ASSA ABLOY — Capital/Financing Update 2014

Sep 30, 2014

29 September 2014

ASSA ABLOY AB (publ)

Issue of EUR 15,000,000 Fixed Rate Notes due 1 October 2021 under the $61,500,000,000$ 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 Offering Circular dated 12 November 2013 (the Offering Circular together with the supplements to it dated 13 February 2014, 29 April 2014 and 12 September 2014, the Offering Circular). The Offering Circular constitutes a base prospectus for the purposes of Directive 2003/71/EC as amended (which includes the amendments made by Directive 2010/73/EU to the extent that such amendments have been implemented in a relevant Member State of the European Economic Area) (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 Offering Circular. Full information on the Issuer and the Guarantor (in the case of Guaranteed Notes) and the offer of the Notes is only available on the basis of the combination of these Final Terms and the Offering Circular. The Offering Circular has been published on the website of the London Stock Exchange through a regulatory information service (www.londonstockexchange.com/exchange/news/marketnews/market-news-home.html).

The Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the Securities Act) or any U.S. state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the Securities Act) unless an exemption from the registration requirements of the Securities Act is available and in accordance with all applicable securities laws of any state of the United States and any other jurisdiction.

1.	(i)	Issuer:		ASSA ABLOY AB (publ)
2.	(i) Series Number:			37
		(ii)	Tranche Number:	1
		(iii)	Date on which the Notes will be consolidated and form a single Series:	Not Applicable
3.	Specified Currency or Currencies:			Euro ("EUR")
4.		Aggregate Nominal Amount:
		(i)	Series:	EUR 15,000,000
		(ii)	Tranche:	EUR 15,000,000
5.	Issue Price of Tranche:			100.00 per cent. of the Aggregate Nominal Amount
6.		(i)	Specified Denominations:	EUR 100,000
		(ii)	Calculation Amount:	EUR 100,000
7.	(i)	Issue Date:		1 October 2014
		(ii)	Interest Commencement Date:	Issue Date

8.	Maturity Date:	1 October 2021
9.	Interest Basis:	1.125 per cent. Fixed Rate (see paragraph 13 below)
10. Redemption Basis:		Subject to any purchase and cancellation or early redemption, the Notes will be redeemed on the
		Maturity Date at 100.00 per cent. of their nominal amount
11.	Change of Interest Basis:	Not Applicable
12. Put/Call Options:		Not Applicable

PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE

13. Fixed Rate Note Provisions		Applicable
(i)	Rate(s) of Interest:	1.125 per cent. per annum payable in arrear on each Interest Payment Date
(ii)	Interest Payment Date(s):	1 October in each year from, and including, 1 October 2015 up to and including the Maturity Date
(iii)	Fixed Coupon Amount(s):	EUR 1,125 per Calculation Amount
(iv)	Broken Amount(s):	Not Applicable
(v)	Day Count Fraction:	Actual/Actual (ICMA)
(vi)	Determination Date(s):	1 October in each year
14. Floating Rate Note Provisions		Not Applicable
	15. Zero Coupon Note Provisions	Not Applicable

PROVISIONS RELATING TO REDEMPTION

	16. Issuer Call:	Not Applicable
	17. Make-whole Redemption by the Issuer:	Not Applicable
18. Investor Put:		Not Applicable
	19. Final Redemption Amount:	EUR 100,000 per Calculation Amount
20.	Early Redemption Amount payable on redemption for taxation reasons or on event of default:	EUR 100,000 per Calculation Amount

GENERAL PROVISIONS APPLICABLE TO THE NOTES

21. Form of Notes:		Bearer Notes:
(1)	Form:	Temporary Bearer Global Note exchangeable for a Permanent Bearer Global Note which is exchangeable for Definitive Notes upon an Exchange Event

	New Global Note: (ii)	Yes
22.	Additional Financial Centre(s):	TARGET2
23. Talons for future Coupons to be attached No. to Definitive Bearer Notes:
	Signed on behalf of ASSA ABLOY AB (publ)
By:	what
	Jonas Gardmark Duly authorised

Signed on behalf of ASSA ABLOY AB (publ):

By:
	Duly authorised yacon want berg

PART B-OTHER INFORMATION

LISTING AND ADMISSION TO TRADING $\mathbf{1}$ .

• $(i)$ Listing and admission to trading: London
• Estimate of total expenses related GBP 400 $(ii)$ to admission to trading:

$\overline{2}$ . RATINGS

Ratings:

The following rating reflects ratings assigned to Notes of this type issued under the Programme generally:

$S & P$ : $A -$

INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE $3.$

Save for any fees payable to the Dealer, so far as the Issuer is aware, no person involved in the issue of the Notes has an interest material to the offer. The Dealer and their affiliates have engaged, and may in the future engage, in investment banking and/or commercial banking transactions with, and may perform other services for, the Issuer and its affiliates in the ordinary course of business.

$\overline{4}$ . YIELD

Indication of yield:

1.125 per cent. per annum The yield is calculated at the Issue Date on the basis of the Issue Price. It is not an indication of future yield.

OPERATIONAL INFORMATION 5.

(i)	ISIN Code:	XS1115418847
(ii)	Common Code:	111541884
(iii)	Any clearing system(s) other than DTC, Euroclear and Clearstream, Luxembourg and the relevant identification number (s):	Not Applicable
(iv)	Names and addresses of initial Paying Agent(s) (if any):	Citibank N.A., London Branch, Citigroup Centre, Canada Square, Canary Wharf London E14 5LB United Kingdom
(v)	addresses and of Names (i f) additional Paying Agent(s) any):	Not Applicable

6. DISTRIBUTION

U.S. Selling Restrictions:

Reg. S Compliance Category 2; TEFRA D