BAYER AKTIENGESELLSCHAFT

Transcription

1 Second Supplement dated August 22, 2014 to the Debt Issuance Programme Prospectus dated March 19, 2014 This document constitutes a supplement (the Supplement) within the meaning of Article 16(1) of Directive 2003/71/EC of the European Parliament and of the Council of November 4, 2003, as amended (the Prospectus Directive) and should be read in conjunction with the four base prospectuses, as supplemented by the supplement dated May 21, 2014 (the First Supplement) for the purposes of Article 5(4) of the Prospectus Directive: (i) the base prospectus of Bayer Aktiengesellschaft in respect of nonequity securities within the meaning of Art. 22 No. 6 (4) of the Commission Regulation (EC) No. 809/2004 of April 29, 2004, as amended (Non-Equity Securities), (ii) the base prospectus of Bayer Capital Corporation B.V. in respect of Non-Equity Securities, (iii) the base prospectus of Bayer Holding Ltd. in respect of Non-Equity Securities and (iv) the base prospectus of Bayer Nordic SE in respect of Non-Equity Securities (together, the Prospectus). BAYER AKTIENGESELLSCHAFT (incorporated in the Federal Republic of Germany) as Issuer and as Guarantor for Notes issued by BAYER CAPITAL CORPORATION B.V. (incorporated in the Netherlands) BAYER HOLDING LTD. (incorporated in Japan) BAYER NORDIC SE (incorporated in Finland) 15,000,000,000 Programme for the Issuance of Debt Instruments Each Issuer has requested the Commission de Surveillance du Secteur Financier (the Commission) to provide the competent authorities in the Federal Republic of Germany, the United Kingdom of Great Britain and Northern Ireland, the Republic of Ireland and the Republic of Austria with a certificate of approval attesting that the Supplement has been drawn up in accordance with the Loi relative aux prospectus pour valeurs mobilières dated July 10, 2005, as amended (the Luxembourg Law) which transforms the Prospectus Directive into Luxembourg law (Notification). Each Issuer may request the Commission to provide competent authorities in additional host Member States within the European Economic Area with a Notification. This Supplement has been approved by the Commission, has been filed with said authority and will be published in electronic form (together with the documents incorporated by reference into this Supplement) on the website of the Luxembourg Stock Exchange (

2 Bayer Aktiengesellschaft (Bayer AG and together with its consolidated subsidiaries, the Bayer Group, Group or Bayer) with its registered office in Leverkusen, Bayer Capital Corporation B.V. (Bayer Capital Corp) with its registered office in Mijdrecht, Bayer Holding Ltd. (Bayer Holding Ltd.) with its registered office in Tokyo and Bayer Nordic SE (Bayer Nordic) with its registered office in Espoo (each an Issuer and together the Issuers) are solely responsible for the information given in this Supplement. The Issuers accept responsibility for the information contained in this Supplement. To the best of the knowledge of the Issuers (which have taken all reasonable care to ensure that such is the case) the information contained in this Supplement is in accordance with the facts and does not omit anything likely to affect the import of such information. Terms defined or otherwise attributed meanings in the Prospectus have the same meaning in this Supplement. This Supplement is prepared for the purposes of amending and supplementing the information contained in the Prospectus. It shall only be distributed in connection with the Prospectus. To the extent that there is any inconsistency between any statement in this Supplement and any other statement in or incorporated by reference in the Prospectus, the statements in this Supplement will prevail. Save as disclosed in this Supplement, there has been no other significant new factor, material mistake or inaccuracy relating to information included in the Prospectus which is capable of affecting the assessment of Notes issued under the Programme since the publication of the Prospectus. The Issuers have confirmed to the Dealers that the Prospectus as supplemented by this Supplement contains all information with regard to each Issuer and the Notes which is material in the context of the Programme and the issue and offering of Notes thereunder; that the information contained therein with respect to each Issuer and the Notes is accurate in all material respects and is not misleading; that any opinions and intentions expressed therein are honestly held and based on reasonable assumptions; that there are no other facts, the omission of which would make any statement, whether fact or opinion, in the Prospectus or this Supplement misleading in any material respect; and that all reasonable enquiries have been made to ascertain all facts and to verify the accuracy of all statements contained therein. No person has been authorised to give any information which is not contained in or not consistent with the Prospectus or this Supplement or any other information supplied in connection with the Programme and, if given or made, such information must not be relied upon as having been authorised by or on behalf of the Issuers or any of the Dealers. Neither the Arranger nor any Dealer nor any person mentioned in the Prospectus or this Supplement, excluding the Issuers, is responsible for the information contained in the Prospectus or this Supplement or any document incorporated therein by reference, and accordingly, and to the extent permitted by the laws of any relevant jurisdiction, none of these persons accepts any responsibility for the accuracy and completeness of the information contained in any of these documents. In accordance with Article 13 paragraph 2 of the law implementing the Prospectus Directive into Luxembourg Law (Loi relative aux prospectus pour valeurs mobilières), investors who have already agreed to purchase or subscribe for Notes before this Supplement is published have the right, exercisable within a time limit of two working days after the publication of this Supplement, until August 26, 2014, to withdraw their acceptances

3 Supplemental Information: 1. Changes relating to the Summary Section B Bayer AG a) Under Element B.12 (Selected historical key financial information) on page 4 of the Prospectus the following information shall be inserted at the beginning of the column: in million Euro Sales 21,013 20,626 Net income (a) 2,376 2,001 Net cash flow 1,764 1,863 Total assets 54,939 53,166 Equity 19,541 19,496 (a) Net income = Income (loss) after tax attributable to Bayer AG stockholders Information extracted, without material adjustment, from the unaudited reviewed condensed consolidated interim financial statements of the Bayer Group as of and for the six months ended June 30, b) Under Element B.12 (Significant changes in the financial or trading position) on page 4 of the Prospectus the information shall be replaced by the following: B.12 Significant change in the financial or trading position Other than the issuance by Bayer on July 1, 2014 of two hybrid bonds with a total volume of 3.25 billion, there has been no significant change in the financial or trading position of the Bayer Group since the publication of the unaudited reviewed condensed consolidated interim financial statements as of and for the six months ended June 30, c) Under Element B.13 (Recent developments) on page 4 of the Prospectus the following paragraph shall be inserted at the end of the column: On July 1, 2014, Bayer AG has issued two hybrid bonds with a total volume of 3.25 billion. 2. Changes relating to the Summary Section B Bayer Capital Corp a) Under Element B.12 (Selected historical key financial information) on page 6 of the Prospectus the following information shall be inserted at the beginning of the column: As of and for the six months ended June 30, 2014 six months ended June 30, 2013 year ended December 31, 2013 in thousand Euro Interest income 55,059 54,540 Income after taxes Net cash flow from operating activities 2,500 4,000 Total assets 2,480,272 2,451,324 Stockholder's equity 14,771 16,614 Information extracted, without material adjustment, from the unaudited unconsolidated interim financial statements of Bayer Capital Corp as of and for the six months ended June 30,

4 b) Under Element B.12 (Significant changes in the financial or trading position) on page 6 of the Prospectus the information shall be replaced by the following: B.12 Significant change in the financial or trading position There has been no significant change in the financial or trading position of Bayer Capital Corp since the publication of the unaudited unconsolidated interim financial statements as of and for the six months ended June 30, Changes relating to the Summary Section B Bayer Holding Ltd. a) Under Element B.12 (Selected historical key financial information) on page 8 of the Prospectus the following information shall be inserted at the beginning of the column: in million Yen Total revenue 12,662 12,680 Net income after taxes 9,532 9,602 Net cash flow from operating activities 8,435 8,253 Total assets 228, ,726 Total net assets 72,381 64,208 Information extracted, without material adjustment, from the unaudited unconsolidated interim financial statements of Bayer Holding Ltd. as of and for the six months ended June 30, b) Under Element B.12 (Significant changes in the financial or trading position) on page 8 of the Prospectus the information shall be replaced by the following: B.12 Significant change in the financial or trading position There has been no significant change in the financial or trading position of Bayer Holding Ltd. since the publication of the unaudited unconsolidated interim financial statements as of and for the six months ended June 30, Changes relating to the Summary Section B Bayer Nordic a) Under Element B.12 (Selected historical key financial information) on page 10 of the Prospectus the following information shall be inserted at the beginning of the column: in thousand Euro Total revenue 5,890 5,444 Net income (loss) after taxes 165,991 (37,821) Total assets 3,631,576 2,958,643 Stockholder's equity 1,205,567 1,072,700 Information extracted, without material adjustment, from the unaudited unconsolidated interim financial statements of Bayer Nordic as of and for the six months ended June 30,

5 b) Under Element B.12 (Significant changes in the financial or trading position) on page 10 of the Prospectus the information shall be replaced by the following: B.12 Significant change in the financial or trading position There has been no significant change in the financial or trading position of Bayer Nordic since the publication of the unaudited unconsolidated interim financial statements as of and for the six months ended June 30, Changes relating to the German Translation of the Summary Abschnitt B Bayer AG a) Under Element B.12 (Ausgewählte wesentliche historische Finanzinformationen) on page 22 of the Prospectus the following information shall be inserted at the beginning of the column: zum und für die sechs Monate endend am 30. Juni Juni 2013 in Millionen Euro Umsätze Konzernergebnis (a) Netto-Cashflow Summe Vermögenswerte Eigenkapital (a) Konzernergebnis = Ergebnis (Verlust) nach Steuern auf Aktionäre der Bayer AG zuzuschreiben Angaben aus dem nicht testierten prüferisch durchgesehenen konsolidierten verkürzten Konzernzwischenabschluss des Bayer-Konzerns zum und für die sechs Monate endend am 30. Juni 2014 ohne materielle Anpassung entnommen. b) Under Element B.12 (Signifikante Veränderungen in der Finanz- bzw. Handelsposition) on page 22 of the Prospectus the information shall be replaced by the following: B.12 Signifikante Veränderungen in der Finanz- bzw. Handelsposition Außer den zwei durch Bayer am 1. Juli 2014 emittierten Hybridanleihen im Nominalvolumen von insgesamt 3,25 Mrd hat es seit der Veröffentlichung des nicht testierten prüferisch durchgesehenen konsolidierten verkürzten Konzernzwischenabschlusses zum und für die sechs Monate endend am 30. Juni 2014 keine signifikanten Änderungen der Finanz- bzw. Handelsposition des Bayer-Konzerns gegeben. c) Under Element B.13 (Jüngste Entwicklungen) on page 22 of the Prospectus the following paragraph shall be inserted at the end of the column on page 23: Die Bayer AG hat am 1. Juli 2014 zwei Hybridanleihen im Nominalvolumen von insgesamt 3,25 Mrd emittiert

6 6. Changes relating to the German Translation of the Summary Abschnitt B Bayer Capital Corp a) Under Element B.12 (Ausgewählte wesentliche historische Finanzinformationen) on page 25 of the Prospectus the following information shall be inserted at the beginning of the column: zum und für die/das sechs Monate endend am 30. Juni 2014 sechs Monate endend am 30. Juni 2013 Jahr endend am 31. Dezember 2013 in Tausend Euro Zinseinkünfte Jahresgewinn nach Steuern Cash Flow aus laufender Geschäftstätigkeit Gesamtaktiva Eigenkapital Angaben aus dem nicht testierten nicht konsolidierten verkürzten Zwischenabschluss der Bayer Capital Corp zum und für die sechs Monate endend am 30. Juni 2014 ohne materielle Anpassung entnommen. b) Under Element B.12 (Signifikante Veränderungen in der Finanz- bzw. Handelsposition) on page 25 of the Prospectus the information shall be replaced by the following: B.12 Signifikante Veränderungen in der Finanz- bzw. Handelsposition Seit der Veröffentlichung des nicht testierten nicht konsolidierten Zwischenabschlusses zum und für die sechs Monate endend am 30. Juni 2014 hat es keine signifikanten Änderungen der Finanz- bzw. Handelsposition der Bayer Capital Corp gegeben. 7. Changes relating to the German Translation of the Summary Abschnitt B Bayer Holding Ltd. a) Under Element B.12 (Ausgewählte wesentliche historische Finanzinformationen) on page 27 of the Prospectus the following information shall be inserted at the beginning of the column: zum und für die sechs Monate endend am 30. Juni Juni 2013 in Millionen Yen Gesamtumsatz Reingewinn nach Steuern Cash Flow aus laufender Geschäftstätigkeit Gesamtaktiva Gesamtnettovermögen Angaben aus dem nicht testierten nicht konsolidierten verkürzten Zwischenabschluss der Bayer Holding Ltd. zum und für die sechs Monate endend am 30. Juni 2014 ohne materielle Anpassung entnommen. b) Under Element B.12 (Signifikante Veränderungen in der Finanz- bzw. Handelsposition) on page 27 of the Prospectus the information shall be replaced by the following: B.12 Signifikante Veränderungen in der Finanz- bzw. Handelsposition Seit der Veröffentlichung des nicht testierten nicht konsolidierten Zwischenabschlusses zum und für die sechs Monate endend am 30. Juni 2014 hat es keine signifikanten Änderungen der Finanz- bzw. Handelsposition der Bayer Holding Ltd. gegeben

7 8. Changes relating to the German Translation of the Summary Abschnitt B Bayer Nordic a) Under Element B.12 (Ausgewählte wesentliche historische Finanzinformationen) on page 29 of the Prospectus the following information shall be inserted at the beginning of the column: zum und für die sechs Monate endend am 30. Juni Juni 2013 in Tausend Euro Gesamtumsatz Reingewinn (Verlust) nach Steuern (37.821) Gesamtaktiva Eigenkapital Angaben aus dem nicht testierten nicht konsolidierten verkürzten Zwischenabschluss der Bayer Nordic zum und für die sechs Monate endend am 30. Juni 2014 ohne materielle Anpassung entnommen. b) Under Element B.12 (Signifikante Veränderungen in der Finanz- bzw. Handelsposition) on page 29 of the Prospectus the information shall be replaced by the following: B.12 Signifikante Veränderungen in der Finanz- bzw. Handelsposition Seit der Veröffentlichung des nicht testierten nicht konsolidierten Zwischenabschlusses zum und für die sechs Monate endend am 30. Juni 2014 hat es keine signifikanten Änderungen der Finanz- bzw. Handelsposition der Bayer Nordic gegeben. 9. Changes relating to the section Bayer AG a) The following information shall be inserted as first paragraph under the heading Selected Financial Information on page 160 of the Prospectus: The following unaudited reviewed financial information was extracted, without material adjustment, from the unaudited reviewed condensed consolidated interim financial statements of the Bayer Group as of and for the six months ended June 30, in million Euro Sales 21,013 20,626 Net income (a) 2,376 2,001 Net cash flow 1,764 1,863 Total assets 54,939 53,166 Equity 19,541 19,496 (a) Net income = Income (loss) after tax attributable to Bayer AG stockholders b) The paragraph under Financial Information concerning the Issuer's Assets and Liabilities, Financial Position and Profit and Losses on page 176 of the Prospectus shall be replaced by the following: The consolidated financial statements of the Bayer Group as of and for the fiscal years ended December 31, 2013 and 2012, as of and for the three months ended on March 31, 2014 and as of and for the six months ended on June 30, 2014 are incorporated by reference into this Prospectus. Selected financial information appears in section Selected Financial Information

8 c) The paragraph under Significant Change in the Issuers' financial or trading position on page 182 of the Prospectus shall be replaced by the following: Other than the issuance by Bayer of two hybrid bonds with a total volume of 3.25 billion, there has been no significant change in the financial or trading position of the Bayer Group since the publication of the unaudited reviewed condensed consolidated interim financial statements as of and for the six months ended June 30, Changes relating to the section Bayer Capital Corporation B.V. a) The following information shall be inserted as first paragraph under the heading Selected Financial Information on page 185 of the Prospectus: The following unaudited financial information was extracted, without material adjustment, from the unaudited unconsolidated interim financial statements of Bayer Capital Corp as of and for the six months ended June 30, As of and for the six months ended June 30, 2014 six months ended June 30, 2013 year ended December 31, 2013 in thousand Euro Interest income 55,059 54,540 Income after taxes Net cash flow from operating activities 2,500 4,000 Total assets 2,480,272 2,451,324 Stockholder's equity 14,771 16,614 b) The paragraph under Financial Information concerning the Issuer's Assets and Liabilities, Financial Position and Profit and Losses - Financial Statements on page 187 of the Prospectus shall be replaced by the following: The financial statements of Bayer Capital Corp as of and for the fiscal years ended December 31, 2012 and 2013, as of and for the three months ended on March 31, 2014 and as of and for the six months ended on June 30, 2014 are incorporated by reference into this Prospectus. Selected financial information appears in section Selected Financial Information. c) The paragraph under Significant Change in financial or trading position on page 187 of the Prospectus shall be replaced by the following: There has been no significant change in the financial or trading position of Bayer Capital Corp since the publication of the unaudited unconsolidated interim financial statements as of and for the six months ended June 30, Changes relating to the section Bayer Holding Ltd. a) The following information shall be inserted as first paragraph under the heading Selected Financial Information on page 188 of the Prospectus: The following unaudited financial information was extracted, without material adjustment, from the unaudited unconsolidated interim financial statements of Bayer Holding Ltd. as of and for the six months ended June 30, in million Yen Total revenue 12,662 12,680 Net income after taxes 9,532 9,602 Net cash flow from operating activities 8,435 8,253 Total assets 228, ,726 Total net assets 72,381 64,

9 b) The paragraph under Financial Information concerning the Issuer's Assets and Liabilities, Financial Position and Profit and Losses - Financial Statements on page 190 of the Prospectus shall be replaced by the following: The financial statements of Bayer Holding Ltd. as of and for the fiscal years ended December 31, 2012 and 2013, as of and for the three months ended on March 31, 2014 and as of and for the six months ended on June 30, 2014 are incorporated by reference into this Prospectus. Selected financial information appears in section Selected Financial Information. c) The paragraph under Significant Change in financial or trading position on page 190 of the Prospectus shall be replaced by the following: There has been no significant change in the financial or trading position of Bayer Holding Ltd. since the publication of the unaudited unconsolidated interim financial statements as of and for the six months ended June 30, Changes relating to the section Bayer Nordic SE a) The following information shall be inserted as first paragraph under the heading Selected Financial Information on page 192 of the Prospectus: The following unaudited financial information was extracted, without material adjustment, from the unaudited unconsolidated interim financial statements of Bayer Nordic as of and for the six months ended June 30, in thousand Euro Total revenue 5,890 5,444 Net income (loss) after taxes 165,991 (37,821) Total assets 3,631,576 2,958,643 Stockholder's equity 1,205,567 1,072,700 b) The paragraph under Financial Information concerning the Issuer's Assets and Liabilities, Financial Position and Profit and Losses - Financial Statements on page 194 of the Prospectus shall be replaced by the following: The financial statements of Bayer Nordic as of and for the fiscal years ended December 31, 2012 and 2013, as of and for the three months ended on March 31, 2014 and as of and for the six months ended on June 30, 2014 are incorporated by reference into this Prospectus. Selected financial information appears in section Selected Financial Information. c) The paragraph under Significant Change in financial or trading position on page 194 of the Prospectus shall be replaced by the following: There has been no significant change in the financial or trading position of Bayer Nordic since the publication of the unaudited unconsolidated interim financial statements as of and for the six months ended June 30,

10 13. Changes relating to the section General Information The following text shall be inserted on page 220 of the Prospectus after paragraph 13 of GENERAL INFORMATION - Incorporation by Reference: 14. The unaudited reviewed condensed consolidated interim financial statements of the Bayer Group as of and for the six months ended on June 30, 2014 (the Group Q2 Interim Report) consisting of Income Statements (page 37 of the Group Q2 Interim Report), Statements of Comprehensive Income (page 38 of the Group Q2 Interim Report), Statements of Financial Position (page 39 of the Group Q2 Interim Report), Statements of Cash Flows (page 40 of the Group Q2 Interim Report), Statements of Changes in Equity (page 41 of the Group Q2 Interim Report), Notes (pages of the Group Q2 Interim Report), Responsibility Statement (page 56 of the Group Q2 Interim Report) and Review Report (page 57 of the Group Q2 Interim Report). 15. The unaudited unconsolidated interim financial statements of Bayer Capital Corp as of and for the six months ended on June 30, 2014 (the BCC Q2 Interim Report) consisting of Balance Sheet (pages 3-4 of the BCC Q2 Interim Report), Profit and loss account (page 5 of the BCC Q2 Interim Report), Cash flow statement (pages 6-7 of the BCC Q2 Interim Report), Notes (pages 8-22 of the BCC Q2 Interim Report), and Responsibility Statement (page 25 of the BCC Q2 Interim Report). 16. The unaudited unconsolidated interim financial statements of Bayer Holding Ltd. as of and for the six months ended on June 30, 2014 (the BHL Q2 Interim Report) consisting of Balance Sheet (page 7 of the BHL Q2 Interim Report), Profit and Loss Statement (page 6 of the BHL Q2 Interim Report), Statement of Cash Flows (page 8 of the BHL Q2 Interim Report), Notes (pages 9-14 of the BHL Q2 Interim Report), and Responsibility Statement (page 15 of the BHL Q2 Interim Report). 17. The unaudited unconsolidated interim financial statements of Bayer Nordic as of and for the six months ended on June 30, 2014 (the BNSE Q2 Interim Report) consisting of Balance sheet (pages 4 of the BNSE Q2 Interim Report), Profit and loss statement (page 3 of the BNSE Q2 Interim Report), Notes (pages 5-9 of the BNSE Q2 Interim Report), and Responsibility Statement (page 10 of the BNSE Q2 Interim Report)

11 NAMES AND ADDRESSES Bayer Aktiengesellschaft Leverkusen Germany Telephone number: Bayer Holding Ltd , Marunouchi, Chiyaoda-ku, Tokyo Japan Telephone number: Bayer Capital Corporation B.V. Energieweg RT Mijdrecht The Netherlands Telephone number: and Bayer Nordic SE Keilaranta Espoo Finland Telephone number: FISCAL AGENT AND PAYING AGENT Deutsche Bank Aktiengesellschaft Taunusanlage Frankfurt am Main Germany