COREALCREDIT BANK AG

Foreign Currency Notes
A holder of Notes denominated in a foreign currency and a holder of Dual Currency Notes is
exposed to the risk of changes in currency exchange rates which may affect the yield of such
Notes.
Notes containing Early Redemption Rights of the Issuer
If the Issuer has the right to redeem the Notes prior to maturity or if the Notes are redeemed prior
to maturity due to the occurrence of an event set out in the Terms and Conditions of the Notes, a
holder of such Notes is exposed to the risk that due to early redemption his investment will have a
lower than expected yield. Also, the holder may only be able to reinvest on less favourable
conditions as compared to the original investment.
Additional Risk Factors relating to Pfandbriefe
The Terms and Conditions of the Notes which apply to Pfandbriefe will not contain any events of
default and will not be issued with the benefit of an investor put option. Furthermore, in the event
of the imposition of a withholding or deduction by way of tax on interest payments under the
Pfandbriefe, no additional amounts will be paid to investors so that investors will receive interest
payments net of such withholding or deduction.
Additional Risk Factors relating to Notes
If the Final Terms provide for amendments of the Conditions by the Issuer with consent of the
Holders by way of a majority resolution in a Holders meeting or a vote not requiring a physical
meeting (Abstimmung ohne Versammlung) as described in Sections 5 et seq. German Act on
Issues of Debt Securities (Gesetz über Schuldverschreibungen aus Gesamtemissionen,
"SchVG"), a Holder is subject to the risk of being outvoted by a majority resolution of the Holders.
As such majority resolution is binding on all holders of the relevant series of Notes, certain rights of
such Holder against the Issuer under the Conditions may be amended or reduced or even
cancelled, which may have significant negative effects on the value of the Notes and the return
from the Notes.
If the Final Terms provide for the appointment of a Holders' joint representative a Holder may be
deprived of its individual right to pursue and enforce a part or all of its rights under the Conditions
against the Issuer, such right passing to the Holders' joint representative who is then exclusively
responsible to claim and enforce the relevant rights of all Holders of such particular series of
Notes.
Additional Risk Factors relating to Structured Notes
An investment in Notes, the premium and/or the interest on or principal of which is determined by
reference to one or more values of shares, equity indices, currencies, commodities, interest rates
or other indices or formulae, either directly or inversely, may entail significant risks not associated
with investments in a conventional debt security, including the risks that the resulting interest rate
will be less than that payable on a conventional debt security at the same time and/or that an
investor could lose all or a substantial portion of the principal of its Notes.
Risks in Connection with Caps
The yield of Notes with a cap can be considerably lower than that of similar structured Notes
without a cap.
Risk of Potential Conflicts of Interest in Case of an Underlying
It cannot be ruled out that decisions made by the Issuer and/or the relevant Dealer(s) made in
other independent business areas may have a negative impact on the value of an underlying.
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