Danske Bank — Capital/Financing Update 2016

Oct 17, 2016

Company announcement Group Communications
Holmens Kanal 2–12
DK-1092 København K
Tel. +45 45 14 56 95
17 October 2016

      Danske Bank issues structured notes linked to UniCredit SpA.

On 18 October 2016, Danske Bank will issue EUR 6,654,000 equity-linked notes
linked to the performance of the share price of UniCredit SpA. The notes are
designated “DB UniCredit Autocallable 2017” (ISIN XS1504085041).

The notes are issued at a price of 100. The notes pay interest on 4.95% per
quarter, conditional upon the performance of the underlying equity.

The notes are issued under Danske Banks EUR 5,000,000,000 Structured Note
Programme dated 22 June 2016.

The notes will be issued on 18 October 2016 and will mature on 27 October 2017.
The notes will be registered with Euroclear Brussels. Danske Bank will file an
application for the notes to be listed on NASDAQ Copenhagen A/S from 18 October
2016.

For further information about the notes, please see the Final Terms, attached
to this announcement, which together with the Base Prospectus specify the terms
and conditions of the notes.

                             Danske Bank A/S

Contact:
Holger Lunden, Global Head of Structured Products, tel. +45 45143265

This is a translation of a company announcement in the Danish language.In case
of discrepancies, the Danish version prevails.