Swedbank A

Capital/Financing Update • Jan 23, 2013

SWEDBANK AB (publ)

Issue of

Issue of EUR 25,000,000 Floating Rate Notes due January 2018 (the "Notes")

under the U.S.\$40,000,000,000 Global Medium Term Note Programme

PART A - CONTRACTUAL TERMS

Terms used herein shall be deemed to be defined as such for the purposes of the Conditions set forth in the Prospectus dated 15 May 2012 (the "Prospectus") and the supplementary prospectus dated 18 July 2012 and 23 October 2012 which together constitute a base prospectus for the purposes of Directive 2003/71/EC (the "Prospectus Directive"). This document constitutes the Final Terms of the Notes described herein for the purposes of Article 5.4 of the Prospectus Directive and must be read in conjunction with the Prospectus as so supplemented. Full information on the Issuer and the offer of the Notes is only available on the basis of the combination of these Final Terms and the Prospectus as so supplemented. The Prospectus and the supplementary prospectus are available for viewing at Swedbank AB (publ), Regeringsgatan 13, SE-105 34 Stockholm, Sweden and www.swedbank.se and copies may be obtained from Swedbank AB (publ), Regeringsgatan 13, SE-105 34 Stockholm, Sweden

1.	Issuer:		Swedbank AB (publ)
2.	(i)	Series Number.	GMTN 210
	(ii)	Tranche Number:	l
3.		Specified Currency or Currencies:	Euro ("EUR")
4.	Aggregate Nominal Amount:
	(i)	Series:	EUR 25,000,000
	(ii)	Tranche:	EUR 25,000,000
5.	Issue Price:		99.95045 per cent of the Aggregate Nominal Amount
6.	(i)	Specified Denomination (s):	EUR 100,000
	(ii)	Calculation Amount:	EUR 100,000
7.	(i)	Issue Date:	23 January 2013
	(ii)	Interest Commencement Date:	23 January 2013
8.	Maturity Date:		Interest Payment Date falling in or nearest to January 2018

9.	Interest Basis:		3 Month EURIBOR $+$ 0,65 per cent. Floating Rate
			(further particulars specified below)
10.		Redemption/Payment Basis:	Redemption at par
11.	Change	of Interest Basis or Redemption/ Payment Basis:	Not Applicable
12.		Put/Call Options:	Not Applicable
13.		Status of the Notes:	Unsubordinated - Condition $3(a)$ will apply
14.		Method of distribution:	Non-syndicated
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
15.	Fixed Rate Note Provisions:		Not Applicable
16.	Floating Rate Note Provisions: (i) Specified Period(s)/Specified Interest Payment Dates:		Applicable
			Quarterly in arrear on each 23 April, 23 July, 23 October and 23 January, commencing on 23 April 2013 and ending on the Maturity Date
	(ii)	Business Day Convention:	Modified Following Business Day Convention
	(iii) Business Centre(s):		TARGET2
	(iv)	Manner in which the Rate(s) is/are of Interest be to determined:	Screen Rate Determination
	(v)	Party responsible calculating the Rate(s) of Interest and Interest $($ if Amount(s) the not Principal Paying Agent):	for Not Applicable

$(vi)$ Applicable Screen Rate Determination:

$\frac{1}{2}$

Reference Rate: $\equiv$ 3 Month EURIBOR

• Interest $\equiv$ Second day on which the TARGET2 System Determination is open prior to the start of each Interest Date(s): Period
• Relevant Screen $\equiv$ Reuters EURIBOR01 Page:
• Not Applicable $(vii)$ ISDA Determination:

	(viii)	$Margin(s)$ :	$+0,65$ per cent per annum
	(ix)	Minimum Rate of Interest:	Not Applicable
	(x)	Maximum Rate of Interest:	Not Applicable
	(x i )	Day Count Fraction:	Actual/360 adjusted
	(xii)	Fail back provisions, provisions, rounding denominator and any other terms relating to the method of calculating interest on Floating Rate Notes, if different from those set out in the Conditions:	Not Applicable
17.	Zero Coupon Note Provisions: Not Applicable
18.	Index-Linked Interest Note/other Not Applicable variable-linked interest Note Provisions:
19.	Dual Provisions:	Currency Interest Note	Not Applicable
PROVISIONS RELATING TO REDEMPTION

20. Issuer Call: Not Applicable $21.$ Investor Put: Not Applicable

• $22.$ Final Redemption Amount:
• 1. Early Redemption Amount:

	Early Redemption Amount(s) As set forth in the Condition 6(ii)
payable on redemption for taxation
reasons or on Event of Default or
other early redemption and/or the
method of calculating the same (if
required or if different from that set
out in Condition $5(e)$ :

GENERAL PROVISIONS APPLICABLE TO THE NOTES

• 1. Form of Notes:
• Bearer Notes: $(i)$ Form:

Temporary Global Note exchangeable for a Permanent Global Note which is exchangeable for Definitive Bearer Notes only upon an Exchange Event

EUR 100,000 per Calculation Amount

	(ii)	New Global Note:	Yes
25.		Financial Centre(s) or other special provisions relating to Payment Days:	Not Applicable
26.	Talons	for future Coupons or Receipts to be attached to Definitive Notes (and dates on which such Talons mature):	N 0
27.		Details relating to Partly Paid Notes: amount of each payment comprising the Issue Price and date on which each payment is to be made [and consequences (if any) of failure to pay, including any right of the Issuer to forfeit the Notes and interest due on late payment]:	Not Applicable
28.		Details relating to Instalment Notes:
	(i)	Instalment Amount(s):	Not Applicable
	(ii)	Instalment Date(s):	Not Applicable
29.		Redenomination, renominalisation and reconventioning provisions:	Not Applicable
30.		Consolidation provisions:	Not Applicable
31.		Additional U.S. Federal Income Tax Considerations:	Not Applicable
32.		Other final terms:	Not Applicable
	DISTRIBUTION
33.	(i)	If syndicated, names and Not Applicable addresses of Managers and underwriting commitments:
	(ii)	Date of Agreement:	Subscription Not Applicable
	(iii)	Stabilising Manager(s) (if Not Applicable any):
34.	of Dealer:	If non-syndicated, name and address ABN AMRO Bank N.V.
35.	Whether applicable:	TEFRA D rules are applicable or TEFRA rules are not	TEFRAD

1. Additional selling restrictions: Not Applicable

PURPOSE OF FINAL TERMS

These Final Terms comprise the final terms required for issue and admission to trading on the London Stock Exchange of the Notes described herein pursuant to the U.S.\$40,000,000,000 Global Medium Term Note Programme of Swedbank AB (publ).

RESPONSIBILITY

The Issuer accepts responsibility for the information contained in these Final Terms.

Signed on behalf of the Issuer. By: $\frac{1}{2}$

$\frac{1}{2}$

Duly authorised

Stefan Abrahamsson

Jonas Westerberg

PART B-OTHER INFORMATION

37. LISTING AND ADMISSION TO TRADING

38.

	(i)	Listing:	London
	(ii)	Admission to trading:	Application has been made for the Notes to be admitted to trading on the London Stock Exchange with effect from 23 January 2013.
	(iii)	Estimate of total expenses Not Applicable admission related to to trading:
RATINGS
Ratings:			The Notes to be issued are expected to be rated:
			Moody's: A2
			Standard & Poor's: A+

Fitch: A+

Each of Moody's Investors Service Ltd ("Moody's"), Standard & Poor's Credit Market Service Europe Limited ("S&P") and Fitch Ratings Ltd. ("Fitch") is established in the European Union and is registered under Regulation (EC) No. 1060/2009 $(as$ amended).

39. INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE/OFFER

Save for any fees payable to the Dealer, so far as the Issuer is aware, no person involved in the offer of the Notes has an interest material to the offer.

40. OPERATIONAL INFORMATION

• $(i)$ ISIN Code: XS0878816015
• $(ii)$ Common Code: 087881601
• $(iii)$ Any clearing system(s) other Not Applicable than Euroclear Bank SA/NV, Clearstream Banking société anonyme and SIX SIS Ltd (together with the address of each such clearing system)

and the relevant identification number(s):

$(iv)$ Settlement procedures:

Customary medium term note settlement and payment procedures apply

$(v)$ Delivery:

Delivery against payment

• $(v_i)$ Names and addresses of Not Applicable additional Paying Agent(s) (including, in the case of Swiss Domestic Notes, the Principal Swiss Paying Agent and any other Swiss Paying Agents) (if any):
• $(vii)$ Intended to be held in a manner which would allow Eurosystem eligibility:

Yes

Note that the designation "yes" simply means that the Notes are intended upon issue to be deposited with one of the ICSDs as common safekeeper and does not necessarily mean that the Notes will be recognised as eligible collateral for Eurosystem monetary policy and intra-day credit operations by the Eurosystem either upon issue or at any or all times during their life. Such recognition will depend upon satisfaction of the Eurosystem eligibility criteria.