NATIONWIDE BUILDING SOCIETY

Capital/Financing Update • Jun 5, 2015

3 June 2015

Nationwide Building Society NOK 150,000,000 3.04 per cent. Notes due June 2030 issued pursuant to its U.S.\$25,000,000,000 European 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 Base Prospectus dated 2 October 2014 and the supplements thereto dated 25 November 2014, 16 February 2015 and 26 May 2015 which together constitute a base prospectus for the purposes of Directive 2003/71/EC (and amendments thereto, including Directive 2010/73/EU) (the Prospectus Directive) (the Base Prospectus). 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 Base Prospectus. 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 Base Prospectus. The Base Prospectus has been published on the website of the London Stock Exchange through a regulatory information service (http://www.londonstockexchange.com/exchange/news/market-news/market-news- home.html).

TYPE OF NOTE

1.		Deposit/Ordinary/Subordinated:	Ordinary
2.		Interest Basis:	Fixed Rate (see paragraph 12 below)
		DESCRIPTION OF THE NOTES
3.	New Global Note:		Yes
4.	Form of Notes:		Temporary Global Note exchangeable for a Permanent Global Note which is exchangeable for Definitive Notes only upon an Exchange Event
5.	(a)	Series Number:	460
	(b)	Tranche Number:	1
	(c)	Date on which the Notes will be consolidated and form a single Series:	Not Applicable
6.	(a)	Nominal Amount of Notes to be issued:	NOK 150,000,000
	(b)	Aggregate nominal amount of Series (if more than one issue for the Series):	NOK 150,000,000

(c) Specified Currency: Norwegian Krone (NOK) (d) Specified Denomination: NOK 1,000,000 (e) Calculation Amount: NOK 1,000,000

7.	Issue Price:	100 per cent.
8.	Issue Date:	5 June 2015
9.	Interest Commencement Date:	Issue Date
10.	Automatic/optional conversion from one Interest Basis to another:	Not Applicable
11.	Additional Financial Centre(s):	New York and London

PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE

12.	Fixed Rate Note Provisions:		Applicable
	(a)	Fixed Rate of Interest:	3.04 per cent. per annum payable in arrear on each Fixed Interest Date
	(b)	Fixed Interest Dates:	5 June in each year, commencing 5 June 2016, up to and including the Maturity Date
	(c)	Initial Broken Amount per denomination:	Not Applicable
	(d)	Fixed Coupon Amount(s):	NOK 30,400 per Calculation Amount
	(e)	Broken Amount(s):	Not Applicable
	(f)	Final Broken Amount(s) per denomination:	Not Applicable
	(g)	Day Count Fraction:	Actual/Actual (ICMA)
	(h)	Business Day Convention:	Following Business Day
		-Adjusted:	Not Applicable
		-Non-Adjusted:	Applicable
	(i)	Additional Business Centre(s):	New York
	(j)	Determination Date(s):	5 June in each year
13.		Zero Coupon Note Provisions	Not Applicable
14.		Floating Rate Note Provisions	Not Applicable
		PROVISIONS REGARDING REDEMPTION/

MATURITY

15.	Maturity Date:	5 June 2030
16.	Redemption at Issuer's option:	Not Applicable
17.	Redemption at Noteholder's option:	Not Applicable

Final Redemption Amount: 18.

Subject to any purchase and cancellation or early redemption, the Notes will be redeemed on the Maturity Date at 100 per cent. of their nominal amount

Early Redemption Amount payable on 19. redemption for taxation reasons or on an Event of Default:

NOK 1,000,000 per Calculation Amount

GENERAL PROVISIONS APPLICABLE TO THIS ISSUE OF NOTES

U.S. Selling Restrictions: 20.

Reg S Compliance Category 2; TEFRA D

Signed on behalf of NATIONWIDE BUILDING SOCIETY $71$
Duly Authorised By: By: . . . . . . Dyly Authorised

PART B – OTHER INFORMATION

1. LISTING AND ADMISSION TO TRADING

	(a)	Listing and Admission to trading:	Application has been made by the Issuer (or on its
			behalf) for the Notes to be admitted to trading on the London Stock Exchange's regulated market and listing on the Official List of the UK Listing Authority with effect Authority with effect from the Issue Date
	(b)	Estimated of total expenses related to admission to trading	GBP 300
2.	RATINGS
	Ratings:		The Notes to be issued are expected to be rated:
			Moody's Investors Service Limited: A2

Standard & Poor's Credit Market Services Europe Limited: A Fitch Ratings Ltd.: A

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

Save for any fees payable to Deutsche Bank AG, London Branch (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 its 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.

4. YIELD (Fixed Rate Notes only)

Indication of yield: 3.04 per cent. per annum

5. OPERATIONAL INFORMATION

(a)	ISIN:	XS1242935457
(b)	Common Code:	124293545
(c)	Any clearing system(s) other than Euroclear and Clearstream, Luxembourg and the relevant identification number(s):	Not Applicable
(d)	Names and addresses of initial Paying Agent(s) (if any):	Citibank N.A., London Office Citigroup Centre Canada Square Canary Wharf London E14 5LB
(e)	Names and addresses of additional Paying Agent(s) (if any):	Not Applicable