Published: 2020-03-16 13:00:00 CET
Company Announcement No 24, 2020 - Supplement no. 1 to Base Prospectus
As part of Nordea Kredit Realkreditaktieselskab (“Nordea Kredit”) and the Nordea
Group’s continuous high focus on obtaining relevant ratings for funding
programmes and issuances, a review has been performed of all rating agreements
in the Nordea Group. In order to be cost-efficient Nordea Kredit has decided to
only solicit one rating of its programme for mortgage bonds (ROs) and covered
mortgage bonds (SDROs) (the “Programme”), which currently has ratings from both
Moody’s Investors Service Ltd. (“Moody’s”) and Standard & Poor’s Credit Market
Services Europe Ltd (“S&P”).

With effect from 1 April 2020 Nordea Kredit will solicit ratings of the
Programme and bonds issued under it from S&P only.

Nordea Kredit will discontinue to solicit ratings from Moody’s of the Programme
and bonds issued under it.

Bonds and covered mortgage bonds issued under the Programme and rated by S&P are
currently assigned a rating of AAA.

To reflect this change, Nordea Kredit hereby publishes supplement no. 1 to
Nordea Kredit’s base prospectus dated 24 February 2020 as well as updated final
terms showing the S&P rating only.

Nordea Bank Abp will continue to be rated by Fitch (AA-), Moody’s (Aa3) and S&P

Any questions can be directed to Kamilla Hammerich Skytte, phone (+45) 55 47 04
85 or Andreas Larsson (+46) 709 707555 or Maria Caneman (+46) 768 249218.

Kind regards

Nordea Kredit Realkreditaktieselskab

Final terms - Fixed Rate Callable - covered mortgage bonds.pdf
Final terms - Fixed Rate Non-callables - covered mortgage bonds.pdf
Final Terms - Variable interest rate - covered mortgage bonds.pdf