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UNDERSTANDING Sanpaolo LAUNCHES A BENCHMARK OF ISSUE BONDS GUARANTEED FOR 12 YEARS FOR MORTGAGE BACKED BY EUR 1.25 BILLION

January 31, 2014

ENP Newswire - 31 January 2014 Release date- 29012014 - Intesa Sanpaolo has launched an issue of Bonds (OBG) to EUR 1.25 billion allocated to institutional markets. This is a fixed rate Covered Bonds issued 12 years out of the program for the issue of EUR 20 billion attended mostly by residential and commercial mortgage loans originated by Intesa Sanpaolo . The coupon of 3.25% is payable in arrears on February 10 of each year. The re-offer price was set at 99.892%. Given the re-offer price, the yield to maturity is 3.261% per annum. The total spread for the investor is equal to the mid-swap rate + 108 basis points, 73 basis points below the BTP with the same maturity. The settlement date will be February 10, 2014 . Minimum denomination of the issue is Euro 100 thousand and multiples. The title is not for the retail market but for professional investors and financial intermediaries, and will be listed on the Luxembourg Stock Exchange , as usual, the market 'Over-the-Counter'. The leader in charge of the distribution of the title are Banca IMI, Barclays , HSBC , Societe Generale Corporate & Investment Banking and UniCredit . This communication does not constitute an offer or invitation to subscribe for or purchase any securities. The securities have not been and will not be registered under the 'United States Securities Act of 1933 (as amended) (the ' Securities Act '). The securities may not be offered, sold or delivered within the United States or to U.S. persons (as defined in Regulation S under the Securities Act) as part of their initial offer. The securities may be initially offered and sold only outside the United States in reliance on Regulation S under the Securities Act and may be resold only in accordance with applicable laws. Copies of this announcement are not being made ??and may not be distributed or sent into the United States , Canada , Australia or Japan . This communication is being distributed and directed only at (i) persons outside the United Kingdom or (ii) persons who are investment professionals within the meaning of Article 19 (5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the ''Order') and (iii) those 'high net worth entities' and other persons to whom it may lawfully be communicated, falling within Article 49 (2) sub-paragraphs (a) to (d) of' Order (all such persons together being referred to as 'relevant persons'). Any investment activity to which this communication relates will only be available to and will only to relevant persons. Persons who are not relevant persons should not act or rely on this document or any of its contents . Investor Relations +39.02.87943180 investor.relations @ intesasanpaolo.com Media Relations +39.02.87963531 stampa@intesasanpaolo.com group.intesasanpaolo.com


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Source: ENP Newswire


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