extent implemented in a relevant EEA Member State ("2010 Amending Directive"), the "EU Directive") with respect to inter alia (i) an offer of securities addressed solely to qualified investors as defined in the EU Directive, and/or (ii) an offer of securities addressed to fewer than 100, or, if the Relevant Member State has implemented the relevant provisions of the 2010 Amending Directive, 150 natural or legal persons per Member State other than qualified investors, and/or (iii) an offer of securities addressed to investors who acquire securities for a total consideration of at least EUR 50,000, or, if the Relevant Member State has implemented the relevant provisions of the 2010 Amending Directive, EUR 100,000, and/or (iv) an offer of securities whose denomination per unit amounts to at least EUR 50,000 or, if the Relevant Member State has implemented the relevant provisions of the 2010 Amending Directive, EUR 100,000. In a country outside of the EEA, the Securities may only be publicly offered, sold or delivered within or from the jurisdiction of such country, provided that this is in accordance with the applicable laws and other legal provisions, and provided further that the Issuer does not incur any obligations. The Issuer has not undertaken any steps, nor will the Issuer undertake any steps, aimed at making the public offering of the Securities or their possession or the marketing of offering documents related to the securities legal in such jurisdiction if this requires special measures to be taken. Switzerland: The securities as described in this Term Sheet (the "Securities") do not constitute a participation in any collective investment scheme in the meaning of the Swiss Federal Act on Collective Investment Schemes (the "CISA"). Accordingly, neither the Securities nor holders of the Securities benefit from protection under the Swiss Federal Act on Collective Investment Schemes or supervision by the Swiss Federal Banking Commission. The Securities may not be publicly offered, sold or advertised, directly or indirectly, in or from Switzerland. Neither this Term Sheet nor any other offering or marketing material relating to the Securities constitutes an offering prospectus, as that term is understood pursuant to article 652a or 1156 of the Swiss Federal Code of Obligations or a simplified prospectus, as that term is understood pursuant to article 5 of the CISA, and neither this Term Sheet or any information contained herein nor any other offering or marketing material relating to the Securities may be publicly distributed or otherwise made publicly available in or from Switzerland in connection with the offering, sale or advertisement of the Securities. The Securities may only be offered, sold or advertised, and this Term Sheet and any information contained herein as well as any other offering or marketing material relating to the Securities may only be distributed or otherwise made available without any public promotion in or from Switzerland, as such term is understood pursuant to the CISA, on a private placement basis. The Purchaser of the Securities represents and agrees that he has not made and will not make an offer of these Securities to the public in Switzerland nor from Switzerland and he has complied and will comply with the above restrictions and all applicable offering regulations in Switzerland. Outside of Switzerland, the Securities may only be publicly offered, sold or delivered within or from the foreign jurisdiction, provided that the offering, selling and delivery of the Securities is in accordance with the applicable laws and other legal provisions of such foreign jurisdiction. The Issuer has not undertaken any steps, nor will the Issuer undertake any steps, aimed at making the public offering, selling or delivery of the Securities or their possession or the marketing of offering documents related to the Securities legal in such foreign jurisdiction if special measures are required to be taken under the applicable law of such foreign jurisdiction. United States: This security described herein will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Any transaction by U.S. persons must be effected with Commerzbank Capital Markets Corp. ( CCMC ), a U.S. registered broker-dealer and a member of NASD and SIPC. The U.S. Federal income tax consequences of certain investments are uncertain as there is no legal authority as to their proper characterization for U.S. Federal income tax purposes. Prospective investors should consult their tax advisors as to the Federal, state, local and other tax consequences to the purchase, ownership and disposition of investment products. Copyright Commerzbank All rights reserved.